Oman news

1 hour ago Oracle eases moving to cloud solutions

Oracle is updating its enterprise management platform to make it easier for customers to move Oracle databases to the cloud

Global Reports

EBRD offered EUR 183m to Egypt's Electricity Transmission Company

4 hours ago Egypt leads EBRD’s annual investments in 2019

Mubasher: With EUR 1.2 billion new commitments in 26 projects, Egypt has led the European Bank for Reconstruction and Development’s (EBRD) annual investments list in 2019, for the second year in a row, compared to EUR 1.1 billion in 2018. This …

Macroeconomics

BisB will continue to be listed on Bahrain Bourse

18 January 09:48 PM NBB acquires 78.8% stake in Bahrain Islamic Bank

Mubasher: The National Bank of Bahrain (NBB) on Saturday announced that its offer to acquire up to 100% of the paid-up ordinary shares of the Bahrain Islamic Bank (BisB) resulted in the control of a 78.8% stake in the Islamic bank, according to …

Mergers and Acquisitions

18 January 07:50 PM UAE’s non-oil exports to total AED 240bn in 2019

UAE – Mubasher: The value of the UAE’s non-oil exports is expected to reach AED 240 billion in 2019, undersecretary of the Emirati economic ministry for foreign trade, Abdulla Al Saleh stated on Saturday. The country’s non-oil exports grew 14% …

Macroeconomics

18 January 07:12 PM Toshiba’s CEO to add title of president in April 2020

Mubasher: CEO of Japanese multinational conglomerate Toshiba Corporation is set to add the title of president in April 2020, Bloomberg reported on Saturday.

Global Reports

Kuwaiti economy is still dependent on oil returns

18 January 04:26 PM S&P affirms Kuwait's credit rating at ‘AA’; Outlook stable

Mubasher: Standard and Poor's (S&P) has affirmed Kuwait's credit rating at (AA) with a stable outlook, the Kuwait News Agency reported on Saturday. The rating agency said that the Kuwaiti economy is still dependent on oil returns, which accounts …

Macroeconomics

17 January 08:39 PM Commercial, military satellites market to record $195.11bn in 8 years

Mubasher: The global commercial and military satellite market is expected to record a CAGR of 76.6% to $195.11 billion in 2020- 2028.

Global Reports

17 January 04:44 PM Volkswagen to acquire $560m stake in Chinese EV battery maker

Mubasher: Volkswagen is nearing the closure of a deal to acquire a 20% stake in China’s electric vehicle battery maker Guoxuan High-tech Company.

Global Reports

16 January 09:18 PM Tesla considers building design & research centre in China

Mubasher: Tesla is reportedly planning to open a design and research centre in China to make ‘Chinese-style’ vehicles, according to Reuters.

Global Reports

16 January 05:54 PM Package holiday market seen at $632bn by 2023 despite challenges

Mubasher: The global package holiday market has been experiencing several uncertainties since the collapse of the UK’s travel operator, Thomas Cook.

Global Reports

16 January 05:50 PM Isuzu partners with Honda for hydrogen fuel-cell technology

Mubasher: Isuzu and Honda have penned an agreement to conduct a joint research and development (R&D) on hydrogen fuel-cell powered heavy-duty trucks, according to GlobalData.

Global Reports

Participants stressed the crucial role of government support to achieve gender quality

16 January 05:13 PM WiSER forum highlights digitalisation’s role in women empowerment

Abu Dhabi – Mubasher: The global leading renewable energy company Masdar held its fifth annual Women in Sustainability, Environment and Renewable Energy (WiSER) Forum on Tuesday, January 14 at Abu Dhabi Sustainability Week (ADSW) 2020. During an …

Event

16 January 04:31 PM US’ Southwest Airlines extends cancellation of Boeing 737 MAX flights

Mubasher: US-headquartered Southwest Airlines has announced that it will extend cancellations of Boeing 737 MAX flights until 6 June 2020, Reuters reported on Thursday.

Global Reports

15 January 10:45 PM US, China seal deal to ease trade tensions

Mubasher: President Donald Trump on Wednesday signed a trade agreement with China which puts an end to the trade war between the two major economies.

Global Reports

15 January 07:31 PM General Motors to move 1,350 temporary workers to full-time jobs

Mubasher: General Motors announced plans to move over 1,350 hourly employees in the US to 1,350 hourly employees at its assembly plants in Q1-20.

Global Reports

Iron prices have dropped by EGP 300 per tonne since the beginning of the week

15 January 03:28 PM Iron prices to further decline as EGP levels up

By: Abdullah Bedeir Cairo – Mubasher: Iron prices are expected to further decline in the coming period, Ahmed El-Zeiny, the head of chamber of building materials at the Federation of Egyptian Chambers of Commerce (FEDCOC) told Mubasher. With the …

Macroeconomics

15 January 02:59 PM Amazon orders 40 EVs for deliveries in Germany

Amazon.com has ordered 40 electric vans from Germany’s StreetScooter for deliveries in Munich, Reuters reported.

Global Reports

15 January 02:34 PM Prologic First rolls out 1st comprehensive hospitality cloud solution

Mubasher: The leading technology solutions provider for the hospitality industry Prologic First has launched the first comprehensive hospitality cloud solution for hotel management.

Global Markets brief

The shipment reflects the success of KNPC’s international marketing sector

15 January 02:07 PM KNPC exports first low-sulfur diesel shipment

Mubasher: Kuwait National Petroleum Company (KNPC) announced that the first shipment of low-sulfur diesel (ULSD 10ppm) has been exported through Mina Abdullah refinery to global markets after fulfilling al requirements. The exported 40,000-tonne …

Commodities

15 January 01:45 PM Volvo Cars, China Unicom join forces on 5G technology

Volvo Cars and telecom provider China Unicom have partnered on using fifth-generation (5G) mobile network technology for communication between cars and infrastructure.

Global Economy

15 January 01:33 PM Renault, Nissan facing big questions - GlobalData

The Renault-Nissan alliance is facing mounting challenges with rising tensions, anticipation regarding the Carlos Ghosn case, and the once possible merger now off the table.

Global Reports

15 January 09:37 AM Oman & Emirates Investment reports OMR 1.4m losses in 2019

Abu Dhabi – Mubasher: Oman & Emirates Investment Holding Company (OEIHC) incurred a net loss of OMR 971,000 during the fiscal year (FY) ended 31 December 2019, compared with a net loss of OMR 68,000 in 2018. The parent company’s annual losses …

Financial Results

14 January 09:55 PM OPEC+ may postpone March meeting to June

Mubasher: OPEC and its allies are expected to postpone an upcoming policy meeting from March to June, Reuters reported on Tuesday.

Oil and Energy

UAE’s imports from Brazil hit $2.21bn last year

14 January 06:37 PM Brazil exports $12.2bn worth of goods to Arabs in 2019

Mubasher: Brazilian exports to the Arab world grew 6.3% year-on-year to $12.197 billion in 2019, according to data released on Tuesday by the Arab-Brazilian Chamber of Commerce (ABCC). The value of the UAE’s imports from Brazil hit $2.21 billion …

Macroeconomics