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Levant news

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.
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%.
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.
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
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.
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.
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.
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.
19 June 03:14 PM UK factory orders drop in June as auto production falters
Mubasher: New UK factory orders dipped amidst stoppages in auto manufacturing, due to uncertainty about when the country would separate from the European Union.
The royal decree shall come into effect starting June 2019
19 June 02:54 PM Oman allows tax breaks for tourism investments in Musandam
Mubasher: Oman’s tourism minister has welcomed the new Royal Directive issued by Sultan Qaboos bin Said to grant tax exemptions to any new investor who is interested in establishing a tourist project in Musandam. By implementing this new decree, …
FAB conducts its business in accordance with the highest professional standards
19 June 01:22 PM FAB closes operations in Qatar, relinquishes QFC branch licence
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) will shut down its operations in Qatar as it has notified the Qatar Financial Centre Regulatory Authority (QFCRA) that it will relinquish its Qatar Financial Centre (QFC) branch licence and …
19 June 01:13 PM UK house price growth posts more slowdown in April
Mubasher: Annual house prices in the UK grew slower during April, a joint statement by the Office for National Statistics and the Land Registry said.
19 June 12:38 PM Gold slips on US-Sino trade deal optimism, dovish ECB
Mubasher: Gold dipped on Wednesday amid re-kindled hopes of a trade deal between the US and China and dovish signals from the European Central Bank.
19 June 12:11 PM UK output prices grow slightly slower in May
Mubasher: Producer price index (PPI) for the goods leaving UK factories recorded 1.8% in the year ended May, down from 2.1% compared with the year.
19 June 11:59 AM Eurozone current account surplus shrinks in April
Mubasher: The Eurozone’s current account surplus contracted in April compared with March, while posting a year-on-year drop over the 12-month period ended the reported month.
19 June 11:38 AM Oil rises amid US-Sino trade deal prospects, dovish ECB signals
Mubasher: Oil futures saw gains on Wednesday, buttressed by re-ignited hopes for a trade pact between the US and China.
19 June 11:38 AM UK consumer inflation slows down slightly in May
Mubasher: The UK’s consumer price index (CPI), the headline gauge for the country’s inflation, ticked down to 2% year-on-year in May, from 2.1% in April.
Brent crude -August futures- levelled down by 2.1%
19 June 11:05 AM Kuwaiti crude oil down 64 cents on Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil declined by 64 cents on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). The Kuwaiti oil decreased to $61.03 per barrel (pb) on Tuesday compared to $61.67 pb on Monday. At …
19 June 10:47 AM Japanese exports post sixth monthly drop in May
Mubasher: Japanese exports continued to drop for the sixth month in a row, as China-bound shipments faltered, indicating pressure from slowing external demand.
18 June 11:36 PM Tweet on US-China trade talks boosts oil at Tuesday’s finish
Mubasher: Oil futures climbed at Tuesday’s settlement, the highest front-month contract close since 7 June.
18 June 10:23 PM Gold ends higher on Tuesday
Mubasher: Gold went up at Tuesday’s settlement, marking the highest level since 18 April.
18 June 06:04 PM US, China officials to restart trade talks before G20–Trump
Mubasher: President Donald Trump on Tuesday said that US and Chinese officials would restart trade negotiations.
18 June 05:32 PM Facebook confirms new crypto debut in 2020
Mubasher: Facebook unveiled plans for its new global cryptocurrency, to be released next year.
18 June 04:12 PM UK fintech Finastra names new CFO
Mubasher: Banking technology giant Finastra on Tuesday announced the appointment of Mark Miller, a seasoned executive, as its CFO, effective from 13 May.