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10 April 03:16 PM

Middle east news

24 July 2019 05:56 PM Nissan to axe 10,000 jobs worldwide over weaker profit
Mubasher: Nissan plans to cut more than 10,000 jobs, as the Japanese auto giant grapples to revive its beleaguered business.
Global Reports
24 July 2019 05:34 PM US oil inventories drop 10.8m barrels; prices climb
Mubasher: US crude oil stockpiles dropped by 10.8 million barrels to 445 million barrels in the week ended 19 July.
Global Markets brief
24 July 2019 05:22 PM US new house sales rebound in June
Mubasher: Sales of new houses in the US grew in June after two monthly declines.
Global Markets brief
24 July 2019 04:48 PM Caterpillar’s weak energy sales dent Q2 earnings
Mubasher: Caterpillar posted weaker-than-expected earnings during the second quarter owing to lower demand for construction machinery in Asia-Pacific region and weaker sales from energy division.
Global Reports
24 July 2019 03:41 PM Daimler posts first quarterly loss in decade on one-off costs
Mubasher: German car giant Daimler posted a net loss during the second quarter of this year, the first since ten years, as expenses resulting from
Global Reports
24 July 2019 02:25 PM Deutsche Bank posts net loss in Q2 on restructuring costs
Mubasher: Deutsche Bank on Wednesday said that it posted a net loss in the second quarter of this year.
Global Markets brief
24 July 2019 01:17 PM Gold rises on Middle East tensions; stronger dollar caps gains
Mubasher: Gold rose on Wednesday as mounting tensions in the Middle East boosted safe-haven sentiment along with a reported progress in the US-Sino trade talks.
Global Markets brief
24 July 2019 00:14 PM Oil rises on US inventory drawdown, Middle East tensions
Mubasher: Oil futures traded higher on Wednesday after figures released by an industry group showed a much larger than expected drawdown in US crude inventories.
Global Markets brief
24 July 2019 11:45 AM Eurozone economic growth stutters on steeper manufacturing decline
Mubasher: Initial estimates for the Eurozone indicated that economic activity growth slowed down in July.
Global Reports
24 July 2019 10:58 AM German private sector growth starts Q3 with slower pace
Mubasher: Factories in Europe’s biggest economy saw the weakest monthly since seven years.
Global Economy
23 July 2019 11:09 PM Oil ends higher on Tuesday    
Mubasher: Oil future rose at Tuesday’s settlement, amid concerns over global supplies.  
Oil and Energy
23 July 2019 09:59 PM Gold settles lower on Tuesday  
​​​​​​​Mubasher: Gold declined at Tuesday’s settlement, as the US dollar rose.
Goods and Metals
23 July 2019 07:57 PM Lower sales weigh on Harley-Davidson’s Q2-19 profit
Mubasher: Harley-Davidson’s net income declined to $195.6 million during the second quarter of 2019, compared to $242.3 million in the year-ago period.
Global Reports
23 July 2019 06:29 PM Spain’s Sánchez lose first PM vote
Mubasher: Spain’s caretaker Prime Minister Pedro Sánchez failed on Tuesday in the first bid to secure parliament’s support to form a government.
Global Markets brief
23 July 2019 05:56 PM Lockheed Martin’s profit climbs 22% in Q2
Mubasher: Lockheed Martin on Monday said that its net earnings climbed by 22% year-on-year in the second quarter, while its net sales rose by 7.7%.
Global Reports
23 July 2019 05:27 PM US existing home sales fall despite lower mortgage rates
Mubasher: Sales of previously owned houses were weaker during June, with higher prices, lower inventory and fewer potential buyers, despite lower interest rates.
Global Markets brief
23 July 2019 04:44 PM China’s interest rates seen at ‘appropriate level’–C.Bank’s head   
Mubasher: Any monetary policy move by the People’s Bank of China would be made on domestic considerations.
Global Reports
23 July 2019 04:05 PM China’s BAIC acquires 5% stake in Daimler
Mubasher: China's Beijing Automotive Group purchased a 5% stake in Daimler, consolidating its business with the German auto giant.
Global Markets brief
23 July 2019 03:19 PM Trump meets with US tech firms to discuss Huawei sales
Mubasher: US President Donald Trump discussed the sales ban to telecoms behemoth Huawei, in a meeting with top tier leaders of seven US tech companies.
Global Markets brief
23 July 2019 02:59 PM EU slams new Tory leader’s Brexit plan
Mubasher: The European Union shot down Boris Johnson’s Brexit plan shortly after his election as the Conservative Party's new leader.
Global Markets brief
23 July 2019 02:34 PM Boris Johnson elected new Tory leader
Mubasher: Boris Johnson was elected as the new leader of the UK’s ruling Conservative Party, and presumptive the nation’s Prime Minister.
Global Markets brief
23 July 2019 01:21 PM Emerson enables automation at Caspian Sea’s first subsea project
Mubasher: Tech firm Emerson announced that it completed its $48 million cloud engineering software-as-a-service contract for the Shah Deniz 2 project in Azerbaijan.
Global Markets brief
23 July 2019 00:13 PM IEA vows swift action to maintain well-supplied oil market
Mubasher: The International Energy Agency stated that it would act quickly if needed to keep global oil market sufficiently supplied.
Oil and Energy
23 July 2019 11:26 AM Trump announces 2-year bipartisan deal on debt ceiling, budget
Mubasher: US President Donald Trump unveiled a bipartisan deal to suspend the debt limit and ramp up spending for two years.
Global Markets brief
23 July 2019 10:41 AM Gold falls as dollar advances, investors lock in profits
Mubasher: Gold prices declined on Tuesday, driven by a stronger dollar, while some investors booked profits ahead of the US Federal Reserve’s next policy meeting.
Global Markets brief