ADNOC Gas Signs LNG Supply Agreement with PetroChina International
Abu Dhabi – Mubasher: ADNOC Gas, the global gas processing company, has signed an agreement to supply liquefied natural gas with PetroChina International Limited, a subsidiary of PetroChina Limited, one of the leading oil and gas producers and distributors in China. The company stated, in a statement, that the value of the agreement ranges from […]
Gold Prices Decline Slightly Amid Scant Trading and Dollar Weakness
Mubasher: By the end of trading today, Monday, gold prices headed towards a slight decline amid scant trading, supported by a slight decline in the dollar. There was little change in gold in spot transactions at $ 1939.61 an ounce, after it rose to the highest level in a month at $ 1952.79 on Friday. […]
The Potential Impact of US Interest Rate Increases on Global Economies
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 […]
Oil prices rise on supply shortage expectations
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 […]
Qatar Stock Exchange Trading: Meeza Leads Activity with Strong Market Growth
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 […]
Gold Prices Stabilize as Fed Hints at Continued Monetary Tightening Cycle – Market Update
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 […]
Shuaa Capital: Jassim Al Siddiqi’s Ownership Share Decreases to 21% after Private Deal
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 […]
Drake & Scull International: Accumulated Losses Reach 5.261 Billion Dirhams
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, […]
European Stocks Recover from Week-Low, Retail and Healthcare Sectors Lead Gains
Mubasher: European stocks closed higher today, Monday, recovering from their lowest level in about a week, as gains in the retail trade and healthcare sectors outweighed losses in the mining and energy sectors, which were affected by concerns related to the real estate sector in China. The Stoxx 600 index closed up 0.2%, after falling […]
UAE Emerging as a Major Investor in Africa with $59.4 Billion in Foreign Direct Investment
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 […]