Middle east news

58 minutes ago Oil settles lower after mixed performance
The American Petroleum Institute (API) is scheduled to issue its weekly report later.
2 hours ago Gold records first gains in four days
Concerns regarding the Turkish economic crisis are cooling down
3 hours ago Brexit deal should be flexible - Merkel
German Chancellor Angela Merkel said on Tuesday that any agreement between the United Kingdom and the European Union should be flexible
4 hours ago US household debt nearly triples in Q2
This is the 16th consecutive quarter of increases
Photo Archive
5 hours ago Amana Cooperative Insurance applies for capital hike
Riyadh - Mubasher: Amana Cooperative Insurance has filed a request to the Capital Markets Authority of Saudi Arabia (CMA) to raise its capital. Amana is seeking to increase its capital, and it has appointed the National Commercial Bank’s NCB …
14 August 06:24 PM 22 killed after highway bridge collapses in Italy
At least 22 people were killed after a motorway bridge collapsed on torrential rains that hit buildings in north Italy on early Tuesday.
The company’s revenue also declined to AED 261.5 million in H1-18
14 August 06:18 PM Abu Dhabi Ship Building’s profit tumbles in 6M
Abu Dhabi – Mubasher: Abu Dhabi Ship Building (ADSC) has reported a 92.6% year-on-year drop in net profit during the first six months of 2018, recording AED 3.7 million. The company’s revenue also declined to AED 261.5 million in H1-18 versus AED …
The company’s revenue surged 20.23%
14 August 05:51 PM Foodco Holding posts AED 48.56m profit in 6M
Abu Dhabi – Mubasher: Foodco Holding has reported a 1% year-on-year increase in net profit during the first six months of 2018, recording AED 48.56 million. The company’s revenue surged 20.23% to AED 196.2 million in H1-18 versus AED 176 million …
Photo Archive
14 August 05:41 PM SAPTCO’s subsidiary obtains SAR 59m loan
Riyadh - Mubasher: Saudi Public Transport Company (SAPTCO) announced on Tuesday that its subsidiary Public Transport Company has acquired a SAR 59 million murabaha finance for six months from the Arab National Bank. The murabaha loan deal will …
Revenue went down to AED 66.47 million in Q2-18
14 August 05:39 PM Al Qudra Holding posts 56.5% profit decline Q2
Abu Dhabi – Mubasher: Al Qudra Holding has reported a 56.5% year-on-year slump in net profit during the second quarter of 2018, recording AED 37.24 million. Revenue went down to AED 66.47 million in Q2-18 versus AED 125.09 in the year-ago period, …
14 August 05:33 PM US import inflation accelerates to 6.5-yr high in July
The costs of the US import remained flat in July after declining in June.
Revenue also increased to AED 516.606 million in H1-18
14 August 05:22 PM Manazel Real Estate’s net profit leaps 135% in H1
Abu Dhabi – Mubasher: Manazel Real Estate Company has reported a 135% year-on-year hike in net profit during the first six months of 2018, recording AED 132.867 million. The company’s revenue also increased to AED 516.606 million in H1-18 versus …
Total losses reached SAR 994.46 million ($265.2 million) in Q2-18
14 August 05:19 PM 40 Tadawul-listed firms end Q2 down
By: Thabet Shehata Riyadh – Mubasher: Forty companies listed on the Saudi Stock Exchange (Tadawul) registered losses during the second quarter of 2018. Total losses reached SAR 994.46 million ($265.2 million) in Q2-18, according to Mubasher's …
14 August 05:03 PM Erdogan urges Turks to boycott US electronics     
Turkish President Recep Tayyip Erdogan on Tuesday stated that his country will boycott US electronic products, including Apple’s iPhones.
Market capitalisation lost EGP 6.99 billion and closed at EGP 860.48 billion
14 August 04:59 PM EGX ends Tuesday in red; market cap sheds EGP 6.99bn
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session in red territory, dragged down by Arab and foreign sell-off. The benchmark EGX30 index fell 1.06%, finishing the session at 15,356.81 points. The small- and mid-cap …
In the first half of 2018, the company logged KWD 3.67 million in profits
14 August 04:34 PM Al Kout Industrial Q2 profits slide 21%
Mubasher: Al Kout Industrial Projects on Tuesday posted a 20.7% year-on-year decline in profits for the second quarter of 2018. Net profit amounted to KWD 1.57 million ($5.18 million) in Q2-18, versus KWD 1.98 million ($6.54 million) in the …
The deficit in the services balance went up to KWD 1.9 billion
14 August 04:31 PM Kuwait’s current account hits KWD 1.7bn in Q1
Kuwait – Mubasher: Kuwait’s current account surged to KWD 1.7 billion ($5.58 billion) in the first quarter of the fiscal year 2018/2019, its highest level in three years, compared to KWD 1.2 billion in the previous quarter.   The Kuwaiti trade …
KAMCO intends to buy around 396.43 million shares from Global
14 August 04:30 PM KAMCO to acquire 70% of Global Investment House
Mubasher: KAMCO Investment (KAMCO) on Tuesday announced receiving the approval of the Capital Markets Authority (CMA) to acquire the majority of Global Investment House (Global). KAMCO intends to buy around 396.43 million shares from Global, which …
Ream Real Estate Q2 profits slump 70%
14 August 04:10 PM Ream Real Estate Q2 profits slump 70%
Mubasher: Ream Real Estate Co on Tuesday reported a 69.8% year-on-year decline in net profits for the second quarter of 2018, recording KWD 72,420 ($238,930) from KWD 240,16 ($792,340). Operating revenues fell by 36.6% in the three-month period …
TASI rose 20.39 points, or 0.26%, to finish the mid-week trading session at 7893.18 points.
14 August 04:08 PM TASI breaks 4-session low, Nomu falls at Tuesday's close
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) ended the downwards trend on Tuesday after four consecutive declines, despite recording the lowest liquidity level in 13 sessions. The Tadawul All Shares Index (TASI) rose 20.39 points, or …
Net losses amounted to KWD 2.58 million in Q2-18
14 August 04:08 PM IFA Hotels Q2 losses fall 28%
Mubasher: IFA Hotels and Resorts (IFA) on Tuesday posted a 28% year-on-year drop in its losses for the second quarter of 2018. Net losses amounted to KWD 2.58 million ($8.15 million) in Q2-18, compared to KWD 3.57 million ($11.78 million) in …
Revenue rose to EGP 50.04 million in the six-month period ended June
14 August 03:49 PM Prime Holding profits hike 94% in 6M
Cairo – Mubasher: Prime Holding on Tuesday posted a 94% year-on-year surge in consolidated profits for the first half of 2018, recording EGP 19.62 million from EGP 10.1 million. Revenue rose to EGP 50.04 million in the six-month period ended June, …
14 August 03:47 PM US small business owner morale hovers record high in July
Positive sentiment among US small businesses saw an improvement in July, recording the second highest level in history.
Net profit stood at EGP 271 million in the three-month period ended June
14 August 03:33 PM TMG Holding Q2 profit rises 5%
Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) on Tuesday reported a 4.6% year-on-year increase in consolidated profits for the second quarter of 2018. Net profit stood at EGP 271 million in the three-month period ended June, versus …
Aldar Properties soared 3.66%
14 August 03:13 PM ADX goes up 30 pts Tuesday
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchanges’ (ADX) general index grew 29.23 points, or 0.61%, to close at 4,830.22 points on Tuesday. The ADX’s trading volume reached 201.35 million shares, while the market’s liquidity recorded AED …