Levant news

Gulf Cable closed Thursday’s session at 420 fils
11 minutes ago Gulf Cable’s subsidiary wins $6.3m tender in Jordan
Mubasher: Gulf Cable and Electrical Industries Co – Jordan, a 94.5%-owned subsidiary of the Kuwaiti company Gulf Cable and Electrical Industries, was awarded a tender offered by Jordan Electric Power Co. The tender contract is valued at KWD 2.77 …
26 minutes ago Australia’s Qantas marks record turnaround in 6M
Qantas Airways reported record profits in the six months ended December 2017
1 hour ago China may surpass US as top nuclear energy nation –IEA
China is likely to overtake the US as the world's largest producer of nuclear energy by 2030, according to an IEA official
2 hours ago Banque de France, IMF ink $2.9bn loan to low-income countries
The Banque de France and the International Monetary Fund (IMF) have signed a contract with the aim of funding nations suffering from low income
2 hours ago Fed bears out optimism about higher growth
Mubasher: The US Federal Reserve expects higher growth rates than it previously forecast, which could allow for higher interest rates, according to BBC World News.
2 hours ago German business morale drops in February
Gross domestic product (GDP) of Europe's biggest economy is expected to increase 0.7% in the first quarter of 2018
2 hours ago UK GDP rises 0.4% in Q4
The UK has revised its gross domestic product (GDP) for the fourth quarter of 2017 to an increase of 0.4%
2 hours ago Host Hotels to acquire 3 hotels in US for $1bn
The contract comes with a $25 million deposit at-risk
4 hours ago Barclays incurs GBP 1.9bn losses in 2017 
Barclays suffered losses during 2017, due to the US tax reform programme, whereas it achieved pretax profits
Global oil prices decreased before announcing the U.S. inventories
5 hours ago Kuwait’s crude oil down 62 cents on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil dropped 62 cents to settle at $60.8 per barrel (pb) on Wednesday compared to $61.42 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
21 February 06:57 PM US business activity marks 27 month-high in February
Mubasher: US business activity rose in February, recording its highest level in 27 months, on the back of both the manufacturing and the services sectors.
21 February 06:12 PM Russia's c.bank cuts interest rates as inflation drops 
Russia's central bank reduced its key interest rate to 7.5% during February, registering its lowest level since mid-2014
21 February 06:09 PM Stock market’s sell-off is just “appetiser” - Morgan Stanley
The nine-year bull run reaches its final stages, the US leading global financial services firm warned investors.
21 February 05:14 PM GBP falls on disappointing data
The British unemployment rate rose to 4.4%, with extra 46,000 unemployed people during the three-month period ended December 2017
21 February 02:54 PM UK gov’t borrowing hits lowest in January
In January 2018, public sector borrowing, excluding banks stood at GBP 7.2 billion in the period from April to the end of January.
21 February 01:19 PM UK’s unemployment rises in December 
Unemployment ratio in the UK increased month-on-month in the three-month period which ended in December 2017, despite expectations of remaining stable
21 February 01:18 PM Spain’s Barcelona to achieve EUR 1bn in sales
Mubasher: Spain's football team FC Barcelona is expected to achieve a total sales of EUR 1 billion ($1.2 billion) ahead of schedule.
21 February 12:47 PM Orange's sales rise in 2017, but profits fall
Orange on Wednesday posted an increase in its sales for 2017
21 February 12:37 PM Eurozone growth falls from 12-yr-high in February
Eurozone PMI fell in February from a month earlier
21 February 12:18 PM Lloyds sees GBP 3.46bn profits in 2017
Lloyds Banking Group's profits increased in 2017, as well as the bank implemented buyback of share at GBP 1 billion.
21 February 12:03 PM German PMI slows in February; employment picks up
Germany PMI for the private sector extended its strong performance in February although the rate of growth had slowed down from January.
21 February 11:49 AM Oil prices fall amid concerns of higher US output
Oil prices fell on Wednesday ahead of preliminary data pertaining to US crude production, coinciding with a strong dollar.
21 February 11:33 AM France's private sector PMI grows in February
France's PMI for the private sector extended its growth in February
21 February 11:10 AM Accor Hotels profits rise in 2017 on strong key-market business
Accor Hotels has announced an uptick in net profits for the full year 2017 on the back of strong business from its key markets
21 February 10:46 AM Switzerland's LafargeHolcim to invest CHF 200m in India
LafargeHolcim has announced plans to bolster its presence in India through a CHF 200-million cement plant