Levant news

The report predicted that only nine countries will form half of the world's population by 2050
23 June 04:38 PM UN raises world population forecasts to 9.8bn by 2050
Mubasher: The world's population is expected to grow to 8.6 billion by 2030, 9.8 billion by 2050 and 11.2 billion by 2100, mainly driven by Africa's rising populations, according to The United Nations' (UN) forecasts. The UN adjusted its previous …
The relocation will result in hundreds of jobs leaving London
23 June 03:51 PM EU to relocate 2 agencies from London
Mubasher: The European Union (EU) on Friday announced it would move the European Medicines Agency (EMA) and European Banking Authority (EBA) out of London by the Brexit deadline, set on 30 March 2019, according to BBC News. The EU will hold a …
Traders at Abu Dhabi's bourse
22 June 08:17 AM GCC bourses likely to see calm trades ahead of Eid Al Fitr - Analysts
By: Mahmoud Gamal Mubasher: The GCC stock markets are expected to see calm trading on Thursday as investors are shying away from building new positions ahead of the Eid Al Fitr holiday, amid the decline of oil prices to their ten-month low, …
The Minister of Investment met with representatives from British companies operating in Egypt
20 June 06:09 PM Egypt saw $43bn of British investments last decade
Cairo - Mubasher: The Egyptian minister of investment and international cooperation said that the investments of British companies in Egypt reached $43 billion in the last ten years. Sahar Nasr added on Tuesday that British companies expressed …
Traders at Saudi bourse
20 June 07:58 AM Saudi, UAE stocks attract institutional, foreign liquidity - Analysts
By: Mahmoud Gamal Mubasher: Institutional and foreign traders tended to invest in mid- and small-cap stocks listed on the Saudi and UAE stock markets, pushing them to rise, analysts told Mubasher. The GCC stock markets are expected to see a …
Qatar sees sharp FDI drop in 2016 - UNCTAD
19 June 05:23 PM Qatar sees sharp FDI drop in 2016 - UNCTAD
Doha – Mubasher: Foreign direct investment (FDI) in Qatar dropped during 2016, according to a report issued by the United Nations Conference on Trade and Development (UNCTAD). FDI in the Gulf state reached $774 million in 2016, compared to $1.071 …
Traders at Boursa Kuwait
19 June 08:15 AM GCC stocks’ trend dependent on oil prices - Analysts
By: Mahmoud Gamal Mubasher: The GCC stock markets are expected to suffer further losses on Monday, amid anticipation of the performance of oil prices, which fell to their lowest level since the beginning of this year, analysts told Mubasher. …
Gulf stock markets should be able to hold well this week
18 June 08:23 AM Stability of GCC bourses bound by oil above $50 pb – Analysts
By: Mahmoud Gamal Mubasher: Gulf stock markets should be able to hold well this week if oil prices recover and remain above $50 per barrel (pb), analysts told Mubasher on Sunday. On Thursday, GCC bourses ended mixed, with the Saudi Stock Exchange …
Kuwaiti crude oil registered $43.73 per barrel
17 June 05:56 PM Kuwait oil up $0.57
Kuwait - Mubasher: The price of Kuwaiti oil increased by 57 cents on Friday, according to the Kuwait Petroleum Corporation (KPC). Kuwaiti crude oil registered $43.73 per barrel (pb) on Friday, compared to $43.16 pb on Thursday, Kuwait News Agency …
Deputy Finance Minister for fiscal policies, Amr Al-Munir
16 June 11:01 AM Egypt signs international tax evasion deal
Cairo – Mubasher: Deputy finance minister for fiscal policies, Amr Al-Munir, signed an international multilateral agreement to prevent tax evasion across the globe, according to a statement. Representing Egypt, he signed the agreement at the …
Traders at Boursa Kuwait
15 June 07:54 AM GCC bourses likely to decline on US interest rate rise
By: Mahmoud Gamal Mubasher: The GCC stock markets are expected to see a sideways-to-bearish performance on Thursday, in line with the US Fed’s vote on 14 June to raise interest rates and volatile global stocks, analysts told Mubasher. The US Fed …
The Central Bank of Egypt
14 June 04:37 PM CBE removes limits on foreign currency transfers
Cairo - Mubasher: The Central Bank of Egypt (CBE) has decided to lift all the barriers on transferring foreign exchange abroad. The CBE added in a statement on Wednesday that it has lifted all limits of foreign currency transfers, which previously …
Egypt fuel consumption hits 91m tonnes in 2016
14 June 03:46 PM Egypt fuel consumption hits 91m tonnes in 2016 - BP
Cairo – Mubasher: Egypt’s consumption of various energy resources rose 4.7% to reach 91 million tonnes of oil equivalent in 2016, compared to 86.7 million tonnes in 2015, according to a report issued by Britain’s BP. Egypt’s oil consumption …
Traders at Boursa Kuwait
14 June 07:59 AM GCC investors likely to trade on mid-, small-cap stocks
By: Mahmoud Gamal Mubasher: Traders in the GCC bourses are likely to invest in mid- and small-cap stocks which stand at attractive price levels on Wednesday, capital market analyst Nawaf Al Ajmi said. The GCC markets saw a volatile performance on …
Crude oil, fuel shipping costs from Qatar rise on port ban
13 June 05:06 PM Crude oil, fuel shipping costs from Qatar rise on port ban
Doha – Mubasher: The costs to ship fuel and crude oil from Qatar are expected to rise after the UAE banned Qatar’s vessels from docking at its ports, Reuters reported, citing sources from the two sectors. Rates are now expected to reach between 75 …
KSA to double natural gas supplies to boost facility operations
13 June 12:57 PM KSA to double natural gas supplies to boost facility operations - Al Falih
Riyadh –Mubasher: The Kingdom of Saudi Arabia aims to double natural gas supplies during the coming decade to raise the level of natural gas utilisation at its public facilities to 70%, Saudi Press Agency (SPA) reported, citing the Saudi minister …
Traders at Boursa Kuwait
13 June 07:56 AM GCC stock markets likely to regain lost ground
By: Mahmoud Gamal Mubasher: The GCC stock markets are expected to see a sideways-to-bullish performance on Tuesday, after Qatar’s foreign minister said that dialogue is his country’s “strategic choice to resolve crisis”, analysts told Mubasher. …
British Prime Minister Theresa May
12 June 07:20 PM British election results to delay Brexit talks - Moody's
Mubasher: Moody's Moody's Investors Service said on Monday that the inconclusive election result in the United Kingdom is likely to delay negotiations about the country's exit from the European Union which could be negative for Britain's credit …
The tender regarded the acquisition of 12.5%-protein wheat
12 June 03:17 PM KSA buys 805,000 tonnes of wheat
Riyadh – Mubasher: The Saudi Grains Organization (SAGO) has purchased 805,000 tonnes of wheat in an international tender at a value of SAR 812,480 ($216.66) per tonne. The tender regarded the acquisition of 12.5%-protein wheat and had closed on 9 …
Omani crude oil registered $47.26 per barrel on Monday
12 June 01:39 PM Oman oil prices up 54 cents
Mubasher: The price of Oman oil futures for August delivery went up by 54 cents per barrel today, according to the data of the Dubai Mercantile Exchange (DME). Data showed that Omani crude oil registered $47.26 per barrel (pb) on Monday, compared …
FDI inflows into the GCC rose 21% to $17.9 billion in 2016 from $14.8 billion in 2015
12 June 09:59 AM UAE, GCC countries to see higher FDIs – KAMCO
Mubasher: Foreign direct investment (FDI) inflows into the UAE and GCC region are expected to see a positive growth on the short-term, backed by the Gulf countries’ efforts to lure investments, according to a report by KAMCO Research The new …
Oil inventories decline to pick up in next 3M
11 June 01:57 PM Oil inventories decline to pick up in next 3M - Al Falih
Riyadh – Mubasher: The decline in crude oil inventories will accelerate in the next three to four months, Reuters reported, citing Saudi Arabia's minister of energy, industry, and mineral resources, Khalid Al Falih. Al Falih said on Sunday that …
The mall includes a Carrefour Market on 1,178 square metres and will offer 117 parking spaces
11 June 12:42 PM Majid Al Futtaim to open new mall in Ras Al Khaimah
Dubai – Mubasher: Majid Al Futtaim plans to open its My City Centre Al Dhait worth AED 68.5 million in Ras Al Khaimah, UAE, next year, according to a statement. The shopping mall comprises 30 stores that span across 5,494 square metres, scheduled …
El-Sisi to attend G20 summit in Germany
11 June 12:31 PM El-Sisi to attend G20 summit in Germany
Cairo – Mubasher: President Abdel Fattah El-Sisi will head to Germany on Sunday to attend the G20 summit under the theme "Investing in a common future”, according to a presidential statement. At the summit, Germany will launch an initiative for …
The Saudi minister of energy, industry and mineral resources, Khalid Al-Falih
10 June 11:34 AM Qatar crisis will not affect OPEC deal - Al Falih
Riyadh - Mubasher: The Saudi minister of energy, industry and mineral resources has ruled out any effect from the diplomatic crisis with Qatar on the OPEC output agreement, as reported by RT. Khalid Al-Falih also told reporters in Astana, the …