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  • Oman named world’s safest country

    October 17, 2018 3:52 PM

    Oman – Mubasher: Oman has been named the safest country in the world, according to the Global Competitiveness Report 2018, released by the World Economic Forum (WEF). Oman’s police service was ranked the best amongst its Arab peers, while the Royal Oman Police (ROP) was rated fifth globally in terms of the 'liability of police services'. In response

  • YouTube service restored after major outage Wednesday

    October 17, 2018 3:26 PM

    Mubasher: Global video streaming service YouTube suffered a major outage earlier on Wednesday, displaying no videos and an error page when users attempted to use the website or its mobile app versions. When users attempted to access YouTube, they were greeted with a blank page and no videos. Meanwhile, the YouTube app gave users an error message that said: "There

  • OPEC warns against mentioning oil prices

    October 17, 2018 1:12 PM

    Mubasher: The Organization of the Petroleum Exporting Countries (OPEC) has called upon members not to mention oil prices when discussing production policy. Officials are advised not to mention prices in order to avoid the risk of a legal action in the United States for manipulating the market, Reuters reported on Wednesday. An old proposed law known

  • US housing starts decline 5.3% in September

    October 17, 2018 1:11 PM

    Mubasher: The US Commerce Department on Wednesday reported a 5.3% month-on-month drop in housing starts in September to a seasonally adjusted annual rate of 1.201 million. Residential building permits, which indicate the volume of construction work in progress, also declined 0.6% last month from August to an annual pace of 1.241 million last month, the report

  • T-Mobile to power HQ with 100% green energy by 2021

    October 17, 2018 12:55 PM

    Mubasher: T-Mobile has unveiled plans to operate its headquarters in Bellevue using only renewable energy by 2021. The US-based mobile operator signed a deal with Puget Sound Energy’s (PSE) Green Direct programme so that it can receive a mix of “local wind and solar renewable energy sources” to power its Bellevue, Washington, headquarters. This step will help T-Mobile

  • Tesla to launch new factory in China

    October 17, 2018 12:37 PM

    Mubasher: Tesla on Wednesday announced that it acquired an 864,885 square-metre plot in Shanghai's Lingang area to establish a new electric car factory, according to Shanghai Municipal People's Government. The company did not disclose a value for the plot it acquired not the expected cost of the plant. The project will be funded through local debt and Tesla's

  • World’s 10 wealthiest people add $16.8bn week after markets’ rout

    October 17, 2018 11:15 AM

    Mubasher: One week after Wall Street spurred a rout in global stock markets, the world’s 10 wealthiest people added a total of $16.8 billion. For the first time since its launch in March 2012, the Bloomberg Billionaires Index, which tracks the richest 500 people in the world showed that every one of the top 10 wealthiest people in the world added at least

  • GCC members raise holdings in US T-bills

    October 17, 2018 10:52 AM

    Mubasher: GCC member states have raised their holdings of US treasuries and bonds by a combined 0.9% to $285.574 billion in August from $283 billion in July. Globally, China continued to take the lead on US treasury holdings. Kuwait came in second on the list in terms of holdings with $43.6 billion, up 1.6% month-on-month in August from $42.9 billion

  • China reduces US Treasuries for 3rd M in August

    October 17, 2018 10:16 AM

    Mubasher: China lowered its holdings in the US Treasuries for the third month in a row last August as Beijing struggled to curb the yuan’s (CNY) further decline amid trade tensions with the US. The Asian nation’s investments in US bonds, bills and notes totalled $1.165 trillion in August, declining from $1.171 trillion in July, the Treasury Department

  • UK output price inflation edges up to 3.1% in September

    October 17, 2018 8:54 AM

    Mubasher: The UK producer price index (PPI) for the goods leaving factories rose to 3.1% on the year to September, from 2.9% in August, as input costs rose, according to official data released on Wednesday. The rising output annual inflation was driven by higher prices for materials and fuels used in the manufacturing process, which rose to 10.3% last September