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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%
19 October 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
19 October 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
19 October 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 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 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 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.
17 October 01:52 PM UK, EU clinch new Brexit deal; Johnson heads to Brussels
Mubasher: UK Prime Minister Boris Johnson and European Commission President Jean-Claude Juncker on Thursday said that an agreement was reached on a new withdrawal deal.
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.
Grand Union is Developed by St George PLC, Berkeley Group
17 October 05:13 PM Major trending investments in London include Battersea Power Station – Savills
Mubasher: Companies invest into the real estate market in London, so too are developers, by offering increasingly attractive opportunities, the leading real estate advisor, Savills Middle East, said. In a high-profile event at the UK Embassy in …
The material sector topped the risers adding 2.23%
17 October 05:03 PM TASI hits highest level in 30 sessions at Thursday’s close
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Thursday’s trading session with positive performance, hitting the highest level in 30 sessions, pushed by the growth of blue chips. The benchmark Tadawul All Share Index (TASI) went up by …
This approval is conditional on the Company’s extraordinary general assembly approval
17 October 04:50 PM CMA approves Saudi Paper’s request of capital cut
Riyadh – Mubasher: The Capital Market Authority (CMA) has approved the Saudi Paper Manufacturing Company’s request to reduce its capital to SAR 92 million instead of SAR 245 million. This approval is conditional on the Company’s extraordinary …
Prime London residential property values are forecast to show recovery
17 October 04:28 PM Savills: Outbound investment in real estate from Middle East rises 62%
Mubasher: Investment in the global real estate market is showing faster growth than any other region, while outbound investment in properties from the Middle East region has soared by 62% during the first half of 2019, Savills said. In a …
The UAE has raised its holdings of US Treasury bonds by 0.2% month-on-month
17 October 04:15 PM UAE raises holdings of US Treasury bonds in August
By: Enas Bahgat UAE – Mubasher: The UAE has raised its holdings of US Treasury bonds by 0.2% month-on-month, or $100 million, in August to $49.4 billion from $49.3 billion, data by the US Department of the Treasury showed. Year-on-year, the GCC …
17 October 04:10 PM US private housing permits fall in September
Mubasher: Privately-owned housing units authorised under building permits fell to a seasonally adjusted annual rate of 1.387 million.
Ayman bin Mohammed Alsayari is the deputy governor for SAMA
17 October 04:06 PM King Salman names new central bank deputy governor
Riyadh – Mubasher: Saudi Arabia's King Salman has issued a royal order appointing Ayman bin Mohammed Alsayari as the deputy governor for the Saudi Arabian Monetary Authority (SAMA), the Saudi Press Agency (SPA) reported on Thursday.    
Crude oil exports remained stable at 6.88 mbpd during August
17 October 03:54 PM Saudi oil exports hit 8.216 mbpd in August – JODI
By:  El-Sayed Gamal Riyadh – Mubasher: Saudi Arabia’s oil exports jumped during August, hitting the highest level since April. Oil export of the GCC nations increased to 8.216 million barrel per day (mbpd) in August, compared to 8.101 mbpd a month …
17 October 03:48 PM US Mid-Atlantic business growth slowdown continues in October
Mubasher: The Philadelphia Federal Reserve on Thursday said that its gauge on the US Mid-Atlantic business activity revealed a further expansion slowdown.
Agility will enjoy all of the benefits offered to foreign investors
17 October 02:45 PM Saudi Customs, Agility ink MoU to build bonded area
Riyadh – Mubasher: The Saudi Customs signed a Memorandum of Understanding (MoU) with Agility Public Warehousing to transform some of the firms’ warehouses in Riyadh into bonded and re-export zone.     Accordingly, Agility will prepare the new …