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14 December 06:06 PM

Oman news

Oil sector growth will be kept in check
2 hours ago Saudi non-oil growth to average 2.4% in next three years – NBK
Riyadh – Mubasher: Saudi Arabian non-oil growth is expected to reach 2.7% in 2019, amounting to an average of 2.4% in 2020-2022. The growth of the kingdom’s oil sector will be kept in check due to output cuts commitments with OPEC+, a report by …
Macroeconomics
13 December 10:53 PM Oil futures end 89 cents higher on Friday
​​​​​​​Mubasher: Oil futures went up at Friday’s settlement, rising 1.5% for the week, as US President Donald Trump announced reaching a trade agreement with China.
Oil and Energy
13 December 10:45 PM Gold levels up $9 at Friday’s end, records weekly gain
Mubasher: Gold prices grew at Friday’s settlement, rising 1.1% for the week.
Goods and Metals
13 December 07:47 PM US, China agree to stop drums of trade war
Mubasher: The US and China have agreed on an initial trade deal that will reduce tariffs between the two countries.
Global Markets brief
13 December 05:12 PM Global Thermal Paper Market to reach $5.5bn by 2025
Mubasher: The Global Thermal Paper Market’s value is expected to achieve a compound annual growth rate of 8.2% to reach $5.5 billion by 2025.
Global Economy
13 December 03:20 PM Chinese education market to produce $572bn in 4 years
Mubasher: Education market in China is expected to generate $572.51 billion by the end of 2023, expanding at a compound annual growth rate of 11.3%.
Global Markets brief
13 December 02:41 PM World’s rare earths market to hit $5.62bn in 5 years
Mubasher: World's rare earth materials market is projected to reach $5.62 billion by 2025, according to a business data platform.
Global Reports
13 December 12:21 PM Telenor chooses Ericsson to build Norway’s 5G network
Mubasher: Norway’s state-controlled Telenor chose Sweden’s network equipment giant Ericsson as the main provider for its fifth-generation network, the telecoms company said on Friday.
Global Reports
Domestic consumption fell to 31 million tonnes
13 December 11:14 AM Egypt’s petroleum consumption declines 8m tonnes in 4 years
Cairo – Mubasher: Egypt’s domestic petroleum consumption has declined in four years, as a result of the implementation of reforms to the pricing structure of petroleum products, according to petroleum minister Tarek El Molla. Domestic consumption …
Kuwait crude oil settled at $65.60 per barrel
13 December 10:41 AM Kuwaiti oil barrels end Thursday at $65.60 pb–KPC
Mubasher: Kuwait crude oil edged up by $0.26, settling at $65.60 per barrel (pb) on Thursday, Kuwait News Agency (KUNA) said on Friday, citing the Kuwait Petroleum Corporation (KPC). This came after Kuwaiti barrels recorded $65.34 pb in the prior …
Commodities
12 December 06:45 PM GlobalData: 2020 to become the year of instant payments   
While the payments trend focused on technologies like artificial intelligence (AI), the instant bank-to-bank payments systems will lead the payments transformative technology in 2020.
Global Reports
Mohamed ElKasstawi as a speaker during RiseUp Summit 2019
12 December 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 space within the investment and banking sectors, with cryptocurrencies, tokens, and fiat currencies expected to reshape the future of financing as many countries …
12 December 12:50 PM KKR completes acquisition of 70% stake in NVC China
The investment was made from KKR’s Asian Fund III
Global Reports
Tribal Credit recently closed a $5.5 million Seed round
12 December 12:04 PM How startups benefit from blockchain at Tribal Credit – Interview with Mohamed ElKasstawi
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Startups nowadays should look for new ways to boost their business, and one of these ways is using blockchain technologies and digital money. The US-based Tribal Credit, headquartered in Silicon …
Banking and Finance
12 December 12:03 PM Biocorp, Sanofi inks insulin delivery tech deal
Mubasher: France’s Biocorp inked a partnership agreement with pharmaceutical giant Sanofi for the use of the medical device maker’s connected device for insulin pens, Mallya.
Global Reports
Kuwait crude oil closed at $65.34 per barrel
12 December 11:21 AM Kuwait oil declines to $65.34 pb on Wednesday–KPC
Mubasher: Kuwait crude oil inched down by $0.13, to close at $65.34 per barrel (pb) on Wednesday, compared with $64.47 pb in Tuesday’s settlement, the Kuwait Petroleum Corporation (KPC) said. Outside Kuwait, oil prices fell worldwide, after the US …
Commodities
Khalid Al Ballaa, Senior Director and Board Member of Mubasher during ArabNet Riyadh 2019
11 December 07:19 PM Mubasher shares success stories, ambitions at ArabNet Riyadh
Riyadh – Mubasher: ArabNet Riyadh 2019 hosted Khalid Al Ballaa, senior director and board member of Mubasher Financial Services Group, to discuss the company’s success stories, ambitions and the challenges it has faced since the late 1990s. The …
11 December 06:09 PM VoLTE users to reach 5bn in 5 years–Juniper Research
Mubasher: Users of the voice over LTE technology worldwide will grow by 2 billion to reach 5 billion by 2024.
Global Markets brief
11 December 05:36 PM OPEC produces less barrels in November on lower Saudi output
Mubasher: Member states of the Organization of the Petroleum Exporting Countries pumped lower number of barrels in November.
Oil and Energy
GFH's international scale ratings were confirmed at 'BB/B'
11 December 04:02 PM IIRA confirms GFH’s ratings at ‘BB/B,’ ‘stable’ outlook
Mubasher: The Islamic International Rating Agency (IIRA) has confirmed on Wednesday the GFH Financial Group’s international scale ratings at ‘BB/B.’ Furthermore, the group’s national scale ratings were kept at ‘BBB-(bh)/A3-(bh),’ while maintaining …
Khalid Al Ballaa, Assem El-Bassal, and Michel Malkoun
11 December 03:17 PM DMS named Exclusive Media Representatives for Mubasher.info
Riyadh – Mubasher: Digital Media Services (DMS), the digital arm of Choueiri Group, has been recently appointed as the ‘Exclusive Media Representatives’ for Mubasher.info, the Middle East and North Africa’s (MENA) most preferred Arabic-language …
General Assembly
MSC Bellissima will make 17 calls and spend 35 days in Dubai
11 December 12:40 PM DP World, MSC Cruises ink long-term deal to promote tourism
Dubai – Mubahser: DP World has entered into a long-term agreement with MSC Cruises for preferential berthing rights at Mina Rashid in Dubai, strengthening the Geneva, Switzerland-based cruise line’s position as a top passenger cruise operator in …
Companies Investments
Sawiris set the mastering plan for Andermatt
11 December 11:08 AM Except for El Gouna, all projects came by coincidence – Samih Sawiris in RiseUp
By: Ingy ElSafy Cairo -Mubasher: On the final day of the RiseUp Summit 2019, the Egyptian tycoon Samih Sawiris was hosted to talk to the attendees about different topics and events, whether by speaking out on personal or business matters. The …
Macroeconomics
Kuwaiti barrels settled at $65.47 per barrel
11 December 10:41 AM Kuwaiti oil barrels end Tuesday at $65.47 pb–KPC
Mubasher: Kuwait crude oil edged up by $0.6, settling at $65.47 per barrel (pb) on Tuesday, the Kuwait Petroleum Corporation (KPC) said on Wednesday. This came after Kuwaiti barrels recorded $65.41 pb in the prior session, Globally, crude prices …
Commodities
10 December 01:36 PM Rolls-Royce’s biggest shareholder leaves board
Mubasher: UK engineering giant Rolls-Royce said that representative of its largest shareholder ValueAct Capital left its board, according to its website.
Global Markets brief