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  • Turkey resumes Iranian crude imports after 1M hiatus – Report

    January 8, 2019 2:56 PM 3

    Mubasher: Turkey has continued its crude imports from Iran after a one-month break in November 2018 when the US sanctions were reinstated, a news report said. Turkey received delivery of two tankers carrying around 54,000 barrels per day (bpd) of Iranian oil during last December, a shipping and trading source told Thomson Reuters. The Solan carrier delivered

  • Qatar Airways eyes boosting overseas hotel portfolio to 50

    January 8, 2019 2:09 PM 3

    Mubasher: Qatar Airways is planning to expand its overseas hotel portfolio to 50 properties over the coming years, the CEO of Qatar’s flagship airline Akbar Al Baker said. The state-owned Gulf carrier has already several hotels including Sheraton Melbourne, Novotel Edinburgh Park, Sheraton Skyline Hotel at London’s Heathrow Airport, Oryx Rotana Hotel

  • BMW, Mini, Rolls-Royce sell 2.49m units in 2018

    January 8, 2019 1:30 PM 1

    Mubasher: German auto giant BMW on Tuesday said sales of its namesake brand, Mini and Rolls-Royce hit a record of 2.49 million vehicles last year. Sales of 2.49 million vehicles “mean the BMW Group is the world’s leading premium automotive company for the 15th year running,” the car manufacturer’s CEO Harald Krueger said. It remained unclear whether

  • US small business owner morale hits 14M low in December

    January 8, 2019 1:02 PM 1

    Mubasher: Positive sentiment among US small businesses saw a decline in December, recording the lowest level in 14 months, according to the National Federation of Independent Business (NFIB) survey. Small business optimism index was 104.4 in December, shedding 0.4 points, the NFIB said on Tuesday. “Optimism among small business owners continues to push record

  • German industrial output unexpectedly plunges in November

    January 8, 2019 9:49 AM 1

    Mubasher: German industry saw an unexpected drop in November 2018, in another indication that a nine-year recovery in Europe’s largest economy is falling. Overall industrial production, including output from manufacturers, energy and construction sectors, fell 1.9% month-on-month last November, the Federal Statistical Office (Destatis) said on Tuesday

  • UK house prices surge in December

    January 8, 2019 9:19 AM

    Mubasher: House prices in the UK rose in December 2018, with a slight quarterly decline and an annual rise, according to data released on Tuesday. House prices climbed 2.2% last December after falling 1.3% in the previous, the house price index data produced by Halifax UK said. Prices in the UK housing segment inched down 0.4% between October and December

  • Oil steadies on US-Sino trade talk hopes, OPEC cuts

    January 8, 2019 7:52 AM

    Mubasher: Oil prices were steady on Tuesday, driven by prospects that talks in Beijing between the US and Chinese officials could resolve a trade dispute between both countries. Moreover, output cuts announced by a group of producer led by the Organization of Petroleum Exporting Countries (OPEC) late last year tightened crude markets. By 7:34 am GMT, US Nymex

  • African Union to unveil single African passport in February

    January 8, 2019 7:17 AM

    Mubasher: The African Union (AU) has announced plans to issue an African passport to promote trade and free movement of people within the continent. Further details on the design, production, and issuance of the new African passport will be unveiled at the 32nd Summit of the AU in February, chairperson of the African Union Moussa Faki Mahamat said in a statement

  • US service sector growth hits 5M trough in December

    January 7, 2019 3:29 PM

    Mubasher: The US service sector growth lost momentum in December, at the slowest pace in five months a private report showed on Monday. The non-manufacturing index (NMI) declined to 57.6% last December from 60.7% in November, the Institute for Supply Management (ISM) said. The latest reading was the lowest since the index came in at 55.7% in July. The employment

  • Germany asks US help after private data hacking- Report

    January 7, 2019 2:42 PM

    Mubasher: Germany sought assistance from the US National Security Agency (NSA) after finding out that hackers released private data linked to Chancellor Angela Merkel and other German politicians, a news report said. German investigators asked the NSA to exert pressure on Twitter to close profiles with links to the hacked data, Bild newspaper reported