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#Saudi bourse sees biggest weekly loss in over a year | Reuters

Saudi bourse sees biggest weekly loss in over a year | Reuters Saudi Arabia's stock market gave up early gains to end lower on Thursday, registering its fourth weekly loss in five and its biggest since October 2020, while other Gulf bourses traded mixed.Losses on the Saudi index followed tensions with Yemen's Iran-aligned Houthis, who claimed responsibility on Nov. 20 for drone attacks in several parts of the kingdom, including at Saudi Aramco facilities in Jeddah. read moreOn Wednesday th...
Tags: Travel, Turkey, Iran, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Yemen, Mohammed, Jeddah, Gulf, Ankara, Reuters, Saudi Aramco, Tayyip Erdogan, Sanaa


Major Gulf bourses rise in early trade | Reuters

Major Gulf bourses rise in early trade | ReutersMajor stock markets in the Gulf rose in early trade on Thursday, with the Saudi index on track to extend gains for a second session.Saudi Arabia's benchmark index (.TASI) advanced 0.7%, with Al Rajhi Bank (1120.SE) rising 1.6% and oil giant Saudi Aramco (2222.SE) up 0.6%.The index on Tuesday ended three sessions of declines triggered by tensions with Yemen's Iran-aligned Houthis, who claimed responsibility on Nov. 20 for drone attacks in several pa...
Tags: Travel, Saudi Arabia, Turkey, Iran, United Arab Emirates, Abu Dhabi, Yemen, Mohammed, Jeddah, Ankara, Reuters, Saudi Aramco, Tayyip Erdogan, Sanaa, Tasi, Rupert Neil Bumfrey


#Saudi bourse outperforms most Gulf markets | Reuters

Saudi bourse outperforms most Gulf markets | Reuters Saudi Arabia's stock market ended higher on Wednesday, buoyed by gains in financial shares, while the Dubai index snapped three sessions of losses.Saudi Arabia's benchmark index (.TASI) advanced 1%, extending gains from the previous day, boosted by a 2.9% rise in Al Rajhi Bank (1120.SE) and a 4.7% leap in SABIC Agri-Nutrients (2020.SE).On Tuesday, the index ended three sessions of declines triggered by tensions with Yemen's Iran-aligned ...
Tags: Travel, Saudi Arabia, Iran, Egypt, Dubai, Abu Dhabi, Yemen, Jeddah, Gulf, Reuters, Saudi Aramco, Adi, Sanaa, SABIC, Tasi, Rupert Neil Bumfrey


#Saudi index leads major Gulf bourses higher in early trade | Reuters

Major stock markets in the Gulf rose in early trading on Wednesday with the Saudi index leading the gains on the back of its financial shares.Saudi Arabia's benchmark index (.TASI) was up 0.9%, on track to extend gains from the previous session.On Tuesday, the index snapped three sessions of declines triggered by tensions with Yemen's Iran-aligned Houthis, who claimed responsibility for drone attacks in several parts of the kingdom, including at Saudi Aramco facilities in Jeddah. read moreAl Raj...
Tags: Travel, Saudi Arabia, Russia, Opec, Qatar, Iran, Abu Dhabi, Yemen, Jeddah, Gulf, Reuters, Saudi Aramco, Sanaa, Petroleum Exporting Countries OPEC, Tasi, Rupert Neil Bumfrey


Saudi stocks bounce back, major Gulf markets end mixed | Reuters

Saudi stocks bounce back, major Gulf markets end mixed | Reuters Saudi Arabian shares closed higher on Tuesday, snapping three straight sessions of losses, while major Gulf stock markets ended the day mixed.Saudi Arabia's benchmark index (.TARSI) closed about 0.8% higher after three days of declines triggered by regional tensions with Yemen's Iran-aligned Houthis, who claimed responsibility for drone attacks in several parts of the kingdom, including at Saudi Aramco facilities in Jeddah. r...
Tags: Travel, Saudi Arabia, Iran, Dubai, Abu Dhabi, Yemen, Jeddah, Gulf, Reuters, Saudi Aramco, Etisalat, Rupert Neil Bumfrey, Dubai Islamic Bank, Emaar Malls, Al Rajhi Bank, Reuters Saudi Arabian


#Saudi bourse suffers biggest fall in over a year after drone attacks | Reuters

Saudi bourse suffers biggest fall in over a year after drone attacks | Reuters Saudi Arabia's stock market had its biggest intraday fall in over a year on Monday as it extended losses from the previous session following drone attacks.The Saudi-led coalition fighting the Houthi movement in Yemen said its air defences destroyed a drone targeting Najran airport in the south of Saudi Arabia, state media reported on Sunday. read moreYemen's Iranian-aligned Houthi movement said on Saturday it had f...
Tags: Travel, Europe, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Yemen, Jeddah, Gulf, Houthi, Reliance, Reuters, Aramco, Saudi Aramco, Reuters Saudi Arabia, Tasi


#Saudi bourse on course to extend losses after drone attacks | Reuters

Saudi bourse on course to extend losses after drone attacks | ReutersMost major stock markets in the Gulf fell in early trade on Monday, with the Saudi index leading the losses a day after its biggest one-day fall in over a year following drone attacks.Yemen's Iranian-aligned Houthi movement said on Saturday it had fired 14 drones at several Saudi Arabian cities, including at Saudi Aramco facilities in Jeddah. read moreSaudi Arabia's benchmark index (.TASI) dropped 1.3%, dragged down by a 1.4% f...
Tags: Travel, Europe, Japan, Dubai, Yemen, Jeddah, Houthi, Reliance, Reuters, Aramco, Saudi Aramco, Tasi, Rupert Neil Bumfrey, Al Rajhi Bank, First Abu Dhabi Bank, Emaar Properties EMAR DU


#Saudi stocks sees biggest fall in over a year after drone attacks | Reuters

Saudi stocks sees biggest fall in over a year after drone attacks | Reuters Saudi Arabia's stock market posted its biggest one-day drop in more than a year on Sunday, a day after Yemen's Iran-aligned Houthis said they had fired 14 drones at several Saudi Arabian cities, including at Saudi Aramco facilities in Jeddah. read moreThe Saudi-led coalition battling the Houthis in Yemen had on Friday said it destroyed three drones launched towards southern Saudi Arabia and a fourth over Yemen. It ...
Tags: Travel, Saudi Arabia, Iran, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Yemen, Jeddah, Reliance, Reuters, Aramco, Saudi Aramco, Adi, Reuters Saudi Arabia, Houthis


#Saudi market tumbles in early trade after drone attacks | Reuters

Saudi market tumbles in early trade after drone attacks | ReutersSaudi Arabia's stock market fell sharply in early trade on Sunday, a day after Yemen's Iran-aligned Houthis said they had fired 14 drones at several Saudi Arabian cities, including at Saudi Aramco facilities in Jeddah. read moreSaudi Arabia's benchmark index (.TASI) dropped 1.6%, with Al Rajhi Bank (1120.SE) retreating 2.2% and Saudi Aramco (2222.SE) losing 1.6%.The oil giant was also under pressure after India's Reliance Industrie...
Tags: Travel, Qatar, Iran, Dubai, Abu Dhabi, Yemen, Jeddah, Reliance, Reuters, Aramco, Saudi Aramco, Houthis, Commercial Bank, Tasi, Rupert Neil Bumfrey, QSI


Rivian (RIVN) IPO Delivers Near $9 Billion Fortune for #Saudi Investor - Bloomberg

Rivian (RIVN) IPO Delivers Near $9 Billion Fortune for Saudi Investor - Bloomberg A Saudi family that built its business on gasoline-fueled cars is sitting on an almost $8.9 billion fortune after electric truck maker Rivian Automative Inc.’s initial public offering.Abdul Latif Jameel, a Jeddah-based group named after its founder and today run by his sons, holds almost 114 million shares in Rivian acquired through $303 million of loans made to the U.S. company, according to the sale prospec...
Tags: Travel, New York, Bloomberg, Jeddah, Ford Motor Co, Toyota Motor Corp, Irvine California, McKinsey Co, Amazon com Inc, Rupert Neil Bumfrey, Abdul Latif Jameel, Rivian, Rivian Automative Inc


#Saudi Home Prices Jump to Fastest in 5 Years Amid Ownership Boom - Bloomberg

Saudi Home Prices Jump to Fastest in 5 Years Amid Ownership Boom - Bloomberg Apartment prices in Saudi Arabia increased at the fastest pace in five years, spurred by a government plan to boost home ownership by building affordable housing and offering cheap loans. In the capital, Riyadh, and the Red Sea port city of Jeddah, apartment values increased 17% and 12% respectively over the past 12 months, according to data by global property consultant Knight Frank. “Home ownership has actually beco...
Tags: Travel, Saudi Arabia, Bloomberg, Middle East, Jeddah, Riyadh, Mohammed bin Salman, Red Sea, Knight Frank, Rupert Neil Bumfrey, Durrani, Faisal Durrani


Islamic Development Bank gets $1.7 billion via sukuk | Reuters

Islamic Development Bank gets $1.7 billion via sukuk | Reuters The Jeddah-based Islamic Development Bank on Wednesday sold $1.7 billion in five-year Islamic bonds at 25 basis points over mid-swaps, a bank document showed.The multilateral development bank was expected to raise $1.5 billion through the sukuk sale, another document also from one of the banks on the deal showed earlier.The spread was tightened from initial guidance on Tuesday of around 30 bps over mid-swaps after the sukuk drew mo...
Tags: Travel, Jeddah, Reuters, Islamic Development Bank, Islamic Corporation, Rupert Neil Bumfrey, HSBC HSBA, Standard Chartered STAN L, Credit Agricole CAGR PA First Abu Dhabi Bank, KFH Capital KFH KW Natixis SMBC Nikko 8316 T


MIDEAST STOCKS Saudi Telecom aids #Saudi bourse; blue-chip selloff dents Egypt | Reuters

MIDEAST STOCKS Saudi Telecom aids Saudi bourse; blue-chip selloff dents Egypt | Reuters Major stock markets in the Gulf were mixed on Sunday, with the Saudi index extending gains from the previous session, while Egyptian stocks retreated due to a broad selloff in blue-chip shares.Saudi Arabia's benchmark index (.TASI) edged up 0.1%, helped by a 1.7% rise in Saudi Telecom Company (STC) (7010.SE) after its unit Arabian Internet and Communications Services Co set an indicative price range for...
Tags: Travel, Budget, Saudi Arabia, Iran, Egypt, Pakistan, United Arab Emirates, Abu Dhabi, Yemen, Jeddah, Gulf, Reuters, Aramco, Red Sea, ACWA Power, Reuters Major


STR: Preliminary July Data For Jeddah Hotels

Jeddah’s hotel industry reported slightly lower performance levels compared with the month prior, according to preliminary July 2021 data from STR.
Tags: Travel, Jeddah, Preliminary July Data For Jeddah Hotels


Riyadh Tops #SaudiArabia’s Residential Market Boom: Knight Frank - Bloomberg

Riyadh Tops Saudi Arabia’s Residential Market Boom: Knight Frank - Bloomberg Saudi Arabia’s residential market continued on a path of sustained growth in the second quarter, with apartment values in the capital Riyadh accelerating at the fastest pace in at least 2017, according to Knight Frank.The government’s various initiatives are contributing to an “acceleration in home ownership rates across the kingdom,” Faisal Durrani, head of Middle East research at Knight Frank, wrote in a note. Apart...
Tags: Travel, Middle East, Jeddah, Riyadh, Knight Frank, Rupert Neil Bumfrey, Faisal Durrani, Knight Frank Bloomberg, Riyadh Tops Saudi Arabia, Knight Frank Bloomberg Saudi Arabia


Raffles Hotels & Resorts Continues Global Expansion With Openings In 2021 And Beyond

With newly appointed CEO Stephen Alden at the helm, Raffles Hotels & Resorts embarks on an exciting new era. A legendary brand known for transforming landmark properties in storied destinations around the world, Raffles is on track to more than double its illustrious portfolio, adding a host of distinguished locations that will continue to set the standard in the luxury hospitality industry. Later this year, Raffles will open a second hotel in Dubai (The Palm), along with Bahrain, Udaipur...
Tags: Travel, London, Boston, Moscow, Macau, Doha, Jeddah, Raffles, Dubai The Palm, Raffles Hotels amp, Raffles Hotels Resorts, Stephen Alden, Bahrain Udaipur


Mideast Stocks: #Saudi index drags most Gulf bourses lower; #AbuDhabi gains | ZAWYA MENA Edition

Mideast Stocks: Saudi index drags most Gulf bourses lower; Abu Dhabi gains | ZAWYA MENA Edition Most major stock markets in the Gulf ended lower on Sunday, with Saudi Arabia leading the losses, although the Abu Dhabi index bucked the trend to close higher.Saudi Arabia's benchmark declined 1.3%, dragged down by a 1.7% fall in Al Rajhi Bank and a 1.8% drop in Saudi National Bank, the kingdom's largest lender.Among others, dairy business Almarai Company2280.SE fell by 2.7% after reporting second-...
Tags: Travel, Saudi Arabia, Ipo, United Arab Emirates, Dubai, Abu Dhabi, Jeddah, Gulf, Mideast, Rupert Neil Bumfrey, Mubadala, Shuaa, Qatar National Bank QNB, Al Rajhi Bank, Emirates NBD Bank, Saudi National Bank


#SaudiArabia Plans $147 Billion Expansion for Transport Sector - Bloomberg

Saudi Arabia Plans $147 Billion Expansion for Transport Sector - Bloomberg Saudi Arabia plans to invest 550 billion riyals ($147 billion) in transport and logistics over the next nine years as Crown Prince Mohammed bin Salman looks to turn the kingdom into a global aviation hub.About 35% of that spending will come from the government and the rest from the private sector as officials launch a new international airline, expand airports, build a broader train network and explore new technologies,...
Tags: Travel, Saudi Arabia, Hyperloop, Jeddah, Riyadh, Mohammed bin Salman, Rupert Neil Bumfrey, Al Jasser, Billion Expansion for Transport Sector Bloomberg, Saleh Al Jasser, Riyadh Pushing


Mumzworld Online Retailer Bought by #Saudi's Tamer Group as FirstCry Gains Ground - Bloomberg

Mumzworld Online Retailer Bought by Saudi's Tamer Group as FirstCry Gains Ground - Bloomberg A Saudi conglomerate will buy the Middle East’s largest online children-goods retailer, underscoring the growth of e-commerce in the region amid increasing competition for business.Dubai-based Mumzworld said on Monday that it signed a sales and purchase agreement with Jeddah-based Tamer Group, describing it as the region’s first “woman-led e-commerce transaction.” Financial details weren’t disclosed.Th...
Tags: Travel, Middle East, Dubai, Jeddah, Rupert Neil Bumfrey, Tamer Group, FirstCry Gains Ground Bloomberg, Mumzworld, Mona Ataya


#SaudiArabia's retail market more investable as more women enter workforce, Majid Al Futtaim chief says | The National

Saudi Arabia's retail market more investable as more women enter workforce, Majid Al Futtaim chief says | The National The increasing number of women entering Saudi Arabia's workforce is one of a number of fundamental factors encouraging Dubai-based Majid Al Futtaim to make more investments in the kingdom, its chief executive said.Last week, the Dubai-based group appointed Aecom as lead consultant on its 16 billion Saudi riyals ($4.26bn) Mall of Saudi project and opened its first artificial in...
Tags: Travel, Saudi Arabia, Middle East, Dubai, Jeddah, Riyadh, Aecom, Majid Al Futtaim, Rupert Neil Bumfrey, The National Saudi Arabia, Saudi Arabia Alain, Bejjani Majid Al Futtaim Holding


#Saudi Jeddah Port Eyes Overseas Deals After Wealth Fund Backing - Bloomberg

Saudi Jeddah Port Eyes Overseas Deals After Wealth Fund Backing - Bloomberg The operator of Saudi Arabia’s Red Sea Gateway Terminal is looking to invest in ports in Africa and the Middle East, following backing from the kingdom’s sovereign wealth fund.The RSGT plans to invest in at least three international ports in the next five years, with each investment totaling as much as $500 million, port chief Jens Floe said. It’s also aiming to spend up to $1.7 billion developing its main port in Jedd...
Tags: Travel, Saudi Arabia, Africa, Bloomberg, Middle East, Jeddah, Red Sea, Rupert Neil Bumfrey, Public Investment Fund, Cosco Shipping Ports, Red Sea Gateway Terminal, RSGT, Jens Floe, Floe


#Saudi Crown Prince holds key talks with Qatari emir in Jeddah | ZAWYA MENA Edition

Saudi Crown Prince holds key talks with Qatari emir in Jeddah | ZAWYA MENA Edition Crown Prince Muhammad Bin Salman met with Qatar’s Emir Sheikh Tamim Bin Hamad at the Royal Court at Al-Salam Palace here early Tuesday.At the outset of the official meeting, the Crown Prince welcomed the Qatari emir and his accompanying delegation in Saudi Arabia, conveying to him the greetings of Custodian of the Two Holy Mosques King Salman. In turn, Sheikh Tamim extended his greetings to the Custodian of the ...
Tags: Travel, Saudi Arabia, Kingdom, Qatar, Prince, Cabinet, Jeddah, Royal Court, Custodian of the Two Holy Mosques, Muhammad Bin Salman, Mohammed bin Abdulrahman Al Thani, Rupert Neil Bumfrey, Khalid bin Salman, state Cabinet, Prince Faisal bin Farhan, Emir Sheikh Tamim Bin Hamad


#SaudiArabia Considers Starting a Homegrown Electric-Car Maker - Bloomberg

Saudi Arabia Considers Starting a Homegrown Electric-Car Maker - Bloomberg Saudi Arabia has hired advisers including Boston Consulting Group to explore establishing its own domestic electric-car maker, according to people familiar with the matter.The project is linked to existing plans to build up automotive infrastructure in the country and boost local manufacturing, said the people, who asked not to be identified because the deliberations aren’t public.A spokesperson for Saudi Arabia’s sover...
Tags: Travel, Elon Musk, Saudi Arabia, Tesla, Bloomberg, Turkey, Pif, Lucid, Jeddah, Riyadh, Bloomberg News, Red Sea, Boston Consulting Group, Rupert Neil Bumfrey, Public Investment Fund, Tesla Inc


STR: Preliminary Jeddah Hotel Data For March

Jeddah's hotel industry reported one of its highest monthly occupancy levels of the pandemic period, according to preliminary March 2021 data from STR.
Tags: Travel, Jeddah


Most major Gulf markets fall; #AbuDhabi gains | Reuters

Most major Gulf markets fall; Abu Dhabi gains | ReutersMost major stock markets in the Gulf ended lower on Monday, with the Saudi index pressured by its financial shares, while Abu Dhabi bucked the trend.Saudi Arabia’s benchmark index slipped 0.3%, hit by a 1.5% fall in Al Rajhi Bank and a 2.2% decrease in Saudi National Bank, the kingdom’s largest lender.Yemen’s Iran-aligned Houthi movement said on Monday it had fired 17 drones and two ballistic missiles at targets in Saudi Arabia, including Sa...
Tags: Travel, Saudi Arabia, Qatar, Iran, Dubai, Abu Dhabi, Yemen, Jeddah, Gulf, Reuters, Emaar Properties, Commercial Bank, QNB, Emaar, Rupert Neil Bumfrey, Industries Qatar


Billionaire #Saudi Family Breaks the Mold on Kingdom’s Secrecy - Bloomberg

Billionaire Saudi Family Breaks the Mold on Kingdom’s Secrecy - BloombergFor Ahmad BinDawood, last year’s share offering in the eponymous Saudi grocery business was a chance to shape his legacy at the family firm he’s worked at since the age of eight, while cementing a $3.1 billion fortune built over the decades by his father and uncles.As the October public offering of BinDawood Holding Co. got underway, details emerged of some $76 million in previously undisclosed loans made by the Saudi compa...
Tags: Travel, Ipo, Kingdom, Bloomberg, Jeddah, Riyadh, Bindawood, Rupert Neil Bumfrey, BinDawood Holding Co, BloombergFor Ahmad BinDawood


#Saudi Wealth Fund’s Lucid Windfall Will Make Up for Tesla Exit - Bloomberg

Saudi Wealth Fund’s Lucid Windfall Will Make Up for Tesla Exit - Bloomberg The second time proved the charm for Saudi Arabia’s foray into electric vehicles.The kingdom’s main sovereign wealth fund is sitting on paper gains of over 30-fold from its investment in Lucid Motors Inc., with the value of its stake set to rise as part of a deal to take the company public.The result is a boost for the $400 billion Public Investment Fund after missing out on an epic rally in Tesla Inc. shares when it sold...
Tags: Travel, Saudi Arabia, Lucid, Jeddah, Bloomberg News, SPAC, Mohammed bin Salman, Red Sea, Uber Technologies Inc, Mukesh Ambani, Rupert Neil Bumfrey, Public Investment Fund, Tesla Inc, Peter Rawlinson, Yasir al Rumayyan, Lucid Motors Inc


Riskiest Bank Capital Comes Cheaper in Gulf Than for UBS or HSBC - Bloomberg

Riskiest Bank Capital Comes Cheaper in Gulf Than for UBS or HSBC - Bloomberg The sale by Saudi Arabia’s biggest bank of a high-risk type of bond -- at better rates than larger international peers -- is spurring concerns that investors are mispricing risk amid booming global valuations.National Commercial Bank last month issued Additional Tier 1 notes at 3.5%, the lowest yield yet for the instrument from the region. That’s also cheaper than issuances over the past six months by higher-rated firms...
Tags: Travel, Saudi Arabia, India, Bloomberg, Middle East, Ubs, Jeddah, Fitch Ratings, NCB, Standard Chartered Plc, Rupert Neil Bumfrey, National Commercial Bank, Riskiest Bank Capital Comes Cheaper, HSBC Bloomberg, HSBC Holdings Plc UBS Group AG


#SaudiArabia Targets Deals to Expand Local Manufacturing to Diversify From Oil - Bloomberg

Saudi Arabia Targets Deals to Expand Local Manufacturing to Diversify From Oil - Bloomberg Yasir Al-Rumayyan said the PIF is in a “very advanced stage” of negotiating joint ventures as part of a partnership that could ease the path for foreign companies.   Photographer: Mohammed Al-Nemer/Bloomberg Saudi Arabia aims to agree on deals this year or next to expand local manufacturing, the head of the kingdom’s wealth fund, Yasir Al-Rumayyan, told a briefing in Riyadh.“Now we’re in t...
Tags: Travel, Saudi Arabia, Bloomberg, Jeddah, Riyadh, Red Sea, Rupert Neil Bumfrey, Public Investment Fund, Oil Bloomberg, Yasir al Rumayyan, Lucid Motors Inc, Oil Bloomberg Yasir Al Rumayyan, Mohammed Al Nemer Bloomberg Saudi Arabia, Lucid Al Rumayyan


#Saudi Wealth Fund in Talks with Lucid for Car Factory, FT Says - Bloomberg

Saudi Wealth Fund in Talks with Lucid for Car Factory, FT Says - Bloomberg Lucid Motors Inc. is in talks with Saudi Arabia’s sovereign wealth fund to build an electric vehicle factory in the kingdom, the Financial Times reported, citing an interview with the fund’s governor, Yasir Al-Rumayyan.Bloomberg reported earlier this month that Lucid is in talks with the kingdom’s Public Investment Fund to build a factory potentially near the Red Sea city of Jeddah. The company raised more than $1 billion...
Tags: Travel, Saudi Arabia, Softbank, Bloomberg, Financial Times, Pif, Lucid, Jeddah, Saudi Aramco, Red Sea, Rupert Neil Bumfrey, Public Investment Fund, Al Rumayyan, Bloomberg Lucid Motors Inc, Yasir Al Rumayyan Bloomberg



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