Morocco news

04:12 PM Lufthansa plans for compulsory job cuts

Lufthansa has given its workers a notice for compulsory job cuts after incurring EUR 1.7 billion operating losses in a single quarter.

Global Reports

The OSPs to Northwestern Europe declined by $2.5

03:58 PM Saudi Aramco sets crude selling prices for September

Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has set the official selling prices (OSPs) for its Arab light crude oil for September delivery, according to Reuters. The Saudi company has decreased the OSPs of Arab light crude oil …

Commodities

12:50 PM Bank of England keeps interest rates unchanged, expects longer recovery

Mubasher: The Bank of England (BoE) maintained interest rates steady, but warned that the economy could take longer to recover from the coronavirus (COVID-19) crisis.

Global Reports

10:01 AM US, China to review trade deal mid-August

The senior US and Chinese officials will come together on 15 August via videoconference to review the first phase of the bilateral trade deal.

Global Reports

09:58 AM Thomson Reuters reports lower quarterly earnings

Thomson Reuters Corp on Wednesday said it saw slightly lower revenue and an 18% slump in operating profit during the second quarter of 2020.

Global Reports

The price of 24-karat gold amounted to EGP 1,046 per gram

5 August 04:05 PM Egypt's gold prices rise to all-time high

Cairo – Mubasher: Gold prices continued its rising trend in the Egyptian market, reaching an all-time high on Wednesday, according to the gold division at the Federation of Egyptian Chambers of Commerce (FEDCOC). The price of 24-karat gold …

Macroeconomics

5 August 02:02 PM Beirut explosion causes $3-5bn damages – Governor

Mubasher: The massive blast that shook the Lebanese capital on Tuesday caused between $3 billion and $5 billion worth of damage.

Global Reports

4 August 02:49 PM Nestlé reports 9.5% drop in H1 sales

Nestlé said its total sales fell 9.5% in the first six months of 2020 to stand at CHF 41.2 billion.

Global Reports

4 August 02:12 PM BP reports $16.8bn quarterly losses, slashes dividends

Energy giant BP on Tuesday reported losses of $16.8 billion for the second quarter (Q2) of 2020.

Global Reports

3 August 01:56 PM Average Dubai crude oil price rises to $43.278 pb in July

Dubai – Mubasher: The average Dubai crude price, as quoted by price-reporting agency S&P Global Platts, marked its highest since February after rising by 2.487% in July 2020, Reuters reported on Monday citing sources in the oil industry as …

Macroeconomics

3 August 11:02 AM Fashion sector represents 42% of Forbes’ Women Behind Middle Eastern Brands 2020 list

Mubasher: This year’s Women Behind Middle Eastern Brands 2020 featured female trailblazers who managed to sustain their successful brands and push the boundaries despite the COVID-19 pandemic. The list, launched initially last year by Forbes, …

Companies Investments

2 August 06:02 PM Siemens Healthineers to acquire Varian for $16.4bn

Mubasher: German health group Siemens Healthineers signed a deal to acquire the US Varian Medical Systems Inc in an all-cash transaction worth $16.4 billion.

Global Reports

30 July 04:31 PM TikTok to offer creators $2bn in next three years

TikTok is planning to give its creators over $2 billion in the next three years.

Global Reports

The new plane is the last one of this model

30 July 11:25 AM EgyptAir receives eighth Airbus A320neo plane

Cairo – Mubasher: EgyptAir has received its eighth Airbus A320neo family plane at the Cairo International Airport, coming from the Airbus factory in Toulouse in France, the chairman of EgyptAir Holding Company, Mohamed Roshdy Zakaria, announced. …

Global Economy

29 July 05:57 PM GE posts wider than expected loss in Q2

General Electric Co (GE) lost less than expected cash in the second quarter (Q2) of the year.

Global Reports

29 July 05:55 PM Investors value TikTok at $50bn for takeover

TikTok has been valued at around $50 billion by some investors planning to control the social media application.

Global Reports

28 July 04:25 PM Ex-Renault boss named as Jaguar Land Rover next CEO

Jaguar Land Rover (JLR) has named Renault's ousted boss, Thierry Bollore, as its next CEO.

Global Reports

28 July 04:22 PM Global remittance transfers to decline 20% in 2020

Countries most dependent on global remittance transfers will face credit risks in 2020 due to the expected drop in such inflows.

Global Reports

27 July 05:11 PM Deutsche Bank to stop coal mining financing by 2025

Mubasher: Deutsche Bank has tightened its policy on fossil fuels, saying that it will end its business activities regarding coal mining worldwide by 2025.

Global Reports

23 July 04:48 PM Twitter daily users see record surge in Q2-20

The number of Twitter's daily users has hit its highest-ever quarterly level during the second quarter (Q2) of 2020.

Global Reports

23 July 03:52 PM EX-Wirecard CEO arrested again as prosecutors suspect $3.7bn fraud

German prosecutors have rearrested the former CEO of Wirecard, Markus Braun, in Munich and detained two other unnamed former executives.

Global Reports

The price of 24-karat gold stood at EGP 958.85 per gram

23 July 03:12 PM Gold prices register new record high in Egypt

Cairo - Mubasher: Gold prices in the Egyptian market recorded on Thursday its highest level ever, according to the gold division at the Federation of Egyptian Chambers of Commerce (FEDCOC). The higher gold prices in the Egyptian market came …

Commodities

Kuwaiti oil settled at $44.45 per barrel

23 July 02:24 PM Kuwaiti oil gains $0.23 on Wednesday

Mubasher: The price of the Kuwait crude oil increased by 23 cents on Wednesday, according to data by the Kuwait Petroleum Corporation (KPC). Yesterday, Kuwaiti oil settled at $44.45 per barrel (pb), compared with $44.22 pb on Tuesday, Kuwait News …

Commodities