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The health condition of those infected in UAE is stable
11:42 AM UAE reports first coronavirus case in Middle East
UAE – Mubasher: The UAE’s Ministry of Health and Prevention announced on Wednesday the first case of new coronavirus in the UAE, being the first to be unveiled in the Middle East. This case was registered for members of a family arriving from the …
Brent futures rose by 19 cents on Tuesday
11:01 AM Kuwait oil crude down to $60.15 pb on Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil slipped by $3.42 on Tuesday, 29 January, to settle at $60.15 per barrel (pb) from $63.57 pb on Friday, according to Kuwait Petroleum Corporation’s (KPC) official prices.        Globally, oil prices …
28 January 09:10 PM Renault appoints VW executive as new CEO
​​​​​​​Mubasher: French Automaker Renault on Tuesday named former Volkswagen executive Luca de Meo as new CEO, according to the New York Times.
28 January 05:59 PM Rising concerns over coronavirus weigh on global auto industry  
Mubasher: Rising concerns over an outbreak of coronavirus in China have dimmed the economic outlook for several sectors, mainly the automotive industry, according to GlobaData.
28 January 03:06 PM Juniper Networks revenue rises 4% in 2019
Juniper Networks reported preliminary financial results for the three months and fiscal year ended 31 December 2019.
27 January 04:24 PM Chinese health insurance seen to surpass $136.6bn in 2022–GlobalData
Mubasher: The Chinese health insurance sector is forecast to grow to CNY 921.1 billion ($136.6 billion) in 2022.
27 January 03:54 PM India expects fall in tax revenues
Corporate and income tax revenues in India are expected to decline in 2020, for the first time in more than 20 years.
Saudi Minister of Energy, Prince Abdulaziz bin Salman
27 January 12:35 PM Saudi Arabia monitors impact of coronavirus outbreak on oil market
Riyadh – Mubasher: Saudi Arabia is closely monitoring developments in the global oil market resulting from concerns about the coronavirus outbreak and its impact on China and the global economy, according to the Saudi Minister of Energy, Prince …
Kuwait’s oil economy slipped by 1% in 2019
27 January 11:49 AM Kuwait’s GDP down to 0.7% in 2019 on lower oil sector growth – IMF
Mubasher: The International Monetary Fund (IMF) on Monday stated that Kuwait’s gross domestic product (GDP) slowed to 0.7% in 2019 from 1.2% in 2018, pressured by lower oil prices and output, despite the growing non-oil sector. Kuwait’s real oil …
Total Saudi merchandise exports slipped by 14.9% in November 2019
26 January 01:50 PM Saudi oil exports dip 15.4% in November - GaStat
Riyadh – Mubasher: Recent data from the Saudi Arabia General Authority for Statistics (GaStat) showed a 15.4% year-on-year (YoY) decrease in Saudi oil exports in November 2019. Oil exports retreated to SAR 62.3 billion in November last year from …
25 January 07:23 PM Oil prices to soften in 2020 as geopolitical tension mitigated
Mubasher: Global oil prices are expected to decline during the first six months of 2020, according to a report released on Saturday by the NBK.
24 January 06:48 PM Fear arises as Brexit impact on power sector still unclear
Mubasher: The UK’s power sector is drowning in uncertainty, as investors anticipating risks and impacts associated with the beginning of the post-Brexit era.
23 January 06:19 PM Global hydrocarbon investments to focus on LNG in 2020
Mubasher: The final investment decisions (FIDs) in the oil and gas sector are expected to be focused on liquefied natural gas (LNG) projects during 2020.
23 January 05:33 PM E-commerce market in India may top $91bn in 2023 -GlobalData
Mubasher: India’s overall e-commerce market value is forecast to top INR 6.3 trillion ($91 billion) in 2023, according to GlobalData.
23 January 05:01 PM ‘Jatri’ app seeks to attract MENA investors to Bangladesh
Mubasher: Jatri has raised an undisclosed amount of seed funding backed by Dubai-based Falcon Network and Tahseen Consulting as well as other global angel investors.
23 January 04:49 PM African agriculture market shifts to mechanisation, ready for expansion
Mubasher: The $2.9 billion agriculture tractor market in Africa is expected to achieve a compound annual growth rate of 5.1% from 2019 to 2024.
23 January 03:32 PM Moody’s takes over risk intelligence technology leader RDC for $700m
Mubasher: Moody’s Corporation signed an agreement to acquire Regulatory DataCorp (RDC) for $700 million.
Brent crude was down by 2.1% or $1.38 on Wednesday
23 January 12:22 PM Kuwait oil slips to $65.66 pb on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil dipped by 2 cents on Wednesday, 22 January, to settle at $65.66 per barrel (pb) from $65.68 pb a day earlier, according to the official prices announced by Kuwait Petroleum Corporation (KPC). Globally, oil …
22 January 07:27 PM US’ Hilco Redevelopment Partners buys $240m refinery in Philadelphia
Mubasher: American real estate developer Hilco Redevelopment Partners has sealed a $240 million deal to buy the Philadelphia Energy Solutions oil refinery.
22 January 05:04 PM China likely to further pressure global LV sales in 2020
Mubasher: The world’s light vehicle (LV) sales fell to 89.8 million in 2019, its lowest level since 2015, declining by 4.8% year-on-year from 94.3 million.
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22 January 01:10 PM Aramco agrees LNG sale to S-Oil
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has reportedly sold a liquefied natural gas (LNG) cargo to South Korea’s S-Oil Corporation, through its trading arm Aramco Trading Company. The cargo was sold at around $4.40-$4.60 …
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22 January 11:01 AM Mubadala Petroleum completes farmout in 2 Indonesian blocks
UAE – Mubasher: Mubadala Petroleum announced the completion of an agreement to farmout a 20% participating interest in the Andaman I and South Andaman blocks in Indonesia to the UK’s Premier Oil following the approval of the Indonesian government. …
21 January 04:43 PM Kia Motors to invest $25bn in EV development by 2025
Mubasher: Kia Motors Corporation announced its mid- to long-term strategy, ‘Plan S’, which aims to strengthen the company’s leading position in the future automotive industry.
21 January 04:24 PM Facebook to create 1,000 jobs in London this year
Mubasher: Facebook is planning to hire 1,000 people in London in 2020, the company’s vice president for the EMEA Nicola Mendelsohn stated on Tuesday.
21 January 03:49 PM New EU rules pose challenge for car manufacturers - GlobalData
The industry will see a highly competitive year with new EU CO2 rules coming into effect