Palestine news

16 February 03:24 PM US mulls halting GE engine deliveries to China's new aircraft

Mubasher: The US government is mulling a proposal to stop exporting jet engines co-manufactured by General Electric Co to China.

Global Reports

15 February 07:29 PM Royal Bank of Scotland plans rebranding, cutting investment-banking business

Mubasher: Royal Bank of Scotland Group (RBS) has unveiled plans to change its name to NatWest Group, according to MarektWatch.com.

Global Reports

13 February 04:50 PM Tesla may float $2bn shares to strengthen balance sheet

Mubasher: American electric vehicle and clean energy company Tesla Inc. is planning to raise $2 billion through a public share offering.

Global Markets brief

13 February 01:15 PM MWC 2020 cancelled over coronavirus worries

The Mobile World Congress (MWC) scheduled to be held in Barcelona on 24-27 February 2020 has been cancelled

Global Reports

Global prices increased by 2.5% on Wednesday.

13 February 10:54 AM Kuwait’ oil up $1.28 on Wednesday – KPC

Mubasher: Kuwait’s crude oil price increased by $1.28 on Wednesday, 12 February, to finish at $56.14 per barrel (pb) as compared to $54.86 pb a day earlier, according to the official prices of Kuwait Petroleum Corporation (KPC). On the global …

Macroeconomics

12 February 12:09 PM Kuwait oil crude down 21 cents on Tuesday

Mubasher: The price of Kuwait’s oil fell by 21 cents on Tuesday to $54.86 per barrel (pb), compared to $55.07 pb a day earlier, according to the official prices of the Kuwait Petroleum Corporation (KPC). Global oil prices rose yesterday, …

Commodities

11 February 06:06 PM UAE’s TIME Hotels eyes expansion into Tatarstan

TIME Hotels is currently considering investment opportunities in Tatarstan, located 800 kilometres east of Moscow at the confluence of the Volga and Kama Rivers.

Global Reports

11 February 12:45 PM Kuwait’s oil slides to $55.07 pb on Monday – KPC

Mubasher: The price of Kuwait crude oil dipped by $1.01 on Monday, 10 February, to stand at $55.07 per barrel (pb) from $56.08 pb last Friday, according to official data from Kuwait Petroleum Corporation (KPC). Globally, prices fell to their …

Macroeconomics

Kuwait Super Light Crude prices for March are $1.75 less than this month

11 February 11:02 AM Kuwait cuts March oil prices to Asia by $0.6

Mubasher: Kuwait has reduced the official selling price (OSP) for its crude oil exported to Asia for March by 60 cents when compared to the previous month, Reuters reported on Tuesday. The new exporting premium stood at $1.35 per barrel (pb) to …

Commodities

10 February 05:47 PM Volvo Cars mulls merger with Geely Automobile Holdings

Mubasher: Volvo Cars currently considers a merger with Geely Automobile Holdings Limited to create a global carmaker with presence across key markets.

Global Markets brief

10 February 05:26 PM Nissan halts production facility in Japan due to coronavirus

Nissan Motor Company will reportedly halt production at its manufacturing plant in the Japanese southwestern city of Kyushu starting from 14 February 2020

Global Reports

Remittances from Egyptians working abroad increased to $6.71 billion

10 February 04:59 PM Egyptian pound records highest level in 3 years

Cairo - Mubasher: The Egyptian pound traded at EGP 15.66 to the US dollar on Monday, compared to EGP 15.69 on Sunday, registering its three-year highest level, Reuters reported. The pound has gained its strongest level since Egypt weakened the …

Currencies

10 February 02:28 PM L Brands in talks to sell Victoria’s Secret

Mubasher: L Brands is close to seal a deal to sell its Victoria’s Secret brand to private equity company Sycamore Partners.

Global Reports

9 February 06:32 PM Toyota partners with Panasonic to develop car batteries

Mubasher: The Car manufacturer Toyota has partnered with Panasonic to form the joint venture (JV), ‘Prime Planet Energy & Solutions’, to manufacture car batteries.

Goods and Metals

Egypt’s gold reserves increased to $3.424 billion

9 February 02:57 PM Egypt’s gold reserves up $123m in January amid coronavirus worries

Cairo – Mubasher: Gold reserves in Egypt rose in January for the second month in a row as concerns about the spreading coronavirus fuelled safe-haven demand. Egypt’s gold reserves increased by $123 million to $3.424 billion in January from $3.301 …

Commodities

9 February 01:48 PM US not planning to acquire Nokia, Ericsson

The US government has denied it could buy controlling interests in Nokia and Ericsson, two of the main rivals to Huawei Technologies

Global Reports

9 February 12:13 AM VW may resume operations in China late February

Mubasher: Volkswagen (VW) has postponed restarting production at its plants in China until 17 February 2020, as the coronavirus outbreak becomes fiercer.

Global Reports

OPEC producers may meet earlier than scheduled

8 February 05:50 PM Oman backs deeper oil output cut until June-end

Mubasher: Oman is supporting the recommendations made by an OPEC+ Joint Technical Committee (JTC) for a short, deeper oil output cut until the end of June, the GCC country’s oil minister Mohammed bin Hamad al-Rumhy announced, as Reuters reported …

Macroeconomics

7 February 08:13 PM Zimbabwean corn Imports hit 11-yr high amid drought, economic collapse

Mubasher: Zimbabwe’s white corn imports from South Africa hit its highest weekly level in 11 years, Bloomberg reported on Friday.

Global Reports

6 February 10:19 PM OPEC+ may propose more output cut as coronavirus impacts demand

Mubasher: OPEC+ JTC is set to propose a cut of 600,000 bpd in output, in response to the coronavirus’ impact on global energy demand.

Global Markets brief

6 February 02:18 PM Total divests interest in LNG terminal operator

Total has sold its 27.5% stake in Fosmax LNG to Elengy in a deal worth around $260 million.

Global Reports

6 February 01:17 PM Total, India’s AGEL to form joint venture at $500m

Mubasher: Total is expanding its partnership with Adani Green Energy Limited (AGEL), India's largest privately-owned energy and infrastructure conglomerate.

Oil and Energy

Global oil prices finished higher by more than 2% on Wednesday

6 February 11:55 AM Kuwaiti crude down $0.29 Wednesday; global futures rise

Mubasher: The price of Kuwait’s crude oil slipped by 29 cents on Wednesday to settle at $55.39 per barrel (pb) from $55.68 pb a day earlier, according to the official prices of the Kuwait Petroleum Corporation (KPC). Global oil prices were higher …

Commodities