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  • Qatar to invest $15bn in troubled Turkey

    August 15, 2018 6:13 PM

    Mubasher: Qatar will pump investments of $15 billion in Turkey across a number of projects, as announced by Qatari Emir Sheikh Tamim bin Hamad Al Thani during his meeting with Turkish President Recep Tayyip Erdogan. The two leaders discussed bilateral relations, and regional matters, according to a statement by the Turkish presidency. Currency depreciation

  • Turkey budget surplus expands in July

    August 15, 2018 2:16 PM

    Mubasher: Turkish central government budget posted a surplus of 1.13 billion Turkish liras (TRY) ($184 million) in July, the Treasury and Finance Ministry reported on Wednesday. The surplus widened last month from TRY 925.6 million a year ago, as budget revenues jumped nearly 18% year-on-year to TRY 61.8 billion. Budget expenditures in July totalled

  • UK output price inflation falls to 3.1% in July

    August 15, 2018 9:11 AM

    Mubasher: The UK producer price Index (PPI) for the goods leaving factories declined to 3.1% on the year to July, from 3.3% in June, while input prices rose, official data released showed on Wednesday. The falling output annual inflation came despite the upward contributions from all product groups, with the largest coming from the rising petroleum goods

  • UK inflation ticks up to 2.5% in July

    August 15, 2018 8:56 AM

    Mubasher: The UK’s consumer price index (CPI), the country’s headline inflation indicator, ticked up to 2.5% year-on-year in July, compared with 2.4% in June, official data showed on Wednesday. The price index, covering the costs of owner occupiers’ housing, (CPIH) 12-month rate, stood at 2.3% in July, unchanged from the previous month, the Office for National

  • Oil settles lower after mixed performance

    August 14, 2018 8:31 PM 1

    Mubasher: Oil prices fell on Tuesday, despite rising earlier in the session due to the fluctuations of exchange rates. Crude prices saw a mixed performance today, as markets anticipate the release of the United States oil inventories data. The American Petroleum Institute (API) is scheduled to issue its weekly report later. Nymex futures decreased by 16 cents

  • Brexit deal should be flexible

    August 14, 2018 6:03 PM 1

    Mubasher: German Chancellor Angela Merkel said on Tuesday that any agreement between the United Kingdom and the European Union should be flexible in a way that allows for future changes and modifications. “Hopefully it will not come to an unregulated Brexit, but rather to a reasonable, negotiated agreement,” Merkel was quoted by Reuters. “The exit agreement

  • US household debt nearly triples in Q2

    August 14, 2018 5:32 PM

    Mubasher: Household debts in the United States increased to $13.29 trillion in the second quarter of 2018, compared with $454 billion in the same period last year. This is the 16th consecutive quarter of increases, as shown by the data of the New York Federal Reserve report released on Tuesday. American consumer debt stood $618 billion higher than the previous

  • US import inflation accelerates to 6.5-yr high in July

    August 14, 2018 2:33 PM 1

    Mubasher: The costs of the US import remained flat in July after declining in June, but the annualised rate of increase hit the highest level seen in a six and a half year period, data released on Tuesday showed. The price index for the country’s imports remained unchanged in July, compared to a month earlier, while the import prices, without fuel prices

  • Ithmaar Holding achieves $10.8m profit in 6M

    August 14, 2018 12:57 PM

    Kuwait – Mubasher: Ithmaar Holding has reported a net profit of $10.82 million in the first six months of 2018. The Dubai-, Bahrain-, and Kuwait-listed company also registered earnings per share (EPS) of $0.32 in H1-18, according to a bourse statement released on Tuesday. The half-year results included a net profit of $6.01 million for the three-month

  • Eurozone, EU28 Q2 economic growth confirmed at 0.4%

    August 14, 2018 9:47 AM 1

    Mubasher: Gross domestic product (GDP) in Eurozone and the 28-member European Union (EU28) rose 0.4% in the second quarter of 2018, compared with the previous quarter. GDP growth in the first quarter of 2018 was also 0.4% for Eurozone and the EU28, the Eurozone’s statistical office’s, the Eurostat, flash estimates showed on Tuesday. Year-on-year, GDP grew 2.2% in both areas