Levant news

2 July 2019 01:41 PM US threatens to impose tariffs on EU $4bn imports

Mubasher: The US stepped up its pressure on the European Union in a prolonged dispute over aircraft subsidies, proposing to slap additional goods with tariffs.

Global Markets brief

2 July 2019 01:09 PM World’s manufacturers post sharper slump as trade disputes kick in

Mubasher: Manufacturers around the world saw a sharper downturn in June, as per indicated by figures everywhere, against the backdrop of the US-China trade conflict.

2 July 2019 00:28 PM UK construction activity posts second monthly decline in June

Mubasher: The UK construction sector contracted for the second month in a row, as output and new work inflows dropped sharply.

2 July 2019 00:17 PM Eurozone industrial producer prices decline in May

Mubasher: Industrial producer prices inched down by 0.1% in the Eurozone in May.

2 July 2019 00:04 PM Oil rises as OPEC extends cuts, but demand jitters weigh

Mubasher: Oil advanced on Tuesday as the world's major crude producers agreed to extend their output cuts until the first quarter of next year.

2 July 2019 11:00 AM OPEC to extend output cuts for 9M

Mubasher: The Organization of the Petroleum Exporting Countries and allied crude producers agreed to extend oil production cuts to the first quarter of next year.

Global Markets brief

1 July 2019 06:55 PM Russia over-delivers on output cuts in OPEC+ deal in June

Mubasher: Russia cut its oil production in June by more than the amount agreed on with the Organization of the Petroleum Exporting Countries.

1 July 2019 06:13 PM US construction spending falls in May

Mubasher: Spending on US construction projects fell in May, as investment private projects hit its lowest level in around two years and a half.

1 July 2019 05:52 PM US factory activity growth pace hits 2-yr low in June

Mubasher: The US manufacturing sector growth slowed down slightly in June, the Institute for Supply Management said on Monday.

1 July 2019 04:39 PM German jobless rate posts slight decline in June

Mubasher: The number of Germans out of work saw a marginal decline, in June, compared with the previous month, whereas the amount of underemployment increased.

1 July 2019 04:16 PM US economy unlikely to enter into recession in 2 yrs

Mubasher: The US economy is not heading towards a recession during the next two years, according to Arcapita.

1 July 2019 03:13 PM Turkish lira surges as Trump vows no sanctions on Ankara

Mubasher: Turkish lira rallied against the dollar after President Recep Tayyip Erdoğan said that his US counterpart Donald Trump would not impose sanctions against Ankara.

1 July 2019 02:09 PM Gold falls on stronger dollar, US-Sino trade ceasefire

Mubasher: Gold prices tumbled on Monday, recording the lowest level in more than a week as the dollar strengthened.

Goods and Metals

1 July 2019 01:08 PM Chinese factory activity shrinks in June – Caixin

Mubasher: Chinese manufacturing sector shrank for the first time since four months in June, as reports of trade tensions led to a drop in orders.

1 July 2019 00:24 PM Eurozone jobless rate remains at decade-low in May

Mubasher: Eurozone unemployment declined a slight 0.1% to 7.5% month-on-month in May, posting the lowest level since July 2008, official data showed on Monday.

1 July 2019 00:08 PM UK consumer borrowing growth slows down to 5-yr trough

Mubasher: Lending to consumers in the UK extended slowdown during May, with the growth rate hitting its lowest in more than five years.

1 July 2019 11:43 AM UK manufacturing sector decline pace posts 7-yr high

Mubasher: UK manufacturing activity saw a deeper downturn in June, as factories started to see the impact of the unwinding of earlier pre-Brexit stockpiling.

1 July 2019 11:25 AM Eurozone factory activity post fifth monthly decline in June

Mubasher: Eurozone manufacturing activity remained in contraction territory during June, with operating conditions deteriorating for the fifth consecutive month.

1 July 2019 11:14 AM German manufacturing continues to shrink for sixth straight month

Mubasher: The activity of German factories sustained its declining trend in a during June for the sixth consecutive month.

Global Markets brief

1 July 2019 11:02 AM Oil surges on Russian-Saudi agreement on supply cuts

Mubasher: Oil prices on Monday jumped after Russia agreed with Saudi Arabia to continue withholding their supplies for another six to nine months.

28 June 2019 11:21 PM Oil settles lower on Friday; adds 1.8% in week

Mubasher: Oil futures declined at Friday’s settlement, rising 1.8% in a week and over 9% in June.

28 June 2019 10:13 PM Gold ends higher in week, jumps in June

Mubasher: Gold Settled higher on Friday, rising 1% for the week and 7.7% for June.

Goods and Metals

28 June 2019 06:54 PM Apple plans to shift Mac Pro production to China–Report

Mubasher: Apple is aiming to move the manufacturing operations of its new flagship Mac Pro computer to China out of the US.

Global Markets brief

28 June 2019 06:17 PM US to sanction any Iranian oil importer–special envoy

Mubasher: The US would sanction any importer of Iranian oil, the US special envoy for Iran told Reuters on Friday.

28 June 2019 05:21 PM US consumer sentiment retreats from 8M-peak in June

Mubasher: The US consumer confidence declined in late June from the previous month, amidst slower global economic growth.

Global Markets brief