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08 December 08:00 AM

Morocco news

7 December 10:45 PM US federal aviation admin to impose $3.9m fine on Boeing
Mubasher: The US Federal Aviation Administration (FAA) is seeking to impose a $3.9 million fine on Boeing Company, according to Reuters.
Global Markets brief
7 December 04:39 PM OPEC+ output cuts may be eased on drop in inventories
Mubasher: OPEC+ output cuts are expected to be eased after global inventories drop and prices reflect a tighter market, Saudi energy minister said.
Oil and Energy
6 December 10:53 PM Oil futures mark highest settlement in over 2M on Friday
Mubasher: Oil futures recorded the highest settlement since 17 September on Friday, surging 7.3% for the week. 
Oil and Energy
6 December 10:38 PM Gold settles $18 lower on Friday  
​​​​​​​Mubasher: Gold prices dropped at Friday’s settlement, losing 0.5% for the week.
Global Markets brief
6 December 07:38 PM Nevada’s public utilities commission approves $1bn solar project
Mubasher: Nevada’s public utilities commission has approved 25-year Power Purchase Agreement for 690 megawatts AC Gemini Solar + Battery Storage Project in Clark County.
Oil and Energy
6 December 04:57 PM Saudi Arabia leads OPEC+ to agree on more output cuts
Mubasher: OPEC+ agreed to adjust output target and redistribute production cuts between its members, Bloomberg reported on Friday.
Global Markets brief
Kuwaiti oil minister Khaled Al Fadel
6 December 03:08 PM Kuwait’s oil minister rebuffs reported OPEC agreement on supply cuts
Mubasher: Kuwaiti oil minister Khaled Al Fadel on Friday dismissed reports on an agreement among members of the Organization of the Petroleum Exporting Countries (OPEC) on cutting their collective supply by 500,000 barrels per day to 1.7 million …
Global Economy
6 December 12:56 PM Phoenix Group acquires Swiss Re’s UK unit for $4.3bn
Mubasher: Reinsurance company Swiss Re agreed to sell its UK subsidiary for pension giant Phoenix Group for GBP 3.25 billion in cash and shares.
Global Reports
Kuwaiti crude oil settled at $64.43 pb
6 December 12:25 PM Kuwaiti oil barrels settle 1.61% higher on Thursday
Mubasher: Kuwaiti crude oil surged by $1.61, settling at $64.43 per barrel (pb) on Thursday. This came after Kuwait barrels recorded $62.82 pb in the preceding session, Kuwait News Agency (KUNA) said, citing the Kuwait Petroleum Corporation (KPC). …
Commodities
Novak met his Saudi counterpart Prince Abdulaziz bin Salman
6 December 11:53 AM Saudi-Russian trade exchange grows 54% in 9M–Novak
Riyadh – Mubasher: Saudi-Russian trade exchange grew by 53.8% over the first nine months of 2019 on the prior year, Russian energy minister Alexander Novak said. The volume of trade exchange between Saudi Arabia and Russia amounted to $1.2 billion …
Global Economy
6 December 10:35 AM Global food prices hit 2-year peak in November
Mubasher: Food prices worldwide surged in November, hitting their highest level since more than two years, mainly driven by meat and vegetable oil price increases.
Global Reports
5 December 07:53 PM Ten wild predictions that could change global economy in 2020
Goods and Metals
5 December 05:42 PM Dubai, London, NY recognised 2019’s ‘Construction Mega Cities’ – GlobalData
The combined value of the project pipelines in those mega cities reaches $5.3 trillion
Global Reports
Sawiris owns 74.9% of Raiffeisen Touristik Group
5 December 02:11 PM Samih Sawiris acquires Thomas Cook’s German franchise network
Cairo – Mubasher: Raiffeisen Touristik Group, majority owned by the Egyptian billionaire Samih Sawiris, has acquired the German franchise network of Thomas Cook, Handelsblatt reported.  Sawiris owns 74.9% of Raiffeisen Touristik Group which …
Companies Investments
5 December 01:59 PM India considers law obliging social media users’ verification
The Indian government has proposed a new privacy bill that may require major social media platforms to offer an identify-verification option.
Global Reports
5 December 01:05 PM bitFlyer facilitates crypto purchases in Europe
Mubasher: Cryptocurrency exchange bitFlyer will make it easy for customers in Europe to purchase digital assets through credit and debit cards and other transfer methods.
Currencies
5 December 01:03 PM Google’s algorithm takes its toll on Expedia as executives resign
Mubasher: Markets are worried over the headwind hitting Washington-based travel technology company Expedia after its CEO and CFO were forced to resign.
Global Markets brief
5 December 12:30 PM BP ups stake in Lightsource BP to 50%
The new investment will help accelerate Lightsource BP’s growth
Global Reports
5 December 11:58 AM Veeam unveils new backup service for Amazon Web Services
Mubasher: Backup and recovery software provider Veeam launched a new backup service for Amazon’s on-demand cloud computing platforms subsidiary, Amazon Web Services.
Global Markets brief
5 December 11:18 AM Moody’s cuts global banks’ outlook to ‘negative’
Mubasher: Moody’s Investors Service downgraded its ‘stable’ outlook to ‘negative’ for global banks, citing “downside risks.”
Global Markets brief
Kuwait crude oil edged up by $0.21
5 December 10:19 AM Kuwait oil settles at $62.82 pb
Mubasher: Kuwait crude oil edged up by $0.21, to close at $62.82 per barrel (pb) on Wednesday, compared with $62.61 pb in Tuesday’s settlement, the Kuwait Petroleum Corporation (KPC) said. Outside Kuwait, global oil prices gained more than 4% at …
Commodities
Founder and CEO of ArabNet, Omar Christidis
4 December 05:54 PM Arabnet Riyadh 2019 is packed with initiatives – CEO Interview
By: Moslem Ali Riyadh – Mubasher: ArabNet Riyadh will feature multiple tracks delving into discussions across a range of industries and topics on 10 & 11 December, bringing together more than 6,000 attendees. The Founder and CEO of ArabNet, Omar …
Event
4 December 04:50 PM Alliance Group names new General Secretary
Mubasher: Alliance has appointed Hadi Zablit as new General Secretary, according to a press release on Wednesday.
Global Reports
Kuwait’s foreign reserves rose by 5.23% year-on-year
4 December 03:58 PM Kuwait’s FX reserves grow 5.23% in October
Mubasher: Kuwait’s foreign reserves rose by 5.23% year-on-year in October, the Central Bank of Kuwait’s (CBK) monthly statistics showed on Wednesday. The Gulf country’s foreign currency exchange reserves amounted to KWD 11.801 billion ($38.939 …
Macroeconomics
GCC chemical production capacity reached 174.8 million tons last year
4 December 03:48 PM GCC chemical industry achieves $84bn in 2018
Mubasher: The chemical industry in the Gulf Cooperation Council (GCC) member countries achieved a revenue of $84.1 billion in 2018, according to a recent report by the Gulf Petrochemicals and Chemicals Association (GPCA). GCC production capacity …
Event