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MIDEAST STOCKS Most Gulf markets rise as oil rebounds; Egypt bucks trend | Reuters

MIDEAST STOCKS Most Gulf markets rise as oil rebounds; Egypt bucks trend | Reuters Major stock markets in the Gulf ended higher on Thursday, supported by a rebound in oil prices, but the Egyptian index bucked the trend to close lower.Brent crude oil futures LCOc1 were up 18 cents, or 0.25%, at $72.40 a barrel by 1024 GMT, holding just shy of a high not seen since May 2019.Saudi Arabia's benchmark index (.TASI) edged up 0.1%, extending gains for the fourth consecutive session, with Al Rajhi...
Tags: Travel, Saudi Arabia, Qatar, Egypt, Dubai, Abu Dhabi, Gulf, Reuters, Adi, Reuters Major, Riyad Bank, Tasi, Rupert Neil Bumfrey, Industries Qatar, EIG Global Energy Partners, QSI


MIDEAST STOCKS Major Gulf indexes mixed in early trade | Reuters

MIDEAST STOCKS Major Gulf indexes mixed in early trade | Reuters Major Gulf stocks were mixed in early trade on Thursday, with the Saudi Arabia index on track to gain for a fourth consecutive session, buoyed by banking shares.Saudi Arabia's benchmark index (.TASI) edged up 0.1%, with Al Rajhi Bank (1120.SE) gaining 0.6% and Saudi National Bank (1180.SE) advancing 0.4%.Separately, Saudi Arabia's sovereign wealth fund, the Public Investment Fund, said on Tuesday it has established two deputy gov...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, Tasi, Rupert Neil Bumfrey, EIG Global Energy Partners, Mubadala, Public Investment Fund, Qatar National Bank QNB, Al Rajhi Bank, First Abu Dhabi Bank, DFMGI


Major Gulf markets end mixed; financials weigh on #Saudi | Reuters

Major Gulf markets end mixed; financials weigh on Saudi | ReutersMajor stock markets in the Gulf ended mixed on Sunday, with the Saudi index pressured by financial shares amid falling oil prices, while Dubai was supported by property stocks.Oil prices settled lower on Friday and lost around 2% on the week as production increases and renewed COVID-19 lockdowns in some countries offset optimism about a recovery in fuel demand. [O/R]Moves in oil prices are a key catalyst for the Gulf region’s finan...
Tags: Travel, Saudi Arabia, Middle East, Dubai, Abu Dhabi, Gulf, Reuters, Al Arabiya, Emaar Properties, Etisalat, QNB, Emaar, Rupert Neil Bumfrey, Industries Qatar, Mohamed Alabbar, Qatar National Bank QNB


MIDEAST STOCKS-Most Gulf indexes rebound on global rally, higher oil prices | Nasdaq

MIDEAST STOCKS-Most Gulf indexes rebound on global rally, higher oil prices | Nasdaq Most bourses in the Gulf rebounded in early trade on Thursday, tracking a rally in global equity markets and a jump in oil prices.Oil prices extended gains for a fourth straight session to reach the highest levels in more than 13 months, underpinned by assurance of continued supportive measures by the U.S. Federal Reserve and a sharp drop in U.S. crude output.Saudi's benchmark index .TASI was up 1.4%, aided by a...
Tags: Travel, Wam, Qatar, Joe Biden, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Mohammed bin Salman, Salman, U S Federal Reserve, Tasi, Rupert Neil Bumfrey, Emirates NBD ENBD DU


MIDEAST STOCKS- #AbuDhabi outperforms as major Gulf markets rise | Nasdaq

MIDEAST STOCKS-Abu Dhabi outperforms as major Gulf markets rise | Nasdaq Major stock markets in the Gulf traded higher on Tuesday, led by indexes in the United Arab Emirates where telecoms firms surged on prospects that non-UAE nationals' shareholdings could rise.In Abu Dhabi, the benchmark .ADI rose 2.1%, boosted by an 11.1% jump in Emirates Telecommunications (Etisalat) ETISALAT.AD.Etisalat saw its biggest percentage gain in 10 months as the company called a board meeting for Wednesday, to dis...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Riyadh, Etisalat, QNB, Tasi, Rupert Neil Bumfrey, Qatar National Bank QNB, Al Rajhi Bank, Emirates Integrated Telecommunications DU DU


NCB-Samba to merge into #Saudi banking heavyweight | Reuters

NCB-Samba to merge into Saudi banking heavyweight | Reuters:Saudi Arabia's biggest lender National Commercial Bank 1180.SE (NCB) has entered a binding merger agreement with smaller lender Samba Financial Group 1090.SE to create a combined entity with 837 billion riyals ($223 billion) in assets, NCB said on Sunday.Low oil prices and weak economic growth are pushing bank consolidation across the Gulf.Once completed, the NCB-Samba tie-up would create the Gulf region's third largest lender by assets...
Tags: Travel, Saudi Arabia, Uae, Gulf, Samba, Reuters, NCB, Rupert Neil Bumfrey, Samba Financial Group, Qatar National Bank QNB, First Abu Dhabi Bank, NCB Samba, National Commercial Bank 1180 SE NCB, Gulf Once


#Qatar National Bank to raise $3.5 billion loan - sources | Reuters

Qatar National Bank to raise $3.5 billion loan - sources | Reuters:Qatar National Bank (QNB) QNBK.QA, the Gulf's biggest lender, plans to raise a $3.5 billion loan with a group of banks, said four sources familiar with the matter.The planned transaction would refinance an existing $3.5 billion debt facility the bank raised in 2017 and which is due in December this year.Two of the sources said HSBC will have a leading role in the deal. QNB did not immediately respond to a comment request while HS...
Tags: Travel, Hsbc, Gulf, Reuters, Qatar National Bank, QNB, Rupert Neil Bumfrey, Qatar National Bank QNB


Middle East stocks: Most Gulf markets gain; #Saudi bourse slips | Reuters

Middle East stocks: Most Gulf markets gain; Saudi bourse slips | Reuters: Most Middle Eastern markets ended higher on Wednesday, with Bahrain outperforming the region, while bank stocks weighed on the Saudi index.Saudi Arabia's benchmark index .TASI slipped 0.1% and snapped a four-session winning streak, weighed by Al Rajhi Bank's 1120.SE 0.4% fall and Riyad Bank's 1010.SE 1.3% tumble.Saudi Arabia's largest telecoms operator Saudi Telecom Company (STC) 7010.SE gained 1% as STC has asked banks to...
Tags: Travel, Saudi Arabia, Israel, Qatar, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Bahrain, Gulf, Reuters, Adi, STC, Riyad Bank, Qatar National Bank, Bax


#SaudiArabia's biggest lender NCB in merger talks with Samba - Reuters

Saudi Arabia's biggest lender NCB in merger talks with Samba - Reuters:National Commercial Bank (1180.SE), Saudi Arabia’s biggest lender, said on Thursday it had signed an initial agreement with smaller lender Samba Financial Group (1090.SE) to create a combined entity with almost $214 billion in assets.NCB’s offer would value each Samba share at 27.42 to 29.32 riyals ($7.82), giving it a maximum market value of $15.63 billion, 27.5% above its market value of nearly $12.3 billion based on Wednes...
Tags: Travel, Saudi Arabia, Uae, Gulf, Samba, Reuters, NCB, Rupert Neil Bumfrey, Samba Financial Group, Qatar National Bank QNB, First Abu Dhabi Bank, Samba Reuters


UPDATE 2- #Qatar National Bank raises $1 billion in seven-year bonds - Reuters

UPDATE 2-Qatar National Bank raises $1 billion in seven-year bonds - Reuters:Qatar National Bank (QNB), the Gulf’s biggest bank by assets, raised $1 billion in seven-year bonds offering a 2.75% coupon, a document showed on Wednesday. Barclays, Credit Agricole, Mizuho, QNB Capital and Standard Chartered arranged the deal.QNB Finance is the issuer and Qatar National Bank is the guarantor for the debt sale, which attracted more than $3 billion in orders.The bonds were marketed with an initial price...
Tags: Travel, Gulf, Reuters, Qatar National Bank, Rupert Neil Bumfrey, Qatar National Bank QNB, QNB Finance


UPDATE 1- #Qatar National Bank to sell seven-year dollar bonds - Reuters

UPDATE 1-Qatar National Bank to sell seven-year dollar bonds - Reuters:Qatar National Bank (QNB), the Gulf’s biggest bank by assets, on Wednesday started marketing U.S. dollar-denominated bonds with a seven-year maturity, a document showed.QNB has hired Barclays, Credit Agricole, Mizuho , QNB Capital and Standard Chartered to arrange the potential deal, which would be of benchmark size - normally meaning upwards of $500 million.QNB Finance is the issuer and Qatar National Bank is the guarantor f...
Tags: Travel, Gulf, Reuters, Formosa, Qatar National Bank, QNB, Rupert Neil Bumfrey, Qatar National Bank QNB, QNB Finance


#Qatar National Bank nine-month net profit rises 4% to 11.2 billion riyals - Reuters

Qatar National Bank nine-month net profit rises 4% to 11.2 billion riyals - Reuters:Qatar National Bank (QNB) (QNBK.QA), the Gulf’s largest lender, reported a 4% increase in nine-month net profit to 11.2 billion riyals ($3.1 billion) on Wednesday, broadly in line with analyst estimates.Third-quarter net profit was 3.8 billion riyals in the three months to Sept. 30 according to a Reuters calculation, up from 3.72 billion riyals in the corresponding period of 2018.EFG Hermes had forecast a third-q...
Tags: Travel, Gulf, Reuters, Qatar National Bank, EFG Hermes, Rupert Neil Bumfrey, SICO Bahrain, Qatar National Bank QNB


#Qatar National Bank first-quarter net profit rises 3.8 percent, loans up 5 percent - Reuters

Qatar National Bank first-quarter net profit rises 3.8 percent, loans up 5 percent - Reuters:Qatar National Bank (QNB), the Gulf’s largest lender, reported a 3.8 percent increase in first-quarter net profit on Tuesday, broadly in line with analysts’ forecasts.Net profit in the three months to March 31 was 3.56 billion riyals ($978 million), the bank said in a statement, compared with 3.43 billion riyals in the corresponding period of 2018.EFG Hermes forecast a higher net profit of 3.71 billion r...
Tags: Travel, Hermès, Gulf, Reuters, Qatar National Bank, Rupert Neil Bumfrey, SICO Bahrain, Qatar National Bank QNB


QNB lifts quarterly profit on lending growth as #Qatar weathers blockade | Reuters

QNB lifts quarterly profit on lending growth as Qatar weathers blockade | Reuters:Qatar National Bank (QNB) reported an increase in fourth-quarter net profit on Tuesday, benefiting from strong lending growth as Qatar has pushed ahead with spending on the 2022 soccer World Cup and other infrastructure.The largest bank by assets in the Middle East and Africa reported a net profit of 3 billion riyals ($800 million) in the three months to the end of the year, compared with 2.88 billion riyals in the...
Tags: Travel, Africa, Qatar, Middle East, Reuters, QNB, Rupert Neil Bumfrey, Qatar National Bank QNB


#Qatar National Bank raising 2 billion euro loan - LPC | Reuters

Qatar National Bank raising 2 billion euro loan - LPC | Reuters:Qatar National Bank (QNB) , the largest bank by assets in the Middle East and Africa, is raising a 2 billion euro ($2.29 billion) syndicated loan, according to LPC, a fixed income news service that is part of Refinitiv.The loan would replace a 2.25 billion euro-denominated loan obtained in May 2016 which matures in May, sources familiar with the matter told Reuters in September.Banca IMI, Credit Agricole, Societe Generale and UniCre...
Tags: Travel, Africa, Middle East, Reuters, UniCredit, Commercial Bank of China, LPC, Qatar National Bank, ING, Rupert Neil Bumfrey, Qatar National Bank QNB, Banca IMI Credit Agricole Societe Generale


Qatar names QNB CEO as trade and industry minister

Qatar names QNB CEO as trade and industry minister:Qatar on Sunday appointed the chief executive of Qatar National Bank (QNB) as the Gulf Arab state’s trade and industry minister.Ali Ahmed al-Kuwari was named to the post in a cabinet reshuffle that included changes to the justice, labour and social affairs ministries.QNB, the Middle East’s largest lender by assets, is 50 percent owned by the Qatar Investment Authority, Qatar’s sovereign wealth fund. [Author: [email protected] (Rupert Neil B...
Tags: Travel, Qatar, Middle East, QNB, Rupert Neil Bumfrey, Qatar National Bank QNB, Ali Ahmed al Kuwari, Qatar Investment Authority Qatar


UPDATE 1-Qatar National Bank sees Q2 boost in net interest income | Reuters

UPDATE 1-Qatar National Bank sees Q2 boost in net interest income | Reuters:Qatar National Bank (QNB) reported a 6.3 percent increase in second-quarter net profit on Wednesday, as a rise in net interest income helped offset an increase in bad loans for the Middle East and Africa’s largest lender.The bank made a net profit of 3.67 billion riyals ($1.01 billion) in the three months to June 30, compared with 3.45 billion riyals in the corresponding period of 2017, according to a financial statement...
Tags: Travel, Africa, Middle East, Reuters, Qatar National Bank, Rupert Neil Bumfrey, Qatar National Bank QNB


MIDEAST STOCKS-Qatar leads Gulf down in quiet trade, QNB retreats from high | Reuters

:"Gulf stock markets mostly dropped on Wednesday in modest volumes, led by Qatar, where top lender Qatar National Bank (QNB) and several other blue-chips fell sharply on profit-taking. Qatar’s index lost 2.3 percent as Qatar Islamic Bank (QIB) fell 4.7 percent in heavy trade; its unit QInvest reported first-quarter net profit of 1.7 million riyals, down from 15 million riyals a year ago. QNB, which had on Tuesday surged to its highest level since December 2014, fell back 2.1 percent in heavy vol...
Tags: Travel, Qatar, Gulf, Reuters, QNB, Rupert Neil Bumfrey, Qatar National Bank QNB, Qatar Electricity and Water, Qatar Islamic Bank QIB


MIDEAST STOCKS-Qatar falls as blue chip banks give up recent gains | Reuters

MIDEAST STOCKS-Qatar falls as blue chip banks give up recent gains | Reuters:"Qatari stocks fell on Wednesday, weighed down by Qatar National Bank (QNB) and Qatar Islamic Bank, while other Gulf markets were mixed The Qatar index was trading 1.8 percent lower as blue-chip stock Qatar National Bank fell 3.5 percent, giving up some of the recent gains driven by a 7 percent rise in first-quarter net profit, helped by rapid loan growth. Other index heavyweights Qatar Islamic Bank and Industries Qatar...
Tags: Travel, Qatar, Gulf, Reuters, Qatar National Bank, Qatar Islamic Bank, Rupert Neil Bumfrey, Qatar National Bank QNB


Qatar National Bank says Q1 net profit up 7% | ZAWYA MENA Edition

Qatar National Bank says Q1 net profit up 7% | ZAWYA MENA Edition:"Qatar National Bank (QNB), the largest bank in the Middle East and Africa by assets, reported a 7 percent increase in first-quarter net profit, propelled by a double-digit jump in loan growth.Net profit rose to 3.4 billion riyals ($933.9 million) for the three months to March 31.That was broadly in line with the forecasts of two analysts polled by Reuters. SICO Bahrain forecast the bank would make a net profit of 3.4 billion riya...
Tags: Travel, Africa, Middle East, Bahrain, Reuters, Qatar National Bank, EFG Hermes, Rupert Neil Bumfrey, Qatar National Bank QNB


MIDEAST STOCKS-Qatar rises again in early trade, Gulf markets soft

MIDEAST STOCKS-Qatar rises again in early trade, Gulf markets soft:"Qatar’s stock index kept rising on Tuesday after several blue-chip firms raised foreign ownership limits, though other Gulf markets were weak. The Qatar index lifted 0.2 percent in early trade, building on a 1.8-percent gain on Monday. Qatar Electricity and Water Co was up 1.1 percent after gaining 3.5 percent in the previous session and Industries Qatar was 1.4 percent higher while Qatar Islamic Bank rose 0.4 percent. The three...
Tags: Travel, Qatar, Gulf, Qatar Islamic Bank, Rupert Neil Bumfrey, Qatar National Bank QNB, Monday Qatar Electricity and Water Co


INTERVIEW-Qatar National Bank seeks growth in Southeast Asia | ZAWYA MENA Edition

INTERVIEW-Qatar National Bank seeks growth in Southeast Asia | ZAWYA MENA Edition:"Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told Reuters. QNB, the largest bank by assets in the Middle East and Africa, is active in Egypt and Turkey and has made forays into Singapore, Vietnam, Myanmar, India, Indonesia and China. "Our strategy and vision is to be...
Tags: Travel, China, Southeast Asia, Africa, Turkey, Egypt, Middle East, Middle East Africa, Qatar National Bank, Rupert Neil Bumfrey, Qatar National Bank QNB, Ali Ahmed al Kuwari, Reuters QNB, Singapore Vietnam Myanmar India Indonesia


Qatar National Bank to sell small stake in Egypt unit to comply with listing rules | ZAWYA MENA Edition

Qatar National Bank to sell small stake in Egypt unit to comply with listing rules | ZAWYA MENA Edition:"Qatar National Bank (QNB) QNBK.QA , the Middle East's largest lender by assets, said it will sell a 2 percent stake in its Egyptian unit QNB Alahly QNBA.CA to comply with Cairo listing rules. A QNB spokesman said the bank had no current plans to further reduce its stake, which will stand at 95 percent after the sale. The sale of the 2.125 percent stake is intended to comply with Egyptian stoc...
Tags: Travel, Egypt, Middle East, Cairo, Qatar National Bank, QNB, Rupert Neil Bumfrey, Qatar National Bank QNB, MENA Edition, QNB Alahly QNBA


UPDATE 1-Qatar National Bank Q4 profit rises 5.2 pct, below two forecasts

UPDATE 1-Qatar National Bank Q4 profit rises 5.2 pct, below two forecasts:"Qatar National Bank (QNB) , the Gulf’s largest lender, on Tuesday reported a 5.2 percent increase in fourth-quarter net profit, missing two analysts’ forecasts as provisions for bad loans jumped. The bank made a net profit of 2.85 billion riyals ($783 million) in the three months to Dec. 31, compared with 2.71 billion riyals in the corresponding period of 2016, Reuters calculated in the absence of a quarterly breakdown. S...
Tags: Travel, Gulf, Reuters, Qatar National Bank, EFG Hermes, Rupert Neil Bumfrey, SICO Bahrain, Qatar National Bank QNB


Qatar National Bank's 2017 loan growth to rise 12-14 pct -analysts

Qatar National Bank's 2017 loan growth to rise 12-14 pct -analysts:"Qatar National Bank (QNB), the largest lender in the Middle East and Africa by assets, expects loan growth of 12-14 percent this year, propelled by government infrastructure spending, analysts said after a call with QNB’s finance chief.The country’s banking sector has had to contend with fallout from a June decision by Saudi Arabia, the United Arab Emirates, Bahrain and Egypt to cut diplomatic and transport ties with Qatar, thou...
Tags: Travel, Saudi Arabia, Africa, Qatar, Egypt, Middle East, United Arab Emirates Bahrain, Qatar National Bank, QNB, Rupert Neil Bumfrey, Qatar National Bank QNB, Ramzi Mari


MIDEAST STOCKS-Banks boost Qatar in otherwise quiet region

MIDEAST STOCKS-Banks boost Qatar in otherwise quiet region:"Banking stocks boosted Qatar's equities market on Wednesday, with some share prices approaching levels last reached before the country's diplomatic crisis erupted in early June, while other bourses in the region were mostly quiet. The Qatar index advanced by 1.2 percent to 9,502 points, its highest finish since Saudi Arabia and other Arab states cut diplomatic and transport links with Doha on June 5. Wednesday's gain left the index only...
Tags: Travel, Saudi Arabia, Qatar, Doha, Rupert Neil Bumfrey, Qatar National Bank QNB


REFILE-UPDATE 1-Qatar National Bank to seek Saudi investment banking licence | Reuters

REFILE-UPDATE 1-Qatar National Bank to seek Saudi investment banking licence | Reuters:"Qatar National Bank (QNB) , the Middle East's biggest bank by assets, said on Thursday it planned to apply for an investment banking licence in Saudi Arabia, where low oil prices are expected to encourage more asset sales and debt raising. Riyadh is already planning to sell about 5 percent of state-owned Saudi Aramco through an initial public offer (IPO) of shares in 2018 that could value the oil giant at $2 ...
Tags: Travel, Saudi Arabia, Middle East, Reuters, Riyadh, Saudi Aramco, Qatar National Bank, Rupert Neil Bumfrey, Qatar National Bank QNB, QNB Group, Ali Ahmed al Kuwari


UPDATE 1-Strong loan growth lifts profit at Qatar National Bank | Reuters

UPDATE 1-Strong loan growth lifts profit at Qatar National Bank | Reuters:"Qatar National Bank (QNB) reported a 12 percent rise in first-quarter net profit on Tuesday, fuelled by double-digit loan growth after its takeover of Turkey's Finansbank. The 2.7 billion euro ($2.86 billion) acquisition completed in June helped to secure QNB's position as the largest lender in the Middle East and Africa by assets, but it also exposed the bank to soured loans in Turkey after the economy wobbled in the wak...
Tags: Travel, Africa, Turkey, Middle East, Qatar National Bank, QNB, Rupert Neil Bumfrey, Qatar National Bank QNB


Qatar National Bank seeks growth in SE Asia after Q4 profit rises | GulfNews.com

Qatar National Bank seeks growth in SE Asia after Q4 profit rises | GulfNews.com:"Qatar National Bank (QNB) is broadening its horizons in Southeast Asia after the Gulf’s largest lender reported a 8.3 per cent rise in fourth-quarter net profit, according to Reuters calculations.It follows a year in which the bank cemented its position as the largest lender in the Middle East and Africa by assets after completing the 2.7 billion euro purchase of Finansbank, Turkey’s fifth-largest private lender.Th...
Tags: Travel, Asia, Southeast Asia, Africa, Middle East, Gulf, Reuters, Qatar National Bank, Rupert Neil Bumfrey, Qatar National Bank QNB


Qatar budget back to ‘near balance’ by 2018 | GulfNews.com

Qatar budget back to ‘near balance’ by 2018 | GulfNews.com:"Qatar’s budget should be back to “near balance” by 2018, as it overcomes the shock waves from a global fall in energy prices, economists at Qatar National Bank (QNB) have forecast.The QNB, in its Qatar Economic Insight report, predicts that rising oil prices and the introduction of a value-added tax will help Qatar recover from the deficits expected in 2016 and 2017.“The government’s budget balance is expected to register a deficit of 5...
Tags: Travel, Qatar, QNB, Rupert Neil Bumfrey, Qatar National Bank QNB



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