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  • 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

  • Uber could be valued at $120bn in IPO–reports

    October 16, 2018 2:46 PM

    Mubasher: Uber could put forth an initial public offering (IPO) earlier in the next year that could place the US ride-hailing company’s value at $120 billion, according to news reports. Uber received valuation proposals from Goldman Sachs and Morgan Stanley, The Wall Street Journal (WSJ) reported on Tuesday, citing sources familiar with the matter

  • US job openings hits peak of 7.1m late August

    October 16, 2018 2:16 PM

    Mubasher: The number of job openings announced by US businesses in the last business day of August reached a series high of 7.1 million, official data showed on Tuesday. The job opening rate was 4.6% in August, while the number of job openings was slightly changed from the total nonfarm, total private and government. The quits rate stabilised at 2.4% in August

  • Google’s cloud chief drops out of Saudi investment summit

    October 16, 2018 10:23 AM

    Mubasher: Google’s cloud division CEO Diane Greene would withdraw for the upcoming “Davos in the Desert” summit in Saudi Arabia, joining a chorus of US business leaders who pulled out following the disappearance of a Saudi journalist. "We can confirm Diane Greene will not be attending the FII Summit," said a Google spokesperson in a written statement

  • Eurozone trade surplus shrinks YoY in August; EU28 posts deficit

    October 16, 2018 9:24 AM

    Mubasher: The preliminary reading indicated that Eurozone trade balance surplus reached EUR 11.7 billion ($13.55 billion) in August, down from EUR 15.3 billion in the same month last year. Trade balance for the 28 Members of European Union (EU28) recorded a deficit of EUR 8.4 billion ($9.72 billion) last August, higher than EUR 6.1 billion for the same month

  • GFH stock rises despite BHB’s downward performance on Tuesday

    October 16, 2018 9:04 AM

    Mubasher: The stock of GFH Financial Group registered a rise despite the decline of Bahrain Bourse (BHB) on Tuesday. By 11:30 am Bahrain time, GFH gained 1.45%, hitting the highest trading volume of 1.48 million shares at a value of about KWD 518,700. Ten transactions were registered on GFH's stock at a valued of $0.350 per share. The benchmark index

  • US shale oil output to rise 98,000 bpd in November

    October 16, 2018 8:29 AM

    Mubasher: Crude oil production from the seven most prolific US shale regions was set to jump by 98,000 barrels per day (bpd) to a total of 7.714 million bpd in November, official report said. Oil production in the Permian Basin, which covers western parts of Texas and southeastern New Mexico would make the largest contribution with an increase of 53,000 bpd in November

  • Chinese annual inflation hits 7M-peak in September on food prices

    October 16, 2018 8:02 AM

    Mubasher: Chinese consumer price inflation (CPI) grew at the fastest momentum in seven months in September, fuelled by a spike in food prices ahead of a week-long public holiday at the beginning of this month. CPI grew by 2.5% in the year to last September, picking up steam from 2.3% in the 12 months ended last August, ahead of Golden Week holidays earlier

  • US budget gap expands to 6-yr peak on higher expenditure

    October 15, 2018 7:32 PM

    Mubasher: The US federal budget deficit widened in the fiscal year 2018 to the highest level in six years, driven by higher spending, official data revealed on Monday. The deficit climbed 17% or $113 billion higher to $779 billion in the fiscal year ended last September, compared to the previous period, a statement from US Treasury Secretary Steven Mnuchin

  • Japan’s PM to proceed with sales levy hike next year

    October 15, 2018 6:08 PM

    Mubasher: Japanese Premier Shinzo Abe on Monday vowed to proceed with an increase in the national sales tax in the same month next year. The government would weigh tax breaks for durable goods purchases, including cars and houses, and prepare a plan for easing cost burdens on small firms and retailers when the sales tax is raised to 10% from 8% in October