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Etisalat became MENA's 1st operator to introduce 5G tech
2 hours ago Etisalat conducts 1st end-to-end 5G standalone call in MENA
Mubasher: Etisalat has completed the first end-to-end 5G standalone call in the Middle East and North Africa region in the UAE, Emirates News Agency reported on Saturday. The recent announcement followed the completion of a test conducted in the …
The plant will be located at Taweelah complex
3 hours ago EWEC, ACWA Power announce financial closing of Taweelah desalination plant
UAE – Mubasher: Emirates Water and Electricity Company (EWEC), a subsidiary of Abu Dhabi Power Corporation (ADPower), and Saudi Arabia's ACWA Power have announced the successful financial closing of the AED 3.19 billion Taweelah reverse osmosis …
The utilities sector dropped 4.48%
4 hours ago TASI plunges 60 pts in week
Riyadh – Mubasher: The Saudi Stock Exchange’s Tadawul All-Share Index (TASI) declined by 59.66 points, or 0.78%, to 7,635.82 points in a week. Market capitalisation went down by SAR 16.1 billion ($4.3 billion) to reach SAR 1.8 trillion ($480.6 …
Oil production will restart in Khafji
5 hours ago Kuwait, Saudi Arabia to resume oil production from neutral zone
Riyadh - Mubasher: Kuwait and Saudi Arabia have reportedly reached an agreement to resume oil production in jointly-operated fields in the Neutral Zone between the oil-rich countries, Reuters reported on Saturday, citing Kuwaiti newspapers …
Brent crude futures declined by 0.5%
05:37 PM Kuwait’s crude oil price rises 57 cents on Friday
Mubasher: The price of Kuwait’s crude oil increased by 57 cents to settle at $61 per barrel on Friday, compared to $60.43 pb a day earlier, according to the Kuwait News Agency. Brent crude futures declined by 0.5% to hit $59.42 pb, while Nymex WTI …
Banks provided 93.7% of mortgage in Q2
05:29 PM Saudi Arabia’s mortgage levels up by 21% YoY in Q2-19
Riyadh – Mubasher: Saudi Arabian mortgage grew by 21% year-on-year to more than SAR 281 billion during the second quarter of 2019. Banks provided 93.7% of mortgage in Q2-19, while financial companies granted 6.3%, according to the Saudi Arabia …
No new date was set for the IPO
05:01 PM Saudi Aramco defers IPO until release of Q3-19 results
Riyadh – Mubasher: Saudi Aramco has reportedly postponed planned initial public offering until the posting of the company’s result for the third quarter of 2019, informed sources told Reuters. The sources added that no new date was set for the …
18 October 05:58 PM IMF warns against mounting risks to Asia’s growth outlooks
Mubasher: The International Monetary Fund warned Asian economies are facing elevated risks to their growth outlooks.
18 October 05:11 PM Asda secures $4.9bn buy-in with insurer Rothesay Life
Mubasher: Asda announced a GBP 3.8 billion “buy-in” with Rothesay Life to secure the benefits for 12,300 members of one of its pension plans.
18 October 04:42 PM European bailout fund’s head rules out another 2009 crisis
Mubasher: The Eurozone has worked hard to ensure that the region is well-prepared to deal with any incoming financial shocks.
18 October 04:09 PM Coca-Cola posts solid Q3 revenue on growing healthier drink sales
Mubasher: Coca-Cola on Friday reported third-quarter revenue that beat analysts’ forecasts led by healthier options such as Zero Sugar soda.
18 October 03:14 PM EU rubber-stamps Christine Lagarde to take ECB’s helm
Mubasher: European Union leaders on Friday approved the appointment of Christine Lagarde as the next head of the European Central Bank.
18 October 03:01 PM China’s fixed-asset investment retreats slightly in 9M to September
Mubasher: China's fixed-asset investment grew slightly slower over the first three quarters of this year, but it maintained a steadily pace, driven by high-tech investments.
18 October 02:32 PM Gold slips on profit-booking, growth, trade anxieties limit losses
Mubasher: Gold prices declined on Friday as investors locked in profits after the European Union and the UK clinched a new Brexit deal.
18 October 02:10 PM Goldman Sachs raises Brexit odds to 65%
Mubasher: Goldman Sachs said it raised the chance of reaching a Brexit deal to 65% from 60%.
18 October 01:48 PM China’s refinery throughputs hit fresh peak in September
Mubasher: China's crude oil refinery runs hit a record peak, climbing by 9.4% year-on-year in September.
Communications satellite TIBA-1 was sent to French Guiana, before its launch from Kourou
18 October 01:16 PM Egypt’s TIBA-1 satellite leaves Airbus’ clean rooms
Mubasher: Airbus said that Egypt’s communications satellite TIBA-1 left its defence and space clean rooms in Toulouse, according to the European aeronautics giant’s website. The spacecraft, developed by Airbus and Thales Alenia Space (TAS), a …
18 October 12:34 PM Oil declines early Friday on weak China GDP figures
Mubasher: Oil prices declined earlier on Friday amid demand worries raised by figures showing the weakest economic growth of China since almost three decades.
18 October 11:38 AM Eurozone current account surplus grows in August
Mubasher: The Eurozone’s current account surplus grew in August compared with July, but it shrank over the 12-month period ended the reported month.
18 October 11:30 AM China’s industrial growth picks up in September
Mubasher: Chinese industrial output growth accelerated in September from its slowest pace in 17 years and a half during August.
18 October 10:47 AM Chinese economy slows down further in Q3
Mubasher: Chinese economic growth in the third quarter of this year lost further steam, amid the trade tensions with the US.
17 October 06:17 PM Volvo Cars to cut carbon footprint by 40% per car
Mubasher: Volvo Cars revealed its ambitious plan to cut its carbon footprint by 40% per car between 2018 and 2025.
17 October 06:07 PM US oil stockpiles surge in mid-October as futures drop
Mubasher: US crude oil stockpiles climbed by 9.3 million barrels to 434.9 million barrels in the week ended 11 October, the Energy Information Administration said.
17 October 05:32 PM US natural gas stockpiles jump as futures surge
Mubasher: US natural gas storage climbed by 104 billion cubic feet in the week ended 11 October, to a total of 3,519 Bcf.
17 October 05:20 PM Morgan Stanley profit rises 3% in Q3
Mubasher: Morgan Stanley on Thursday reported that its net income rose by almost 3% year-on-year in the third quarter of this year.