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  • Oil prices flat after OPEC deal to cut production

    September 29, 2016 4:17 AM 34

    Mubasher: Oil prices were flat in Thursday's early trade after OPEC members surprisingly decided to curb their output. By this initial agreement, the members would finalize in the next formal meeting on 30 November in Vienna all details on their oil cut compromise from 33 million barrels a day to 700,000 barrels. By 4:00am GMT, Brent crude futures for November

  • GCC markets likely to rebound on OPEC cut deal – analysts

    September 29, 2016 3:32 AM 15

    Mubasher: GCC stock markets are forecast to bounce back on Thursday after OPEC-members agreed yesterday to lower their collective oil production later this year, which sent oil prices higher, according to analysts. By this initial agreement, the member would finalize in the next formal meeting on 30 November in Vienna all details regarding their oil cut compromise

  • Oil prices upsurge 6% after OPEC agreement

    September 28, 2016 8:59 PM 13

    Mubasher: Oil prices surged nearly 6% on Wednesday after it was reported that the Organization of the Petroleum Exporting Countries (OPEC) has struck a deal to limit crude output at its policy meeting in Algeria. The agreement limits OPEC’s production by nearly a million barrels per day to 32.5 million bpd, sources told Reuters. This the first agreement

  • US crude oil inventories fall

    September 28, 2016 3:26 PM 11

    Mubasher: US crude oil inventories decreased, according to data revealed by the Unites States Energy Information Administration on Wednesday. The US oil stocks went down by 1.88 million barrels during the week ended 23 September, compared to a 6.2 million barrels decline in the week before, despite a forecasted 2.99 million barrels increase. The American

  • Diyar Al Muharraq signs $366m finance deal

    September 28, 2016 12:06 PM 12

    Mubasher: Diyar Al Muharraq signed a Murabaha deal worth $366 million with a group of local banks including Al Salam Bank – Bahrain, Kuwait Finance House, Bank of Bahrain and Kuwait, and Al Baraka Islamic Bank of Bahrain, according to a bourse statement. The deal aims to finance the development of ‘Deerat Al Oyoun’ social housing project. The participating

  • Gold prices down in early trade

    September 28, 2016 4:14 AM 10

    Mubasher: Gold prices saw a slide in Wednesday's early trades ahead of the US Federal Reserve Chair Janet Yellen's speech in the congress on the outlook for key interest rates. By 4:05am GMT, spot gold inched down 0.1% to $1,335.9 per ounce, while US gold futures were placed at $1,328.75 an ounce, down $1.65 from the previous quote. The US dollar index

  • TRA holds workshop on negotiation skills

    September 27, 2016 10:45 AM 5

    Manama, Sep. 27 (BNA): The Telecommunications Regulatory Authority (TRA) has held an internal workshop on Negotiation Skills, in collaboration with KPMG,. "Negotiation skills are important in any field, and it’s important to us in the TRA that our staff members have a competent understanding of how best to prepare for and conduct negotiations in day to day business

  • Investcorp achieves record levels of acquisitions activity in 12 months

    September 26, 2016 6:39 AM 10

    Bahrain - Mubasher: Bahrain - based Investcorp said its real estate arm in US has acquired five multifamily apartment properties and five student-housing properties in several major metropolitan markets across the United States. The conclusion of these deals represents the culmination of a 12-month period during which Investcorp saw record investment

  • Oil nears $47 per barrel in early trade

    September 26, 2016 3:30 AM 13

    Mubasher: Oil prices rose in Monday's early trade nearing $47 a barrel; however, the future scene is still unclear ahead of the two-day OPEC meeting, which will start today, that could reverse the present gains. By 3:20am GMT, Brent crude and WTI futures added 34 cents to level up at $46.82 and 44.82 per barrel. Oil prices are likely to remain volatile

  • CBE to sell $120m on Tuesday

    September 24, 2016 9:07 PM 10

    Cairo – Mubasher: The Central Bank of Egypt (CBE) will hold a regular dollar sale for $120 million on Tuesday. The CBE held the pound steady at EGP 8.78 per US dollar in last week’s sale, as per official data. On 28 July, Egypt's Central Bank also maintained the interest rates steady, with the overnight deposit rate, overnight lending rate, and the rate of the CBE’s