Commodity Prices

Brent Oil
78.84
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69.73
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1,198.70
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Platinum
814.22
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Silver
14.17
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Prayers

Dhuhr
12:16
Wednesday
19
September 2018

Fajr
Fajr
04:47
Sunrise
Sunrise
06:06
Dhuhr
Dhuhr
12:16
Asr
Asr
15:43
Maghrib
Maghrib
18:26
Isha
Isha
19:56
Markets

2,742.98 -0.33%
Volume
267,909,318
Turnover
-0.33%
Trades
3,232
11
Up
2
Flat
23
Down
Traded stocks 36
4,876.39 -0.13%
Volume
60,054,605
Turnover
-0.13%
Trades
1,416
8
Up
10
Flat
12
Down
Traded stocks 30
Most active
Julphar
2.15
Deyaar
0.45
KHCB
0.81
IHC
1.18
National Marine Dredging
2.85
Sharjah Cement & Industrial Development
0.93
Aramex
4.07
Gulf Navigation
0.86
Emaar
4.71
FAB
14.2
Drake & Scull
0.41
Deyaar
0.45
Drake & Scull
0.41
Deyaar
0.45
Salama
0.63
Aldar Properties
1.79

Mubasher


6 hour 29 minute

Oil extends gains, settle higher 1%

Mubasher: Oil prices increased by more than 1% on Tuesday, on the back of continuous fears of a market undersupply, as well as the trade war between the United States and China. Reports that OPEC may not be ready to make the up the shortage in output resulting from American sanctions on Iran rose concerns of a decline in supplies. Members of the Organization of the Petroleum Exporting Countries (OPEC) will meet on Sunday to discuss production policies. Nymex futures for October delivery jumped 1.4% to settle at $69.85 per barrel, while Brent crude added 1.26% and rose to the...
6 hour 31 minute

Dubai trade exchange up to AED 645bn in H1

Dubai - Mubasher: Dubai's non-oil foreign trade increased by AED 5 billion to AED 645 billion in the first half of 2018. Re-exports went up by 14% or AED 24 billion to AED 203 billion, while imports amounted to AED 377 billion, and exports totalled AED 65 billion. Free zones' foreign trade increased by 20% to AED 43 billion in H1-18 to AED 257 billion, as reported by Emirates News Agency (WAM). Dubai's airborne trade accounted for AED 302 billion while seaborne trade recorded AED 237 billion, with land transportation registering AED 106 billion worth of trade. China remained Dubai's...
6 hour 35 minute

Wall St records best gains in 3 weeks

Mubasher: The New York Stock Exchange (NYSE) saw a positive performance on Tuesday, recovering from earlier declines with rising fears regarding trade war between the United States and China. The Dow Jones Industrial Average rose by 0.71% or 185 points and closed at the level of 26,247, registering its best daily performance since 27 August. The S&P 500 index went up 0.54% and ended the second session of the week at 2,904 points. Meanwhile, the Nasdaq Composite Index added 0.76% to settle at 7,956 points. S&P 500 and Nasdaq recorded their best sessions since 29 August.

10 hour 10 minute

Trade war may last 20 yrs - Jack Ma

Mubasher: The founder of Alibaba Jack Ma said that the trade war between the United States and China could last for a very long time that may go as long as 20 years. "It's going to last long, it's going to be a mess," Ma was quoted as saying on Tuesday. Concerns over a trade war between the world’s two biggest economies are affecting global markets, especially after Trump announced imposing new 10% tariffs of $200 billion worth of Chinese imports. Ma warned that business in both the Chinese and American markets will be affected by trade tensions, despite his...
13 hour 16 minute

Trade war may last 20 yrs - Ma

Mubasher: The founder of Alibaba Jack Ma said that the trade war between the United States and China could last for a very long time that may go as long as 20 years. "It's going to last long, it's going to be a mess," Ma was quoted as saying on Tuesday. Concerns over a trade war between the world’s two biggest economies are affecting global markets, especially after Trump announced imposing new 10% tariffs of $200 billion worth of Chinese imports. Ma warned that business in both the Chinese and American markets will be affected by trade tensions, despite his...
14 hour 9 minute

India's Ola to expand in New Zealand

Mubasher: Ola Cabs has announced plans to expand into New Zealand, in the cities of Auckland, Christchurch, and Wellington. Considered the main competitor to Uber in India, Ola is seeking to launch its services in several new markets, after entering Australian and British markets in February and August, respectively. The company raised $50 million, increasing its valuation to $4.3 billion, CNBC reports. Last year, Ola introduced an online food delivery service Foodpanda, further increasing the competition with Uber's food delivery service UberEats. Ola has around 125 million users around the globe, as per company numbers.

14 hour 11 minute

US shale gas facing disruptions - EIA

Mubasher: A lack of investment projects in the United States shale gas sector could be economically disruptive, said the International Energy Agency (IEA) in a recent report. Although the production side is performing strongly at record levels, thanks to shale production and fracking, the sectors is still faced with future uncertainties, CNBC reported. Trade war with China could also affect the sector and infrastructure projects. However, the IEA expects that if trade tensions were to be surpassed, an excess in American gas production will help meet China's demand.
14 hour 15 minute

Egypt a top priority for Al Baraka Banking Group's expansions - CEO Interview

By: Bedour Al Raee Dubai - Mubasher: Al Baraka Banking Group is planning to open the first digital Islamic bank in Berlin, which will be affiliated to Al Baraka Bank Turkey, the group’s CEO Adnan Ahmed Yusuf told Mubasher in an interview. North African expansions The Bahraini group is also planning to enter new markets including Indonesia, East Asia, Kenya, Tanzania, and Uganda, he added. The Egyptian market is a top priority to the group’s expansion strategy, Yusuf revealed, indicating that Al Baraka was planning to expand it footprint by increasing the number of its branches in the North African...
14 hour 17 minute

Ithmaar Bank to launch 1st biometric payment network

Mubasher: Ithmaar Bank and Eazy Financial Services intend to launch the region’s first biometric payment network, backed by the Labour Fund “Tamkeen”, providing a new and more efficient alternative for customers to execute several financial transactions, according to a recent statement. Upon the joint agreement, customers of Ithmaar Bank, which is listed on Boursa Kuwait, Bahrain Bank (BHB), and the Dubai Financial Market (DFM), will no longer be required to use their bank cards at ATMs. Along with their PIN, Ithmaar Bank’s customers will simply use their fingerprint to conduct financial transactions. Ithmaar Bank noted that this step provides a...

14 hour 21 minute

Global car sector outlook to remain stable in 2019 –Moody’s

Mubasher: Moody’s Investors Service on Tuesday said the outlook for the intentional automotive sector would be stable for the next 12 to 18 months. This outlook reflects forecasts for steady demand in the sector over the main regions globally, despite various challenges, Moody’s report, titled “Automotive manufacturing -- Global, Modest growth in light vehicle sales to continue into 2019 amid threats of US tariffs” said. "While global auto sales so far this year support our full-year 2018 forecast, we see greater risks emerging that could hurt sales next year, including trade and tariff disputes, rising interest rates and higher fuel...

Award-winning architect uncovers $190,500 Dubai Clock design

Dubai – Mubasher: Architect and clock designer Amjad Al Haj unveiled the design for the Dubai Clock, which is estimated at AED 700,000 ($190,571) at the Hotel Show. The award-winning architect described the clock as “symbol and a reminder of the city of Dubai,” according to a statement. Al Haj further noted that the three-metre high clock was made for luxury hotels, to complement their interiors and give them a unique feel. “While designing the beautiful masterpiece, the only things I imaged was how it would enhance the look and feel of any luxury hotel,” the architect said. Made of...
16 hour 2 minute

Coca-Cola considers producing beverages contain marijuana-derived substance

Mubasher: The Coca-Cola Company is reportedly planning to produce beverages containing a component of the marijuana plant called CBD and has anti-inflammatory, analgesic, anti-nausea, and anti-seizure effects. It seems that the US-based nonalcoholic beverage producer may be looking to give itself a boost, but such a decision may be a long way, as the substance in question is illegalised by the US Drug Enforcement Administration (DEA). However, Coca-Cola denied such reports, noting that it has not reached any decision on the matter. "We have no interest in marijuana or cannabis. Along with many others in the beverage industry, we are...