Middle east news

45 minutes ago Gold settles lower, records weekly gains
The precious metal saw some selling pressures as the USD neared its highest level in two months
51 minutes ago Renewables in India to grow 5% by 2022
Rising interest rates are putting a question mark on the viability of solar projects
4 hours ago Goldman Sachs forecasts 5 more Fed rate hikes
Goldman believes the Federal Reserve needs to generate a significant tightening in financial conditions
5 hours ago Robust aero, warehouse automation sales boost Honeywell Q3 profit
Mubasher: Honeywell International Inc on Friday reported better-than-expected profits for the third quarter of this year
04:39 PM InterContinental Hotels revenue up 1% in Q3
Mubasher: InterContinental Hotels Group PLC on Friday posted a 1% year-on-year increase in the comparable revenue per available room for the third quarter of 2018.
04:05 PM P&G Q1 sales beat estimates
Mubasher: Procter & Gamble Co (P&G) on Friday reported a robust rise in sales for the first quarter of this year
03:36 PM Volkswagen begins operation at China EV plant
Mubasher: Volkswagen AG on Friday announced it has commenced construction work on a $2.45 billion plant in Shanghai to produce electric cars and battery systems
03:14 PM State Street Q3 profit up 13%, misses estimates
Mubasher: State Street Corp. reported a 13% year-on-year growth in profits for the third quarter of 2018
02:58 PM Schlumberger logs $644m profit in Q3
Mubasher: The US-based energy giant Schlumberger Ltd on Friday reported a net income of $644 million, or 46 cents per share, for the third quarter
02:35 PM UK public borrowing hits 11-yr low in September
Mubasher: The UK’s public sector net borrowing, excluding banks, slipped by GBP 800 million year-on-year in September to GBP 4.1 billion
01:35 PM Eurozone’s current account sees EUR 24bn surplus in August
Mubasher: The current account of the Eurozone increased by nearly EUR 5 billion in August, recording a surplus of EUR 24 billion.
01:07 PM China's Q3 GDP growth weakest since 2009
Mubasher: China’s economic growth slowed down to its weakest quarterly pace since 2009 amid escalating trade tensions between the country and the US.
New app to manage Egypt’s chronic street garbage
12:09 PM New app to manage Egypt’s chronic street garbage
Mubasher: Environ-Adapt has created a new application, Dawar, in collaboration with the Egyptian Ministry of Environment and GIZ Egypt to manage massive garbage in the streets of Egypt. Dawar enables users to report any street garbage to waste …
11:40 AM Japan's CPI rises 1.2% in September
Mubasher: Japan's consumer price index grew by 1.2% year-on-year in September amid surging energy costs.
11:14 AM Volvo Q3 profit rises 38%
Mubasher: Volvo AB posted a 38% year-on-year growth in net profit for the third quarter of this year, beating analysts’ forecast of SEK 6.9 billion.
10:36 AM Oil prices edge up Friday amid China-US trade war
Mubasher: Oil prices leveled up on Friday on the back of signs indicating a rise in China’s demand
12:00 AM Oil prices fall to 5 week-low
Nymex futures for November delivery dropped 1.6%
The Egyptian Minister of Finance, Mohamed Maait
18 October 11:14 PM Egypt’s debt service to surpass EGP 800bn
Cairo - Mubasher: Egyptian public debt installments will exceed EGP 800 billion in fiscal year 2018/2019, according to finance minister Mohamed Maait. The minister told reports on Thursday that interests will amount to EGP 541 billion, with …
18 October 10:59 PM Gold restores $1,230 level
The yellow metal received a strong support after the Chinese stock exchange fell to its lowest level since 2014
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18 October 07:48 PM TASI registers 1.6% in weekly gains
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) saw a positive performance this week, supported by a group rise by the market’s three main sectors. The Tadawul All Shares Index (TASI) added 1.56% or 117.35 points, as it ended the week’s …
The Egyptian Exchange
18 October 07:41 PM EGX recovers, ends week on positive note
Cairo - Mubasher: The Egyptian Exchange (EGX) returned to gains in the third week of October, recovering from a steep decline in the week before. The benchmark index EGX30 recovered most of its previous week losses as it settled on weekly gains of …
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18 October 06:39 PM SODIC shareholders to benefit from Madinet Nasr acquisition
Cairo - Mubasher: MubasherTrade Research is recommending Buy with “Low Risk” on the stock of Sixth of October Development and Investment Company (SODIC) with a price target (PT) of EGP 33.5 per share. SODIC announced that its board of directors …
The DFM grew 0.09% or 16.23 points to close at 2,757.73 points in a week
18 October 06:35 PM Real estate pushes DFM up in week
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index grew 0.09% or 16.23 points to close at 2,757.73 points in the week ended Thursday, 18 October. Around 1.026 billion shares were traded during the week, generating AED 964.932 …
ADX's general index  gained 0.42% or 20.96 points to close at 4,967.77 points in a week
18 October 06:29 PM ADX edges higher in week on par with real estate stocks
By: Bedour El Raie Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index gained 0.42% or 20.96 points to close at 4,967.77 points in the week ended Thursday 18 October, led by the real estate and telecom sectors During the …
Dubai’s real estate sector provides the best sought-after incentives alongside the most attractive propositions for investors
18 October 06:22 PM High GDP per capita, infrastructure projects boost Dubai’s property investment – Emaar
Dubai –Mubasher: Investment in the premium residential real estate in the emirate of Dubai still guarantees a robust return for overseas investors on the back of high gross domestic product (GDP) per capita and ambitious investments in building …