Oman news

13 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.

50 minutes 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 Markets brief

Total grain production dropped to 17.9 million tonnes

52 minutes 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

1 hour 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.

Oil and Energy

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

Expo 2020 Dubai is expected to welcome more than 25 million visitors

2 hours ago UK tops European destinations for GCC nationals by 2023

Mubasher: The UK is expected to be one of the top European destinations for GCC nationals to visit with a total of 890,000 trips by 2023, according to recent data by Colliers International. World Travel Market London 2019 (WTM London 2019), which …

Macroeconomics

2 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 Reports

3 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 Markets brief

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 …

Macroeconomics

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 …

Commodities

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 Reports

OEIHChas incurred a net loss of OMR 290,221 in Q3-19

15 October 03:40 PM Oman & Emirates Investment posts Q3 preliminary financial results

Mubasher: Oman & Emirates Investment Holding Co (OEIHC), listed on the Muscat Securities Market and the Abu Dhabi Securities Exchange (ADX), has reported its preliminary financial results for the third quarter of 2019. The company has incurred a …

Financial Results

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.

Goods and Metals

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.

Goods and Metals

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

The new regional headquarter will be managing 87 offices across the regions

15 October 02:11 PM France’s Michelin opens regional office at DAFZA

UAE - Mubasher: Michelin, a leading mobility company based in France, has opened its regional office for its Africa, India, and the Middle East (AIM) operations at Dubai Airport Freezone Authority (DAFZA) in the UAE. The new regional headquarter …

Corporate Actions

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.

Global Reports