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Revenues slipped by 17.6% YoY in 10M-19/20
18 February 09:52 AM Kuwaiti oil revenues drop to KWD 13bn in 10M
Mubasher: Kuwait’s oil revenues amounted to KWD 13.07 billion ($42.97 billion) in the first 10 months of fiscal year 2019/2020, down by 17.64% year-on-year (YoY) from KWD 15.87 billion ($52.17 billion) Oil revenues in Kuwait accounted for 94.2% of …
Kuwait’s oil economy slipped by 1% in 2019
27 January 11:49 AM Kuwait’s GDP down to 0.7% in 2019 on lower oil sector growth – IMF
Mubasher: The International Monetary Fund (IMF) on Monday stated that Kuwait’s gross domestic product (GDP) slowed to 0.7% in 2019 from 1.2% in 2018, pressured by lower oil prices and output, despite the growing non-oil sector. Kuwait’s real oil …
Total Saudi merchandise exports slipped by 14.9% in November 2019
26 January 01:50 PM Saudi oil exports dip 15.4% in November - GaStat
Riyadh – Mubasher: Recent data from the Saudi Arabia General Authority for Statistics (GaStat) showed a 15.4% year-on-year (YoY) decrease in Saudi oil exports in November 2019. Oil exports retreated to SAR 62.3 billion in November last year from …
The Ministry of Economy delegation visiting DMCC
12 January 12:06 PM DMCC plays vital role in diamonds, precious metals trade in Dubai
UAE – Mubasher: DMCC has recently hosted the UAE’s minister of economy, Sultan Bin Saeed Al Mansouri, to sum up the entity's role in streamlining, boosting, and driving global trade through Dubai. The minister toured Almas Tower and visited both …
The less predictable global environment may reduce investor confidence
9 January 11:25 AM Levant, North Africa sovereigns' 2020 outlook negative – Moody’s
Mubasher: Moody's Investors Service highlighted that the negative outlook previously placed for sovereigns in the Levant and North Africa region in 2020 is a result of political and social tensions due to a slowing pace of reform and limited scope …
Bahrain launched Cloud First Policy in 2017
7 January 03:58 PM Pakiza Abdulrahman: Gov’t leads cloud adoption in Bahrain; private sector is following – Interview
By: Ingy ElSafy & Moslem Ali Mubasher: Startup Bahrain is a national initiative launched in 2016 for the purpose of facilitating all tools required for small business to build and establish themselves while growing into international and regional …
Tanker Forward Freight Agreement (FFA) volumes increased by 38% YoY in 2019
7 January 01:35 PM Volatility boosts freight derivative volumes in 2019
UAE – Mubasher: Freight derivatives markets showed higher traded volumes in 2019 for both tankers and dry cargo vessels, data by the Baltic Exchange showed.  Tanker Forward Freight Agreement (FFA) volumes increased by 38% year-on-year (YoY) to …
The Saudi Stock Exchange will be open for trading on Wednesday
31 December 2019 03:42 PM Twelve Arab stock markets, excluding KSA, off on 1 January
Mubasher: Twelve Arab stock markets will close on Wednesday, 1 January 2020, on the occasion of the New Year holiday. The Gulf stock markets that will close on Wednesday include the Dubai Financial Market (DFM), the Abu Dhabi Securities Exchange …
DME oil futures is a benchmark for Oman, Dubai, Saudi Arabia, Bahrain and now Kuwait
31 December 2019 01:49 PM DME Oman to price Kuwait oil futures from February 2020
Dubai – Mubasher: Dubai Mercantile Exchange (DME) recently announced that Kuwait Petroleum Corporation (KPC) will use the DME Oman Futures contract as a price reference for Kuwaiti crude oil exports to Asia starting from 1 February 2020 onwards. …
Trading hours will resume on Sunday, 5 January
25 December 2019 10:34 AM Boursa Kuwait announces New Year’s holiday
Mubasher: Boursa Kuwait announced a two-day holiday on the occasion of the New Year 2020, according to a statement on Wednesday. Kuwait’s stock market referred that it will close on Wednesday and Thursday, 1 and 2 January 2020. Trading hours will …
Vera Futorjanski during a panel at RiseUp Summit 2019
22 December 2019 10:50 AM Vera Futorjanski: Startups must focus on solving local challenges – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Vera Futorjanski, Director of Innovation and Partnerships at 500 Startups, recently participated in the RiseUp Summit 2019, held in the American University in Cairo (AUC) on 5-7 December, where she …
The CEO of IWG - Mark Dixon
18 December 2019 05:03 PM Flexible workspaces can boost local economies by $254bn – Regus Study
UAE – Mubasher: Due to the increasing global migration of flexible office space and co-working spots to areas outside large cosmopolitan cities, a ‘flex economy’ is being created and is likely to contribute over $254 billion to local economies …
Mohamed ElKasstawi as a speaker during RiseUp Summit 2019
12 December 2019 01:31 PM ElKasstawi: Stock markets, gov’t can boost performance via digital money – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Blockchain is increasingly carving out the space within the investment and banking sectors, with cryptocurrencies, tokens, and fiat expected to reshape the future of finance as many countries …
Lebanon and Jordan saw the highest female participation at 20%
9 December 2019 02:29 PM MENA's public, private sectors foster female entrepreneurs' inclusion – Arabnet Report
Mubasher: The proportion of female entrepreneurs across the region stabilised at 14% during the period from 2013 and 2018 despite the governments' initiatives to involve more females in the labour force, according to the 4th edition of the “State …
GCC chemical production capacity reached 174.8 million tons last year
4 December 2019 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 …
Aramco raised feedstock prices last month
27 November 2019 10:53 AM Oil prices directionless; demand estimates remain stable – Report
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has raised feedstock prices in October, a move which impact is likely to be seen in the fourth quarter (Q4), according to a recent report by Al Jazira Capital. A change in margins …
Diamond industry is at a major inflection point
26 November 2019 00:09 PM DMCC upbeat on long-term diamond industry outlook, despite pressures
Mubasher: The Dubai Multi Commodities Centre (DMCC) said on Tuesday that the diamond industry is facing major pressures, citing a variety of factors, but remained positive on the long-term economic outlook for the sector. A steady decline in …
Stargems is an international diamond company registered in DMCC
25 November 2019 11:36 AM UAE’s Diamond Exchange hosts rough diamond tender; $50m sold
UAE – Mubasher: The Dubai Diamond Exchange (DDE) hosted one of the largest rough diamond tenders to take place in Dubai over the period from 17 to 21 November 2019 Stargems, which is an international diamond company registered in the Dubai Multi …
Khalid Abdullah Al Hussan, Chief Executive Officer (CEO) of Tadawul
24 November 2019 02:28 PM Tadawul could launch derivatives market in 2020
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) will announce the expected to launch a financial derivatives market before the end of 2019, said CEO Khalid Abdullah Al Hussan During an event organized by the Riyadh Chamber, Al Hussan said …
Not only developed economies can benefit from intelligent connectivity
19 November 2019 00:12 PM Intelligent connectivity catalyst for GDP growth – Huawei Report
By: Moslem Ali Mubasher: A recent report by Huawei showed that countries with scores over 65 on the Global Connectivity Index (GCI) that made continuous investment in intelligent connectivity can expect a boost in the gross domestic product (GDP) …
Exchange companies registered profits of KWD 13.77 million by September
12 November 2019 00:43 PM Kuwaiti exchange companies’ profits down 4% in 9M
Mubasher: Foreign exchange companies in Kuwait saw a 4% decrease in net profits during the first nine months of the year, according to a statement by the Central Bank of Kuwait (CBK). Exchange companies registered profits of KWD 13.77 million …
Hatem Sleiman, Regional Vice President - Middle East, Pakistan & Afghanistan, Western Union
31 October 2019 11:53 AM Sleiman in Interview – Western Union starting to leverage platform in new ways
Mubasher: Western Union, the US worldwide financial services and communications company, has enhanced the UAE with the latest generation of omni-channel platform in a way of confirming the deep commitment to keeping the Middle East at the …
Report available online on MAGNiTT and ADGM's websites
24 October 2019 05:42 PM MAGNiTT, ADGM launch first of kind MENA FinTech Venture Report
Mubasher: The leading startup data platform in the region, MAGNiTT, has teamed up with Abu Dhabi Global Market (ADGM) to launch the first-of-its-kind 2019 MENA FinTech Venture Report. The full report can be found online on the websites of MAGNiTT …
surveillance cameras may represent 70% of the 5G IoT endpoint installed base in 2020
21 October 2019 11:37 AM Outdoor surveillance cameras may be largest market for 5G IoT Solutions - Gartner
Mubasher: Gartner Inc. expected outdoor surveillance cameras to become the biggest market for 5G Internet of Things (IoT) solutions across the world during the coming three years.     Surveillance cameras are forecast to represent 70% of the 5G …
Grand Union is Developed by St George PLC, Berkeley Group
17 October 2019 05:13 PM Major trending investments in London include Battersea Power Station – Savills
Mubasher: Companies invest into the real estate market in London, so too are developers, by offering increasingly attractive opportunities, the leading real estate advisor, Savills Middle East, said. In a high-profile event at the UK Embassy in …