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MIDEAST STOCKS Most Gulf indexes rise in early trade; #AbuDhabi falls | Reuters

MIDEAST STOCKS Most Gulf indexes rise in early trade; Abu Dhabi falls | Reuters Most major Gulf stock markets rose in early trade on Thursday amid rising oil prices, with the Saudi index on track for a third straight weekly gain.Oil prices reversed previous losses as a bigger-than-expected draw in U.S. gasoline and distillate stocks prompted buying.The uptick was also supported by expectations that soaring natural gas prices as winter approaches will drive a switch to oil to meet heating deman...
Tags: Travel, Saudi Arabia, Wam, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Fitch Ratings, Tasi, Rupert Neil Bumfrey, Abudhabi, First Abu Dhabi Bank FAB, Yanbu National Petrochemicals Co, Emirates NBD Bank ENBD, Qatar National Bank QNBK QA


#UAE Approves Four-Year Federal Budget Focused on Social Spending - Bloomberg

UAE Approves Four-Year Federal Budget Focused on Social Spending - Bloomberg The United Arab Emirates approved its federal budget to 2026 and focused most of next year’s spending on social benefits and development. The Gulf country approved a total of 58.9 billion dirhams ($16 billion) of spending in 2022, nearly the same as last year. Most of the spending is going to development and social benefits, according to the state-run WAM news agency. Nearly 16% will go to higher education, 6% to soc...
Tags: Travel, Wam, United Arab Emirates, Dubai, Uae, Gulf, Fitch, Rupert Neil Bumfrey, Moody 's Investors Service, Social Spending Bloomberg, Ras Al Khaimah During


MIDEAST STOCKS Most Gulf bourses rise as oil prices gain on tight supply | Reuters

MIDEAST STOCKS Most Gulf bourses rise as oil prices gain on tight supply | Reuters Most stock markets in the Gulf rose on Thursday as oil prices gained on growing fuel demand and a bigger-than-expected draw in U.S. crude inventories, although the Abu Dhabi index bucked the trend to trade lower.The oil market was also supported by a return of appetite for risk assets as concerns eased over a potential default by property developer China Evergrande (3333.HK) and its possible fallout on the world...
Tags: Travel, China, Wam, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Adi, DAMAC Properties, Rupert Neil Bumfrey, Industries Qatar, QSI, Reuters Most, China Evergrande, Emaar Properties EMAR


#Saudi, #UAE Leaders Hold Talks as Regional Competition Heats Up - Bloomberg

Saudi, UAE Leaders Hold Talks as Regional Competition Heats Up - Bloomberg The defacto rulers of Saudi Arabia and the United Arab Emirates held talks late Monday, days after the UAE unveiled plans to deepen trade ties with fast-growing economies mainly outside the Middle East.Saudi Crown Prince Mohammed bin Salman called his Abu Dhabi counterpart Sheikh Mohammed bin Zayed Al Nahyan and discussed “the prospects of further consolidating the strategic cooperation” between the countries, the UAE’s...
Tags: Travel, Asia, Saudi Arabia, Wam, Africa, Bloomberg, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Uae, Mohammed, Riyadh, Mohammed bin Salman, Rupert Neil Bumfrey, Sheikh Mohammed bin Zayed al Nahyan


#UAE Opens Up Travel to All Vaccinated People, Boosting Tourism - Bloomberg

UAE Opens Up Travel to All Vaccinated People, Boosting Tourism - Bloomberg The United Arab Emirates will open up tourist visa applications to everyone who has been vaccinated with one of the shots approved by the World Health Organization, a potential boost to the country’s key tourism sector.The decision applies to citizens of all countries, including those arriving from previously banned nations, state-run WAM reported late on Saturday. The move is part of the country’s strategy to support “...
Tags: Travel, Wam, United Arab Emirates, World Health Organization, Rupert Neil Bumfrey, All Vaccinated People Boosting Tourism Bloomberg


MIDEAST STOCKS #Saudi index leads most Gulf bourses higher | Reuters

Most stocks in the Gulf region rose in early trade on Sunday, with the Saudi index leading the way while Qatar bucked the trend with a 0.2% decline.Saudi Arabia's benchmark index (.TASI) gained 0.3% as Al Rajhi Bank (1120.SE) rose by 0.8% and Saudi National Bank (1180.SE), the kingdom's biggest lender, adavnced by 0.3%.Brent crude oil futures rose $1.63, or 2.3%, to settle at $72.70 a barrel on Friday for the biggest weekly gain in more than a year as energy companies began shutting U.S. product...
Tags: Travel, Saudi Arabia, Wam, Qatar, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Gulf of Mexico, Gulf, Reuters, Qatar National Bank, Emaar, Tasi, Rupert Neil Bumfrey, Al Rajhi Bank


#UAE Royal Visits #Qatar for First Time Since 3-Year Boycott Ended - Bloomberg

UAE Royal Visits Qatar for First Time Since 3-Year Boycott Ended - Bloomberg A senior United Arab Emirates royal visited Qatar to meet with its emir, the first high-level engagement between the ruling families since the end of a bitter three-year dispute that cut Doha off from many of its neighbors. Sheikh Tahnoun bin Zayed Al Nahyan, UAE national security adviser, led the delegation to Qatar that included talks with ruler Sheikh Tamim bin Hamad Al Thani, the UAE’s state-run WAM news agency re...
Tags: Travel, Wam, Qatar, Bloomberg, Turkey, Iran, Afghanistan, Taliban, United Arab Emirates, Doha, Uae, Gulf, Sheikh Tamim Bin Hamad Al Thani, Rupert Neil Bumfrey, Tahnoun bin Zayed al Nahyan, Sheikh Tahnoun


#UAE Opens 10-Year ‘Golden Visa’ Scheme to All Resident Doctors - Bloomberg

UAE Opens 10-Year ‘Golden Visa’ Scheme to All Resident Doctors - Bloomberg The United Arab Emirates will allow all resident doctors to apply for so-called “golden visas,” a 10-year permit covering specialized sectors including science, innovation and health care.Doctors licensed by UAE health regulators can apply before September 2022, state-run news agency WAM reported Wednesday.The long-term visa allows foreigners to work, live and study without needing an Emirati sponsor. Expat residents ma...
Tags: Travel, Wam, United Arab Emirates, Uae, Rupert Neil Bumfrey


#UAE Central Bank plans to roll out digital currency | ZAWYA MENA Edition

UAE Central Bank plans to roll out digital currency | ZAWYA MENA Edition The UAE central bank is planning to roll out a digital currency as part of its 2023-2026 strategy, according to state news agency WAM.Jurisdictions like ADGM and DIFC have introduced crypto regulations, and last year, the central bank had rolled out a virtual asset scheme. When a central bank introduces a digital currency it is expected to support the industry as assets will back it.The WAM report said the strategy includ...
Tags: Travel, Wam, Ubs, Uae, UAE Central Bank, Rupert Neil Bumfrey, Securities and Commodities Authority SCA, ADGM, Central Bank of UAE, WAM Jurisdictions


#UAE proposes postponing decision to extend OPEC+ pact, WAM says | Reuters

UAE proposes postponing decision to extend OPEC+ pact, WAM says | Reuters The United Arab Emirates on Sunday said it supported an increase in oil output from August but suggested deferring to another meeting a decision by OPEC+ on extending its global oil supply pact beyond April 2022, state news agency WAM reported.The Organization of the Petroleum Exporting Countries and its allies, a group, known as OPEC+, will resume talks on Monday after failing to reach a deal on oil output policy for a ...
Tags: Travel, Saudi Arabia, Wam, Opec, United Arab Emirates, Uae, Reuters, Petroleum Exporting Countries, Rupert Neil Bumfrey


#Dubai outperforms subdued Gulf markets | Reuters

Dubai outperforms subdued Gulf markets | Reuters Dubai’s stock index was buoyed by gains in property shares in early trade on Thursday, while most other equity markets in the Gulf were subdued in the absence of fresh factors to trade on.Dubai house prices will rise for the first time in six years this year, supported by a swift vaccine rollout that has lifted hopes for an overall economic recovery, according to a Reuters poll of property analysts.In Dubai, the main share index gained 1.2%, wit...
Tags: Travel, Saudi Arabia, Wam, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Emaar Properties, Rupert Neil Bumfrey, Industries Qatar, Saudi Basic Industries, Dubai Islamic Bank, Emaar Malls


#UAE to allow 100% foreign ownership of companies in June - WAM | Reuters

UAE to allow 100% foreign ownership of companies in June - WAM | Reuters Foreigners opening a company in the United Arab Emirates will no longer need an Emirati shareholder or agent under changes to UAE company law that will go into effect on June 1, state news agency WAM reported on Wednesday."The amended Commercial Companies Law aims at boosting the country's competitive edge and is a part of UAE government efforts to facilitate doing business," Minister of Economy Abdulla bin Touq Al Marri ...
Tags: Travel, Wam, United Arab Emirates, Uae, Gulf, Rupert Neil Bumfrey, Abdulla Bin Touq Al Marri


#UAE attracts foreign investments of $20 billion in 2020 | Reuters

UAE attracts foreign investments of $20 billion in 2020 | Reuters Foreign direct investment (FDI) into the United Arab Emirates rose to $19.88 billion in 2020, up 44.2% from the previous year, the government said on Saturday.Contributing to this figure were large deals carried out by the state-run Abu Dhabi National Oil Co (ADNOC), state news agency WAM said, without giving any further details.Economy minister Abdullah al-Marri said the UAE would move forward with initiatives to increase the e...
Tags: Travel, Wam, United Arab Emirates, Uae, Reuters, Abu Dhabi National Oil Co ADNOC, Rupert Neil Bumfrey, Abdullah al Marri


#UAE reviews plans to launch federal gold trading platform | The National

UAE reviews plans to launch federal gold trading platform | The National Gold topped the list of commodities in Dubai's 2020 external trade at Dh213 billion Reuters The UAE is reviewing plans to launch a federal platform for gold trading to strengthen the country’s role in the global gold and jewellery market.Technical plans for the platform and for establishing a comprehensive database of all of the main players in the country's gold industry were reviewed at a meeting of the Emir...
Tags: Travel, Wam, Dubai, Uae, Reuters, Rupert Neil Bumfrey, National Gold, Emirates Gold Bullion Committee, Al Zeyoudi


#UAE central bank extends $13.6 billion stimulus measure until end of the year - WAM | Reuters

UAE central bank extends $13.6 billion stimulus measure until end of the year - WAM | ReutersThe United Arab Emirates central bank decided to extend until the end of this year a 50 billion dirhams ($13.6 billion) facility introduced to help banks and financial companies, state news agency WAM said on Wednesday.The “zero cost funding support facility” was one of a series of stimulus measures introduced last year by the UAE central bank to contain the impact of the coronavirus crisis on the econom...
Tags: Travel, Wam, Uae, Rupert Neil Bumfrey, ReutersThe United Arab Emirates


MIDEAST STOCKS-Major Gulf markets end mixed; #AbuDhabi snaps winning streak | Nasdaq

MIDEAST STOCKS-Major Gulf markets end mixed; Abu Dhabi snaps winning streak | NasdaqMajor stock markets in the Gulf ended mixed on Wednesday, with the Abu Dhabi index ending its run of gains, while Saudi Arabia was lifted by its financial shares.The Saudi benchmark index .TASI rose 0.3%, helped by a 5.7% gain in Banque Saudi Fransi 1050.SE and a 3.3% increase in Dr Sulaiman Al-Habib Medical Services 4013.SE.However, petrochemical firm Saudi Basic Industries Corp (SABIC) 2010.SE eased 0.3%.SABIC ...
Tags: Travel, Saudi Arabia, Wam, Qatar, Hsbc, United Arab Emirates, Dubai, Abu Dhabi, Morgan Stanley, Uae, Gulf, Reuters, Adi, SABIC, Tasi, Rupert Neil Bumfrey


#UAE Appoints Veteran Al Tameemi as Central Bank Governor - Bloomberg

UAE Appoints Veteran Al Tameemi as Central Bank Governor - BloombergThe United Arab Emirates appointed financial services veteran Khaled Mohammed Al Tameemi as the Gulf nation’s central bank governor as it plots a way out of the pandemic-driven economic downturn.Al Tameemi, who has worked in banking and financial services for more than three decades, previously held the central bank’s vice chairman post. He was previously a board member at the General Pension and Social Security Authority, and a...
Tags: Travel, Wam, United Arab Emirates, International Monetary Fund, Uae, Gulf, Central Bank, U S Federal Reserve, Arab Gulf, Rupert Neil Bumfrey, BloombergThe, Abu Dhabi Investment Council, Abdulhamid Saeed Alahmadi, Al Tameemi, Central Bank Governor Bloomberg, Khaled Mohammed Al Tameemi


Most major Gulf markets gain; #Qatar eases | Reuters

Most major Gulf markets gain; Qatar eases | ReutersMost major stock markets rose in early trade on Monday, with Abu Dhabi index leading the gains, although Qatar traded lower.Saudi Arabia’s benchmark index rose 0.2%, with Al Rajhi Bank gaining 0.2%, while Saudi Arabian Mining Company advanced 1.2%.Saudi Arabia increased the price of its Arab light crude for the Asian market by $0.4/barrel in May, compared to April, and lowered those for the U.S. and European markets by $0.1/barrel and $0.2/barre...
Tags: Travel, Saudi Arabia, Iraq, Wam, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Aramex, Qatar National Bank, Qatar Islamic Bank, Mustafa al Kadhimi, Rupert Neil Bumfrey


#UAE to invest $10 billion with Indonesia's sovereign wealth fund | Reuters

UAE to invest $10 billion with Indonesia's sovereign wealth fund | ReutersThe United Arab Emirates will invest $10 billion with Indonesia’s state fund, the Indonesia Investment Authority, to be spent on projects inside the Southeast Asian country, the UAE state news agency reported on Tuesday.The investment will be used for infrastructure projects, including roads and ports, and also tourism, agriculture and other “strategic sectors”, WAM reported. [Author: [email protected] (Rupert Neil B...
Tags: Travel, Indonesia, Wam, United Arab Emirates, Uae, Reuters, Rupert Neil Bumfrey, Indonesia Investment Authority


#Dubai leads most of Gulf higher; Saudi index dips | Reuters

Dubai leads most of Gulf higher; Saudi index dips | ReutersStock markets in the United Arab Emirates ended higher on Thursday, on the back of financials and energy shares, while the Saudi index ended a four-day winning streak.Dubai’s main share index advanced 1%, with its largest lender Emirates NBD rising 2.6%, while sharia-compliant lender Dubai Islamic Bank closed 1.5% higher.Elsewhere, Dubai Investments rose 3.4% after announcing a 8% cash dividend for the year 2020.In Abu Dhabi, the index a...
Tags: Travel, Saudi Arabia, Wam, Israel, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Emirates NBD, Dana Gas, Rupert Neil Bumfrey, Industries Qatar, Dubai Islamic Bank, Al Rajhi Bank, First Abu Dhabi Bank


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


Most Gulf markets fall; #AbuDhabi gains | Reuters

Most Gulf markets fall; Abu Dhabi gains | Reuters Most Gulf markets ended in the red on Thursday, with the Saudi index pressured by losses in its banking shares.Saudi Arabia’s benchmark index ended the session down 0.7%, but was still up 0.9% on the week.Al Rajhi Bank dropped 0.7%, while the kingdom’s largest lender National Commercial Bank retreated 1.9%.Crude oil exports in Saudi Arabia, the world’s largest oil exporter, rose for a sixth straight month to an eight-month peak in December 2020, ...
Tags: Travel, Saudi Arabia, Wam, United Arab Emirates, Dubai, Abu Dhabi, Boeing, Gulf, Reuters, Emirates NBD, Qatar National Bank, Oct, Qatar Islamic Bank, Rupert Neil Bumfrey, Aldar Properties, National Commercial Bank


MIDEAST STOCKS-Gulf markets little changed in early trade | Nasdaq

MIDEAST STOCKS-Gulf markets little changed in early trade | Nasdaq Major Gulf stock markets were little changed early on Thursday, with the Dubai index slipping slightly on declines among Industrial and financial stocks.Saudi Arabia's benchmark index .TASI rose 0.1%, with Saudi Arabian Mining Company 1211.SE gaining 2.6% and petrochemical firm Saudi Basic Industries 2010.SE increasing 0.6%.Saudi Arabia's crude oil exports rose for a sixth straight month to an eight-month peak in December 2020, o...
Tags: Travel, Saudi Arabia, Wam, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Boeing, Gulf, Joint Organisations Data Initiative, Emirati, Commercial Bank, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries, QSI


#UAE- #Qatar ties: All land, sea and air ports to reopen January 9 | ZAWYA MENA Edition

UAE-Qatar ties: All land, sea and air ports to reopen January 9 | ZAWYA MENA Edition The UAE will reopen air, land and sea borders with Qatar starting Saturday, state news agency, Wam announced.In a statement issued on Friday, Khalid Abdullah Belhoul, Undersecretary of the Ministry of Foreign Affairs and International Cooperation, said the UAE will hold bilateral talks to phase out the boycott in effect against Qatar since June 5, 2017. This follows the signing of the Al Ula Declaration on Tuesd...
Tags: Travel, Saudi Arabia, Wam, Qatar, GCC, Uae, Gulf, Rupert Neil Bumfrey, Anwar Gargash, UAE Qatar, Gargash, Khalid Abdullah Belhoul Undersecretary


Major Gulf markets little changed; #Dubai ends winning streak | Reuters

Major Gulf markets little changed; Dubai ends winning streak | Reuters Major stock markets in the Gulf were little changed on Sunday in the absence of new catalysts to encourage buying, with Dubai closing flat after six days of rises.Saudi Arabia’s benchmark index was flat, with Jabal Omar Development rising 4.1%, snapping three sessions of losses.Dubai’s main share index traded flat, with its largest lender Emirates NBD Bank falling 0.9%.The Abu Dhabi index gained 0.6%, with the country’s large...
Tags: Travel, Saudi Arabia, Wam, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Reuters Major, Qatar National Bank, Rupert Neil Bumfrey, Industries Qatar, Jabal Omar Development, First Abu Dhabi Bank, Major Gulf


#UAE, #Israel export credit agencies sign agreement to boost trade | Reuters

UAE, Israel export credit agencies sign agreement to boost trade | Reuters The export credit agencies of the United Arab Emirates (UAE) and Israel have signed a cooperation agreement to develop economic relations between the two countries, the UAE’s state news agency WAM said.Etihad Credit Insurance and the Israel Foreign Trade Risks Insurance Corporation (ASHR’A) plan to support jointly exports, trade, and investment between the two countries, WAM said.Since the UAE and Israel agreed to normali...
Tags: Travel, Wam, Israel, Uae, Reuters, United Arab Emirates UAE, Rupert Neil Bumfrey, UAE Israel, Etihad Credit Insurance


#UAE, #Israel Start Talks on Energy Cooperation as Ties Normalize - Bloomberg

UAE, Israel Start Talks on Energy Cooperation as Ties Normalize - Bloomberg Israel and the United Arab Emirates held talks to discuss cooperation in the oil and gas sector, months after the two nations agreed to normalize ties.OPEC’s third-largest oil producer and Israel held their first natural gas and petroleum working group meeting, UAE’s state-run WAM news agency reported on Thursday.The countries discussed ways to develop bilateral relations and cooperation in energy, petroleum and natural ...
Tags: Travel, Wam, Israel, Opec, United Arab Emirates, Uae, Mediterranean, Red Sea, Rupert Neil Bumfrey, Abu Dhabi National Oil Company


#AbuDhabi Plans $122 Billion in Oil Spending to Boost Output - Bloomberg

Abu Dhabi Plans $122 Billion in Oil Spending to Boost Output - Bloomberg Abu Dhabi will invest 448 billion dirhams ($122 billion) in oil and natural gas over the next five years as it seeks to raise production capacity, even while OPEC restricts its output.The Gulf emirate’s top body for energy policy, the Supreme Petroleum Council, approved the budget for Abu Dhabi National Oil Co., the state-run WAM news agency reported on Sunday. The investment plan will contribute to growth and expansion “in...
Tags: Travel, Wam, Opec, Bloomberg, United Arab Emirates, Abu Dhabi, Uae, Gulf, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Supreme Petroleum Council, Bloomberg Abu Dhabi


Mideast Stocks- Most major stocks rise in Mideast | ZAWYA MENA Edition

Mideast Stocks- Most major stocks rise in Mideast | ZAWYA MENA Edition Most major stock markets in the Middle East ended higher on Sunday, with Saudi leading gains on a rise in financial shares, while Egypt bucked the trend to close lower.By Thursday major Gulf markets had logged weekly gains following positive developments in a COVID-19 vaccine, which boosted hopes of a faster-than-expected global economic recovery.Saudi Arabia's benchmark index increased 0.8% on Sunday, with Al Rajhi Bank1120....
Tags: Travel, Saudi Arabia, Wam, Qatar, Egypt, Middle East, United Arab Emirates, Uae, Gulf, Reuters, Mideast, Dana Gas, Qatar National Bank, Rupert Neil Bumfrey, Al Rajhi, Saudi Electricity


Most major Gulf markets rise; #Qatar shares fall | Reuters

Most major Gulf markets rise; Qatar shares fall | Reuters Most major stock markets in the Gulf traded higher early on Sunday, largely on the back of gains in finance industry shares, while the Qatari index was down, bucking the firmer trend.Saudi Arabia's benchmark index .TASI rose 0.5%, led by a 4.7% jump in utility company Saudi Electricity 5110.SE and a 0.4% increase in Al Rajah Bank 1120.SE.On Thursday, major Gulf markets had logged weekly gains following positive developments in a COVID-19 ...
Tags: Travel, Saudi Arabia, Wam, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, United Arab Emirates UAE, Qatar National Bank, Tasi, Rupert Neil Bumfrey, QSI, Reuters Most, DFMGI, Emaar Properties EMAR DU



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