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12 minutes ago Oil leaps on US demand rebound, OPEC meeting date
Mubasher: Oil jumped on Thursday as fuel demand seemed to improve in the US, the world’s biggest consumer, while major producers agreed to a date.
Egypt agreed to purchase 180,000 tonnes of Romanian wheat
16 minutes ago Egypt buys 290,000 tonnes of imported wheat
Cairo – Mubasher: Egypt’s ministry of supply and internal trade, represented by the state-run General Authority for Supply Commodities (GASC), has signed a contract to purchase 290,000 tonnes of wheat. The most populous Arab nation has agreed to …
DWC came 19th internationally
26 minutes ago National aviation to add $88.1bn to UAE GDP by 2030
UAE – Mubasher: The national aviation sector’s contribution to the UAE’s GDP is expected to reach AED 323.6 billion ($88.1 billion) by 2030, the Airport Council International (ACI) said, according to the Emirates News Agency (WAM). Dubai World …
SAMI aims at raising local production in the defence sector
1 hour ago SAMI, ST Engineering pen MoU to explore business opportunities
Riyadh – Mubasher: The Saudi Military Industries Company (SAMI) and Singapore-based global technology, defence, and engineering group ST Engineering signed a memorandum of understanding (MoU) on the sidelines of the Paris Air Show in a bid to …
FOMC decided to maintain interest rates in the range of 2.25% to 2.5%
2 hours ago UAE C.bank maintains interest rate
UAE – Mubasher: The Central Bank of the UAE (CBUAE) decided to keep the current interest rate, following the US Federal Reserve’s decision of maintaining interest rate. On Wednesday, the US Federal Reserve Open Market Committee (FOMC) has decided …
19 June 11:25 PM Lower US stockpiles pressure oil at Wednesday’s finish
Mubasher: Oil futures ended in the red territory on Wednesday, as US data showed lower crude oil inventories.
Trade surplus declined to SAR 119.5 billion in Q1
19 June 11:00 PM Saudi Arabia’s trade surplus goes up 3% YoY in 4M
By: El Sayed Gamal Riyadh – Mubasher: Saudi Arabia has achieved a 3% year-on-year growth in trade surplus during the first four months of 2019, reaching SAR 167.2 billion ($44.58 billion). In April, the kingdom’s trade surplus grows to SAR 47.66 …
19 June 09:49 PM Gold levels down at Wednesday’s settlement
Mubasher: Gold ended lower on Wednesday after Fed decided to maintain interest rates.
19 June 09:35 PM Fed holds interest rates, pledges to closely monitor economy
Mubasher: The United States Federal Reserve Open Market Committee (FOMC) has decided to maintain interest rates in the range of 2.25% to 2.5%.
OPEC's members and allies will meet on 1 and 2 July
19 June 07:51 PM UAE backs extension of oil output cut agreement – Minister
UAE – Mubasher: The UAE is supporting the extension of OPEC+ output cut agreement, energy minister Suhail Al Mazroui said. The extension is required due to the increase in the inventories of some counties, especially the US, he added, according to …
19 June 07:00 PM US considers sanctions against Turkey over S-400 missile deal– Report
Mubasher: The US administration was weighing three various rounds of sanctions against Turkey over Ankara’s purchase of Russian missile defence systems, Bloomberg reported.
Economy ministry will preside over UAE-South Africa Business Forum
19 June 06:54 PM UAE eyes more cooperation, stronger presence in Africa
UAE – Mubasher: A high ranking delegation from the UAE’s Ministry of Economy (MoE) is participating in the upcoming Africa Trade Week held in Johannesburg from 23 to 25 June. The delegation includes undersecretary of the MoE foreign trade affairs …
19 June 05:54 PM Harley-Davidson to make smaller bikes in China
Mubasher: Harley-Davidson agreed with Geely majority-owned Qianjiang to manufacture a new smaller model bicycle, according to Reuters. The US giant chose Qianjiang, citing its experience
The financial impact of the deal will be positive
19 June 05:45 PM Bawan’s units close $4.5m merger
Riyadh – Mubasher: The shareholders of Bawan Company has announced that two of its subsidiaries signed a SAR 17 million ($4.53 million) merger agreement. United Transformers Electric Company (UTEC) and United Technology Of Electric Substations & …
19 June 05:37 PM US oil stockpiles drop 3.1m barrels in June’s second week
Mubasher: US crude oil stockpiles dropped by 3.1 million barrels to 482.4 million barrels in the week ended 14 June, the Energy Information Administration said.
The deal’s financial impact cannot be determined now
19 June 05:18 PM Metal and Recycling inks $9.5m contract with health ministry
Mubasher: Metal and Recycling has signed a KWD 2.88 million ($9.49 million) bid licence contract with the Kuwaiti Ministry of Health. Under the 10-year contract, the Boursa Kuwait-listed company will undertake the establishment, maintenance, …
TASI decreased by 64.17 points
19 June 05:05 PM Saudi indices end Wednesday with negative performance
Riyadh – Mubasher: The Saudi Stock Exchange’s (Tadawul) benchmark Tadawul All-Share Index (TASI) closed Wednesday’s trading session with negative performance. TASI decreased by 64.17 points, or 71%, to finish the session at 8,936.26 points. TASI’s …
19 June 05:01 PM OPEC to hold policy meeting in early July
Mubasher: The Organization of the Petroleum Exporting Countries announced that its members and allies would hold their meeting on 1 and 2 July.
Naphtha cracker has a capacity of 1.2 million tonnes per year
19 June 04:43 PM Saudi Aramco, Malaysian Petronas start naphtha cracker operations at JV refinery
Riyadh – Mubasher: State-run Saudi Aramco, known formally as Saudi Arabian Oil Co., and Malaysian oil company Petroliam Nasional Bhd, Petronas, have started the operations of naphtha cracker at new Pengerang refinery, Reuters reported. The naphtha …
Total exports to the GCC state recorded AED 7.725 billion in Q1-19
19 June 04:20 PM Abu Dhabi trade exchange with GCC up 7.7% in Q1
By: Enas Bahgat Abu Dhabi – Mubasher: Abu Dhabi’s total trade exchange with the GCC countries rose by 7.7% year-on-year to AED 18.222 billion in the first quarter of 2019 from AED 16.918 billion, according to Mubasher statistics. Total exports to …
DAE owns 15 Boeing 777 freighters.
19 June 04:02 PM DAE Capital closes leasing agreement for three Boeing 777 freighters
UAE – Mubasher: Dubai Aerospace Enterprise’s leasing unit, DAE Capital, and Russia’s AirBridgeCargo on Wednesday signed a purchase and leaseback agreement with PDP financing for three factories new Boeing 777 freighter aircraft. The new jets will …
The industry sector topped the decliners with 0.28%
19 June 03:55 PM Boursa Kuwait ends Wednesday in red
Mubasher: The indices of Boursa Kuwait closed Wednesday’s trading session in red territory, for the second session in a row, pressured by the fall of six sectors. The Main Market index retreated by 0.23%, while the All Share and Premier market …
19 June 03:52 PM Infor launches new app to optimise hoteliers’ pricing decisions
Mubasher: Enterprise software giant Infor on Wednesday announced that it would offer this summer an application that will help better pricing decision for hoteliers.
Trading volume amounted to around 46.377 million shares
19 June 03:33 PM ADX ends Wednesday in green; market cap adds AED 6.5bn
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) rose at the end of Wednesday’s trading session on the back of the rising blue-chip stocks. The ADX’s general index closed the session up by 1.27% at 4,974.84 points. Trading volume …
19 June 03:27 PM Apple weighs shifting 15%-30% of output capacity from China–Report
Mubasher: Apple asked its key suppliers to assess the cost implications of moving 15% to 30% of their production capacity to Southeast Asia.