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  • Egypt’s food exports hit $1.4bn in H1; Saudi in the lead

    August 7, 2018 10:18 AM 6

    Cairo – Mubasher: Egypt’s food exports amounted to around $1.44 billion in the first half of 2018. Arab countries made up the largest portion of the exports, accounting for 52% of total Egyptian food exports, valued at $753 million, the Egyptian Food Export Council said in a statement on Tuesday. Meanwhile, food exports to the European Union (EU) made up 15% of total

  • German industrial output declines in June, rises yr-on-yr

    August 7, 2018 10:08 AM 6

    Mubasher: Germany’s industrial sector saw a decline in its production during June, driven by a steep drop in construction activity, data released on Tuesday revealed, indicating that a weaker conclusion of the second quarter of 2018. Overall industrial production, including output from manufacturers, energy and construction sectors, fell 0.9% month-on-month

  • UK house prices rise 1.4% July, 3.3% yr-on-yr

    August 7, 2018 9:25 AM 3

    Mubasher: House prices in the UK rose in July month-on-month, with a quarterly increase and rising annual rates, but the housing activity remained soft, despite improvement in mortgage approvals, data released on Tuesday said. House prices increased 1.4% in July from June, the house price index data produced by Halifax UK said. The UK housing segment

  • Canada concerned over tension with Saudi Arabia

    August 6, 2018 3:52 PM 6

    Mubasher: Canada is "seriously concerned" over the recent tension in the relations with Saudi Arabia, a foreign ministry spokeswoman stated on Monday. "We are seeking greater clarity on the recent statement from the Kingdom of Saudi Arabia," Marie-Pier Baril said. On Sunday, the Saudi Ministry of Foreign Affairs recalled its ambassador in Canada Naif bin Bandir

  • Japan Tobacco to acquire Bangladeshi cigarette maker for $1.5bn

    August 6, 2018 3:01 PM 5

    Mubasher: Japan Tobacco on Monday announced that it agreed to purchase a tobacco subsidiary of Akij Group for 124.3 billion Bangladesh takas (BDT) ($1.48 billion). Taking its acquisition strategy to one of the fastest growing economies in Asia, the Japanese company, which would acquire the second largest Bangladeshi cigarette company, with a nearly 20% market

  • Iraq to raise output to 7.5M bpd by 2024

    August 6, 2018 12:28 PM 2

    Mubasher: Iraqi Oil Minister Jabar al-Luaibi on Monday said that the country would ramp up crude production to more than 7.5 million barrels per day (bpd) by 2023 and 2024, noting that oil prices would approach a stable level. The raise would include 6 million bpd for crude exports and 1.5 million bpd for local consumption, Al Sabah state newspaper reported

  • Bulldozer Group to open 9 restaurants in GCC

    August 6, 2018 8:28 AM 2

    Dubai – Mubasher: Bulldozer Group is planning to inaugurate nine restaurants in the GCC including Saudi Arabia and the UAE in 2018 and 2019. The Dubai-based hospitality group is set to open new dining concepts within the next couple of months, the group’s founder and managing partner Evgeny Kuzin told Arabian business. "We have more global plans for Hong Kong, London

  • India’s Jewellery group expands in Oman, Saudi Arabia

    August 5, 2018 3:34 PM 2

    Mubasher: Indian Jewellery group Joyalukkas has opened new showrooms in Oman and Saudi Arabia. The jeweller inaugurated two new showrooms in the Ruwi district in the Omani capital, Muscat. Both of the new showrooms comprises over a million Jewellery designs featuring an exclusive line of Joyalukkas brands, including Veda Temple Jewellery, Pride Diamonds

  • Visitors to Qatar drop 35% in H1 on Arab rift – Ministry

    August 5, 2018 1:34 PM 2

    Mubasher: The number of visitors to Qatar tumbled 35% year-on-year in the first half of 2018 due to a large drop in those coming from nieghbouring GCC countries after the diplomatic rift that took place in June 2017, data released by Qatar's Ministry of Development Planning and Statistics (MDPS) showed. Visitors reached 944,600 during H1-18, down from 1.46 million

  • Bahrain Kuwait Insurance mulls merger with Takaful International

    August 5, 2018 12:32 PM 2

    Mubasher: Bahrain Kuwait Insurance is currently considering merging its branches and some supportive services with Takaful International, the chairman of Bahrain Kuwait Insurance Murad Ali Mohamed Murad said, according to Al Ayam Newspaper. Bahrain Kuwait Insurance, which is listed on both Bahrain Bourse (BHB) and Boursa Kuwait, has acquired 77.25% in Takaful