Cairo – Omar Hassan: The US Federal Reserve left the door open to expectations regarding the fate of the interest rate during its next meeting in September, after its recent decision last July to raise interest rates by 25 basis points. The Fed mortgaged the fate of interest with the following economic data, on the … Read more
Abu Dhabi – Mubasher: The Abu Dhabi National Oil Company (ADNOC) said today, Sunday, that it has set the official selling price for standard Murban crude at $87.28 a barrel for the month of October, an increase of 8% from $80.78 a barrel for the month of September. Oil prices rose in Friday’s trading session … Read more
Doha – Mubasher: The Qatar Stock Exchange started trading today, Sunday, in green color, with the newly listed “Meeza” company leading the trading activity at all levels. And by 09:50 am Qatar time, the general index increased by 0.21% to reach 10386.89 points, gaining 22.04 points from last Thursday’s level. The stock exchange recorded transactions … Read more
Mubasher: Gold prices stabilized during trading today, Wednesday, supported by expectations that the Federal Reserve has not yet finished the monetary tightening cycle. And by 09:35 am GMT, gold settled in spot transactions at $ 1903.50 an ounce. US gold futures also settled at $1935.60 an ounce. As for other precious metals, spot silver rose … Read more
Dubai – Mubasher: Shuaa Capital announced that Jassim Al Siddiqi’s share has decreased to 21 percent of the company’s capital, which he indirectly owns. Shuaa indicated that this comes after he sold a share of 71.5 million shares through a private deal. The ownership of the former board member was around 25% before he announced … Read more
Dubai – Mubasher: Drake & Scull International said that the accumulated losses amounted to 5.261 billion dirhams, constituting 491 percent of its capital, amounting to 1.071 billion dirhams.The company stated in a statement that the main reasons that led to the accumulation of losses include existing works and contracts receivable in old projects in Oman, … Read more
Abu Dhabi – Mubasher: The UAE has entered strongly in the competition for the investment market in Africa, as foreign direct investment flows from the UAE to Africa amounted to about $59.4 billion between 2012 and 2022. The African website said that Africa has become one of the most important markets in the UAE, as … Read more
Mubasher: Oil prices rose at the settlement of trading today, Thursday, with market optimism that countries from the “OPEC +” alliance will extend implementation of decisions to voluntarily reduce crude production and exports, before their upcoming meeting. The Saudi Press Agency quoted an official source in the Ministry of Energy as saying that Saudi Arabia … Read more
Abu Dhabi – Mubasher: The International Holding Company announced that it achieved net profits during the first half of the year 2023, by about 10.4 billion dirhams, compared to profits of 10.35 billion dirhams in the first half of the year 2022. The company’s revenues rose to 28.7 billion dirhams in the first half, a … Read more
Abu Dhabi – Mubasher: The ENOC Group, the energy company, signed today, Wednesday, a strategic agreement with the Retired Military Association in Abu Dhabi to continue developing the fuel retail infrastructure in the UAE and contribute to meeting the growing energy needs. Under the agreement, ENOC will study between 40 and 60 strategic locations to … Read more