Oman news

25 minutes ago Car giants axe 38,000 jobs as sales tumble – Report

Auto giants announced at least 38,000 layoffs over the past six months.

Global Markets brief

2 hours ago JLL leapfrogs in Fortune 500 list

The leap of the leading professional services firm was the second biggest move on the prestigious list.

Global Reports

2 hours ago Gold prices firm as trade blues, Fed approach support dollar

Trade tensions supported the dollar, while investors looked for a direction after the minutes of the Federal Reserve meeting indicated that rates would remain unchanged.

Global Markets brief

The summit will take place during the period between 10 and 11 September

3 hours ago Dubai to host ‘Future Manufacturing and Trade Summit 2019’ in September

UAE – Mubasher: Dubai will host the fourth edition of ‘Future Manufacturing and Trade Summit’ in September. The Middle East’s leading event will take place during the period between 10 and 11 September at the International Festival City, according …

Macroeconomics

3 hours ago German business morale falls in May on weak services

The German business climate index slid to 97.9 points in May, from the revised 99.2 in April.

Global Reports

4 hours ago Eurozone business posts sluggish growth in May as demand stagnates

Factories in the Eurozone reported tougher conditions, as the output extended its contraction for the fourth month in a row.

Global Markets brief

NBK Research also predicts regional issuance to remain solid in 2019

4 hours ago GCC bond, sukuk issuance surges $32bn in Q1– NBK Research

Mubasher: The issuance of bonds and sukuk in the Gulf region has soared by $32 billion during the first quarter of 2019. The surge in Q1 bond and sukuk issuance in the GCC has raised outstanding debt in the region to $478 billion. Meanwhile, …

Macroeconomics

The USD-EGP exchange rate settled at EGP 16.9 for buying at NBE

5 hours ago USD stabilises against EGP early Thursday

Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Thursday at 18 banks. The USD rate remained stable at EGP 16.9 for buying and EGP 17 for selling at National Bank of Egypt (NBE), Banque Misr, and …

Currencies

5 hours ago German private sector growth hits 3M-peak in May

Germany’s flash composite output index came in at 52.4 in May, up from 52.2 in April.

Global Reports

oil futures declined at Wednesday’s settlement on the back of higher US inventories

5 hours ago Kuwait’s crude oil price drops 45 cents on Wednesday

Mubasher: The price of Kuwait’s crude oil went down 45 cents to settle at $71.65 per barrel (pb) on Wednesday, compared to $72.10 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). Globally, oil futures declined …

Macroeconomics

5 hours ago Mining giant BHP sees ‘sooner-than-expected’ end to coal era

BHP Group will direct its focus to boost “value to shareholders” at its thermal coal mine in Australia and the Cerrejon business in Colombia.

Global Markets brief

10:22 AM Oil falls on building US crude inventories amid economic fears

US crude inventories climbed by 4.7 million barrels in the week ended 17 May to 476.8 million barrels, hitting their highest level since July 2017.

Global Markets brief

12:12 AM Oil ends lower on Wednesday

Mubasher: Oil futures fell at Wednesday’s settlement, as US inventories rose.

Oil and Energy

22 May 10:21 PM Gold goes up at Wednesday’s settlement

Mubasher: Gold settled higher on Wednesday, as minutes from the Federal Open Market Committee showed near consensus over patient stance on interest rates.

Goods and Metals

22 May 03:04 PM UK house prices grow 1.4% in March

Annual house price growth in the UK picked up during March, the Office for National Statistics (ONS) said.

Global Reports

22 May 02:53 PM Japan’s exports fall for fifth month amid US-Sino trade disputes

The drop in exports was mainly ascribed to a 41% plunge in China-bound shipments of chip-making tools and semiconductor components.

Global Markets brief

Kuwait’s oil output increased by 13,000 bpd year-on-year in March to 2.713 mbpd

22 May 01:38 PM Kuwait’s oil exports edge up in March – JODI

Mubasher: Kuwait’s oil exports inched up 0.69% to 2.034 million barrels per day (mbpd) in March, compared to 2.020 mbpd for the same month a year earlier, according to the Joint Organisations Data Initiative (JODI). The GCC nation’s oil exports …

Sector Reports

22 May 01:24 PM US considers adding 5 Chinese surveillance firms to blacklist

The ban on the Chinese giant also threatened to derail global economic growth and disrupt the rollout of fifth-generation (5G) networks.

Global Reports

22 May 12:21 PM UK output price growth slows down slightly in April

Crude oil provided the biggest upward contributions to input annual inflation rate, climbing to 6.9% year-on-year.

Global Markets brief

22 May 12:04 PM UK consumer inflation picks up steam in April

The UK's consumer price index, the headline gauge for the country’s inflation, edged up to 2.1% year-on-year in April, from 1.9% in March.

Global Reports

The trade surplus growth was attributed to a 31.8% increase in Kuwait’s exports to Japan

22 May 11:59 AM Kuwait’s trade surplus with Japan hits $642m in April

Mubasher: Kuwait’s trade surplus with Japan surged 44.4% year-on-year to JPY 70.87 billion ($642.12 million) in April from JPY 49.06 billion ($444.51 million), the Japanese finance ministry said on Wednesday. The trade surplus growth was …

Commodities

22 May 11:57 AM UK public borrowing hits 12-yr trough in April

The UK's public sector net borrowing recorded the lowest April level since 2007.

Global Markets brief

22 May 11:10 AM Gold wobbles near 2-week trough as dollar strengthens

A firmer dollar and signs of easing tensions between the US and China limited demand for the precious metal.

Global Markets brief

22 May 10:48 AM Kuwait’s crude oil price slides 86 cents on Tuesday

Mubasher: The price of Kuwait’s crude oil decreased by 86 cents to settle at $72.1 per barrel (pb) on Tuesday, compared to $72.96 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the international level, oil …

Commodities