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29 May 04:05 AM

Local Economy

The per-litre price of Super 98 gasoline will be maintained at AED 1.91
28 May 05:31 PM UAE announces fuel prices for June
UAE – Mubasher: Fuel prices will remain unchanged in June in the UAE when compared to prices in May, the UAE Fuel Price Follow-up Committee announced. The per-litre prices of Super 98-octane gasoline, Special 95-octane gasoline, diesel, and E-Plus …
Commodities
The death toll amounted to 441
28 May 04:53 PM Coronavirus cases in KSA exceed 80K
Riyadh – Mubasher: The Saudi Ministry of Health reported 1,644 new coronavirus (COVID-19) cases on Thursday, bringing its total to 80,185. In addition, a total of 3,531 patients recovered in the past 24 hours, increasing the number of recoveries …
Saudi oil export revenue declined by more than 50% in March
28 May 11:57 AM Saudi oil export revenue hits SAR 150bn in Q1-20
By: El-Sayed Gamal Riyadh – Mubasher: Saudi Arabia’s oil export revenue shrank year-on-year (YoY) during the first quarter of 2020, pressured by a significant drop in revenue in March as a result of the decreased demand for oil amid the …
Macroeconomics
Brent crude oil for July delivery retreated by 4.6% or $1.65
28 May 10:58 AM Kuwait’s crude oil down to $28.05 pb – KPC
Mubasher: The price of Kuwait’s crude oil fell by 56 cents to $28.05 per barrel (pb) on Wednesday from $28.61 pb on Tuesday, according to the official prices released by Kuwait Petroleum Corporation (KPC). Globally, Brent crude oil for July …
Macroeconomics
The Ministry of Health announced the detection of 1,815 new COVID-19 cases
27 May 05:10 PM KSA lifts ban on private-sector workplace attendance
Riyadh – Mubasher: The Saudi Ministry of Human Resources and Social Development has lifted the ban on workplace attendance in the private sector after the GCC nation’s coronavirus (COVID-19) tally recorded 78,541. In addition, government employees …
All necessary health measures will be taken to contain the spread of the COVID-19
27 May 12:27 PM KSA to resume local flights, railway operations
Riyadh – Mubasher: The Saudi General Authority of Civil Aviation (GACA) announced that domestic flights through national carriers will be resumed on Sunday, 31 May. GACA will coordinate operations with airports, air carriers, civil aviation …
Macroeconomics
Saudi Ministry of Health
26 May 05:43 PM Saudi Arabia reports 1,931 coronavirus cases on Tuesday
Riyadh – Mubasher: Saudi Arabia has reported 1,931 new cases of the coronavirus disease (COVID-19), according to the Ministry of Health’s daily report. This brings the total number of cases in the kingdom to 76,726 cases, with 411 death cases. …
The outlook on all ratings was changed to ratings under review
26 May 04:48 PM Moody’s downgrades Arabian Centres ratings
Riyadh – Mubasher: Moody’s Investors Service has downgraded Arabian Centres Company's (ACC) corporate family rating (CFR) to ‘Ba2’ from ‘Ba1’. The rating on the $500 million Sukuk, which was issued by Arabian Centres Sukuk Limited and due in 2024, …
Ratings
Photo Archive
26 May 02:43 PM Oman crude oil up 68 cents on Tuesday
Mubasher: The price for Omani crude oil for July delivery increased by 68 cents on Tuesday, according to the Dubai Mercantile Exchange (DME). The barrel price amounted to $37.70 on Tuesday, compared to $37.02 on Monday. The price for June …
Commodities
The situation across the kingdom is set to return to normal by 21 June
26 May 10:47 AM Saudi Arabia to begin easing, lifting curfew restrictions
Riyadh – Mubasher: Saudi Arabia will begin phasing out the curfew, imposed as a precautionary measurement against the spread of the coronavirus (COVID-19), starting next Thursday. On 28-30 May, the curfew’s exception time will be from 6:00 a.m. to …
Macroeconomics
Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla
25 May 01:41 PM Egypt plans EGP 19bn investments in petrochemical projects
Cairo - Mubasher: The Egyptian Ministry of Petroleum and Mineral Resources is considering the implementation of 11 new petrochemical projects at a total value of around EGP 19 billion, Minister of Petroleum and Mineral Resources Tarek El-Mulla …
Macroeconomics
Saudi Arabia confirmed 2,284 recovered cases
24 May 04:08 PM Saudi Arabia's COVID-19 cases total 72,560
Riyadh – Mubasher: Saudi Arabia's total coronavirus (COVID-19) cases reached 72,560 after recording 2,399 new cases, the Saudi Ministry of Health revealed on Sunday. Saudi Arabia confirmed 2,284 new recovered cases, raising the total number of …
Saudi total foreign trade volume amounted to SAR 320bn
24 May 01:52 PM Saudi trade balance records SAR 75.73bn surplus in Q1-20
Riyadh – Mubasher: Saudi trade balance showed a surplus of around SAR 75.73 billion during the first quarter (Q1) of 2020, as the total foreign trade volume of Saudi Arabia amounted to around SAR 320 billion. The merchandise exports and …
Macroeconomics
Photo Credit: Saudi Press Agency (SPA)
24 May 11:29 AM Saudi Arabia to invest in Iraq’s Akkas gas field
Mubasher: Saudi companies plan to invest in Iraq’s Akkas gas field, as per a recent agreement between the two countries, Reuters reported. Both countries are also cooperating to ensure restoring the global oil market balance, in line with the …
Commodities
Saudi Minister of Finance, Mohammed Al Jadaan
24 May 11:20 AM Saudi economy capable of facing coronavirus crisis – Minister
Riyadh – Mubasher: The Saudi economy remains solid and resilient against the new coronavirus (COVID-19) crisis, despite the need to rationalize public spending, said the Saudi Minister of Finance and acting Minister of Economy and Planning, …
Macroeconomics
Hotels in five governorates could reopen after receiving the safety certificate
24 May 11:13 AM Egypt grants health safety certificates to over 70 hotels
Cairo - Mubasher: More than 70 hotels in Egypt last week have received the health safety certificate, which is necessary for resuming their operations, according to Egypt’s tourism and antiquities minister. Receiving the certificate came after …
Sector Reports
Egypt's production of natural gas increased to 7 bcf in September
24 May 10:41 AM Egypt's natural gas production reaches 7.2 bcf per day
Cairo - Mubasher: Egypt's daily production capacity of natural gas reached an average of 7.2 billion cubic feet (bcf), Reuters reported citing a recent statement by the Egyptian cabinet. In September, Egypt's production of natural gas increased to …
Macroeconomics
HMM Algeciras containership's length is around 400 metres
24 May 10:29 AM World's largest container to cross Egypt's Suez Canal
Cairo - Mubasher: The Suez Canal will receive South Korea's HMM Algeciras, the world's largest containership, the Egyptian Ministry of Transport announced in a recent statement. The 24,000-TEU-class vessel will pass through the canal as after …
Global Economy
The wholesale price index declined by 1.8% MoM
21 May 03:51 PM Saudi wholesale prices rise 0.6% in April
Riyadh – Mubasher: The Saudi wholesale price index (WPI) inched up by 0.6% year-on-year (YoY) in April 2020, recording its lowest level in a year, according to the latest data by the General Authority for Statistics (GaStat). The increase in the …
Macroeconomics
Total fatalities in Kuwait increased to 129 on Thursday
21 May 02:54 PM Kuwait registers 1,041 more COVID-19 cases on Thursday
Mubasher: Kuwait on Thursday reported 1,041 new infections of the coronavirus (COVID-19), bringing the total count to 18,609 cases, according to the country's health authorities. Total recoveries have increased by 320 in the past 24 hours to stand …
Global Economy
Photo Archive
21 May 01:22 PM CMA objects to AXA Cooperative Insurance 2019 dividends
Riyadh – Mubasher: AXA Cooperative Insurance Company has received a letter of objection from the Saudi Capital Market Authority (CMA) regarding the company’s plan to distribute cash dividends to shareholders for fiscal year (FY) 2019. The …
Markets Regulations
Global oil prices jumped by 5% on Wednesday
21 May 12:00 PM Kuwait’s crude oil down 3 cents on Wednesday – KPC
Mubasher: The price of a barrel of Kuwait’s crude oil settled lower by 3 cents on Wednesday to stand at $26.89 when compared to $26.92 a barrel a day earlier, according to the official prices released by the Kuwait Petroleum Corporation (KPC). …
Macroeconomics
David Parker - co-chief Investment officer for the Financial Services sector at EDB
21 May 11:39 AM GCC sees growing trend for fintech platforms amid COVID-19 crisis
Mubasher: The GCC region is set for a big leap in the use of financial technology applications amid the coronavirus (COVID-19) outbreak with the Middle East and Africa (MEA) region witnessing a 70% growth in the use of contactless payments, …
Sector Reports
Disinfection gates pose health risks to people
21 May 11:26 AM Disinfection gates proving ineffective against coronavirus
Mubasher: Sterilisation gates and rooms placed at the entrance of public places have not proven their effectiveness in curbing the spread of the highly contagious coronavirus (COVID-19), assistant secretary at the Kuwaiti Ministry of Health, …
Global Economy
The new solution provides accurate diagnostic results
21 May 09:47 AM Kuwaiti researchers develop new COVID-19 PCR test
Mubasher: A Kuwaiti research team has successfully developed a Polymerase Chain Reaction (PCR) test solution for the new coronavirus (COVID-19), Kuwait News Agency (KUNA) reported. The new test has excellent and accurate diagnostic results …
Global Economy