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The software and services sector topped the decliners losing 2.12%
7 minutes ago Saudi indices start Thursday on mixed note
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) opened Thursday’s trading session with mixed performance. By 10:35 am KSA time, the main Tadawul All-Share Index (TASI) fell 0.92%, or 82.11 points, to 8,854.15 points. TASI’s traded volume …
20 minutes ago Oil leaps on US demand rebound, OPEC meeting date
Mubasher: Oil jumped on Thursday as fuel demand seemed to improve in the US, the world’s biggest consumer, while major producers agreed to a date.
SAMI aims at raising local production in the defence sector
1 hour ago SAMI, ST Engineering pen MoU to explore business opportunities
Riyadh – Mubasher: The Saudi Military Industries Company (SAMI) and Singapore-based global technology, defence, and engineering group ST Engineering signed a memorandum of understanding (MoU) on the sidelines of the Paris Air Show in a bid to …
19 June 11:25 PM Lower US stockpiles pressure oil at Wednesday’s finish
Mubasher: Oil futures ended in the red territory on Wednesday, as US data showed lower crude oil inventories.
Trade surplus declined to SAR 119.5 billion in Q1
19 June 11:00 PM Saudi Arabia’s trade surplus goes up 3% YoY in 4M
By: El Sayed Gamal Riyadh – Mubasher: Saudi Arabia has achieved a 3% year-on-year growth in trade surplus during the first four months of 2019, reaching SAR 167.2 billion ($44.58 billion). In April, the kingdom’s trade surplus grows to SAR 47.66 …
19 June 09:49 PM Gold levels down at Wednesday’s settlement
Mubasher: Gold ended lower on Wednesday after Fed decided to maintain interest rates.
19 June 09:35 PM Fed holds interest rates, pledges to closely monitor economy
Mubasher: The United States Federal Reserve Open Market Committee (FOMC) has decided to maintain interest rates in the range of 2.25% to 2.5%.
OPEC's members and allies will meet on 1 and 2 July
19 June 07:51 PM UAE backs extension of oil output cut agreement – Minister
UAE – Mubasher: The UAE is supporting the extension of OPEC+ output cut agreement, energy minister Suhail Al Mazroui said. The extension is required due to the increase in the inventories of some counties, especially the US, he added, according to …
19 June 07:00 PM US considers sanctions against Turkey over S-400 missile deal– Report
Mubasher: The US administration was weighing three various rounds of sanctions against Turkey over Ankara’s purchase of Russian missile defence systems, Bloomberg reported.
The financial impact of the deal will be positive
19 June 05:45 PM Bawan’s units close $4.5m merger
Riyadh – Mubasher: The shareholders of Bawan Company has announced that two of its subsidiaries signed a SAR 17 million ($4.53 million) merger agreement. United Transformers Electric Company (UTEC) and United Technology Of Electric Substations & …
19 June 05:37 PM US oil stockpiles drop 3.1m barrels in June’s second week
Mubasher: US crude oil stockpiles dropped by 3.1 million barrels to 482.4 million barrels in the week ended 14 June, the Energy Information Administration said.
TASI decreased by 64.17 points
19 June 05:05 PM Saudi indices end Wednesday with negative performance
Riyadh – Mubasher: The Saudi Stock Exchange’s (Tadawul) benchmark Tadawul All-Share Index (TASI) closed Wednesday’s trading session with negative performance. TASI decreased by 64.17 points, or 71%, to finish the session at 8,936.26 points. TASI’s …
19 June 05:01 PM OPEC to hold policy meeting in early July
Mubasher: The Organization of the Petroleum Exporting Countries announced that its members and allies would hold their meeting on 1 and 2 July.
Naphtha cracker has a capacity of 1.2 million tonnes per year
19 June 04:43 PM Saudi Aramco, Malaysian Petronas start naphtha cracker operations at JV refinery
Riyadh – Mubasher: State-run Saudi Aramco, known formally as Saudi Arabian Oil Co., and Malaysian oil company Petroliam Nasional Bhd, Petronas, have started the operations of naphtha cracker at new Pengerang refinery, Reuters reported. The naphtha …
Total exports to the GCC state recorded AED 7.725 billion in Q1-19
19 June 04:20 PM Abu Dhabi trade exchange with GCC up 7.7% in Q1
By: Enas Bahgat Abu Dhabi – Mubasher: Abu Dhabi’s total trade exchange with the GCC countries rose by 7.7% year-on-year to AED 18.222 billion in the first quarter of 2019 from AED 16.918 billion, according to Mubasher statistics. Total exports to …
19 June 03:27 PM Apple weighs shifting 15%-30% of output capacity from China–Report
Mubasher: Apple asked its key suppliers to assess the cost implications of moving 15% to 30% of their production capacity to Southeast Asia.
Tamakani will help in creating opportunities and guidance for women
19 June 02:59 PM PepsiCo launches ‘Tamakani’ to empower Saudi women
Riyadh – Mubasher: PepsiCo launched a dedicated platform “Tamakani” in an effort to support and inspire generations of women in Saudi Arabia. The newly launched platform will help in creating opportunities and guidance for women, providing support …
The royal decree shall come into effect starting June 2019
19 June 02:54 PM Oman allows tax breaks for tourism investments in Musandam
Mubasher: Oman’s tourism minister has welcomed the new Royal Directive issued by Sultan Qaboos bin Said to grant tax exemptions to any new investor who is interested in establishing a tourist project in Musandam. By implementing this new decree, …
FAB conducts its business in accordance with the highest professional standards
19 June 01:22 PM FAB closes operations in Qatar, relinquishes QFC branch licence
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) will shut down its operations in Qatar as it has notified the Qatar Financial Centre Regulatory Authority (QFCRA) that it will relinquish its Qatar Financial Centre (QFC) branch licence and …
2018 was a positive year for listed banks in Saudi Arabia
19 June 01:18 PM Saudi banks to extend growth while embracing digital agenda – KPMG
Riyadh – Mubasher: Banks operating in Saudi Arabia will continue to grow over the coming period after posting a solid performance last year, KPMG said in a report on Wednesday. The report, entitled “Embracing Digital”, tackled listed commercial …
19 June 12:38 PM Gold slips on US-Sino trade deal optimism, dovish ECB
Mubasher: Gold dipped on Wednesday amid re-kindled hopes of a trade deal between the US and China and dovish signals from the European Central Bank.
The Saudi inflation rate retreated to 105.7 points in May
19 June 12:26 PM Saudi inflation falls 1.5% in May – GASTAT
Riyadh – Mubasher: Saudi Arabia’s consumer price index (CPI), which is known as inflation, declined by 1.5% year-on-year in May, according to data released by the General Authority for Statistics (GASTAT). The Saudi inflation rate retreated to …
19 June 12:11 PM UK output prices grow slightly slower in May
Mubasher: Producer price index (PPI) for the goods leaving UK factories recorded 1.8% in the year ended May, down from 2.1% compared with the year.
Saudi Arabia’s trade surplus with Japan has declined to $2.09 billion in May
19 June 12:04 PM Saudi Arabia’s trade surplus with Japan hits $2.1bn in May
Riyadh – Mubasher: Saudi Arabia’s trade surplus with Japan has declined to $2.09 billion (SAR 7.856 billion) in May, compared to $2.484 billion (SAR 9.315 billion) in the same month a year earlier. The kingdom’s exports to Japan recorded …
Profits of 26 Emirati insurance firms reached $98.16 million
19 June 11:57 AM UAE’s insurance firms hold one-third of profits in GCC
Dubai – Mubasher: Ubhar Capital, a financial services company based in Oman, revealed that the UAE’s insurance companies have topped the GCC firms in terms of profitability with a share of 30%, Al Bayan newspaper reported. Profits of 84 insurance …