Category: Market

The overall Industrial Production Index (IPI) in Palestine increased by 13.95% in May compared to April, today said the Palestinian Central Bureau of Statistics (PCBS). The increase in the IPI for May was due to the increase in the activities of the manufacturing industry by 15.64%, which had a share of 87.89% of the total industry, the activities of mining and quarrying by 14.08%, which had a share of 2.89% of the total industry, and the activities of water supply, sewerage, waste management, and remediation by 10.19%, which had a share of 1.84% of the total industry. While, the activities of electricity, gas, steam, and air conditioning supply decreased by 0.83%, which had a share of 7.38% of the total industry.

Source: En – Palestine news & Information Agency – WAFA

The Minister of Industry and Trade, Muhammad Sharaf al-Mutahhar, issued decisions regarding a boycott of Swedish goods and companies; In response to the directives of the revolution leader, Sayyed Abdulmalik Badr al-Din al-Houthi; and in defense of the Holy Qur’an.

The decisions stipulated that all goods of Swedish origin, whether imported directly from Sweden or imported through other countries, be brought to the Republic of Yemen.

They also stipulated the cancellation of the agencies registered with the Ministry for goods, products and services of Swedish origin, as well as the cancellation and cancellation of the registration of branches of foreign companies and homes operating in the name or for the account of a Swedish foreign company or house.

The Industry Minister decisions also stipulated the cancellation and deletion of marks registered in the names of Swedish establishments or companies or any mark placed on goods, products, and services of Swedish origin, and the prohibition of receiving any requests or transactions related to any agency or trademark related to goods, products and services of Swedish origin.

Minister Al-Mutahhar affirmed that the Ministry of Industry and Trade attaches great importance to the process of boycotting the goods of countries that offend Islam and Muslims, proceeding from its religious, national and moral responsibilities, within the framework of the necessary action to respond to Western terrorism that attacks the divine message of Islam.

Source: Yemen News Agency

Qatar Stock Exchange (QSE) general index rose by 73.14 points (0.72 percent), to close at 10, 254.22 points, on Tuesday.

A total of 187,961,004 shares were traded, with a value of QR 467,466,574.175 from 17132 transactions in all sectors.

Of the listed companies, shares of 31 companies rose, while the prices of 10 other companies decreased and four companies remained unchanged.

The market capitalization, at the end of the trading session, was QR 606,864,913,391.820 compared to QR 602,311,341,942.020, in the previous closing.

Source: Qatar News Agency

Kuwait Petroleum Corporation (KPC) announced on Monday its liquefied natural gas (LNG) prices, namely propane and butane, for July.

In a press release sent to KUNA, the KPC added that a propane metric ton would be sold for USD 400 during July, and a butane metric ton for USD 375.

Both liquefied natural gases, propane and butane, are used in petrochemical industry, cooking and heating purposes, it added.

LNG prices are mainly affected by the increase and decrease of global oil prices, market supply and demand and other factors.

Source: Kuwait News Agency

US Secretary of the Treasury Janet L. Yellen will travel to Beijing from July 6-9 for meetings with senior Chinese officials.

Secretary Yellen’s travel follows President Joe Biden’s directive after his meeting with President Xi last November to deepen communication between the U.S. and China on a range of issues, including on the global macroeconomy and financial developments, US Department of Treasury said in a statement.

“While in Beijing, Secretary Yellen will discuss with PRC officials the importance for our countries – as the world’s two largest economies – to responsibly manage our relationship, communicate directly about areas of concern, and work together to address global challenges,” it said.

In an April speech, Secretary Yellen laid out three principles guiding America’s economic relationship with the PRC. “The United States proceeds with confidence in our long-term economic strength thanks to our historically strong recovery and the investments the Biden Administration is making in America’s productive capacity,” it added.

“First, we seek to secure our national security interests along with those of our allies and to protect human rights through targeted actions that are not intended to gain economic advantage,” it noted.

“Second, we seek a healthy economic relationship with China that fosters mutually beneficial growth and innovation and expands economic opportunity for American workers and businesses,” according to the statement.

“Finally, we also seek to cooperate on urgent global challenges like climate change and debt distress,” it said.

Source: Kuwait News Agency

The Basra University of Oil and Gas signed a letter of intent with the University of Petroleum and Gas in Ploiest in Romania, to activate academic cooperation and exchange of scientific expertise between them.

The university’s media stated that “the signing took place in the presence of the President of the Basra University of Oil and Gas, Dr. Muhammad Halil Hafez Al-Kaabi, the President of the Romanian University of Ploiest (Assoc. Prof. Dr. Eng. Alin Dinita), the Advisor to the Ministry of Higher Education and Scientific Research, Dr. Ali Hamid Kadhim Al-Shukri, and the Regional Cultural Attache in Bucharest, Dr. Shaker Kadhim Al-Ali.

It added: “The two sides agreed to activate joint cooperation to develop scientific activity and participate in activities, and it was also agreed to activate academic cooperation through the exploitation of advanced scientific laboratories, training of teachers and students, mutual visits of teachers and researchers, exchange of scientific and research information, development of curricula, exchange of scientific advice, and activation of exchange activities of students for the purpose of joint training and research.”

The media office continued, “During the delegation’s visit to Romania, they were briefed on the companies cooperating with the University of Petroleum and Gas in Ploiest and sponsoring its students in various fields for the purpose of localizing technology, training students, and preparing graduates with high experience in various specializations of technology for the oil industry.”

Source: National Iraqi News Agency

Qatar Stock Exchange (QSE) started its Sunday trading after the Eid holidays with a gain of 88.94 points, representing a 0.88% surge to reach the level of 10163 points compared to Monday’s closing.

QSE figures showed positive performance for the transportation sector by 2.54%, the insurance sector by 1.47%, the bank and financial services sector by 1.01%, the real estate sector by 0.85%, the industrial sector by 0.64%, the telecommunications sector by 0.20%. However, the consumer services sector experienced a negative performance of 0.42%.

At 10:00 AM, QSE recorded trading with a value of QR 78.845 million. This trading volume was distributed among 44.874 million shares, executed through 2.590 transactions.

Source: Qatar News Agency

Qatar Stock Exchange (QSE) index on Sunday gained 128.94 points (1.28 percent) to close at 10,203.54 points.

A total of 207,292,933 shares were traded, with a value of QR 365,730,654.356 from 11,202 transactions in all sectors.

Shares of 39 companies closed higher, while the prices of another five dropped and sic maintained their previous closing price.

The market capitalization, at the end of the trading session, was QR 602,440,622,881.680 compared to QR 592,234,356,721.080, in the previous session.

Source: Qatar News Agency

Prices of 21-karat gold, the highest demand at local market, stood at JD39.30 per gramme, as purchasing price, against JD37.60 as selling price, an official said Saturday. Jordan Jewelers Association’s Secretary General, Ribhy Allan, told Jordan News Agency (Petra) that the price of 24-karat and 18-karat gold amounted to JD46.30 and JD34.90 respectively. The price of a Rashadi lira, weighing seven grammes, stood at JD277, while an English lira, which weighs eight grammes reached JD315, Allan said. In the past two weeks, the local market saw an increase in the gold supply due to the rise in prices in order to collect profits, Allan added. He explained that the demand for gold in the local market has slightly improved before the holy Eid Al-Adha holiday, and is expected to increase during the coming days with the start of traditional social events in the summer season, and the return of expatriates. He added that gold prices in global markets on Friday reached $1,920 per ounce.

Source: Jordan News Agency

The Kuwaiti crude oil price rose USD 2.09 during Friday’s trading sessions to reach USD 77.82 per barrel, compared with USD 75.73 pb last Wednesday, Kuwait Petroleum Corporation (KPC) said on Saturday.

In international markets, Brent crude futures went down by 12 cents to USD 74.22 pb and West Texas Intermediate (WTA) crude moved down by 21 cents to USD 69.65 pb.

Source: Kuwait News Agency

Egyptian Ministry of Petroleum and Mineral Resources announced on Saturday launching new refining and petrochemical projects with investments at USD nine billion.

In a statement, the Ministry said the they are working on launching new refining projects valued at USD 7.5 billion, including the expansion of Midor refinery in Alexandria, which has completed its first and second phases and started experimentally operating, as well as the diesel production complex project at Assiut’s ANOPC.

It also added other projects including the Suez Petroleum Processing Company’s coking complex and diesel production, the condensate distillation project at Nasr Petroleum Company in Suez, and the air distillation project at Assiut’s oil refiner.

The ministry succeeded in operating eight new projects in fields of oil refining, with investments of USD 5 billion, as part of a strategy launched in 2016 to develop the petroleum refining industry and increase its production capacities to reduce imports.

The strategy’s success led to doubling the domestic production of petrochemical materials to more than 4.3 million tons annually by the end of 2021/2022, compared to 2.1 million tons in 2015/2016, following the expansions that were added in 2016 and 2017 with a total investment of about USD 4 billion.

Source: Kuwait News Agency

The Ministry of Oil announced the total exports and revenues achieved for the month of June, according to preliminary statistics issued by the Iraqi Oil Marketing Company “SOMO”.

It said in a statement that the total amount of exports of crude oil amounted to (100) million (59) thousand and (52) barrels, with revenues amounting to (7.115) billion dollars.

It explained that the total quantities of crude oil exported for the month of June from the oil fields in central and southern Iraq amounted to (98) million (725) thousand and (620) barrels, while the quantities exported to Jordan amounted to (299) thousand and (445) barrels. While the exports from Qayyarah were one million (33) thousand and (987) barrels, while the average daily quantities exported amounted to (3) million and (335) thousand barrels per day, and the average price per barrel was (71.11) dollars.

Source: National Iraqi News Agency