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MIS will supply Tawuniya with equipment, software, maintenance, and operation
29 minutes ago MIS pens KSA 68m deal with Tawuniya
Riyadh – Mubasher: Al Moammar information systems Company (MIS) has signed a SAR 68.03 million deal with the Company for Cooperative Insurance (Tawuniya). Under the five-year deal, MIS will supply Tawuniya with equipment, software, maintenance, …
The decision will become effective on 10 September
1 hour ago Saudi Ground names Fahad Cynndy new CEO
Riyadh – Mubasher: The board of directors of the Saudi Ground Services Company  (SGS) has appointed Fahad Cynndy as the new CEO. The decision will become effective on Tuesday, 10 September, according to the company’s filing to the Saudi Stock …
16 August 11:12 PM Oil ends higher on Friday   
​​​​​​​Mubasher: Oil future grew at Friday’s settlement, rising 0.7% for the week.
16 August 10:21 PM Gold loses $7.6 at Friday’s finish    
​​​​​​​Mubasher: Gold ends lower on Friday, gaining 1% for the week.
Crude oil was supplied to the distillation unit
16 August 09:28 PM Aramco, Petronas resume operation in Malaysian crude distillation unit
Riyadh - Mubasher: Pengerang Refining and Petrochemical (PrefChem), a joint venture between Petronas and Saudi Aramco, has reportedly started the operation of a crude distillation unit at its oil refinery in Malaysia, informed sources told Reuters …
Saudi ownership of US Treasuries reached $179.6bn in June
16 August 08:47 PM Saudi tops Arab holders of US Treasuries in June
Riyadh- Mubasher: Saudi Arabia investments in the US treasury bonds rose by 9.3% year-on-year during June 2019, increasing its stake of the US treasuries for the fifth month in a row. Saudi Arabia’s holdings of the US treasury bonds grew to $179.6 …
Saudi Arabia topped Arabs with $179.6bn holdings
16 August 07:03 PM Kuwaiti ownership of US Treasuries grows in June
Mubasher: Recent data showed that Kuwait’s holdings of the US Treasury bonds increased by 7.2% month-on-month in June 2019. Kuwait’s holdings of the US debt instruments went up to $44.4 billion in June 2019 from $41.4 in May. On a yearly basis, …
The UAE ranked 2nd among Arab holders of US Treasuries
16 August 06:43 PM UAE cuts holdings of US Treasuries in June
Abu Dhabi – Mubasher: The UAE has reduced its holdings of the US Treasuries by 3.2% month-on-month to $51.5 billion in June 2019, from $53.2 billion in May, according to the US Department of the Treasury’s recent data. On a yearly basis, the Gulf …
16 August 05:40 PM OPEC downgrades oil demand outlook, predicts 2020 glut
Mubasher: The Organization of the Petroleum Exporting Countries on Friday cut its outlook for global oil demand for the rest of the year.
16 August 05:13 PM US consumer confidence hits 2019 low in early August
Mubasher: US consumer sentiment recorded he worst reading so far this year during the first half of August.
16 August 04:40 PM OPEC crude output drops in July
Mubasher: Declines mostly came from Saudi Arabia, Iran, Libya and Venezuela.
16 August 03:52 PM Hong Kong economy shrinks in Q2 on political turmoil
Mubasher: Hong Kong is on the brink of its first recession since a decade.
16 August 03:45 PM US private housing starts plunge in June
Mubasher: Privately-owned housing starts came in at a seasonally adjusted annual rate of 1.191 million starts last July.
16 August 02:59 PM Euro hits 2-week trough as dollar advances
Mubasher: The euro on Friday dropped against the dollar, hovering below a two-week low, Reuters reported.
16 August 02:32 PM London’s FTSE 100 opens higher after delay on ‘technical problems’
Mubasher: London Stock Exchange on Friday postponed open of Financial Times Stock Exchange 100 (FTSE 100) index and FTSe 250.
16 August 01:01 PM Eurozone trade surplus shrinks in June
Mubasher: Initial estimates suggested that the Eurozone trade balance posted a surplus of EUR 20.6 billion in June, down year-on-year from EUR 22.6 billion.
16 August 12:43 PM World’s banks announced plans to axe 48,000 jobs in 2019
Mubasher: Banks across the world have laid off more than 48,500 employees this year as the economic outlook dimmed, according to Bloomberg.
16 August 11:26 AM Gold to post 3rd weekly gain on trade, growth fears
Mubasher: Gold prices fell on Friday, but they were on course to record their third weekly gain in a row, as safe-haven demand remained supported.
16 August 10:24 AM Oil jumps on retreating recession worries
Mubasher: Oil futures rose on Friday, gaining support from easing worries about an economic recession in the world’s biggest crude consumer.
15 August 11:31 PM Oil settles lower on Thursday  
Mubasher: Oil future fell at Thursday’s settlement, as US natural gas stockpiles rose. 
15 August 11:09 PM Swiss-Belhotel International to expand in Vietnam
Mubasher: Swiss-Belhotel International has unveiled plans to expand in Vietnam and add at least 10 hotels and resorts to its Vietnamese portfolio.
15 August 10:06 PM Gold rises at Thursday’s close   
Mubasher: Gold settles higher on Thursday, marking its highest level since April 2013.
15 August 07:41 PM China vows again to take measures against US levies
Mubasher: China renewed its vow to retaliate against US tariffs, which are due to be implemented in the upcoming weeks.
15 August 07:14 PM UPS acquires minority stake in autonomous driving startup
Mubasher: United Parcel Service is jumping into autonomous vehicle world, with its venture capital arm UPS Ventures buying a minority stake in TuSimple.
15 August 05:49 PM US builder morale rises in July on lower mortgage rates
Mubasher: US home builder sentiment continued to improve in August, with a firm demand for single-family houses.