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The Kuwaiti economy is still dependent on oil
20 July 06:21 PM S&P affirms Kuwait’s credit rating at ‘AA’; outlook stable
Mubasher: Standard and Poor's (S&P) has kept Kuwait’s credit rating at ‘AA’ with a stable outlook, the Kuwait News Agency (KUNA) reported on Saturday. The global rating agency stated that it could raise that rating if Kuwait conducted a broad …
Oil prices rose in the second quarter of 2019
20 July 04:43 PM Kuwait’s non-oil economy to grow by 2.5% in 2019
Mubasher: While the growth of the global economy became more and more subject to many questions and doubts, the Kuwaiti economy maintained its stability, achieving a slight margin of improvement. Kuwait’s GDP grew by 2.6% year-on-year in the first …
19 July 11:45 PM Oil increases at Friday’s settlement   
Mubasher: Oil futures ended higher on Friday, falling 7.6% for the week.  
19 July 10:21 PM Gold finishes down on Friday
Mubasher: Gold fell at Friday’s settlement, gaining 1% for the week.
Saudi oil output fell by 137,000 bpd in May
19 July 09:00 PM Saudi Arabia’s crude oil exports marks 13M-low in May
Riyadh – Mubasher: Saudi Arabia’s crude oil exports declined to 6.94 million barrels per day (bpd) in May 2019, recorded the lowest level since October 2017. The kingdom’s exports dropped by about 240,000 barrels per day (bpd) in May 2019, from …
19 July 07:02 PM India gov’t mulls loans from foreign banks for small firms
Mubasher: The Indian government was in talks with foreign lenders to extend up to $14.5 billion lines of credit to millions of its small firms.
19 July 05:10 PM US consumer confidence stands firm in early July
Mubasher: Initial estimates by the University of Michigan indicated that the US consumer sentiment slightly grew virtual change during the first half of July.
19 July 04:39 PM UK lawmakers see indecision on Huawei hurting international relations
Mubasher: The next UK prime minister should urgently decide on the part which Huawei would take in the fifth-generation networks.
19 July 03:26 PM Microsoft’s quarterly profit climbs 49%
Mubasher: Microsoft said that its net income climbed by 49% year-on-year in the fourth quarter of its 2019 fiscal year, while revenue rose by 12%.
19 July 02:49 PM Boeing to take $5bn charge over 737 Max crisis
Mubasher: Boeing would deal an around $5 billion blow in the second quarter due to the worldwide grounding of its 737 Max jets.
19 July 02:20 PM US, China hold phone talk second time since Trump-Xi meeting
Mubasher: US and Chinese top officials held phone talks this week, the second call since a late June meeting.
19 July 01:05 PM Iran captures crude carrier near Hormuz Strait–state media
Mubasher: Iran captured a foreign-flagged oil carrier near the strategic Strait of Hormuz, the state-owned media outlets announced.
19 July 12:44 PM IEA rules out ‘huge increase’ in oil prices
Mubasher: The International Energy Agency dismissed the possibility of a significant rally in oil prices, citing a slowing demand growth and global market oversupply.
19 July 12:25 PM Gold retreats from 6-yr peak amid dovish Fed, ME tensions
Mubasher: Gold prices declined on Friday as investors took advantage of the bullion’s nearly six-year peak to book profits.
19 July 11:41 AM UK public borrowing rises in June
Mubasher: The UK’s public sector net borrowing, excluding public banks, rose by GBP 3.8 billion to GBP 7.2 billion ($8.98 billion) in June.
19 July 11:29 AM Eurozone current account surplus grows in May
Mubasher: The Eurozone’s current account surplus expanded in May compared with April, but saw a year-on-year drop over the 12-month period ended the reported month.
19 July 11:08 AM Oil jumps after US Navy hits Iranian drone
Mubasher: Oil prices climbed on Friday as tensions erupted again in the Middle East after a US Navy ship hit an Iranian drone.
19 July 12:09 AM Oil settles lower on Thursday  
Mubasher: Oil futures went down at Thursday’s settlement, as US natural gas inventories grew.
18 July 11:04 PM Gold ends higher on Thursday
Mubasher: Gold went up at Thursday’s settlement, which is its highest level in six years.
18 July 07:08 PM US Treasury rules out change to dollar policy
Mubasher: US Treasury Secretary dismissed any change in the dollar policy “as of now,” yet did not exclude the possibility of a policy shift.
18 July 06:09 PM Philadelphia Fed manufacturing gauge posts 1-yr peak in July
Mubasher: The Philadelphia Federal Reserve on Thursday said that its gauge on the US Mid-Atlantic business activity climbed to its highest level since a year.
18 July 05:33 PM US natural gas inventories climb as prices rise
Mubasher: The US natural gas storage increased by 62 billion cubic feet in the week ended 12 July, to a total of 2,533 Bcf.
18 July 05:23 PM Huawei’s European phone sales plunge in June – Kantar
Mubasher: Huawei’s smartphone sales in Europe tumbled in June, when the Chinese tech behemoth’s access to essential handset software was jeopardised by Washington’s supply ban.
18 July 04:28 PM Renault to assemble, sell vehicles in Nigeria
Mubasher: Renault plans to assemble two low-cost vehicles in Nigeria within the framework of a partnership with local conglomerate Coscharis.
18 July 03:57 PM Amazon faces EU antitrust probe; risks $23bn fine
Mubasher: The European Union opened a formal antitrust investigation whether the online retailer was using sales data to win a competitive edge over smaller sellers.