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18 January 06:20 PM

Local Economy

Kuwaiti economy is still dependent on oil returns
2 hours ago S&P affirms Kuwait's credit rating at ‘AA’; Outlook stable
Mubasher: Standard and Poor's (S&P) has affirmed Kuwait's credit rating at (AA) with a stable outlook, the Kuwait News Agency reported on Saturday. The rating agency said that the Kuwaiti economy is still dependent on oil returns, which accounts …
Macroeconomics
Participants stressed the crucial role of government support to achieve gender quality
16 January 05:13 PM WiSER forum highlights digitalisation’s role in women empowerment
Abu Dhabi – Mubasher: The global leading renewable energy company Masdar held its fifth annual Women in Sustainability, Environment and Renewable Energy (WiSER) Forum on Tuesday, January 14 at Abu Dhabi Sustainability Week (ADSW) 2020. During an …
Event
The websites have exploited different social media platforms
16 January 03:59 PM Saudi embassy denies claims on free Hajj, Umrah trips
Cairo – Mubasher: The Embassy of Saudi Arabia in Egypt has denied the accuracy of the news circulated on fake websites promoting for free Hajj and Umrah trips. The embassy stressed that these websites have exploited different social media …
Macroeconomics
The G20 Leaders’ Summit will be held in Riyadh on 21-22 November 2020
16 January 12:40 PM G20 Summit to boost Saudi economic growth - Jadwa Investment
Riyadh – Mubasher: Saudi Arabia assumed the G20 presidency last December will host the G20 Leaders’ Summit in Riyadh on 21-22 November 2020. Although the Saudi capital has hosted several large events over the recent past, the G20 summit is set to …
Macroeconomics
More than 300 finance executives and officials participated in the forum
16 January 11:14 AM Financial Stability Forum discusses Saudi growth, development
Riyadh – Mubasher: Saudi Minister of Finance Mohammed Al Jadaan inaugurated on Wednesday the Financial Stability Forum 2020, organized by the Saudi Arabian Monetary Authority (SAMA) and the Capital Market Authority (CMA). With the participation of …
Event
Photo Archive
16 January 11:01 AM Aldrees fined for selling adulterated petroleum products
Riyadh – Mubasher: The Saudi Ministry of Commerce and Industry has imposed a fine on Aldrees Petroleum and Transport Services Company. Aldrees has been fined for selling petroleum products that did not meet standards, in Taif city. The ruling will …
Markets Regulations
Saudi Stock Exchange (Tadawul)
15 January 05:27 PM Saudi CMA approves clearing center rules
Riyadh – Mubasher: The Saudi Securities Clearing Center Company (Muqassa) announced that the board of the Capital Market Authority (CMA) has approved the securities clearing centre rules and procedures. The rules regulate the clearing members …
Trading Activities
Saudi Stock Exchange
15 January 04:32 PM Saudi CMA approves derivatives trading rules
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced that the Board of the Capital Market Authority (CMA) has approved rules for derivatives exchange trading and membership rules and procedures. The derivatives exchange trading and …
Trading Activities
The 9th Riyadh Economic Forum will take place on 21-23 January 2020
15 January 03:59 PM Riyadh Economic Forum to be held next week
Riyadh – Mubasher: Riyadh Chamber will organize the 9th Riyadh Economic Forum on 21-23 January, under the patronage of King Salman bin Abdulaziz Al Saud of Saudi Arabia, Saudi Press Agency (SPA) reported. The forum will address five topics, …
Event
Iron prices have dropped by EGP 300 per tonne since the beginning of the week
15 January 03:28 PM Iron prices to further decline as EGP levels up
By: Abdullah Bedeir Cairo – Mubasher: Iron prices are expected to further decline in the coming period, Ahmed El-Zeiny, the head of chamber of building materials at the Federation of Egyptian Chambers of Commerce (FEDCOC) told Mubasher. With the …
Commodities
The shipment reflects the success of KNPC’s international marketing sector
15 January 02:07 PM KNPC exports first low-sulfur diesel shipment
Mubasher: Kuwait National Petroleum Company (KNPC) announced that the first shipment of low-sulfur diesel (ULSD 10ppm) has been exported through Mina Abdullah refinery to global markets after fulfilling al requirements. The exported 40,000-tonne …
Companies Investments
JPMorgan is the first global bank to assign Aramco an overweight rating
15 January 11:49 AM JPMorgan assigns Aramco overweight rating; SAR 37/shr PT
Riyadh – Mubasher: JPMorgan has initiated coverage of the Saudi Arabian Oil Company’s (Saudi Aramco) stock with an overweight rating and a price target (PT) of SAR 37 per share, Reuters reports. JPMorgan noted that it sees Aramco could increase …
Ratings
UAE’s imports from Brazil hit $2.21bn last year
14 January 06:37 PM Brazil exports $12.2bn worth of goods to Arabs in 2019
Mubasher: Brazilian exports to the Arab world grew 6.3% year-on-year to $12.197 billion in 2019, according to data released on Tuesday by the Arab-Brazilian Chamber of Commerce (ABCC). The value of the UAE’s imports from Brazil hit $2.21 billion …
Macroeconomics
Capital Market Authority
14 January 04:59 PM Saudi CMA approves Muqassa as QCCP
Riyadh – Mubasher: The Saudi Capital Market Authority’s (CMA) Board of Commissioners issued its resolution to authorize Securities Clearing Center Company (Muqassa) to provide securities clearing services in the Kingdom. Moreover, the resolution …
Markets Regulations
This decision will play a role in achieving Saudi Arabia's Vision 2030
14 January 04:48 PM Saudi CITC calls for licensing mobile virtual network operators
Mubasher: The Communications and Information Technology Commission (CITC), the Saudi telecom regulator, has asked applications to grant licences to foreign mobile virtual network operators, Reuters reported, citing Saudi’s CITC. "This decision …
Photo Archive
14 January 03:32 PM Saudi Arabia makes progress in human development – UNDP
Riyadh – Mubasher: Saudi Arabia score on the United Nations (UN) Human Development Index (HDI) has increased during 2019. Accordingly, Saudi Arabia’s global ranking advanced from the 39th place in 2018 to 36 last year, among 189 countries, …
Macroeconomics
The EGP exchange rate climbed to EGP 15.86 for buying
14 January 11:39 AM Egyptian banks receive $1.7bn foreign cash inflows in 4 days
Cairo – Mubasher: foreign cash inflows into banks operating in Egypt reached $1.7 billion in just four days ending on Monday, 13 January, according to a statement by the Central Bank of Egypt (CBE). Such inflows have helped push the Egyptian pound …
Banking and Finance
Prince Abdulaziz bin Salman speaking at IPTC 2020
13 January 12:13 PM Saudi Arabia underlines commitment to oil market stability
Riyadh – Mubasher: The Saudi Minister of Energy, Prince Abdulaziz bin Salman, has reiterated Saudi Arabia’s commitment to do all it can to ensure the stability of the global oil market. The minister’s remarks came during his keynote speech at the …
Macroeconomics
Movement of assets in Middle East expected to slow in coming years
12 January 03:21 PM Quarter of ME wealth mgt clients plan moving assets – EY Survey
Mubasher: Around 23% of wealth management clients in the Middle East (ME) are planning to move assets in the next three years, while 50% have already moved their assets in the past three years, a recent global survey by EY shows. Similarly, 23% of …
Macroeconomics
Egypt aims to expand into natural gas as an alternative to LPG
12 January 02:44 PM Egypt’s LPG sales drop 6% in H1-19/20
Cairo – Mubasher: Total sales of liquefied petroleum gas (LPG) fell by 6% year-on-year during the first half of fiscal year 2019/2020, the Egyptian minister of petroleum and mineral resources, Tarek El-Molla, said. The decline in local consumption …
Macroeconomics
The Ministry of Economy delegation visiting DMCC
12 January 12:06 PM DMCC plays vital role in diamonds, precious metals trade in Dubai
UAE – Mubasher: DMCC has recently hosted the UAE’s minister of economy, Sultan Bin Saeed Al Mansouri, to sum up the entity's role in streamlining, boosting, and driving global trade through Dubai. The minister toured Almas Tower and visited both …
Commodities
Gov't added 1,500MW clean energy to national electricity grid
11 January 08:46 PM Jordan attracts over $5bn clean energy investments
Mubasher: Jordan has expanded renewable energy share in its energy mix, attracting more than $5 billion in investments, the kingdoms’ ambassador to the UAE, Jumaa Al-Abadi, stated on Saturday, according to the Jordan News Agency (Petra). Since …
Macroeconomics
UK’s tourists topped the list of Dubai’s European visitors
11 January 07:58 PM Dubai welcomes 4.74m European tourists in 11M/19
By: Mahmoud Gamal Mubasher: The number of European tourists visited Dubai during the first 11 months of 2019 inched down 0.06% year-on-year, according to data compiled by Mubasher. European tourists visited Dubai from January to November 2019 …
Macroeconomics
The real estate market in Dubai is set to flourish this year
10 January 08:07 PM Ten reasons for confidence in Dubai’s real estate sector
By: Muhammad Abdul-Wakeel UAE – Mubasher: The real estate market in Dubai is set to flourish this year, backed by a series of positive indicators that are promising great outlook for the sector. Chairman of W Capital Real Estate Brokerage Company …
Real estate