Middle east news

12:48 AM Trump wants Fed to stop interest hikes  
Mubasher: The President of the United States hopes that the Federal Reserve will not be raising interest rates anymore
12:40 AM US budget deficit up 48% in November 
The United States saw a jump in the budget deficit in November, due to an increased public spending.
12:34 AM Oil settles with big gains 
Oil prices ended today's trading session on a higher note supported by plans by major producers to cut crude output
12:26 AM Gold settles lower Thursday 
Gold prices declined on Thursday, with the US dollar showing a strong performance against major currencies
Bahrain's government is currently working on a raft of policies to prop up startups
13 December 09:20 PM Bahrain eyes becoming innovative hub for startups in GCC- EDB
By: Mohammad Shokhba Cairo – Mubasher: Bahrain is seeking to be the innovative hub for startups in the GCC region, Mohamed Hejres, senior manager of investors relations and government affairs at the Bahrain Economic Development Board (EDB), said. …
13 December 09:10 PM Hermes expects CBE to lower interest 2% 
EFG Hermes expects interest rates in Egypt to decline by 2% next year
13 December 08:48 PM EGX recovers, ends week in gains 
The Egyptian Exchange (EGX) ended the second week of December on a positive note, recovering some of its recent losses
13 December 06:34 PM US natural gas storage drops as prices surge
The US natural gas inventories dropped by 77 billion cubic feet (Bcf) in the week ended 7 December to a total of 2,914 Bcf.
13 December 06:30 PM ECB’s head sees economic risks ‘moving to downside’
The European Central Bank President Mario Draghi warned that economic risks facing the Eurozone are now “moving to the downside.”
13 December 06:11 PM Egypt’s budget deficit up 20% in Q1
Mubasher: A recent report by the Egyptian finance ministry showed an increase in budget deficit by 20% during the first quarter
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13 December 06:09 PM Moody's confirms CBD ratings
Dubai - Mubasher: Moody's Investors Service has confirmed the ratings of Commercial Bank of Dubai (CBD), but changed the outlook on the long-term deposits ratings to negative from ratings under review.  The ratings stand at Baa1 long-term deposit …
13 December 05:47 PM QSE loses 142 pts in week
Market capitalisation went down 0.96% to QAR 589.63 billion
13 December 05:46 PM ADX ends week in red; market cap hits AED 490.24bn
The energy sector topped the ADX’s decliners falling 3.19%
13 December 05:45 PM DFM breaks 4th weekly drop, ends in green
The services sector topped the bourse’s gainers adding 8.9%
13 December 05:44 PM Jumeirah opens 1st ‘eco-conscious’ resort in Abu Dhabi
The resort offers an environmentally-sensitive holiday destination
13 December 05:33 PM Boursa Kuwait posts negative performance in week
13 December 05:21 PM Ream Real Estate names chairman, deputy
13 December 05:10 PM Saudi GAZT, Al Khaleej Training ink SAR 23m deal
Saudi GAZT, Al Khaleej Training ink SAR 23m deal
13 December 05:00 PM US weekly jobless claims drop 27,000 in early December
US unemployment claims dropped 27,000 week-on-week to 206,000 claims in the week ended 8 December, data released on Thursday showed.
13 December 04:50 PM US import prices record largest drop in 3 yrs
The costs of the US import dropped in November, helped mainly by lower fuel prices, data released on Thursday showed.
13 December 04:35 PM TASI hits 8-session high, Nomu surges 71 pts Thursday
TASI hits 8-session high, Nomu surges 71 pts Thursday
The acquisition gives the European dairy giant full ownership of a cheese production site in Bahrain
13 December 04:34 PM Danish Arla Foods to acquire Mondelez International’s ME cheese business
Mubasher: Danish dairy group Arla Foods has reached a deal with US Mondelez International to acquire its processed cheese business in the Middle East region. The acquisition gives the European dairy giant full ownership of a cheese production site …
Boubyan’s total assets enlarged by 20.9% to KWD 555.48 million in 6 months
13 December 04:30 PM Boubyan Petrochemical Q2 profits surge 182%
Mubasher: Boubyan Petrochemical said that its profits enlarged by 182.4% during the second quarter ended October compared to the same period last year. Earnings soared to approximately KWD 761,970 ($2.51 million) in Q2 ended on 31 October 2018 …
Managing director of Philip Morris Misr and Levant Vassilis Gkatzelis
13 December 04:16 PM Philip Morris injects $4.5bn in smoke-free products development - Interview
By: Abdullah Bedeir  Cairo – Mubasher: Philip Morris International (PMI) has invested over $4.5 billion into research, development, and commercialisation of smoke-free products. PMI is looking to offer smokers reduced risk products instead of …
13 December 04:14 PM Saudi Tanmiyat, BEC to complete $100m Dubai towers in 2019
Dubai towers comprise more than 500 residential and commercial units