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9 minutes ago African agriculture market shifts to mechanisation, ready for expansion
Mubasher: The $2.9 billion agriculture tractor market in Africa is expected to achieve a compound annual growth rate of 5.1% from 2019 to 2024.
1 hour ago Moody’s takes over risk intelligence technology leader RDC for $700m
Mubasher: Moody’s Corporation signed an agreement to acquire Regulatory DataCorp (RDC) for $700 million.
Brent crude was down by 2.1% or $1.38 on Wednesday
5 hours ago Kuwait oil slips to $65.66 pb on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil dipped by 2 cents on Wednesday, 22 January, to settle at $65.66 per barrel (pb) from $65.68 pb a day earlier, according to the official prices announced by Kuwait Petroleum Corporation (KPC). Globally, oil …
22 January 07:27 PM US’ Hilco Redevelopment Partners buys $240m refinery in Philadelphia
Mubasher: American real estate developer Hilco Redevelopment Partners has sealed a $240 million deal to buy the Philadelphia Energy Solutions oil refinery.
22 January 05:04 PM China likely to further pressure global LV sales in 2020
Mubasher: The world’s light vehicle (LV) sales fell to 89.8 million in 2019, its lowest level since 2015, declining by 4.8% year-on-year from 94.3 million.
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22 January 01:10 PM Aramco agrees LNG sale to S-Oil
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has reportedly sold a liquefied natural gas (LNG) cargo to South Korea’s S-Oil Corporation, through its trading arm Aramco Trading Company. The cargo was sold at around $4.40-$4.60 …
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22 January 11:01 AM Mubadala Petroleum completes farmout in 2 Indonesian blocks
UAE – Mubasher: Mubadala Petroleum announced the completion of an agreement to farmout a 20% participating interest in the Andaman I and South Andaman blocks in Indonesia to the UK’s Premier Oil following the approval of the Indonesian government. …
21 January 04:43 PM Kia Motors to invest $25bn in EV development by 2025
Mubasher: Kia Motors Corporation announced its mid- to long-term strategy, ‘Plan S’, which aims to strengthen the company’s leading position in the future automotive industry.
21 January 04:24 PM Facebook to create 1,000 jobs in London this year
Mubasher: Facebook is planning to hire 1,000 people in London in 2020, the company’s vice president for the EMEA Nicola Mendelsohn stated on Tuesday.
21 January 03:49 PM New EU rules pose challenge for car manufacturers - GlobalData
The industry will see a highly competitive year with new EU CO2 rules coming into effect
21 January 02:10 PM GlobalData sees positive outlook for construction industry in 2020
Mubasher: Prospects for the world’s construction industry in 2020 are generally positive, although it has been facing challenges to achieve growth momentum.
20 January 05:33 PM Hong Kong’s card payments may top 1bn in 2020 -GlobalData
Mubasher: Total number of card payments in Hong Kong is likely to increase to 1 billion in 2020 from 642.0 million in 2015, GlobalData said.
Finastra's solutions cover 90% of banks’ needs
20 January 11:19 AM Interview: We look to repeat Finastra Egypt Digital Trade Forum – Serge Tohme
Mubasher: Finastra was founded in 2017 from the merger of two fintech giants, D+H, a leading financial technology provider and Misys, which provides software solutions focused on retail and corporate banking services. Serge Tohme, Managing …
19 January 06:16 PM Swiss Nestlé to invest CHF 2bn in recycled plastics   
Mubasher: Swiss-based Nestlé will invest up to CHF 2 billion ($2.067 billion) to shift from virgin plastics to food-grade recycled plastics.
19 January 05:56 PM Huawei ranks 5th biggest investor in R&D globally
Mubasher: Huawei came in the fifth position for being one of the world’s biggest investors in research and development (R&D) in 2019.
19 January 02:25 PM Oracle eases moving to cloud solutions
Oracle is updating its enterprise management platform to make it easier for customers to move Oracle databases to the cloud
EBRD offered EUR 183m to Egypt's Electricity Transmission Company
19 January 11:34 AM Egypt leads EBRD’s annual investments in 2019
Mubasher: With EUR 1.2 billion new commitments in 26 projects, Egypt has led the European Bank for Reconstruction and Development’s (EBRD) annual investments list in 2019, for the second year in a row, compared to EUR 1.1 billion in 2018. This …
18 January 07:12 PM Toshiba’s CEO to add title of president in April 2020
​​​​​​​Mubasher: CEO of Japanese multinational conglomerate Toshiba Corporation is set to add the title of president in April 2020, Bloomberg reported on Saturday.
17 January 08:39 PM Commercial, military satellites market to record $195.11bn in 8 years
Mubasher: The global commercial and military satellite market is expected to record a CAGR of 76.6% to $195.11 billion in 2020- 2028.
17 January 04:44 PM Volkswagen to acquire $560m stake in Chinese EV battery maker
Mubasher: Volkswagen is nearing the closure of a deal to acquire a 20% stake in China’s electric vehicle battery maker Guoxuan High-tech Company.
16 January 09:18 PM Tesla considers building design & research centre in China
​​​​​​​Mubasher: Tesla is reportedly planning to open a design and research centre in China to make ‘Chinese-style’ vehicles, according to Reuters.
16 January 05:54 PM Package holiday market seen at $632bn by 2023 despite challenges
Mubasher: The global package holiday market has been experiencing several uncertainties since the collapse of the UK’s travel operator, Thomas Cook.
16 January 05:50 PM Isuzu partners with Honda for hydrogen fuel-cell technology
Mubasher: Isuzu and Honda have penned an agreement to conduct a joint research and development (R&D) on hydrogen fuel-cell powered heavy-duty trucks, according to GlobalData.
16 January 04:31 PM US’ Southwest Airlines extends cancellation of Boeing 737 MAX flights
Mubasher: US-headquartered Southwest Airlines has announced that it will extend cancellations of Boeing 737 MAX flights until 6 June 2020, Reuters reported on Thursday.
15 January 10:45 PM US, China seal deal to ease trade tensions
Mubasher: President Donald Trump on Wednesday signed a trade agreement with China which puts an end to the trade war between the two major economies.