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7 December 10:45 PM US federal aviation admin to impose $3.9m fine on Boeing
Mubasher: The US Federal Aviation Administration (FAA) is seeking to impose a $3.9 million fine on Boeing Company, according to Reuters.
Qatar tops the list of importers in GCC
7 December 08:17 PM Kuwaiti non-oil exports fall 0.9% YoY in November
Mubasher: The value of Kuwait’s non-oil exports declined by 0.9% to KWD 12.1 million ($39.9 million) in November, compared to KWD 13.4 million (around $44 million) in the year-ago period, the Kuwait News Agency (KUNA) reported on Saturday. The …
Sales grew to KWD 825m in Q3
7 December 07:13 PM Commercial sector drags down property sales in Kuwait – NBK
By: Muhammad Abdul-Wakeel Mubasher: Property sales in Kuwait declined by 31% month-on-month, 26% year-on-year, in October, recording KWD 211 million, on the back of the commercial sector. During the third quarter of 2019, sales grew 2.8% …
Both fields were supplying 500,000 bpd
7 December 05:31 PM Saudi Arabia, Kuwait to resume production from joint oilfields “very soon”
Mubasher: Joint oilfields between Saudi Arabia and Kuwait are expected to resume production “very soon”, Saudi energy minister Prince Abdulaziz said, according to Reuters. That will not affect both countries’ output cut commitments, he added. …
Aramco’s IPO raised $25.6 billion
7 December 05:07 PM Wider industry downturn affects Aramco’s valuation – Minister
Riyadh – Mubasher: Aramco is worth more than $1.7 trillion, but the company has fallen victim of a wider industry downturn, Saudi Arabian energy minister Prince Abdulaziz bin Salman said during an interview with Reuters. However, as Aramco’s …
7 December 04:39 PM OPEC+ output cuts may be eased on drop in inventories
Mubasher: OPEC+ output cuts are expected to be eased after global inventories drop and prices reflect a tighter market, Saudi energy minister said.
6 December 10:53 PM Oil futures mark highest settlement in over 2M on Friday
Mubasher: Oil futures recorded the highest settlement since 17 September on Friday, surging 7.3% for the week. 
6 December 10:38 PM Gold settles $18 lower on Friday  
​​​​​​​Mubasher: Gold prices dropped at Friday’s settlement, losing 0.5% for the week.
The kingdom will also extend a voluntary cut of 400,000 bpd
6 December 08:45 PM Saudi Arabia to add 167,000 bpd to its oil output cut quota
Riyadh – Mubasher: Saudi Arabia is set to reduce oil production by additional 167,000 barrels per day (bpd) until March 2020, CNBC reported on Friday. The kingdom will also extend a voluntary cut of 400,000 bpd, Saudi energy minister Prince …
6 December 07:38 PM Nevada’s public utilities commission approves $1bn solar project
Mubasher: Nevada’s public utilities commission has approved 25-year Power Purchase Agreement for 690 megawatts AC Gemini Solar + Battery Storage Project in Clark County.
IPO price was fixed at SAR 32 per share
6 December 05:30 PM Saudi Aramco shares to kick off trading next Wednesday
Riyadh – Mubasher: Saudi Aramco shares will start trading on 11 December, the Saudi securities exchange Tadawul said in a statement on Friday. Aramco shares will trade under the symbol 2222, while they will have a daily fluctuation limit of plus …
6 December 05:05 PM Saudi Aramco’s retail IPO 154% oversubscribed
Riyadh – Mubasher: Saudi Aramco’s stock allocation for retail subscribers was finalised, initial public offering (IPO) lead manager Samba Capital & Investment Management said. The oil giant allotted as much as 1,500 shares per retail investor, …
6 December 04:57 PM Saudi Arabia leads OPEC+ to agree on more output cuts
Mubasher: OPEC+ agreed to adjust output target and redistribute production cuts between its members, Bloomberg reported on Friday.
Kuwaiti oil minister Khaled Al Fadel
6 December 03:08 PM Kuwait’s oil minister rebuffs reported OPEC agreement on supply cuts
Mubasher: Kuwaiti oil minister Khaled Al Fadel on Friday dismissed reports on an agreement among members of the Organization of the Petroleum Exporting Countries (OPEC) on cutting their collective supply by 500,000 barrels per day to 1.7 million …
6 December 12:56 PM Phoenix Group acquires Swiss Re’s UK unit for $4.3bn
Mubasher: Reinsurance company Swiss Re agreed to sell its UK subsidiary for pension giant Phoenix Group for GBP 3.25 billion in cash and shares.
Kuwaiti crude oil settled at $64.43 pb
6 December 12:25 PM Kuwaiti oil barrels settle 1.61% higher on Thursday
Mubasher: Kuwaiti crude oil surged by $1.61, settling at $64.43 per barrel (pb) on Thursday. This came after Kuwait barrels recorded $62.82 pb in the preceding session, Kuwait News Agency (KUNA) said, citing the Kuwait Petroleum Corporation (KPC). …
Novak met his Saudi counterpart Prince Abdulaziz bin Salman
6 December 11:53 AM Saudi-Russian trade exchange grows 54% in 9M–Novak
Riyadh – Mubasher: Saudi-Russian trade exchange grew by 53.8% over the first nine months of 2019 on the prior year, Russian energy minister Alexander Novak said. The volume of trade exchange between Saudi Arabia and Russia amounted to $1.2 billion …
6 December 10:35 AM Global food prices hit 2-year peak in November
Mubasher: Food prices worldwide surged in November, hitting their highest level since more than two years, mainly driven by meat and vegetable oil price increases.
5 December 07:53 PM Ten wild predictions that could change global economy in 2020
5 December 05:42 PM Dubai, London, NY recognised 2019’s ‘Construction Mega Cities’ – GlobalData
The combined value of the project pipelines in those mega cities reaches $5.3 trillion
Saudi Capital Market Authority
5 December 05:23 PM CMA approves Anaam Holding capital reduction request
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Anaam International Holding Group’s request to reduce capital from SAR 196 million to SAR 15 million. The capital cut will reduce the number of shares from 19.6 million …
Photo Archive
5 December 05:14 PM Al Rajhi Capital discloses details on REIT IPO
Riyadh – Mubasher: Al Rajhi Capital announced that the subscription period for its real estate investment trust (Al Rajhi REIT) total asset value increase offering will begin on 12 December, until 18 December 2019. The initial public offering …
Saudi Stock Exchange
5 December 05:01 PM Tadawul resumes gains on Thursday
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Thursday’s trading session in the green zone, amidst the rise of major market sectors. The Tadawul All Share Index (TASI) added 0.44% or 34.31 points and closed at the level of 7,905.51 …
The UAE leads Saudi Arabia's trade partners in the region
5 December 04:08 PM KSA trade with Arab countries nears $29bn in 9M
Riyadh – Mubasher: Trade exchange between Saudi Arabia and other Arab countries registered marginal growth during the first nine months of 2019, increasing to 9.51% of Saudi total foreign trade from 9.48% in the same period last year. The …
Sawiris owns 74.9% of Raiffeisen Touristik Group
5 December 02:11 PM Samih Sawiris acquires Thomas Cook’s German franchise network
Cairo – Mubasher: Raiffeisen Touristik Group, majority owned by the Egyptian billionaire Samih Sawiris, has acquired the German franchise network of Thomas Cook, Handelsblatt reported.  Sawiris owns 74.9% of Raiffeisen Touristik Group which …