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  • GCC's US Treasury holdings fall 1.3% in December

    February 18, 2018 8:36 AM 11

    Mubasher: The GCC countries’ holdings of the US Treasuries declined 1.3% to $254.4 billion in December 2017, compared to $257.65 billion a month earlier, according to US Department of the Treasury (USDT). Treasury holdings of Saud Arabia, which ranked first among the GCC economies, dropped 1.9% to $147.4 billion in the last month of 2017 versus $149.03 billion

  • Former Yahoo CEO may be fined $10m for profanity

    February 15, 2018 4:01 PM 10

    Mubasher: Former Yahoo CEO Carol Bartz on Thursday slammed her former employer, using crude terms when talking about the termination of her contract at the internet services company in 2011. Bartz’s inappropriate comments may result in a $10-million fine as she is said to have violated the disparagement clause in her contract, according to media reports

  • European car sales grow 7% in January

    February 15, 2018 11:17 AM 10

    Mubasher: Europe’s vehicle sales expanded significantly in January, driven by strong demand in Germany and Spain. Sales rose by 7.1% to around 1.25 million cars in the European Union (EU) during the first month of 2018, compared with 1.17 million cars in the same month the year before, data by the European Automobile Manufacturers Association (ACEA)

  • European goods trade surplus widens in December

    February 15, 2018 10:31 AM 10

    Mubasher: The Eurozone’s balance of trade surplus expanded in December, beating analysts’ forecasts. Surplus reached EUR 23.8 billion ($29.71 billion) in December, up from a surplus of EUR 22 billion in the previous month, seasonally adjusted data by the Eurostat showed on Thursday. Economists had expected a slighter increase to EUR 22.4 billion during

  • China banks on holiday Thursday

    February 15, 2018 10:02 AM 10

    Mubasher: Chinese banks and the stock exchange are closed on Thursday, celebrating China’s Lunar New Year holiday. China’s Lunar New Year holiday, which is the equivalent of the Thanksgiving Holiday, Christmas, and Independence Day combined, is considered one of the most important holidays in Asia, with countries like Singapore, Malaysia, South Korea

  • Saudi oil minister confident of cooperation with OPEC

    February 14, 2018 12:51 PM 10

    Riyadh – Mubasher: Saudi Arabia's oil minister Khalid Al Falih has expressed his confidence regarding the ongoing cooperation between OPEC and its non-OPEC allies to stabilise the market, according to Reuters. The conference was attended by the Russian energy minister, Alexander Novak, as well as the OPEC secretary general, Mohammad Barkindo. The conference

  • GFH proposes 8.7% dividends for FY17

    February 14, 2018 10:55 AM 8

    Mubasher: GFH Financial Group has recommended a cash dividend of 8.7% or 2.31 cents per share for fiscal year 2017, according to a bourse statement on Wednesday. The Islamic wholesale investment bank, listed on Boursa Kuwait, Bahrain Bourse (BHB), and the Dubai Financial Market (DFM), said that the proposed cash dividends will total $85 million. It is noteworthy

  • GFH profits plunge 52% in FY17

    February 14, 2018 9:48 AM 9

    Mubasher: GFH Financial Group announced a drop of 52% in profits during fiscal year 2017 compared to the previous year. Net earnings attributed to shareholders shrank to $104.18 million in FY17 from $217.12 million in FY16, according to a bourse filing on Wednesday. GFH, which is listed on Boursa Kuwait, Bahrain Bourse (BHB), and the Dubai Financial

  • Kuwait’s crude oil drops 53 cents on Tuesday – KPC

    February 14, 2018 7:08 AM 9

    Mubasher: The price of Kuwait’s crude oil decreased by 53 cents to settle at $59.11 per barrel (pb) on Tuesday compared to $59.64 pb on Monday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices decreased by settling Tuesday in line with the investors’ anticipation for the global demand and the U.S. crude

  • Sky inks new cheaper Premier League deal

    February 13, 2018 9:13 PM 10

    Mubasher: Sky will pay GBP 3.58 billion to broadcast the Premier League matches for three seasons from 2019/2020, as reported by Reuters on Tuesday. The network will air 128 matched after reaching a new deal with the Football league with a total value of GBP 4.46 billion, which is below the record seen in 2015 at GBP 5.14 billion, leading to a 16% decrease