Top News

3 hours ago Bank of England keeps interest rates unchanged, expects longer recovery

Mubasher: The Bank of England (BoE) maintained interest rates steady, but warned that the economy could take longer to recover from the coronavirus (COVID-19) crisis.

Global Reports

10:01 AM US, China to review trade deal mid-August

The senior US and Chinese officials will come together on 15 August via videoconference to review the first phase of the bilateral trade deal.

Global Reports

09:58 AM Thomson Reuters reports lower quarterly earnings

Thomson Reuters Corp on Wednesday said it saw slightly lower revenue and an 18% slump in operating profit during the second quarter of 2020.

Global Reports

5 August 02:02 PM Beirut explosion causes $3-5bn damages – Governor

Mubasher: The massive blast that shook the Lebanese capital on Tuesday caused between $3 billion and $5 billion worth of damage.

Global Reports

4 August 02:49 PM Nestlé reports 9.5% drop in H1 sales

Nestlé said its total sales fell 9.5% in the first six months of 2020 to stand at CHF 41.2 billion.

Global Reports

4 August 02:12 PM BP reports $16.8bn quarterly losses, slashes dividends

Energy giant BP on Tuesday reported losses of $16.8 billion for the second quarter (Q2) of 2020.

Global Reports

4 August 12:42 PM Kuwaiti investor plans to buy A.S. Roma

Mubasher: Kuwaiti businessman Fahad Al Baker announced that he has submitted an offer to acquire A.S. Roma, a football club in Italy. “I can now confirm that we have submitted an offer to Mr. Pallotta for the acquisition of A.S. Roma,” the …

Companies Investments

4 August 09:34 AM Saudi customs relaxes restrictions for GCC trucks

Riyadh – Mubasher: Saudi Customs has eased the precautionary measurements imposed on trucks arriving from GCC countries, allowing those carrying goods for the kingdom to enter via land ports. However, truck drivers will be checked for COVID-19 …

Macroeconomics

The FDI inflow to the Arab region could shrink by more than 21% in 2020

3 August 12:09 PM Saudi Arabia is most attractive GCC destination for FDI in Q1

Riyadh – Mubasher: The number of new foreign direct investment (FDI) projects launched by GCC states to other countries went down by 8% in the first quarter (Q1) of 2020 to stand at 70 projects valued at $4.9 billion. The projects’ investment cost …

Sector Reports

3 August 11:02 AM Fashion sector represents 42% of Forbes’ Women Behind Middle Eastern Brands 2020 list

Mubasher: This year’s Women Behind Middle Eastern Brands 2020 featured female trailblazers who managed to sustain their successful brands and push the boundaries despite the COVID-19 pandemic. The list, launched initially last year by Forbes, …

Companies Investments

2 August 06:02 PM Siemens Healthineers to acquire Varian for $16.4bn

Mubasher: German health group Siemens Healthineers signed a deal to acquire the US Varian Medical Systems Inc in an all-cash transaction worth $16.4 billion.

Global Reports

30 July 04:31 PM TikTok to offer creators $2bn in next three years

TikTok is planning to give its creators over $2 billion in the next three years.

Global Reports

The new plane is the last one of this model

30 July 11:25 AM EgyptAir receives eighth Airbus A320neo plane

Cairo – Mubasher: EgyptAir has received its eighth Airbus A320neo family plane at the Cairo International Airport, coming from the Airbus factory in Toulouse in France, the chairman of EgyptAir Holding Company, Mohamed Roshdy Zakaria, announced. …

Global Economy

29 July 05:57 PM GE posts wider than expected loss in Q2

General Electric Co (GE) lost less than expected cash in the second quarter (Q2) of the year.

Global Reports

29 July 05:55 PM Investors value TikTok at $50bn for takeover

TikTok has been valued at around $50 billion by some investors planning to control the social media application.

Global Reports

The acquisition will help Oman Insurance to expand

29 July 10:28 AM Oman Insurance fully acquires Dubai Starr Sigorta

Dubai – Mubasher: Oman Insurance Company has fully acquired Dubai Starr Sigorta A.S after buying an additional 49% of the issued and outstanding share capital, according to the company's disclosure to Dubai Financial Market (DFM) on Wednesday. In …

Mergers and Acquisitions

28 July 04:25 PM Ex-Renault boss named as Jaguar Land Rover next CEO

Jaguar Land Rover (JLR) has named Renault's ousted boss, Thierry Bollore, as its next CEO.

Global Reports

28 July 04:22 PM Global remittance transfers to decline 20% in 2020

Countries most dependent on global remittance transfers will face credit risks in 2020 due to the expected drop in such inflows.

Global Reports

27 July 05:11 PM Deutsche Bank to stop coal mining financing by 2025

Mubasher: Deutsche Bank has tightened its policy on fossil fuels, saying that it will end its business activities regarding coal mining worldwide by 2025.

Global Reports

The sensor could be used in NASA's next Venus rover

20 July 03:51 PM Egyptian engineer wins NASA design competition

By: Moslem Ali Cairo - Mubasher: Egyptian engineer Youssef Ghali has won first place in a competition by NASA to design a sensor for a Venus exploration rover. The public competition was seeking ideas for a mechanical obstacle-avoidance sensor …

The Hope Probe Mission will provide images of Mars

20 July 12:41 PM UAE successfully launches first Arab interplanetary mission

UAE - Mubasher: The UAE's Hope probe, the first Arab interplanetary mission, was successfully launched from Japan's Tanegashima Space Centre aboard a Mitsubishi H-IIA rocket on Monday at 1:58 am (UAE Time) to begin its journey to Mars. The …