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  • US industrial output growth picks up steam in November

    December 14, 2018 2:52 PM

    Mubasher: US industrial production expanded in November on the back of cold weather-induced utility usage, data by the Federal Reserve Bank showed on Friday. Industrial production, a gauge of factory, mining and utility output, rose 0.6% last November following a 0.2% decline in October and a 0.1% gain in September. Production at US factories, which

  • Tesla lowers China car prices after tariff drop US autos

    December 14, 2018 1:53 PM

    Mubasher: Tesla lowered prices for its Model S and Model X vehicles in China, after Beijing decided to suspend extra duties on autos imported from the US. The price of certain Model S vehicles was cut by up to 105,000 Chinese yuan (CNY) ($15,200) and Model X cars by up to CNY 65,000, the electric car giant said on its Chinese website. China would halt temporarily

  • China to halt 25% tariff on US autos

    December 14, 2018 12:57 PM

    Mubasher: China said it would temporarily put its extra 25% tariff on US vehicles on hold. China would suspend 25% tariffs on 144 vehicles and car components, imported from the US, and another 5% duties on further 67 auto items, the Chinese finance ministry said on its website. The relief would last for three months, starting from 1 January, within the framework

  • US weekly jobless claims drop 27,000 in early December

    December 13, 2018 2:00 PM

    Mubasher: US unemployment claims dropped 27,000 week-on-week to 206,000 claims in the week ended 8 December, data released on Thursday showed. The more stable monthly average of claims went down 3,750 to 224,750 from the previous week's upwardly revised average of 228,500, the US Department of Labor said. The initial seasonally adjusted insured unemployment

  • ECB holds interest rates; QE to end in December

    December 13, 2018 1:02 PM

    Mubasher: The European Central Bank (ECB) on Thursday decided to keep its key interest rates on hold. The ECB’s interest rate on its main refinancing operations will be kept at 0.00% while the interest rate on its marginal lending facility will be left at 0.25%, with -0.40% interest on deposit facility, according to the central bank. The interest rates

  • Philippines holds key rate after hiking streak on cooling inflation

    December 13, 2018 9:24 AM

    Mubasher: The Philippine central bank on Thursday held its benchmark interest rate steady, for the first time in six meetings as inflation pressures cooled, and the peso (PHP) strengthened. The rate on the overnight reverse repurchase facility was left unchanged at 4.75%, the Bangko Sentral ng Pilipinas (BSP) said in a statement in Manila on Thursday

  • 7 killed, dozens injured in Turkey train collision

    December 13, 2018 9:05 AM

    Mubasher: Seven people were killed and 46 others were injured in Turkey, after a high-speed train collided with another rail engine, crashing into a pedestrian overpass at Ankara train station on Thursday. Governor of Ankara Vasip Sahin initially confirmed that four people were killed in the accident, and later on, his office stated that seven people

  • Germany to support EU sanction extension against Russia – Merkel

    December 12, 2018 3:04 PM

    Mubasher: Germany would back an extension of the European Union’s (EU) sanctions against Russia at an upcoming summit of the bloc’s leaders, Chancellor Angela Merkel said on Wednesday. “We will call a spade a spade,” Chancellor Merkel told the German parliament, the Bundestag, stating that Germany “will call for extending sanctions.” “We do not accept

  • Levari’s Legal Clinic offers fees-free consultancy services to startups

    December 12, 2018 1:13 PM 2

    Cairo – Mubasher: The Legal Clinic, a specialised company in SME legal consultation, supported by Levari, said that it provides fees-free legal advice services for all startups and small and medium-sized enterprises (SMEs), along with a raft of other legal services with massive discounts. Startups do not give enough interest to legal matters, that is why we are here, SME legal

  • Trump hails China soybean ‘tremendous’ purchases

    December 12, 2018 12:33 PM

    Mubasher: President Donald Trump said that China was importing a “tremendous amount” of US soybeans, while talks with Beijing already started by telephone, with more meetings likely to take place among US and Chinese officials. China was “back in the market” to purchase soybeans after the truce in the trade conflict with the US announced on 1 December