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05 July 12:20 PM

Top News

2 July 04:44 PM US initial jobless claims surge 1.427m
The initial jobless claims in the US increased for the first time more than expected by 1.427 million in the week ending on 27 June.
Global Reports
1 July 05:41 PM Asia's economy likely to contract 1.6% in 2020
The IMF expected that Asia's economy will retreat by 1.6% for the first time in history during 2020.
Global Reports
1 July 04:21 PM EasyJet to slash jobs in Berlin, cancel German domestic flights
EasyJet said on Wednesday that it plans to cut jobs and the number of aircraft stationed in Berlin.
Global Economy
30 June 06:07 PM UK's economy slides to 40-year low in Q1-20
The UK’s economy witnessed the steepest drop since 1979 during the first quarter of 2020 as household spending collapsed to record levels.
Global Economy
29 June 05:15 PM UK aims to sell GBP 275bn of debt in 5M
The UK is looking to raise a record GBP 275 billion ($340 billion) of government debt from April until the end of August
Global Economy
29 June 05:02 PM BP to sell petrochem business to INEOS for $5bn
London-based BP has approved to sell its global petrochemicals business to INEOS, one of the world's largest chemical producers, at a total of $5 billion.
Global Reports
29 June 04:58 PM COVID-19 drug remdesivir priced at $2,340 per patient in US
Gilead Sciences Inc has set the price of its COVID-19 drug candidate remdesivir at $390 per vial for the US and other developed countries.
Global Reports
Mansour Group, from Egypt, came in first place
28 June 03:24 PM Top 100 Arab family businesses include 36 Saudi firms - Forbes
Mubasher: Saudi Arabia has dominated this year’s Forbes Middle East Top 100 Arab Family Businesses, which are seen as the backbone of the region's economy. Saudi Arabia came in the lead with 36 family businesses, followed by the UAE with 21 …
Global Economy
25 June 04:36 PM Global growth expected to slow down amid COVID-19 - IMF
The International Monetary Fund (IMF) expected that the global economy will grow at 4.9% in 2020, down 1.9% from its economic forecasts in April.
Global Reports
25 June 03:40 PM IATA projects airlines to lose $84bn in 2020
Air travel shrank by 98% year-on-year (YoY) in April 2020 as countries closed their borders in attempts to contain the coronavirus (COVID-19) pandemic.
Global Reports
25 June 02:27 PM Wirecard files for insolvency with $4bn owed to creditors
Mubasher: Wirecard will file for insolvency proceedings, owing its lenders nearly EUR 3.5 billion ($3.9 billion).
Global Economy
24 June 05:44 PM US mulls imposing $3.1 billion tariffs on EU exports
The US is considering imposing new tariffs worth $3.1 billion on exports from France, Germany, Spain, and the UK.
Global Reports
24 June 03:11 PM Wirecard’s former CEO freed on EUR 5m bail
The former CEO of Wirecard Markus Braun has been released from custody after being arrested on suspicion of falsifying the German payments firm’s accounts.
Global Reports
23 June 04:59 PM Eurozone's economic downturn sharply retreats in June
The eurozone's economic downturn was lowered for the second consecutive month in June as the lockdown and restrictions imposed amid coronavirus (COVID-19) are continuing to ease.
Global Reports
23 June 04:35 PM Uber launches new enhanced safety precautions amid COVID-19
Uber on Tuesday rolled out unprecedented safety measures to help everyone using its app to stay safe and sound.
Global Reports
23 June 04:33 PM Amazon launches $2bn clean energy venture capital fund
Mubasher: Amazon Inc announced the launch of The Climate Pledge Fund with an initial $2 billion in funding.
Global Reports
Pilgrims pray around the Kaaba, Hajj 2019 - (Photo Credit: Getty Images)
23 June 11:20 AM Saudi Arabia to limit Hajj this year to citizens, residents
Riyadh - Mubasher: Saudi Arabia has allowed the Hajj for this year to go forward with a small number of pilgrims, limited to citizens and residents aged 65 or younger, who are already in the kingdom, the Saudi Ministry of Hajj and Umrah said in a …
Global Economy
22 June 05:31 PM Lufthansa seeks to find solution over bailout terms
Lufthansa seeks to resolve the dispute over the terms of a EUR 9 billion bailout.
Global Reports
22 June 04:43 PM Wirecard’s missing EUR 1.9bn likely never existed
Wirecard said that EUR 1.9 billion ($2.1 billion) in missing cash from its accounts likely never existed.
Global Economy
22 June 04:35 PM Toyota plans 10% fewer vehicle output in July
Toyota Motor Corp will make 10% fewer vehicles in July than what was originally planned.
Global Economy
18 June 06:10 PM IEA sets $3trn green economic recovery plan
IEA has developed a $3 trillion green economic recovery plan to help governments to sustainably rebound their economies.
Global Reports
18 June 05:14 PM German payments firm Wirecard informed of missing EUR 1.9bn
Mubasher: The German payments group Wirecard announced that EUR 1.9 billion of cash was missing.
Global Economy
18 June 02:53 PM Ford plans to offer hands-free driving next year
Ford Motor will offer hands-free driving on several models in autumn 2021
Global Economy
18 June 02:21 PM Twitter begins testing voice tweets for first time
A single voice tweet has a limit of 140 seconds
Global Reports
Minister of International Cooperation - Rania Al-Mashat
17 June 05:54 PM AfDB supports Egypt’s electricity, green growth with EUR 225m
Cairo – Mubasher: The African Development Bank Group (AfDB) approved the provision of EUR 225 million to finance Egypt’s Electricity and Green Growth Support Program (EGGSP).  The facility will help the Egyptian government in meeting its financing …
Macroeconomics