Morocco news

moments ago BoJ to adjust balance sheet when inflation reaches 2%

Mubasher: Bank of Japan Governor Haruhiko Kuroda on Wednesday said that the central bank would maintain its large-scale monetary easing policy, according to Reuters.

Global Reports

34 minutes ago UK house price growth picks up in August

Mubasher: House prices in the UK rose at the slowest pace almost seven years, during the 12-month period ended last August.

Global Markets brief

51 minutes ago Huawei’s revenue climbs 24.4% in Q3

Mubasher: Huawei on Tuesday reported that its revenue jumped by 24.4% year-on-year in the third quarter of this year.

Global Markets brief

1 hour ago Gold edges up on Brexit uncertainty; risk-on appetite caps gains

Mubasher: Gold traded higher on Wednesday owing to uncertainty surrounding Brexit negotiations, but a risk-taking sentiment limited gains.

Global Reports

Total grain production dropped to 17.9 million tonnes

1 hour ago Egypt’s wheat output hits 8.6m tonnes in FY17/18 – CAPMAS

Cairo – Mubasher: Wheat production in Egypt rose by 1.6% year-on-year during fiscal year 2017/2018, the Middle East News Agency (MENA) reported on Wednesday. The North African nation’s wheat output increased to 8.6 million tonnes in FY17/18, …

Macroeconomics

2 hours ago Updated Oil rises on Brexit optimism; weak growth outlook drags

Mubasher: Oil prices declined on Wednesday, dragged down by weaker fuel demand outlook amid lingering worries over a global economic slowdown.

Global Markets brief

2 hours ago Eurozone trade surplus grows in August

Mubasher: Preliminary estimates suggested that the Eurozone ran a trade balance surplus of EUR 14.7 billion in August.

Global Reports

3 hours ago Eurozone annual inflation decelerates in September

Mubasher: Final estimates showed that the Eurozone annual inflation grew at 0.8% in September, down from 1% in August.

Global Reports

3 hours ago UK output prices growth loses more pace in September

Mubasher: Producer price index for the goods leaving UK factories rose at a slower rate of 1.2% in the year ended September.

Global Markets brief

3 hours ago Updated UK consumer inflation remains at slowest pace since 2016

Mubasher: The UK’s consumer price index, the headline gauge for the country’s inflation, remained unchanged month-on-month at 1.7% year-on-year in September.

Global Markets brief

4 hours ago European equities slip as investors await outcome of Brexit talks

Mubasher: European stocks traded lower earlier in Wednesday as investors were awaiting a possible Brexit deal between the UK and the European Union.

Global Reports

Global oil prices slid by 1.5% on Tuesday

4 hours ago Kuwaiti oil declines 53 cents on Tuesday – KPC

Mubasher: The price of Kuwait’s crude oil fell by 53 cents to settle at $60.61 per barrel (pb) on Tuesday when compared to $61.14 pb a day earlier, according to the official prices of Kuwait Petroleum Corporation (KPC). Globally, oil prices …

Commodities

15 October 06:11 PM Citigroup profit rises 6% in Q3

Mubasher: Citigroup on Tuesday said it posted a 6% year-on-year growth in net income during the third quarter of this year.

Global Markets brief

15 October 05:46 PM Goldman Sachs profit falls 26% in Q3

Mubasher: Goldman Sachs on Tuesday reported its earnings for the third quarter of this year, which missed Wall Street forecasts.

Global Markets brief

15 October 05:06 PM JPMorgan Chase profit climbs in Q3 on strong consumer banking

Mubasher: JPMorgan Chase on Tuesday said that its net income and revenue climbed by 8% year-on-year in the third quarter of this year.

Global Reports

15 October 04:48 PM Kuwait crude oil drops 54 cents on Monday – KPC

Mubasher: The Price of Kuwait’s crude oil declined by 54 cents to settle at $61.14 per barrel (pb) on Monday when compared to $61.68 a barrel on Friday, according to the latest data by Kuwait Petroleum Corporation (KPC). At the global level, oil …

Macroeconomics

15 October 04:09 PM China’s new lending grows above forecast in September

Mubasher: Chinese bank lending during September came more than expected, as the authorities boosted their efforts to stabilise sluggish economy as US trade pressures mount.

Global Markets brief

15 October 03:20 PM Global steel demand remains resilient in 2019, 2020–worldsteel

Mubasher: The World Steel Association said that global steel demand will remain solid this year and next, even amid uncertainty over global economic conditions.

Global Reports

15 October 02:20 PM Gold rises as trade hopes fade, amid focus on Brexit

Mubasher: Gold was higher on Tuesday as hopes surrounding the US-China trade talks waned, while markets were anticipating the outcome of crunch meeting.

Global Markets brief

The USD dropped to EGP 16.24 for buying ADIB

15 October 02:12 PM USD falls against EGP on Tuesday

Cairo – Mubasher: The US dollar exchange rate has continued to slide against the Egyptian pound on Tuesday. The USD declined by EGP 0.03 to EGP 16.19 for buying and EGP 16.29 for selling at the National Bank of Egypt (NBE) and Banque Misr. …

Banking and Finance

15 October 01:37 PM German investor morale posts less-severe-than expected decline

Mubasher: Sentiment among German investors declined in October, amid worries that the economy might be on course to recession.

Global Markets brief

15 October 12:37 PM Oil extends drop on weak China figures, global demand fears

Mubasher: Oil prices fell on Tuesday, extending heavy losses in the preceding session, after figures from China accentuated worries about fuel consumption growth.

Oil and Energy