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  • More than 40 Muslim countries to join forces to fight terrorism

    November 26, 2017 1:57 PM 10

    Riyadh- Mubasher: Saudi Crown Prince Mohammed bin Salman said that there are more than 40 Muslim countries are joining forces to coordinate their military, intelligence, financial and political efforts in order to eradicate the extremist ideology, sending a clear message of unity in the fight against terrorism, Bin Salman said in the opening remarks

  • Canada household debts hit highest level globally – OECD

    November 24, 2017 1:39 PM 9

    Mubasher: Canadian household debts reached the highest level internationally, as these debts' ratio reached 101% of the gross domestic product (GDP), said a recent report by The Organisation for Economic Co-operation and Development (OECD) on Thursday. There was a large increase in the prices of houses in Canada, in line with a rise in debts’ ratio

  • Russia remains largest oil supplier to China for eighth month in row

    November 24, 2017 10:34 AM 15

    Mubasher: Russia remained the largest crude oil supplier to China for the eighth consecutive month, despite Russian cargoes to the Asian country decreased in October. Russian crude oil cargoes to China stood at 4.649 million tonnes (1.095 million barrels) on a daily basis in October, compared to 1.545 million barrels in September, China General Administration

  • Euro zone’s employment hits 17-yr high in November

    November 23, 2017 11:54 AM 6

    Mubasher: Employment in the euro zone soared in November, registering its highest level in 17 years, according to the data of Purchasing Managers’ Index, IHS Markit Flash Eurozone PMI. Eurozone PMI Composite Output Index hit 57.5 points in November, compared to 56 points in October, registering its highest increase since 79 months, the data added

  • Tesla to trial world’s largest battery storage facility

    November 23, 2017 11:02 AM 4

    Mubasher: Electric car maker Tesla Inc is to trial world's largest lithium ion battery facility in South Australia by December 2017. In July, Tesla announced that it would build the facility within 100 days. “Battery storage is the future of our national energy market, and the eyes of the world will be following our leadership in this space,” according

  • Eurozone economic activity hits 7-yr high in November

    November 23, 2017 10:29 AM 8

    Mubasher: The Eurozone’s economic activity rose in the manufacturing and services segments in November from a month earlier, data released by IHS Markit for the Purchasing Managers’ Index (PMI) on Thursday showed. Eurozone activity rose to 57.5 points in November 2017, its highest level in seven years or since April 2017, compared to 56 points in the month

  • Oil prices down amid higher US oil rigs

    November 23, 2017 7:37 AM 4

    Mubasher: Oil prices dropped on Thursday, in line with investors’ anticipation of the Organization of the Petroleum Exporting Countries’ meeting next week and whether it will extend production cuts. Drillers of the US energy firms added nine oil rigs this week, reaching a total of 747 rigs, Baker Hughes, a GE company (BHGE) revealed. By 6:32 GMT, Brent

  • UAE’s firm begins building a $90m naval base in Somalia

    November 22, 2017 3:53 PM 18

    Mubasher: Divers Marine Contracting announced on Wednesday the beginning of constructing UAE’s new naval base in Somali, after winning a contract of $90 million in April, Arabian Business reported, citing company managing director Abdulla Darwish as saying. He added that the base facilities, which are adjacent to the regional port of Berbera, are expected

  • Singapore to introduce self-driving buses in 5 yrs

    November 22, 2017 1:23 PM 4

    Mubasher: Singapore’s ministry of transport announced on Wednesday that it hoped to deploy autonomous buses on public roads in three different districts of the city-state from 2022 to provide better connectivity, as reported by Reuters. Singapore aims at encouraging more residents to increase their usage of shared vehicles and public transportation

  • Samsung to create new AI unit

    November 22, 2017 1:14 PM 11

    Mubasher: Samsung Electronics Company said on Wednesday that it would create an artificial intelligence (AI) research center. The tech giant will look forward to and strengthen an executive role to look for new business areas for all its three major business groups. The structural changes are a quick response to market changes, according to the company’s