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  • Apple plans to reduce iPhone production in Q1 – Report

    January 9, 2019 12:37 PM 4

    Mubasher: Apple reduced planned production for its three new iPhone models by 10% for the first quarter of this year, according to a recent report. Apple requested its suppliers last December to produce fewer-than-planned units of its XS, XS Max and XR models, the Nikkei Asian Review reported on Wednesday, citing sources familiar with the matter

  • OPEC oil output marks 6M low in December – Survey

    January 9, 2019 11:35 AM 4

    Mubasher: Crude production from the 15-member Organization of Petroleum Exporting Countries (OPEC) dropped 630,000 barrels per day (bpd) in December 2018, a recent survey found. The producer group’s oil output hit a six-month low of 32.43 million bpd last December, compared with the previous month, an S&P Global Platts survey released Tuesday showed

  • World Bank lowers 2019 global growth forecast to 2.9%

    January 9, 2019 10:05 AM 4

    Mubasher: The World Bank Group lowered its forecast for the global economy as slowing growth in trade and investment and interest rate hikes has curbed momentum. Global economy is set to grow at 2.9% this year, down from 3% in 2018, with a reduction of 0.1 percentage point from the World Bank’s forecast last June. Headwinds to the global economy have grown

  • Germany’s exports hit EUR 116.3bn in November

    January 9, 2019 8:41 AM 4

    Mubasher: Germany’s exports dipped 0.4% month-on-month to EUR 116.3 billion in November 2018, while imports fell 1.6% to EUR 95.7 billion as compared with October. German exports remained the same as compared with November 2017, according to a press release by the Federal Statistical Office (Destatis). The trade balance surplus of the Eurozone’s largest

  • Oil rises 1% on US-China trade talk development, OPEC cuts

    January 9, 2019 8:37 AM 3

    Mubasher: Oil prices climbed on Wednesday, extending gains seen in the prior session on prospects that the US and China may soon resolve their trade conflict. By 8:09 am GMT, US Nymex crude futures climbed 1.06% to $50.31 per barrel (pb), while global benchmark Brent futures rose 1.02% to $59.32 pb. Trade talks in Beijing entered a third day on Wednesday

  • Global air cargo demand flat in November

    January 8, 2019 4:07 PM 2

    Mubasher: Global air freight demand was flat in November 2018, compared with the same month in the previous year, according to data released by the International Air Transport Association (IATA). This marked the slowest growth rate seen since March 2016, after 31 months of annual growth, the IATA said. While “normally the fourth quarter is a peak season

  • Abu Dhabi begins operation of world’s largest solar plant

    January 8, 2019 3:35 PM 2

    Abu Dhabi – Mubasher: Abu Dhabi’s Department of Energy (DoE) on Tuesday announced that it has started the operation of the world's largest independent solar power plant “Noor Abu Dhabi”. The project’s total cost amounted to AED 3.2 billion, generating 1,177 megawatts, DoE, the entity responsible for strengthening the pioneering status and sustainability

  • Emirates airline tests new flight ticket payment system

    January 8, 2019 3:30 PM 2

    Mubasher: Emirates airline tested a new flight ticket payment method designed by the International Air Transport Association (IATA). The first “IATA Pay” ticket purchase transaction was completed successfully on Tuesday, in partnership with UK-based fintech company ipagoo and in participation with Cathay Pacific Airways, Scandinavian Airlines, and Emirates

  • Egypt seen among largest economies by 2030; China biggest by2020

    January 8, 2019 3:23 PM 3

    Mubasher: Standard Chartered forecast in a new report that Egypt would be among the world’s seven largest economies by 2030. The UK-based bank, which relied on long-term projections, also said it expected seven emerging markets (EM) to be among the world’s largest by 2030, according to Bloomberg. Other EMs to become among the world’s largest economies

  • US job openings fall in November

    January 8, 2019 3:18 PM

    Mubasher: The number of job openings announced by US businesses declined in the last business day of November 2018, official data showed on Tuesday. Job openings, a gauge for labour demand, dropped by 243,000 to 6.9 million in November, the Labor Department said in its monthly Job Openings and Labor Turnover Survey (JOLTS). The job opening rate was 4.4% in November