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Most Gulf markets in red; #Kuwait up on banks | Reuters

Most Gulf markets in red; Kuwait up on banks | Reuters Most stock markets in the Gulf ended lower on Sunday, with Dubai extending losses from the previous session as rising COVID infections in the United Arab Emirates weighed on sentiment.Saudi Arabia’s benchmark index dropped 0.5%, with National Commercial Bank, the country’s largest lender, shedding 1.7%, while Al Rajhi Bank was down 0.5%.The Saudi-led coalition battling Yemen’s Houthi movement said it had thwarted an air attack towards the Sa...
Tags: Travel, Saudi Arabia, Qatar, Iran, Middle East, United Arab Emirates, Dubai, Oxford University, Abu Dhabi, Yemen, Kuwait, Uae, Gulf, Reuters, Riyadh, Qatar National Bank


#Dubai Shares Drop on Restrictions, #Kuwait Banks Rise: Inside EM - Bloomberg

Dubai’s main equities index led losses in the Middle East after a fresh set of restrictions to contain the spread of coronavirus as cases keep rising. Banks in Kuwait advanced on potential dividend resumption.The DFM General Index fell as much as 1.6% on Sunday, adding to a 2% drop on Thursday. The benchmark in Abu Dhabi, Saudi Arabia and Qatar also traded lower, while the main gauge in Kuwait rose the most. Stocks in Dubai have risen the past few weeks on improved prospects for tourism and...
Tags: Travel, Qatar, Bloomberg, Middle East, United Arab Emirates, Dubai, Kuwait, Rupert Neil Bumfrey, Abu Dhabi Saudi Arabia, National Bank of Kuwait SAKP Kuwait Finance House, Gulf Bank KSCP


#Dubai leads most Gulf markets lower, but #AbuDhabi bucks the trend | Reuters

Most major Gulf stock markets slipped on Sunday, with Dubai hardest hit following a surge in coronavirus cases in the United Arab Emirates, but Abu Dhabi bucked the trend to trade higher.Dubai’s main share index dropped as much as 1.3% in early trade, with blue-chip developer Emaar Properties shedding 1.2%Financial stocks also drove the losses, led by a Dubai’s biggest lender, Emirates NBD Bank, which was down 0.4%.Dubai has suspended non-essential surgery for a month and live entertainment in h...
Tags: Travel, Saudi Arabia, Middle East, United Arab Emirates, Dubai, Oxford University, Abu Dhabi, Kuwait, Uae, Gulf, Reuters, Emaar Properties, Abu Dhabi Commercial Bank, Rupert Neil Bumfrey, Industries Qatar, Saudi Basic Industries


Most Mideast Equity Gauges Fall as Earnings Roll In: Inside EM - Bloomberg

Most Mideast Equity Gauges Fall as Earnings Roll In: Inside EM - Bloomberg Qatar stocks led losses in the Middle East as companies started reporting results across the region.Profitability for lenders in the Gulf Arab region remains under pressure, with disruptions to trade and travel continuing to rattle the energy-rich region. Qatar National Bank QPSC, the Middle East’s biggest lender, reported last week a 16% drop in net income for 2020. Some banks in Oman also published results that showed a...
Tags: Travel, Bloomberg, Egypt, Middle East, United Arab Emirates, Dubai, Oman, Abu Dhabi, Kuwait, Doha, Riyadh, Bloomberg Intelligence, Gulf Arab, National Bank, Rupert Neil Bumfrey, Oza


NBK Capital Partners aims to boost assets to $2bn by 2025 | The National

NBK Capital Partners aims to boost assets to $2bn by 2025 | The National NBK Capital Partners, a subsidiary of Kuwait’s biggest lender, aims to boost its assets under management to $2 billion by 2025 as it looks to launch a new technology-focused investment platform, its senior managing director said.More investment deals and boosting investments in its existing portfolio of healthcare, pharmaceutical and e-commerce companies, will help nearly double AUMs over the next five years from the curren...
Tags: Travel, Kuwait, The National, Rupert Neil Bumfrey, MOUSTAFA, NBK Capital Partners, Yaser Moustafa, National NBK Capital Partners


Fixed income market outlook: GCC issuances to remain subdued in 2021 | ZAWYA MENA Edition

Fixed income market outlook: GCC issuances to remain subdued in 2021 | ZAWYA MENA Edition Kuwait-based Kamco Invest expects fixed income issuances in 2021 in the GCC to remain flat to marginally lower year-on-year (y-o-y) after record growth last year. “Government issuances are expected to decline from the exceptional growth in 2020 due to significantly smaller deficit financing expected next year. On the other hand, corporate issuances are expected to remain strong led by economic revival, bett...
Tags: Travel, GCC, Kuwait, Rupert Neil Bumfrey, Kamco Invest


#Kuwait government resigns en masse in challenge for new emir | Reuters

Kuwait government resigns en masse in challenge for new emir | Reuters Kuwaiti ministers handed in their resignations to the prime minister on Tuesday, the government communications office (CGC) said, days after lawmakers submitted a motion asking to question the premier over issues including the makeup of the cabinet.Prime Minister Sheikh Sabah al-Khalid al-Sabah must submit the resignations to the OPEC member state’s ruler, Emir Sheikh Nawaf al-Ahmed al-Sabah, for approval. Three main Kuwaiti ...
Tags: Travel, Opec, Sabah, Kuwait, Reuters, CGC, Rupert Neil Bumfrey, Reuters Kuwaiti, Sabah al Khalid al Sabah, Emir Sheikh Nawaf al Ahmed al Sabah


OPEC Core’s Exports Edged Higher Before Talks on Output Targets - Bloomberg

OPEC Core’s Exports Edged Higher Before Talks on Output Targets - Bloomberg OPEC’s Persian Gulf exporters shipped more oil last month than at any time since May, when their current round of output restraint came into effect. The move came before a slight easing of output curbs in January and talks to decide whether to change production targets in February.Combined shipments of crude and condensate -- a light form of oil extracted from gas fields -- from Saudi Arabia, Iraq, the United Arab Emirat...
Tags: Travel, Saudi Arabia, Iraq, Opec, Bloomberg, United Arab Emirates, Kuwait, Uae, Persian Gulf, Saudi Arabia Kuwait, Rupert Neil Bumfrey, Saudi Arabia Iraq, Bloomberg OPEC, OPEC Core


#SaudiArabia, #Qatar to sign U.S.-brokered deal to ease Gulf crisis - Axios

Saudi Arabia, Qatar to sign U.S.-brokered deal to ease Gulf crisis - Axios Saudi Crown Prince Mohammed bin Salman (L) and Qatar Emir Sheikh Tamim Bin Hamad Al-Thani. Photo: Fayez Nureldine/AFP via Getty Images Saudi Arabia, Qatar and other Gulf countries are expected to sign an agreement on Tuesday toward ending a diplomatic crisis in the Gulf after 3½ years. The big picture:  A Saudi-led coalition severed ties with Qatar in 2017 and closed their airspace and sea routes to Qatar...
Tags: Travel, Washington, Saudi Arabia, White House, Qatar, Joe Biden, Iran, Egypt, GCC, Biden, Muslim Brotherhood, Bahrain, Kuwait, Doha, Gulf, Trump


#SaudiArabia to open borders with #Qatar to end bitter Gulf dispute | Financial Times

Saudi Arabia to open borders with Qatar to end bitter Gulf dispute | Financial Times Saudi Arabia has agreed to reopen its land, air and sea borders with Qatar in a move to end a dispute lasting more than three years that triggered an unprecedented crisis in the oil-rich Gulf and pitted US allies against each other. Kuwait, which has been mediating between the rivals, said the borders would be open from Monday evening. The rapprochement comes after Crown Prince Mohammed bin Salman, Saudi Arab...
Tags: Travel, Saudi Arabia, US, Qatar, Kuwait, Doha, | Financial Times, Gulf, Trump, Mohammed bin Salman, Rupert Neil Bumfrey, Tamim bin Hamad


#Kuwait oil minister expects gradual recovery in oil demand -KUNA | Reuters

Kuwait oil minister expects gradual recovery in oil demand -KUNA | Reuters Kuwait’s oil minister said on Monday that he expects a gradual recovery in oil demand, particularly in the second half of 2021, as many countries around the world start to distribute coronavirus vaccines, state news agency KUNA reported. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Kuwait, Reuters, Kuna, Reuters Kuwait, Rupert Neil Bumfrey


#UAE Stocks Rise Most in Mideast, Track Global Peers: Inside EM - Bloomberg

UAE Stocks Rise Most in Mideast, Track Global Peers: Inside EM - Bloomberg Benchmark indexes in the United Arab Emirates climbed the most in the Middle East, tracking global stock rallies on optimism surrounding the rollout of coronavirus vaccines.Indexes in Oman and Israel also rose, while the main gauges in Egypt and Qatar were unchanged. The Tadawul All Share Index in Riyadh dropped the most in the region, with 20 out of its 21 sectors declining. Markets in Kuwait and Bahrain were closed for ...
Tags: Travel, Israel, Qatar, Bloomberg, Egypt, Middle East, United Arab Emirates, Oman, Abu Dhabi, Bahrain, Kuwait, Uae, Gulf, Riyadh, Mideast, Pfizer Inc


#Dubai Stocks Rise Most in Mideast, Track Global Peers: Inside EM - Bloomberg

Dubai Stocks Rise Most in Mideast, Track Global Peers: Inside EM - Bloomberg Dubai’s benchmark index climbed the most in the Middle East, tracking global stock rallies on optimism surrounding the rollout of coronavirus vaccines.Indexes in Abu Dhabi, Oman and Israel also rose, while Egypt’s main gauge fell. The Tadawul All Share Index in Riyadh dropped, weighed down by consumer durables and the apparel sector. Markets in Kuwait and Bahrain were closed for a public holiday.Last week, emerging-mark...
Tags: Travel, Israel, Bloomberg, Egypt, Middle East, United Arab Emirates, Dubai, Bahrain, Kuwait, Gulf, Riyadh, Mideast, Pfizer Inc, Rupert Neil Bumfrey, Abu Dhabi Oman, Sinopharm


#Saudi outperforms Middle East markets in 2020 | Reuters

Saudi outperforms Middle East markets in 2020 | Reuters Saudi Arabian shares ended 2020 higher, outperforming other Middle East markets in a pandemic-ravaged year on the back of a recovery in oil prices and strong inflows, while Egyptian equities declined the most in the region.Middle East stocks had fallen between 13% and 36% in the first quarter as the spread of COVID-19 and an oil price war between top producers Saudi Arabia and Russia raised fears of a global recession.However, the markets t...
Tags: Travel, Saudi Arabia, Russia, Middle East, Dubai, Abu Dhabi, Bahrain, Kuwait, Reuters, Saudi Aramco, Ansari, Mathew, Tasi, GCC Gulf Cooperation Council, Rupert Neil Bumfrey, Reuters Saudi Arabian


MIDEAST STOCKS- #Saudi shares set to finish 2020 higher, other Gulf markets subdued | Nasdaq

Saudi Arabian Shares fell in early trade on the last day of the 2020, but were set to close the session with a yearly gain, overcoming the first-quarter shock triggered by a global recession fears on COVID-19 and the Saudi-Russia oil price war.Other Gulf markets were set to end the year with losses except Qatar and Abu Dhabi, which were trading with marginal yearly gain of 1.1% and 0.3%, respectively.All Gulf stock markets had fallen between 13% and 36% in the first quarter, with Bahrain extendi...
Tags: Travel, Saudi Arabia, Russia, Qatar, Dubai, Oman, Abu Dhabi, Bahrain, Kuwait, Gulf, Rupert Neil Bumfrey, Dubai Islamic Bank, Samba Financial Group, Emaar Properties EMAR DU, Abu Dhabi Islamic Bank ADIB, Other Gulf


#Dubai's Majid Al Futtaim forays into Uzbekistan | ZAWYA MENA Edition

Dubai's Majid Al Futtaim forays into Uzbekistan | ZAWYA MENA Edition Dubai’s retail giant Majid Al Futtaim (MAF) is expanding into Uzbekistan with the opening of a new grocery store in the country’s capital.The first Carrefour outlet in Tashkent, which promises to offer more than 16,000 food and non-food products, marks a major milestone in the brand’s regional expansion, a statement issued on Tuesday said.It is the latest addition to MAF’s overseas portfolio, which includes VOX cinemas in Saudi...
Tags: Travel, Saudi Arabia, Middle East, Dubai, Kenya, Uzbekistan, Vox, Kuwait, Uae, Tashkent, Majid Al Futtaim, Carrefour, MAF, Rupert Neil Bumfrey, Majid Al Futtaim MAF, MENA Edition Dubai


#Qatar Sees No Political Obstacles for Resolving Gulf Standoff - Bloomberg

Qatar Sees No Political Obstacles for Resolving Gulf Standoff - Bloomberg Qatar’s foreign minister said talks were ongoing to resolve the rift that has divided the energy-rich Gulf nations, and that there weren’t any obstacles to resolve the crisis at a political level.Talks on a reconciliation had taken place with Saudi Arabia, which represented the other parties to the dispute, Sheikh Mohammed bin Abdulrahman Al Thani said in Moscow, according a statement posted on Qatar’s foreign ministry web...
Tags: Travel, Saudi Arabia, Qatar, Iran, Egypt, Moscow, Kuwait, Gulf, Riyadh, Gulf Cooperation Council, Iran Saudi Arabia, United Arab Emirates Bahrain, Mohammed bin Abdulrahman Al Thani, Rupert Neil Bumfrey, UAE Bahrain, Bloomberg Qatar


GCC real estate market will remain under pressure; developers to continue offering incentives | ZAWYA MENA Edition

GCC real estate market will remain under pressure; developers to continue offering incentives | ZAWYA MENA Edition The residential market in the GCC is expected to remain under pressure until segment fundamentals such as number of households, employment rates improve, KAMCO Invest said in a report.The Kuwait based investment and financial services company said developers will continue to offer a range of incentives such as fee waivers, discounts and rent-to-own agreements, combined with home fin...
Tags: Travel, GCC, Kuwait, Rupert Neil Bumfrey


#Kuwait signs deal with Greece's DESFA for liquefied gas import terminal - report | Reuters

Kuwait signs deal with Greece's DESFA for liquefied gas import terminal - report | Reuters Kuwait has signed a six-year, $106 million contract with Greek gas grid operator DESFA for the group to operate a liquefied natural gas import terminal in the Gulf emirate, the state-run news agency KUNA reported on Thursday.The LNG terminal, in the al-Zour area, will go into operation next year, the agency said, citing an official from state-owned Kuwait Integrated Petroleum Industries Company, which sign...
Tags: Travel, Greece, Kuwait, Gulf, Reuters, Kuna, Zour, Reuters Kuwait, Rupert Neil Bumfrey, Kuwait Integrated Petroleum Industries Company


Saudis pushing for Gulf dispute breakthrough at summit - sources | Reuters

Saudis pushing for Gulf dispute breakthrough at summit - sources | Reuters An annual Gulf Arab summit has been put off to January while parties locked in a rancorous row that led to a boycott of Qatar work towards announcing a tangible deal, though a final resolution is likely to take longer, informed sources said. The dispute, in which Saudi Arabia and its allies severed diplomatic, trade and travel ties with Qatar in mid-2017, has seen movement with Riyadh earlier this month saying a final sol...
Tags: Travel, Saudi Arabia, Qatar, Iran, United States, Kuwait, Reuters, Riyadh, Rupert Neil Bumfrey


Vaccine Adds to ‘Excellent Recipe’ for Recovery in Middle East - Bloomberg

Vaccine Adds to ‘Excellent Recipe’ for Recovery in Middle East - Bloomberg Stock markets in the United Arab Emirates and Saudi Arabia are poised to lead the region’s recovery from the impact of the pandemic and low oil prices as countries in the Middle East prepare for their vaccination roll-outs, analysts say.The UAE and Bahrain have already registered China-backed Sinopharm Group Co Ltd.’s vaccine for use, and Egypt received its first shipment. Meanwhile, Saudi Arabia and Kuwait authorized the...
Tags: Travel, Saudi Arabia, China, Egypt, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Bahrain, Kuwait, Uae, Pfizer Inc, Rupert Neil Bumfrey, Middle East Bloomberg, Middle East Bloomberg Stock, Sinopharm Group Co Ltd


Major ‘economic’ changes expected from #Kuwait's parliament | ZAWYA MENA Edition

Major ‘economic’ changes expected from Kuwait's parliament | ZAWYA MENA Edition Regarding the expectations from this Parliament concerning economic affairs, it seems that major changes are in order. A parliament of this kind will not accept crusty economic reforms, but will go deeper and demand a lot.This is because the parliamentary body includes those familiar with financial affairs and are fiercely fighting administrative corruption, reports Al-Nahar daily.The results of the parliamentary ele...
Tags: Travel, Parliament, Kuwait, Al Nahar, Rupert Neil Bumfrey


Billions in the bank, yet #Kuwait is squeezed for cash | Financial Times

Billions in the bank, yet Kuwait is squeezed for cash | Financial Times A Kuwaiti woman casts her vote. As pressure builds on public services, many Kuwaitis have ratcheted up rhetoric against expatriates © Noufal Ibrahim/EPA-EFE/Shutterstock When Kuwait’s prime minister returns to office in the coming weeks, he faces an apparent paradox: the Gulf state with a $550bn sovereign wealth fund is running short on cash to pay ballooning public sector salaries.  Oil accounts for 9...
Tags: Travel, Iraq, Kuwait, Financial Times, Gulf, Rupert Neil Bumfrey, Nawaf al Ahmad al Sabah, Noufal Ibrahim EPA, Sheikh Sabah al Khaled al Sabah


MIDEAST STOCKS-Most markets gain as financials rise; #Qatar eases | Nasdaq

MIDEAST STOCKS-Most markets gain as financials rise; Qatar eases | Nasdaq Most Gulf stock markets rose in early trade on Wednesday, supported by gains in financials, while petrochemical firm Industries Qatar dragged down Qatari stocks.Saudi Arabia's benchmark index .ADI rose 0.4%, with Al Rajhi Bank 1120.SE gaining 0.5% and petrochemical maker Saudi Basic Industries 2010.SE up 0.7%.Oil giant Saudi Aramco 2222.SE and energy services company Baker Hughes BKR.N formed a 50/50 joint venture, Novel, ...
Tags: Travel, Washington, Saudi Arabia, Qatar, United States, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Kuwait, Gulf, Aramco, Adi, Emirati, Emaar, Rupert Neil Bumfrey


#UAE official lauds efforts to strengthen Gulf unity | Reuters

UAE official lauds efforts to strengthen Gulf unity | Reuters The United Arab Emirates appreciates efforts by Kuwait and the United States to strengthen Gulf Arab unity, a senior Emirati official said on Tuesday in a reference to a row with Qatar that Washington says hampers a united Gulf front against Iran.Kuwait and Saudi Arabia said last Friday that progress had been made towards resolving the dispute that has seen Saudi Arabia, the UAE, Bahrain and Egypt sever diplomatic, trade and travel ti...
Tags: Travel, Washington, Saudi Arabia, Qatar, United States, Egypt, United Arab Emirates, Kuwait, Uae, Gulf, Reuters, Riyadh, Emirati, Gulf Cooperation Council GCC, Rupert Neil Bumfrey, Anwar Gargash


Wide Gulf - Riyadh Bureau - #Qatar #SaudiArabia #Kuwait tks @ahmed

Wide Gulf - Riyadh Bureau - #Qatar #SaudiArabia #Kuwait tks @ahmed Saudi foreign minister Prince Faisal bin Farhan (Abdulhamid Hosbas/Anadolu Agency/Getty) Is the Gulf crisis about to be resolved? Noises from Kuwait, Riyadh and Doha all suggest that, after more than three years of impasse and near misses, we may finally have a breakthrough.Kuwait foreign minister Sheikh Ahmed Nasser al-Mohammed al-Sabah said Friday that “fruitful talks” were recently held and all parties “a...
Tags: Travel, Qatar, Egypt, GCC, Middle East, Al Jazeera, Donald Trump, Kuwait, Doha, Gulf, State, Qatar Airways, MANAMA, Mike Pompeo, Rupert Neil Bumfrey, UAE Bahrain


MIDEAST STOCKS-Major Gulf markets ease on weaker oil; #Dubai rises | Nasdaq

MIDEAST STOCKS-Major Gulf markets ease on weaker oil; Dubai rises | Nasdaq Major Gulf markets were subdued in early trading on Monday, mirroring weak oil prices, while the Dubai index was on track to extend gains from the previous session.Brent crude oil futures LCOc1 were down 24 cents, or 0.5%, at $49.01 a barrel by 0752 GMT, as a continued surge in coronavirus cases globally forced a series of renewed lockdowns. O/RSaudi Arabia's benchmark index .TASI fell 0.2%, with Al Rajhi Bank 1120.SE los...
Tags: Travel, Washington, Saudi Arabia, Qatar, Iran, Egypt, Dubai, Abu Dhabi, Kuwait, Doha, Gulf, United Arab Emirates Bahrain, Tasi, Rupert Neil Bumfrey, QSI, Al Rajhi Bank


Doha Stocks Rally on #SaudiArabia, #Qatar Talks: Inside EM - Bloomberg

Doha Stocks Rally on Saudi Arabia, Qatar Talks: Inside EM - Bloomberg Stocks in Doha rallied after Saudi Arabia and Qatar said they were making progress toward ending a three-year long rift, providing the latest spur to a region being buttressed by a jump in oil prices and improved investor sentiment toward emerging markets.Qatar’s benchmark QE Index gained as much as 1.8%, with all but one of its 20 members rising. Equities gauges in Dubai and Abu Dhabi also jumped as trading resumed after a ho...
Tags: Travel, Saudi Arabia, Opec, Qatar, Bloomberg, United Arab Emirates, Dubai, Abu Dhabi, Kuwait, Equities, Doha, Saudi Arabia Qatar, Rupert Neil Bumfrey, United Arab Emirates Shares, Shuaa Securities, Bloomberg Stocks


Gulf Stocks Rally on #SaudiArabia, #Qatar Talks: Inside EM - Bloomberg

Gulf Stocks Rally on Saudi Arabia, Qatar Talks: Inside EM - Bloomberg Middle East stocks rallied after Saudi Arabia and Qatar said they were making progress toward ending a three-year long rift, providing the latest spur to a region being buttressed by a jump in oil prices and improved investor sentiment toward emerging markets.Qatar’s benchmark QE Index gained as much as 1.8%, with all but one of its 20 members rising. Equities gauges in Dubai and Abu Dhabi also climbed as trading resumed after...
Tags: Travel, Saudi Arabia, Opec, Qatar, Bloomberg, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Kuwait, Equities, Doha, Saudi Arabia Qatar, Rupert Neil Bumfrey, United Arab Emirates Shares, Shuaa Securities


#Kuwait’s Economy in Crisis a Sideshow as Nation Goes to Polls - Bloomberg

Kuwait’s Economy in Crisis a Sideshow as Nation Goes to Polls - Bloomberg Kuwaitis get another chance Saturday to do something rare in the Arab Gulf -- elect lawmakers with a real say in how their country is run.Yet it’s hard to detect much enthusiasm. The parliamentary election comes at a make-or-break moment for an economy reeling from lower oil prices, the pandemic and stalled reform. But rescue efforts are stuck as a government appointed by Kuwait’s ruler and lawmakers with enough power to p...
Tags: Travel, Saudi Arabia, Opec, Qatar, Bloomberg, Treasury, Kuwait, National Assembly, Arab Gulf, Rupert Neil Bumfrey, Polls Bloomberg Kuwaitis, Ayed Al Manna



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