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The per-litre price of Super 98 gasoline will be maintained at AED 1.91
28 May 05:31 PM UAE announces fuel prices for June
UAE – Mubasher: Fuel prices will remain unchanged in June in the UAE when compared to prices in May, the UAE Fuel Price Follow-up Committee announced. The per-litre prices of Super 98-octane gasoline, Special 95-octane gasoline, diesel, and E-Plus …
Commodities
Brent crude oil for July delivery retreated by 4.6% or $1.65
28 May 10:58 AM Kuwait’s crude oil down to $28.05 pb – KPC
Mubasher: The price of Kuwait’s crude oil fell by 56 cents to $28.05 per barrel (pb) on Wednesday from $28.61 pb on Tuesday, according to the official prices released by Kuwait Petroleum Corporation (KPC). Globally, Brent crude oil for July …
Commodities
The global oil market has been supported by OPEC’s output cut deal
27 May 05:57 PM Kuwait’s crude oil rises $2.14 pb on Tuesday - KPC
Mubasher: The price of Kuwait’s crude oil reached $28.61 per barrel (pb) on Tuesday, 26 May, up by $ 2.14, compared to $26.47 pb last Friday, according to the official prices released by Kuwait Petroleum Corporation (KPC). The global oil market …
Commodities
Photo Archive
26 May 02:43 PM Oman crude oil up 68 cents on Tuesday
Mubasher: The price for Omani crude oil for July delivery increased by 68 cents on Tuesday, according to the Dubai Mercantile Exchange (DME). The barrel price amounted to $37.70 on Tuesday, compared to $37.02 on Monday. The price for June …
Commodities
Saudi Aramco is currently the most profitable company worldwide
26 May 11:02 AM World's top 2,000 list includes 40 Arab companies; Aramco ranked 5th
By: Amal A. Wahaab Mubasher: This year's Forbes Global 2000 list saw the inclusion of 40 companies from the Arab world in the magazine's ranking of the world's top 2,000 companies, based on assets, profits, revenues, and market value.  Oil giant …
Global Economy
Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla
25 May 01:41 PM Egypt plans EGP 19bn investments in petrochemical projects
Cairo - Mubasher: The Egyptian Ministry of Petroleum and Mineral Resources is considering the implementation of 11 new petrochemical projects at a total value of around EGP 19 billion, Minister of Petroleum and Mineral Resources Tarek El-Mulla …
Companies Investments
Photo Credit: Saudi Press Agency (SPA)
24 May 11:29 AM Saudi Arabia to invest in Iraq’s Akkas gas field
Mubasher: Saudi companies plan to invest in Iraq’s Akkas gas field, as per a recent agreement between the two countries, Reuters reported. Both countries are also cooperating to ensure restoring the global oil market balance, in line with the …
International Agreements
Hotels in five governorates could reopen after receiving the safety certificate
24 May 11:13 AM Egypt grants health safety certificates to over 70 hotels
Cairo - Mubasher: More than 70 hotels in Egypt last week have received the health safety certificate, which is necessary for resuming their operations, according to Egypt’s tourism and antiquities minister. Receiving the certificate came after …
Sector Reports
Egypt's production of natural gas increased to 7 bcf in September
24 May 10:41 AM Egypt's natural gas production reaches 7.2 bcf per day
Cairo - Mubasher: Egypt's daily production capacity of natural gas reached an average of 7.2 billion cubic feet (bcf), Reuters reported citing a recent statement by the Egyptian cabinet. In September, Egypt's production of natural gas increased to …
Commodities
HMM Algeciras containership's length is around 400 metres
24 May 10:29 AM World's largest container to cross Egypt's Suez Canal
Cairo - Mubasher: The Suez Canal will receive South Korea's HMM Algeciras, the world's largest containership, the Egyptian Ministry of Transport announced in a recent statement. The 24,000-TEU-class vessel will pass through the canal as after …
Total fatalities in Kuwait increased to 129 on Thursday
21 May 02:54 PM Kuwait registers 1,041 more COVID-19 cases on Thursday
Mubasher: Kuwait on Thursday reported 1,041 new infections of the coronavirus (COVID-19), bringing the total count to 18,609 cases, according to the country's health authorities. Total recoveries have increased by 320 in the past 24 hours to stand …
Global Economy
Global oil prices jumped by 5% on Wednesday
21 May 12:00 PM Kuwait’s crude oil down 3 cents on Wednesday – KPC
Mubasher: The price of a barrel of Kuwait’s crude oil settled lower by 3 cents on Wednesday to stand at $26.89 when compared to $26.92 a barrel a day earlier, according to the official prices released by the Kuwait Petroleum Corporation (KPC). …
Macroeconomics
David Parker - co-chief Investment officer for the Financial Services sector at EDB
21 May 11:39 AM GCC sees growing trend for fintech platforms amid COVID-19 crisis
Mubasher: The GCC region is set for a big leap in the use of financial technology applications amid the coronavirus (COVID-19) outbreak with the Middle East and Africa (MEA) region witnessing a 70% growth in the use of contactless payments, …
Banking and Finance
Disinfection gates pose health risks to people
21 May 11:26 AM Disinfection gates proving ineffective against coronavirus
Mubasher: Sterilisation gates and rooms placed at the entrance of public places have not proven their effectiveness in curbing the spread of the highly contagious coronavirus (COVID-19), assistant secretary at the Kuwaiti Ministry of Health, …
Global Economy
The new solution provides accurate diagnostic results
21 May 09:47 AM Kuwaiti researchers develop new COVID-19 PCR test
Mubasher: A Kuwaiti research team has successfully developed a Polymerase Chain Reaction (PCR) test solution for the new coronavirus (COVID-19), Kuwait News Agency (KUNA) reported. The new test has excellent and accurate diagnostic results …
Global Economy
Ministry of Health - Saudi Arabia
20 May 04:07 PM KSA announces 2,691 COVID-19 cases Wednesday
Riyadh – Mubasher: Saudi Arabia has registered 2,691 new coronavirus (COVID-19) cases on Wednesday. The total number of cases increased to 62,545, the Ministry of Health daily report showed. On the other hand, 1,844 recovering cases were reported, …
Global Economy
COVID-19 recoveries in Kuwait grew by 204 on Wednesday
20 May 02:58 PM Kuwait's coronavirus tally reaches 17,568 on Wednesday
Mubasher: Kuwait on Wednesday announced 804 new coronavirus (COVID-19) infections and 204 new recoveries, taking the country's total count to 17,568 cases and 4,885 recoveries, according to an official statement by the Ministry of Health. The GCC …
Global Economy
Global oil prices fell on Wednesday
20 May 01:25 PM Kuwait’s crude oil up 34 cents on Tuesday - KPC
Mubasher: Kuwait’s crude oil price inched up by 34 cents on Tuesday to finish at $26.92 per barrel (pb) from $26.58 pb a day earlier, according to the official prices released by Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
Commodities
Kuwait's death toll from COVID-19 increased to 121 on Tuesday
19 May 03:04 PM Kuwait reports 1,073 coronavirus cases on Tuesday
Mubasher: The number of confirmed cases of coronavirus (COVID-19) in Kuwait rose to 16,764 on Tuesday, with 1,073 people diagnosed with the novel disease in the last 24 hours, according to an official statement by the Ministry of Health. Death …
Global Economy
The UAE registered 1,214 recoveries
19 May 02:14 PM UAE confirms 873 new COVID-19 cases
UAE – Mubasher: The UAE has detected 873 new coronavirus (COVID-19) cases after conducting more than 38,000 new tests, the UAE Ministry of Health announced on Tuesday. Hence, the total number of cases reached 25,063 across the country. The UAE …
Global Economy
Brent futures for July leaped by 7.1% on Monday
19 May 11:49 AM Kuwait’s crude oil rises to $26.58 a barrel Monday - KPC
Mubasher: The price of a barrel of Kuwait’s crude oil amounted to $26.58 on Monday, up by 82 cents when compared to $25.76 a barrel last Friday, according to the official prices released by the Kuwait Petroleum Corporation (KPC). Global oil prices …
Commodities
COVID-19 cases in the kingdom reached 57,345
18 May 04:12 PM Saudi Arabia announces 2,593 coronavirus cases on Monday
Riyadh – Mubasher: The Saudi Ministry of Health has reported on Monday 2,593 new coronavirus (COVID-19) cases. On the other hand, 3,026 recovering cases brought the total number of recoveries to 28,748, while the death toll from the virus in the …
Global Economy
A total of 11,234 patients are currently receiving treatment at hospitals
18 May 02:59 PM Kuwait reports 841 new coronavirus cases, 246 recoveries
Mubasher: The number of new coronavirus (COVID-19) cases in Kuwait jumped by 841 on Monday to reach 15,691 cases, the health ministry said on its official Twitter page. In the meantime, Kuwait’s death toll from the new coronavirus increased by six …
Global Economy
Egypt aims to purchase 3.6 million tonnes of local wheat this season
18 May 02:01 PM Egypt’s strategic food reserves sufficient for 5M
Cairo – Mubasher: Egypt’s strategic reserve of staple commodities is sufficient for the coming five months, minister of supply and internal trade Aly El-Meselhy said. The government aims to increase its stock of key commodities in order to achieve …
Macroeconomics
The price of Oman oil hiked by $18.3 per barrel on Friday
18 May 12:23 PM Oman crude oil price doubles since output cut came into effect
Mubasher: The price of Oman crude oil futures has doubled since the oil production cut agreement by the OPEC+ group and other major producers was applied in time for May deliveries. On Friday, 15 May, the price of Oman oil hiked by $18.3 per …
Macroeconomics