Tawasul
Mubasher TV
Contact Us Advertising   العربية

Local Economy

This is NEOM’s first partnership with leading renewable energy partners
03:47 PM NEOM, ACWA Power, Air Products ink $5bn agreement
Riyadh - Mubasher: Air Products has signed an agreement with ACWA Power, and NEOM for a $5 billion world-scale green hydrogen-based ammonia production facility powered by renewable energy. The project, equally owned by the three partners, will be …
The airline aims to operate nearly 45% of its pre-COVID capacity by August
12:54 PM Etihad Airways to expand services to 58 cities worldwide
Abu Dhabi - Mubasher: Etihad Airways announced the gradual expansion of normal scheduled services to more cities across its global network following the relaxation of COVID-19 travel restrictions on outbound and inbound travel for citizens and …
The offers will be received on Tuesday 12:00 pm
10:49 AM Egypt launches int’l wheat tender
Cairo – Mubasher: The Egyptian General Authority for Supply Commodities (GASC) launched on Monday a global tender to import an unspecified amount of wheat during the period from 8 to 18 August, Reuters reported. The offers will be received on …
Fields in the zone could produce around 500,000 b/d
6 July 11:32 AM Saudi Arabia, Kuwait resume oil output from Al Wafra, Khafji
Mubasher: Saudi Arabia and Kuwait have resumed crude oil production from Al Wafra oilfield on 1 July after it has been halted for five years, the Kuwaiti Ministry of Oil announced on Monday. Meanwhile, crude oil production from Khafji oilfield, …
Aramco raised August prices to all markets
6 July 11:04 AM Saudi Aramco raises August oil prices
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has raised the August official selling prices (OSP) for its Arab light crude oil sold to all markets, Reuters reported on Monday. The oil giant set the August OSP for Asian customers …
Brent crude futures declined 56 cents
1 July 11:31 AM Kuwaiti crude oil increases $1.2 pb on Tuesday
Mubasher: Kuwaiti crude oil prices rose by $1.22 to $36.34 per barrel (pb) on Tuesday, compared to $35.12 on Monday, 29 June, according to Kuwait Petroleum Corporation (KPC). Globally, the crude oil prices fell amid the increasing concerns over …
The price for Octane 91 has been set at SAR 0.98 per litre
1 July 10:45 AM Saudi Aramco adjusts fuel prices after latest VAT hike
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has adjusted the local fuel prices after the decision to increase the value-added tax (VAT) to 15% came into effect on Wednesday.     The oil giant has set the prices for the Octane …
The greenback slid to EGP 16.08 for buying at ALEXBANK and Suez Canal Bank
30 June 04:01 PM USD falls against EGP at local banks on Tuesday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound fell by about EGP 0.02 at local banks on Tuesday. The greenback slid to EGP 16.08 for buying and EGP 16.18 for selling at ALEXBANK and Suez Canal Bank. Meanwhile, the USD …
Mansour Group, from Egypt, came in first place
28 June 03:24 PM Top 100 Arab family businesses include 36 Saudi firms - Forbes
Mubasher: Saudi Arabia has dominated this year’s Forbes Middle East Top 100 Arab Family Businesses, which are seen as the backbone of the region's economy. Saudi Arabia came in the lead with 36 family businesses, followed by the UAE with 21 …
Pilgrims pray around the Kaaba, Hajj 2019 - (Photo Credit: Getty Images)
23 June 11:20 AM Saudi Arabia to limit Hajj this year to citizens, residents
Riyadh - Mubasher: Saudi Arabia has allowed the Hajj for this year to go forward with a small number of pilgrims, limited to citizens and residents aged 65 or younger, who are already in the kingdom, the Saudi Ministry of Hajj and Umrah said in a …
Committed investments in the GCC region increased by 2.3%
16 June 01:09 PM Investments in MENA estimated at $792bn in 5 yrs – APICORP
Mubasher: The Arab Petroleum Investments Corporation (APICORP) estimates that planned and committed investments in the Middle East and North Africa (MENA) region will exceed $792 billion over the next five years from 2020 to 2024. The estimated …
Four refiners had smaller cuts in July when compared with June
15 June 11:19 AM Saudi Aramco decreases July crude supplies to 5 Asia buyers
Riyadh - Mubasher: Saudi Aramco has reportedly decreased the July crude volume that it will supply to at least five Asian buyers, Reuters reported on Monday citing multiple sources. The reductions were primarily made for the medium and heavy …
The GCC region could witness an over $40 billion loss in tourism returns
14 June 03:59 PM UAE's int'l tourism revenue expected to drop by 70% on COVID-19
UAE - Mubasher: The UAE's international tourism returns will slump by $15 billion to $6.4 billion in 2020, compared to $21.4 billion in 2019 due to the coronavirus (COVID-19) outbreak, decreasing by 70%. The number of tourists arriving in GCC …
Global oil prices posted a three-month high on Wednesday
11 June 03:06 PM Kuwait oil price up 13 cents on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil levelled up by 13 cents on Wednesday, reaching $35.46 per barrel (pb), compared to $35.33 pb a day earlier, according to the prices announced by the Kuwait Petroleum Corporation (KPC). Global oil prices …
Saudi Arabia’s maritime needs are set to significantly grow
10 June 02:51 PM Shipbuilding expected to boom on GCC energy ambitions
Mubasher: As regional energy companies try to solidify their oil and gas market share over the long term, competition in the Arabian Gulf region amongst national oil companies (NOCs) to establish global energy dominance has paved the way for a …
Global oil prices advanced by around 2% on Tuesday
10 June 12:05 PM Kuwait’s crude oil down to $35.33 pb – KPC
Mubasher: The price of Kuwait’s crude oil amounted to KWD 35.33 per barrel (pb) on Tuesday, down by $2.19 from KWD 37.52 pb a day earlier, according to the prices released by the Kuwait Petroleum Corporation (KPC). Global oil prices advanced by …
Global oil prices dropped by more than 3% on Monday
9 June 11:35 AM Kuwait’s oil price rises to $37.52 a barrel - KPC
Mubasher: The price of a barrel of the Kuwait crude oil jumped by $2.18 on Monday, reaching $37.52 when compared to $35.34 last Friday, according to the official prices released by the Kuwait Petroleum Corporation (KPC). At the global level, oil …
Photo Archive
7 June 06:14 PM Saudi-GCC trade down 14% in Q1-20
Riyadh – Mubasher: Trade exchange between Saudi Arabia and member countries in the Gulf Cooperation Council (GCC), namely the UAE, Bahrain, Kuwait, and Oman, decreased by 14% during the first quarter (Q1) of 2020. Saudi-GCC trade exchange amounted …
The greenback advanced to EGP 16.17 for buying at AAIB
7 June 04:11 PM EGP slides to lowest level against USD since October 2019
By: Heba El-Kordy Cairo – Mubasher: The Egyptian pound exchange rate continued its declining trend against the US dollar, nearing the lowest level since 21 October 2019, according to data compiled by Mubasher. For the second week in a row, the USD …
The oil exports represented 93.28% of Kuwait's total exports
4 June 04:36 PM Kuwait's oil exports slump to KWD 3.61bn in Q1-20
Mubasher: Kuwait's exports of crude oil and basic petroleum products declined by 20.31% year-on-year (YoY) to KWD 3.61 billion ($11.74 billion) during the first quarter (Q1) of 2020, compared to KWD 4.53 billion ($14.74 billion) in the year-ago …
Borg El-Arab Petroleum and Mineral Company drilled El Salmiya-5 well
3 June 11:14 AM Egypt makes new oil discovery in Western Desert
Cairo – Mubasher: Egypt has made a new oil discovery in Abu Senan area in the Western Desert. The discovery was made after Borg El-Arab Petroleum and Mineral Company drilled El Salmiya-5 well which started to produce 4,100 barrels of crude oil and …
Brent futures were up by $1.25 on Tuesday
3 June 09:29 AM Kuwait’s crude oil nears $34 pb on Tuesday - KPC
Mubasher: The price of Kuwait’s crude oil settled higher by 89 cents on Tuesday to reach $33.9 per barrel (pb) when compared to $33.01 pb a day earlier, according to the official prices of the Kuwait Petroleum Corporation (KPC). Global oil prices …
Egypt aims to purchase 3.6 million of wheat from local farmers
2 June 05:57 PM Egypt buys 120K tonnes of Ukrainian wheat
Cairo – Mubasher: The Egyptian General Authority for Supply Commodities (GASC) announced the purchase of 120,000 tonnes of wheat sourced from Ukraine. The shipment will take place between 10 and 25 July, according to a statement on Tuesday. …
KPMG - Saudi Arabia
2 June 04:53 PM M&A deals in GCC expected to grow amidst COVID-19 – Report
Riyadh – Mubasher: A recent report by KPMG is expecting merger and acquisition (M&A) deals in Saudi Arabia and other Arabian Gulf countries to increase amid the coronavirus disease (COVID-19) pandemic. With many small and medium-sized enterprises …
Women currently outnumber men at universities in 15 Arab countries
2 June 04:44 PM Women's wealth in Middle East at $786bn with further growth expected
Mubasher: Women currently represent 13% of the Middle East wealth segment, with dramatic growth to be seen in the region during the coming years, according to a recent report by the Boston Consulting Group (BCG). Women's wealth in the Middle East …