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Mideast Stocks Head Warily Into May After April Gains: Inside EM - Bloomberg

Mideast Stocks Head Warily Into May After April Gains: Inside EM - Bloomberg Middle East stock markets were mixed as investors looked for direction on the first trading day of the month following gains in April.The main indexes in Kuwait, Oman and Dubai each rose 0.7% on Sunday, while the gauge in Abu Dhabi added 0.5%. Saudi Arabia’s Tadawul All Share Index led losses with a 0.5% retreat. Qatari and Israeli markets were little changed. Trading in Bahrain and Egypt was closed for holidays.Thoug...
Tags: Travel, Saudi Arabia, Opec, Qatar, Bloomberg, Egypt, Dubai, Abu Dhabi, Bahrain, Gulf, Riyadh, Mohammed bin Salman, Rupert Neil Bumfrey, Dubai Islamic Bank, Al Rajhi, Jabal Omar Development


#SaudiArabia's Al Rajhi Bank reports 40% increase in Q1 | ZAWYA MENA Edition

Saudi Arabia's Al Rajhi Bank reports 40% increase in Q1 | ZAWYA MENA Edition Al Rajhi Bank, Saudi Arabia's second-largest lender by assets, reported a 40.1 % rise in net profit, boosted by an increase in financing and investment income.Saudi Arabia's biggest Islamic lender said net profit in the three months ended March 31 to 3.34 billion riyals ($890.60 million). It made net profit of 2.38 billion riyals in the same period year earlier.Al Rajhi, which has traditionally focused on consumer banki...
Tags: Travel, Saudi Arabia, Rupert Neil Bumfrey, Al Rajhi, Al Rajhi Bank, MENA Edition Al Rajhi Bank Saudi Arabia


Q4 forecasts: #Saudi's SABIC to post 50% rise in net profit, Al Rajhi earnings to surge | ZAWYA MENA Edition

Q4 forecasts: Saudi's SABIC to post 50% rise in net profit, Al Rajhi earnings to surge | ZAWYA MENA Edition Petrochemicals giant Saudi Basic Industries Corporation (SABIC) is forecast to make 1.6 billion Saudi riyals ($426.5 million) in net profit for the fourth quarter of 2020, nearly 50 percent higher compared to the previous quarter, according to NCB Capital.The petrochemicals giant made a loss of 725 million riyals during the last quarter of 2019.Its affiliate, Yanbu National Petrochemical ...
Tags: Travel, Saudi Arabia, SABIC, NCB, Rupert Neil Bumfrey, Al Rajhi, Banque Saudi Fransi, Al Rajhi Bank, Saudi Basic Industries Corporation Sabic, Yanbu National Petrochemical Company Yansab


Major markets finish stronger on higher oil prices | Reuters

Major markets finish stronger on higher oil prices | Reuters Major Gulf markets ended higher on Wednesday on higher oil prices as a weakening dollar and progress on the rollout of COVID-19 vaccines helped crude climb above $51 a barrel.The positive sentiment was also aided by U.S. congressional leaders expressing optimism about a stimulus deal.Brent crude futures rose 25 cents, or 0.5%, to $51.01 a barrel by 1017 GMT, but the gains were capped by a surprise gain in U.S. crude inventories and tig...
Tags: Travel, Europe, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, Emirates NBD, Etisalat, Qatar National Bank, Qatar Islamic Bank, DAMAC Properties, Rupert Neil Bumfrey, Al Rajhi, First Abu Dhabi Bank


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


#Saudi's Al Rajhi Bank reports 3% drop in third-quarter profit, impairments up | Reuters

Saudi's Al Rajhi Bank reports 3% drop in third-quarter profit, impairments up | ReutersAl Rajhi Bank 1120.SE, Saudi Arabia's second-largest lender by assets, reported a 3% drop in third-quarter net profit on Sunday, but beat analysts' forecasts.The bank made 2.66 billion riyals ($709.28 million) in the three months to Sept. 30, down from 2.74 billion riyals in the same period a year earlier, it said in a bourse statement.Analysts had forecast a net profit of 2.39 billion riyals, according to Ref...
Tags: Travel, Saudi Arabia, Reuters, Rupert Neil Bumfrey, Al Rajhi, Al Rajhi Bank, ReutersAl Rajhi Bank


MIDEAST STOCKS- #Qatar leads major Gulf markets higher in early trade | Nasdaq

:Major stock markets in the Gulf rose in early trade on Monday, led by gains in financial shares, with Qatar outperforming the region on broad based gains.Saudi Arabia's benchmark index .TASI gained 0.6%, led by a 1.9% increase in Banque Saudi Fransi 1050.SE and a 0.3% gain in Al Rajhi Bnnk 1120.SEFrench lender Credit Agricole CAGR.PA sold its stake in Banque Saudi Fransi for 1.4 billion riyals ($373.27 million), Bloomberg News reported on Sunday, citing an unnamed person familiar with the matte...
Tags: Travel, Saudi Arabia, Qatar, Morocco, Dubai, Abu Dhabi, Gulf, Reuters, Bloomberg News, Moody, Tasi, Rupert Neil Bumfrey, Al Rajhi, Banque Saudi Fransi, Qatar National Bank QNBK, Dubai Islamic Bank DISB DU


Exclusive: #Saudi banks may suspend dividend payouts for H1 2020 | ZAWYA MENA Edition

Exclusive: Saudi banks may suspend dividend payouts for H1 2020 | ZAWYA MENA Edition:Earnings calls this week revealed that Saudi Arabia’s listed banks may withhold dividends for the first half of 2020.Although some banks like Al Rajhi and Banque Saudi Fransi, which had their earnings calls on Monday, made no direct mention of withholding dividends, they indicated as much.“Banks stated that while they were not given direct instructions to hold H1 dividends, they were asked by SAMA [the Saudi Ara...
Tags: Travel, Saudi Arabia, Egypt, Rupert Neil Bumfrey, CI Capital, Al Rajhi, Banque Saudi Fransi, Saudi Arabian Monetary Authority


Banks Drag #Saudi Stocks Down by Most This Year Ahead of Ramadan - Bloomberg

Banks Drag Saudi Stocks Down by Most This Year Ahead of Ramadan - Bloomberg:Saudi Arabian stocks fell the most since December as investors locked in gains ahead of the holy month of Ramadan, when trading volumes in the kingdom typically decline.Al Rajhi Bank and National Commercial Bank, which account for about a quarter of the index, were the biggest contributors to the Tadawul All Share Index’s 1.7 percent loss. About 160 stocks retreated as of 12:18 p.m. in Riyadh, the most on a closing basis...
Tags: Travel, Riyadh, Rupert Neil Bumfrey, Riyad Capital, Al Rajhi, National Commercial Bank, Al Rajhi Bank, Muhammad Faisal Potrik, Ramadan Bloomberg


Mideast Stocks: Banks bolster #Saudi, financials pull down #AbuDhabi | ZAWYA MENA Edition

Mideast Stocks: Banks bolster Saudi, financials pull down Abu Dhabi | ZAWYA MENA Edition:Saudi Arabian stocks rose in early trading on Wednesday as banks gained, while Abu Dhabi was weighed down by financial stocks.Saudi Arabia's index rose 0.6 percent with its biggest petrochemical maker, Saudi Basic Industries Corp, adding 1 percent.Al Rajhi Bank gained 0.8 percent. The Capital Market Authority has approved a capital increase at the bank, which is currently capitalised at 16.25 billion riyals ...
Tags: Travel, Saudi Arabia, Abu Dhabi, Saudi Basic Industries Corp, Rupert Neil Bumfrey, Al Rajhi, Capital Market Authority, Al Rajhi Bank


#Saudi bank Al Rajhi in merger talks for its Malaysian unit with another lender - The National

Saudi bank Al Rajhi in merger talks for its Malaysian unit with another lender - The National:Al Rajhi Bank, Saudi Arabia’s second-largest lender by assets, said it is in talks for a potential merger of its fully owned subsidiary in Malaysia with a state-backed financial institution in the Asian country.The possibility of combining the balance sheets of Al Rajhi Banking & Investment Corporation Malaysia and Malaysian Industrial Development Finance (MIDF) are at early stages, the Saudi lender sai...
Tags: Travel, Malaysia, Rupert Neil Bumfrey, Al Rajhi, Bank Negara, Saudi Arabian Monetary Authority, Al Rajhi Bank Saudi Arabia, Al Rajhi Banking Investment Corporation Malaysia, Malaysian Industrial Development Finance MIDF


Al-Attiyah regains Dakar lead on drama-filled 3rd stage

LIMA, Peru (AP) — Dakar Rally great Stephane Peterhansel won a drama-filled third stage on Wednesday in which defending champion Carlos Sainz and overnight leader Giniel de Villiers got stuck in the dunes and lost major time. The overall lead changed back to opening-stage winner Nasser Al-Attiyah. Only Razeed Al Rajhi and Peterhansel were within […]
Tags: News, Sports, Dakar, Stéphane Peterhansel, Peterhansel, Nasser Al Attiyah, Carlos Sainz, Al Attiyah, LIMA Peru, Al Rajhi, Giniel de Villiers


Mideast Stocks -Saudi rebounds on move to support oil; ADIB soars on ownership ceiling | ZAWYA MENA Edition

Mideast Stocks -Saudi rebounds on move to support oil; ADIB soars on ownership ceiling | ZAWYA MENA Edition:Saudi Arabia's stock market rebounded in early trade on Monday after three days of falls, buoyed by news that Riyadh planned to reduce oil supply in order to support crude prices. Abu Dhabi Islamic Bank soared on news it would let foreigners buy its shares.The Saudi index rose 0.6 percent in the first 90 minutes. The energy minister said late on Sunday that Saudi Arabia would reduce oil su...
Tags: Travel, Saudi Arabia, Riyadh, Rupert Neil Bumfrey, Abu Dhabi Islamic Bank, Al Rajhi, Saudi Kayan, ADIB, Al Rajhi Bank, Saudi Kayan Petrochemical


MIDEAST STOCKS-New labour minister boosts Saudi market, Emaar lifts Dubai | Reuters

MIDEAST STOCKS-New labour minister boosts Saudi market, Emaar lifts Dubai | Reuters:"The Saudi stock market jumped on Sunday after the weekend appointment of a prominent businessman as labour minister, a move widely welcome by the private sector. Ahmed bin Suleiman al-Rajhi is expected to create a friendlier business environment, enhance communication between the public and the private sectors and help support small and medium enterprises, economists said. The Saudi exchange closed up 2 percent,...
Tags: Travel, Dubai, Reuters, Emaar, Rupert Neil Bumfrey, Al Rajhi, Samba Financial Group, Al Rajhi Bank, Ahmed bin Suleiman al Rajhi


Saudi Bank Pegs Growth Hopes on Mortgages, Women Buying Cars - Bloomberg

Saudi Bank Pegs Growth Hopes on Mortgages, Women Buying Cars - Bloomberg:"Saudi Arabia’s second-biggest bank is betting that government efforts to develop the entertainment industry, boost home-ownership and open up the role of women in the economy will fuel growth this year. The kingdom is undergoing an economic overhaul driven by Crown Prince Mohammed bin Salman that includes removing restrictions on cinemas, concerts and women driving and working. It also plans to subsidize home loans to expa...
Tags: Travel, Saudi Arabia, Mohammed bin Salman, Rupert Neil Bumfrey, Al Rajhi, Al Rajhi Bank, Saudi Bank Pegs Growth Hopes, Steve Bertamini


MIDEAST STOCKS-Saudi outperforms region again before FTSE index decision

MIDEAST STOCKS-Saudi outperforms region again before FTSE index decision:"Saudi Arabia’s stock market climbed to a 31-month high on Tuesday, once again outperforming the rest of the region in anticipation of a positive decision by FTSE on Wednesday to include the kingdom in its secondary emerging markets index. The Saudi index rose 1.1 percent, bringing its gain so far this year to 9.9 percent. A positive decision by FTSE after the close on Wednesday would attract several billion dollars of pass...
Tags: Travel, Saudi Arabia, SABIC, Rupert Neil Bumfrey, Al Rajhi, National Commercial Bank, Al Rajhi Bank


MIDEAST STOCKS-Milaha boosts Qatar before index entry, Al Rajhi pulls down Saudi

MIDEAST STOCKS-Milaha boosts Qatar before index entry, Al Rajhi pulls down Saudi:"A surge by Qatar Navigation (Milaha) lifted the Qatari equity index on Thursday ahead of the stock’s entry into FTSE indexes, while profit-taking in Al Rajhi Bank pulled down Riyadh.Qatar’s index climbed 1.1 percent as Milaha added 4.0 percent in unusually heavy trade. The stock will join FTSE’s All-World and AllCap indexes after the close on Thursday, and this triggered inflows from passive funds.Qatar Insurance, ...
Tags: Travel, Qatar, Ftse, Rupert Neil Bumfrey, Al Rajhi, Al Rajhi Bank, Milaha, Qatar Navigation Milaha, Qatar Insurance, Riyadh Qatar


Mideast Stocks: Most major Gulf bourses edge up, Shuaa continues slide in Dubai | ZAWYA MENA Edition

Mideast Stocks: Most major Gulf bourses edge up, Shuaa continues slide in Dubai | ZAWYA MENA Edition:"Most major Gulf stock markets edged up in early trade on Sunday although Dubai fell, partly because of a continued slide in Shuaa Capital SHUA.DU . The Saudi index was up 0.5 percent after 55 minutes with blue-chip bank Al Rajhi gaining 0.9 percent. National Medical Care Co rose 1.3 percent after proposing to resume dividend payments for 2017. But Buruj Cooperative Insurance sank 6.3 percent aft...
Tags: Travel, Dubai, Gulf, Mideast, Rupert Neil Bumfrey, Al Rajhi, Shuaa, Buruj Cooperative Insurance, National Medical Care Co, Shuaa Capital SHUA


MIDEAST STOCKS-Saudi rebounds, rest of region sluggish | ZAWYA MENA Edition

MIDEAST STOCKS-Saudi rebounds, rest of region sluggish | ZAWYA MENA Edition:"Saudi Arabia's stock market rebounded on Monday as global equities and oil prices regained some strength after last week's tumble, but other Gulf bourses moved little, with Qatar's index restrained by its biggest bank going ex-dividend. The Saudi index climbed 0.8 percent in the first 25 minutes as petrochemical blue chip Saudi Basic Industries added 1.1 percent and Al Rajhi bank gained 1.6 percent. Trade Union Cooperat...
Tags: Travel, Saudi Arabia, Qatar, Gulf, Rupert Neil Bumfrey, Saudi Basic Industries, Al Rajhi, Trade Union Cooperative Insurance, Salama Cooperative Insurance


Al Rajhi Capital launches largest REIT IPO in Saudi Arabia | ZAWYA MENA Edition

Al Rajhi Capital launches largest REIT IPO in Saudi Arabia | ZAWYA MENA Edition:"Today marks the first day open for public subscription in Al Rajhi Capital’s Al Rajhi REIT Fund IPO, which will run from Jan. 1 to Jan. 14. The fund manager will offer 42.67 million units at SR10 each. Subscription will be available through Al Rajhi Bank website and Al Rajhi Capital investment centers at a minimum value of SR1,000. Al Rajhi REIT will have a fund size of SR 1.62 billion, the fund manager said. The Sh...
Tags: Travel, Saudi Arabia, Kingdom, Makkah, Shariah, Rupert Neil Bumfrey, Al Rajhi, Al Rajhi Bank, Al Rajhi Capital


Al-Rajhi REIT shares to go on sale next week | Arab News

Al-Rajhi REIT shares to go on sale next week | Arab News:"The initial public offering period of Al-Rajhi REIT Fund will run from Jan. 1 to Jan. 14, Al-Rajhi Capital said.The fund will have a size of SR1.62 billion ($282 million), the fund manager revealed.Some 42.67 million units will be offered to investors at SR 10 each."'via Blog this' [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Rupert Neil Bumfrey, Al Rajhi, Al Rajhi Capital


MIDEAST STOCKS-Banks help lift Saudi as neighbouring markets weaken

MIDEAST STOCKS-Banks help lift Saudi as neighbouring markets weaken:"Banking shares helped to keep Saudi Arabia’s stock market firm in early trade on Monday while the rest of the region continued to weaken in anaemic trade. The Riyadh index rose 0.1 percent after 25 minutes as the two largest banks gained, with National Commercial Bank adding 0.4 percent and Al Rajhi up 0.6 percent. Dubai’s index, which had been the region’s worst performer on Sunday, lost 0.2 percent on Monday morning as 16 sha...
Tags: Travel, Saudi Arabia, Dubai, Riyadh, Rupert Neil Bumfrey, Al Rajhi, GFH Financial Group, National Commercial Bank


MIDEAST STOCKS-REITs, Al Rajhi continue rise in Saudi, region mostly quiet

MIDEAST STOCKS-REITs, Al Rajhi continue rise in Saudi, region mostly quiet:"Shares in real estate investment trusts and a major bank in Saudi Arabia were up on Wednesday morning while most equity markets in the region moved little. The Riyadh index rose 0.3 percent as Al Maather REIT , which listed on Tuesday, surged its 10 percent limit for a second straight day. Al Jazira Mawten REIT gained 2.2 percent and Taleem REIT rose 1.3 percent. Shares in REITs have been heavily traded since the start o...
Tags: Travel, Saudi Arabia, Riyadh, Rupert Neil Bumfrey, Al Rajhi, Al Maather


MIDEAST STOCKS-Al Rajhi Bank, Ma'aden boost Saudi; Dubai also outperforms

MIDEAST STOCKS-Al Rajhi Bank, Ma'aden boost Saudi; Dubai also outperforms:"Saudi Arabia's stock market rose on Tuesday on the back of gains by Al Rajhi Bank and mining firm Ma'aden, while Dubai also outperformed most Gulf bourses although trading was thin. The Saudi stock index climbed 0.4 percent with Al Rajhi up 2.2 percent to 65.80 riyals, bringing its gains over the last five days to 4.9 percent. Of 14 analysts covering the stock, seven rate it a "buy" or "strong buy" and six rate it a "hold...
Tags: Travel, Saudi Arabia, Dubai, Thomson Reuters, Gulf, Rupert Neil Bumfrey, Al Rajhi, Ma aden, Al Rajhi Bank, Al Rajhi Bank Ma


Admirers Grow for Biggest Saudi Bank on Index-Addition Bet - Bloomberg

Admirers Grow for Biggest Saudi Bank on Index-Addition Bet - Bloomberg:"Saudi Arabia’s largest lender has become a favorite among equity analysts and investors as its business improves and the potentially lucrative inclusion in an emerging-markets benchmark index approaches next month.Al Rajhi Bank was upgraded to buy by Goldman Sachs Group Inc. on Aug. 8. An analyst at Bank of America Merrill Lynch followed suit eight days later, citing improving net interest margin estimates, lower funding cos...
Tags: Travel, Saudi Arabia, Dubai, Riyadh, Goldman Sachs Group Inc, Deutsche Bank AG, Bank of America Merrill Lynch, Rupert Neil Bumfrey, Al Rajhi, Arqaam Capital, Al Rajhi Bank, Index Addition Bet Bloomberg


MIDEAST STOCKS-REITs, Al Rajhi Bank boost Saudi, rest of region quiet

MIDEAST STOCKS-REITs, Al Rajhi Bank boost Saudi, rest of region quiet:"Saudi Arabia's stock market rose in early trade on Tuesday on the back of a further gain by Al Rajhi Bank and heavy trade in real estate investment trusts, while the rest of the region barely moved.The Saudi stock index climbed 0.5 percent in the first 90 minutes, with Al Rajhi up 0.9 percent, bringing its gains over the last five days to 4 percent.Maather REIT Fund jumped its 10 percent daily limit from its initial public of...
Tags: Travel, Saudi Arabia, Riyadh, Rupert Neil Bumfrey, Al Rajhi, Al Rajhi Bank


MIDEAST STOCKS-Banks hold back Saudi as nearby markets tick higher | Reuters

MIDEAST STOCKS-Banks hold back Saudi as nearby markets tick higher | Reuters:"Banks were the main drag on Saudi Arabia's stock market on Monday as investors grew wary before second-quarter financial results, while most other Middle East bourses recovered some of the losses from the sell-off after Britain's Brexit vote.Riyadh's benchmark fell by 0.2 percent as banking shares were sold in the final hour of trade. Al Rajhi, the sector's largest Islamic bank, lost 2.2 percent to 56.50 riyals and the...
Tags: Travel, Saudi Arabia, Britain, Middle East, Reuters, Riyadh, Rupert Neil Bumfrey, Riyad Capital, Al Rajhi


MIDEAST STOCKS-Saudi, Egyptian indexes edge down in early trade | Reuters

MIDEAST STOCKS-Saudi, Egyptian indexes edge down in early trade | Reuters:"Stock indexes in Saudi Arabia and Egypt edged down in early trade on Sunday, showing investor sentiment remains very fragile despite Friday's sharp rebound in oil and global equity markets.Saudi's Arabia rose in early trade but was 0.2 percent lower after an hour. Blue chip Saudi Basic Industries added 0.4 percent and major Islamic lender Al Rajhi advanced 2.0 percent, but decliners outnumbered gainers 122 to 34 as most s...
Tags: Saudi Arabia, Egypt, Reuters, Rupert Neil Bumfrey, Al Tayyar Travel, Saudi Basic Industries, Al Rajhi, Jumia Middle East Co