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#Saudi Banks, #AbuDhabi Stocks Gain Amid Earnings: Inside EM - Bloomberg

Saudi Banks, Abu Dhabi Stocks Gain Amid Earnings: Inside EM - Bloomberg Shares in Saudi Arabia and Abu Dhabi led gains in the Middle East as more companies posted strong second-quarter earnings.The Saudi Tadawul All Share Index rose 0.6% at 11:45 a.m. in Riyadh, with the banks sub-index gaining 1.2% after multiple lenders reported results. Meanwhile, Abu Dhabi’s benchmark ADX General Index rose as much as 2.6%, up the most since May.Riyad Bank climbed 0.6% after reporting a record profit. The...
Tags: Travel, Saudi Arabia, Israel, Bloomberg, Egypt, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Bahrain, Kuwait, Index, Riyadh, Emaar Properties, DIB, Boutros


MIDEAST STOCKS #AbuDhabi hits record high, boosted by telco Etisalat | Reuters

MIDEAST STOCKS Abu Dhabi hits record high, boosted by telco Etisalat | Reuters Most major stock markets in the Gulf rose in early trade on Sunday, with Abu Dhabi index hitting a record high, although Qatar bucked the trend to trade lower.In Abu Dhabi, the index (.ADI) advanced 1.7%, hitting its record high, buoyed by a 6.5% jump in Emirates Telecommunications Group (Etisalat) (ETISALAT.AD).On Thursday, the telecoms firm reported quarterly net profit of 2.40 billion dirhams ($653.5 million), up...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Reuters, Etisalat, Tasi, Dubai Financial Market DFM, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, First Abu Dhabi Bank, DFMGI, Dubai Islamic Bank DISB


MIDEAST STOCKS #AbuDhabi hits record high, major Gulf bourses gain | Reuters

MIDEAST STOCKS Abu Dhabi hits record high, major Gulf bourses gain | Reuters Major stock markets in the Gulf ended higher on Thursday, amid rising oil prices, with the Abu Dhabi index hitting a record high.Brent crude oil futures were up 39 cents, or 0.5%, at $75.13 a barrel by 1254 GMT, as crude stockpiles in the United States, the world's top oil consumer, fell to their lowest since January 2020.GCC stock markets opened in the black as U.S. oil stockpiles continued decreasing, revealing ...
Tags: Travel, Saudi Arabia, United States, GCC, United Arab Emirates, Abu Dhabi, Gulf, Reuters, Reuters Major, Tasi, Saudi Telecom Company, Rupert Neil Bumfrey, Industries Qatar, Abudhabi, Al Rajhi Bank, Gulf Egypt


MIDEAST STOCKS Most Gulf bourses gain on corporate earnings boost | Reuters

MIDEAST STOCKS Most Gulf bourses gain on corporate earnings boost | Reuters Most major stock markets in the Gulf ended higher on Wednesday, largely supported by strong corporate earnings, while the Dubai index closed lower and was the only laggard.Saudi Arabia's benchmark index (.TASI) rose 0.2%, helped by a 0.4% gain in Al Rajhi Bank (1120.SE) and a 0.6% increase in oil behemoth Saudi Aramco (2222.SE).Ratings firm Fitch raised Aramco's outlook to stable and affirmed its IDR at "A".In Abu ...
Tags: Travel, Saudi Arabia, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Aramco, Emirates NBD, Fitch, Tasi, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, Gulf Egypt


MIDEAST STOCKS #AbuDhabi hits record high again; other major Gulf markets mixed | Reuters

MIDEAST STOCKS Abu Dhabi hits record high again; other major Gulf markets mixed | Reuters Major stock markets in the Gulf ended mixed on Monday, a day after the bourses were in the black as they reopened after a long Eid break, with the Abu Dhabi index reaching a new record high.During holidays in the Gulf, traders typically cash in shares and are generally cautious of any developments in global markets while their bourses are closed.In Abu Dhabi, the index (.ADI) advanced 0.9%, hitting a n...
Tags: Travel, Egypt, Dubai, Abu Dhabi, Gulf, Reuters, Reuters Major, Dana Gas, Commercial Bank, Tasi, Rupert Neil Bumfrey, QSI, Abudhabi, Al Rajhi Bank, Gulf Egypt, Emaar Properties EMAR DU


MIDEAST STOCKS #AbuDhabi hits record high as most Gulf markets gain | Reuters

MIDEAST STOCKS Abu Dhabi hits record high as most Gulf markets gain | Reuters Most Gulf bourses ended higher on Sunday, as they reopened after a long Eid break, with the Abu Dhabi index hitting a record high.During holidays in the Gulf, traders typically cash in shares and are generally cautious of any developments in global markets while their bourses are closed.Saudi Arabia's benchmark index (.TASI) gained 0.8%, with Al Rajhi Bank (1120.SE) rising 1.1% and Saudi Arabian Mining Company (1...
Tags: Travel, Saudi Arabia, Egypt, Dubai, Abu Dhabi, Gulf, Reuters, Adi, Dana Gas, Tasi, Rupert Neil Bumfrey, Abudhabi, Al Rajhi Bank, Gulf Egypt, DFMGI, Dana Gas DANA


OPEC+ Decision, Earnings Drive Mideast Market Gains: Inside EM - Bloomberg

OPEC+ Decision, Earnings Drive Mideast Market Gains: Inside EM - Bloomberg Most stock markets in the Middle East advanced after a week-long break on Sunday, the first day of trading since OPEC and its allies agreed a deal to boost production. A recovery in earnings also boosted regional equities. Saudi Arabia’s benchmark Tadawul All Share Index rises 0.8%, the most since June 13 Al Rajhi Bank +1.1%; Saudi Electricity +5.2%; Maaden +5.1%; Saudi Research +10% The Tadawul Materials sub-index ri...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, Middle East, Dubai, Abu Dhabi, Emirates NBD, Emaar Properties, QNB, Qatar Islamic Bank, Rupert Neil Bumfrey, ADCB, Al Rajhi Bank, Maaden, Harshjit Oza


Mideast Stocks: #Saudi leads major Gulf bourses higher in early trade | ZAWYA MENA Edition

Major stock markets in the Gulf rose in early trade on Sunday, as the bourses reopened after a long Eid break, with financials and petrochemical shares boosting the Saudi index.During holidays in the Gulf, traders typically cash in shares and are generally cautious of any developments in global markets while their bourses are closed.Saudi Arabia's benchmark index advanced 1.1%, with Al Rajhi Bank rising 2%, and petrochemical maker Saudi Basic Industries putting on 1.3%.Elsewhere, Yanbu National ...
Tags: Travel, Saudi Arabia, Egypt, Dubai, Gulf, Mideast, Dana Gas, Qatar National Bank, Rupert Neil Bumfrey, Saudi Basic Industries, Al Rajhi Bank, Emirates NBD Bank, IPR Energy Group, IPR Wastani Petroleum Ltd, First Abu Dhabi Bank Among, Elsewhere Yanbu National Petrochemicals Company


MIDEAST STOCKS #AbuDhabi leads Gulf higher as Yahsat makes strong market debut | Reuters

Most major Gulf markets closed higher on Wednesday with Abu Dhabi stocks leading gains, as Mubadala-backed satellite operator Al Yah Satellite Communications (Yahsat) listed after a $730 million initial public offering (IPO).Abu Dhab's index (.ADI) closed 0.5% higher boosted by a 1.9% rise in International Holding Company (IHC.AD).Shares of Yahsat surged as much as 12.7% in the first day of trading before closing at 2.80 dirhams ($0.7624) per share, 1.8% above its IPO price of 2.75 dirhams. ...
Tags: Travel, Dubai, Abu Dhabi, Gulf, Reuters, Saudi Aramco, Emirates NBD, Tasi, Rupert Neil Bumfrey, Mubadala, Al Rajhi Bank, Gulf Egypt, Qatar National Bank QNBK, Commercial International Bank COMI, Dubai Islamic Bank DISB DU, Dubai Investments DINV


MIDEAST STOCKS #Saudi index snaps five-day losing streak; #Qatar extends losses | Reuters

MIDEAST STOCKS Saudi index snaps five-day losing streak; Qatar extends losses | Reuters Major stock markets in the Gulf ended mixed on Monday, with the Saudi index snapping a five-day losing streak and Qatar falling for a third consecutive session.Saudi Arabia's benchmark index (.TASI) rose 0.1%, with Al Rajhi Bank (1120.SE) and petrochemical maker Saudi Basic Industries (2010.SE) gaining nearly 1% each.In Abu Dhabi, the index (.ADI) finished up 0.4%, led by gains in telecoms firm Etisalat...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Oman, Abu Dhabi, Gulf, Reuters, Adi, Reuters Major, Tasi, Rupert Neil Bumfrey, Industries Qatar, QSI, Mubadala


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


MIDEAST STOCKS #Saudi index falls in early trade; IHC supports #AbuDhabi | Reuters

MIDEAST STOCKS Saudi index falls in early trade; IHC supports Abu Dhabi | Reuters Saudi Arabian shares eased in early trade on Thursday, mirroring a decline in oil prices, while the Abu Dhabi index saw some support from International Holding (IHC).Brent crude oil futures slipped by 23 cents, or 0.3%, to $73.20 a barrel by 0644 GMT, amid uncertainty over supply after the collapse of talks this week among major producers which could potentially cause the current output agreement to be abandoned....
Tags: Travel, Saudi Arabia, Russia, Opec, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Adi, IHC, Rupert Neil Bumfrey, Al Rajhi Bank, DFMGI


MIDEAST STOCKS #Qatar bourse gains as major Gulf markets ease | Reuters

MIDEAST STOCKS Qatar bourse gains as major Gulf markets ease | Reuters Most major stock markets in the Gulf ended lower on Wednesday, extending losses from the previous session, after Saudi Arabia amended import rules from the Gulf in a challenge to the United Arab Emirates, although Qatar bucked the trend.Saudi Arabia's benchmark index (.TASI) fell 0.1%, hit by a 0.9% fall in Al Rajhi Bank (1120.SE) and a 0.7% drop in top lender Saudi National Bank (1180.SE).The kingdom has amended its ru...
Tags: Travel, Saudi Arabia, Opec, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Gulf Cooperation Council, Adi, Emaar Properties, Tasi, Rupert Neil Bumfrey, Emaar Malls


MIDEAST STOCKS #Dubai drags major Gulf markets lower | Reuters

MIDEAST STOCKS Dubai drags major Gulf markets lower | Reuters Major stock markets ended lower on Tuesday, as Saudi Arabia amended import rules from the Gulf in a challenge to the United Arab Emirates, with the Dubai index leading the losses.Dubai's main share index (.DFMGI) fell 0.7%, weighed down by a 1.1% drop in Emirates NBD Bank (ENBD.DU) and a 1% decline in sharia-compliant lender Dubai Islamic Bank (DISB.DU).Among others, Dubai's largest listed developer Emaar Properties (EMAR.DU) los...
Tags: Travel, Saudi Arabia, Emirates, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Gulf Cooperation Council, Reuters Major, IHC, Tasi, Rupert Neil Bumfrey, Al Rajhi Bank, Gulf Egypt, Emaar Properties EMAR DU


MIDEAST STOCKS #AbuDhabi extends gains as #Dubai eases | Reuters

MIDEAST STOCKS Abu Dhabi extends gains as Dubai eases | Reuters Abu Dhabi's stock market ended higher on Sunday, extending gains for a fifth straight session as International Holding (IHC) continued its rise following the listing of a unit, while Dubai's main index slipped.IHC's market capitalisation hit 201.7 billion dirhams ($54.92 billion) last week, making it Abu Dhabi's most valuable listed company, after the market debut of Alpha Dhabi (ALPHADHABI.AD), in which IHC holds a 45% stake....
Tags: Travel, Saudi Arabia, India, Egypt, Dubai, Abu Dhabi, Uae, Reuters, SABIC, IHC, Reuters Abu Dhabi, Tasi, Rupert Neil Bumfrey, Al Rajhi Bank, Gulf Egypt, Commercial International Bank COMI


MIDEAST STOCKS #AbuDhabi outperforms Gulf stocks as IHC extends surge | Reuters

MIDEAST STOCKS Abu Dhabi outperforms Gulf stocks as IHC extends surge | Reuters Abu Dhabi stocks outperformed Gulf markets on Monday, led by a 9% surge in the shares of the International Holding Company (IHC) conglomerate, which benefited from the listing of a subsidiary.The Abu Dhabi index (.ADI) advanced 1.2%, while International Holding (IHC.AD) was up 3.4%, having jumped 15% on Sunday. IHC shares are up around 170% this year.IHC, now Abu Dhabi's most valuable listed company, gained after t...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Ooredoo, Gulf, Reuters, IHC, Reuters Abu Dhabi, Tasi, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, S P Global, Saudi Fransi Capital, Industries Qatar IQCD


MIDEAST STOCKS #AbuDhabi outperforms Gulf bourses as IHC surges on unit's listing | Reuters

MIDEAST STOCKS Abu Dhabi outperforms Gulf bourses as IHC surges on unit's listing | Reuters Most major stock markets in the Gulf rose in early trade on Sunday, with the Abu Dhabi index boosted by a surge in International Holding (IHC) (IHC.AD) following listing of its unit.Alpha Dhabi Holding (ALPHADHABI.AD), in which IHC holds a 45% stake, opened at 20 dirhams a share before easing to 17.70 dirhams, giving it a market value of 177 billion dirhams ($48.2 billion).The Abu Dhabi index (.ADI) adv...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, IHC, Tasi, Rupert Neil Bumfrey, QSI, Sipchem, Al Rajhi Bank, Qatar National Bank QNBK, Sahara International Petrochemical Company, Dubai Islamic Bank DISB


Mideast Stocks: #Saudi gains as major Gulf markets ease | ZAWYA MENA Edition

Mideast Stocks: Saudi gains as major Gulf markets ease | ZAWYA MENA Edition Most major stock markets in the Gulf ended lower on Thursday, pressured by losses in financial shares, although the Saudi index bucked the trend to close higher.Saudi Arabia's benchmark index added 0.2%, with Al Rajhi Bank rising 0.9% and Sahara International Petrochemical Company (Sipchem) jumping 5.6% after proposing a first-half dividend of 0.75 riyal per share.SIPCHEM said in a separate filing it planned to mothbal...
Tags: Travel, Saudi Arabia, Qatar, Egypt, Middle East, Dubai, Abu Dhabi, Uae, Gulf, Emirates NBD, Gulf Arab, Commercial Bank, Rupert Neil Bumfrey, Nasdaq Dubai, Sipchem, Al Rajhi Bank


MIDEAST STOCKS Major Gulf markets mixed in early trade | Reuters

MIDEAST STOCKS Major Gulf markets mixed in early trade | Reuters Major stock markets in the Gulf were mixed in early trade on Thursday, with the Dubai index on course to snap two sessions of gains on weakness in banks.In Saudi Arabia, the index (.TASI) rose 0.3% as Al Rajhi Bank (1120.SE) gained 0.4%, while Sahara International Petrochemical Company (SIPCHEM) (2310.SE) jumped 4.5% after proposing a first-half dividend of 0.75 riyal per share.SIPCHEM said in a separate filing it planned to moth...
Tags: Travel, Saudi Arabia, Qatar, Middle East, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Reuters Major, Tasi, Rupert Neil Bumfrey, QSI, Nasdaq Dubai, Sipchem, Al Rajhi Bank


MIDEAST STOCKS #Qatar gains as major Gulf markets rise | Reuters

MIDEAST STOCKS Qatar gains as major Gulf markets rise | Reuters Major Gulf markets rose in early trade on Tuesday, mostly lifted by financial stocks, while Qatar was boosted by its blue-chip shares.The Qatari benchmark (.QSI), up 0.6%, saw broad-based gains, with telecom firm Ooredoo (ORDS.QA) jumping about 6%.Qatar's foreign minister on Monday received the new Saudi ambassador to Doha, the first to be reinstated by Arab states after they agreed to end a dispute with Qatar earlier this year. R...
Tags: Travel, Qatar, Iran, Oman, Abu Dhabi, Yemen, Doha, Ooredoo, Gulf, Reuters, Riyadh, Dubai International Airport, Tasi, Qatar Saudi Arabia, Rupert Neil Bumfrey, Al Rajhi Bank


Most major Gulf bourses in red; Egypt outperforms | Reuters

Most major Gulf bourses in red; Egypt outperforms | Reuters Dubai’s main share index eased 0.1%, hit by a 0.4% fall in Emirates NBD and a 2.2% slide in budget airliner Air Arabia.The Dubai Airshow, this year’s biggest aerospace trade show and a spectacle for business deals worth billions of dollars, will be held under capacity restrictions in November due to the coronavirus pandemic, its organiser said.In Abu Dhabi, the index dropped 0.5%, weighed down by a 1.2% fall in the largest lender Firs...
Tags: Travel, Saudi Arabia, Egypt, Dubai, Abu Dhabi, MPC, Gulf, Reuters, Emirates NBD, Dubai Airshow, Qatar Islamic Bank, Abu Dhabi Commercial Bank, Air Arabia, Rupert Neil Bumfrey, Commercial International Bank Egypt, Reuters Dubai


MIDEAST STOCKS Major Gulf markets mixed in early trade | Reuters

MIDEAST STOCKS Major Gulf markets mixed in early trade | Reuters Major Gulf stock markets were mixed in early trade on Sunday with the Abu Dhabi index leading gains boosted by top lender First Abu Dhabi Bank.The benchmark index (.TASI) in Saudi Arabia, fell 0.3%, with Al Rajhi Bank (1120.SE) losing 0.9% and petrochemical firm Saudi Basic Industries (2010.SE) easing 0.7%.The kingdom's April crude oil exports fell to their lowest level since June 2020, official data showed on Thursday. OPEC and ...
Tags: Travel, Saudi Arabia, Opec, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Adi, Fitch, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries, Al Rajhi Bank, First Abu Dhabi Bank


New Giant #Saudi Pension Fund Aims to Crack World’s Top 10 Ranks - Bloomberg

New Giant Saudi Pension Fund Aims to Crack World’s Top 10 Ranks - Bloomberg Saudi Arabia gave a first glimpse of the ambition behind the merger of two of its pension and insurance funds with a plan to rival the world’s largest investors.The new entity will boast assets of over $250 billion, according to the chief executive officer of Hassana Investment Co, the investment management arm of the kingdom’s General Organization of Social Insurance. GOSI, as the fund is known, will combine with the ...
Tags: Travel, Japan, Saudi Arabia, China, Bloomberg, PPA, Hassana, AstraZeneca PLC, Rupert Neil Bumfrey, EIG Global Energy Partners, New York State Common Retirement Fund, Al Rajhi Bank, Bloomberg Saudi Arabia, Public Pension Agency, GOSI, Global SWF


MIDEAST STOCKS #Saudi bourse underperforms major Gulf markets, #Qatar gains | Reuters

MIDEAST STOCKS Saudi bourse underperforms major Gulf markets, Qatar gains | Reuters Most major stock markets in the Gulf ended lower on Sunday, with the Saudi index leading the losses, although Qatar bucked the trend to close higher. The benchmark index  (.TASI)  in Saudi Arabia, fell 0.6%, with Al Rajhi Bank  (1120.SE)  and petrochemical firm Saudi Basic Industries  (2010.SE)  dropping 1.8% each. The kingdom's April crude oil exports fell to their lowest level since June 2020, official ...
Tags: Travel, Saudi Arabia, Opec, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, Fitch, Dubai International Airport, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries, Al Rajhi Bank, Gulf Egypt, Qatar Islamic Bank QISB QA


Al Rajhi Bank: Fitch boosts outlook to 'Stable' on resilient metrics | ZAWYA MENA Edition

Al Rajhi Bank: Fitch boosts outlook to 'Stable' on resilient metrics | ZAWYA MENA Edition Fitch Ratings agency has revised Saudi Arabia’s Al Rajhi Banking and Investment Corporation's outlook to ‘Stable’ from ‘Negative’, while affirming the bank's 'A-' Long-Term Issuer Default Ratings (IDR).The ratings agency assessed that pressures on the bank from the operating environment from the pandemic and lower oil prices have eased sufficiently, and that the financial metrics of the lander have been r...
Tags: Travel, Saudi Arabia, Fitch, Rupert Neil Bumfrey, Al Rajhi Bank, MENA Edition Fitch Ratings, Al Rajhi Banking and Investment Corporation


#SaudiArabia Pension, Unemployment Insurance Funds to Combine Into One Entity - Bloomberg

Saudi Arabia Pension, Unemployment Insurance Funds to Combine Into One Entity - Bloomberg Saudi Arabia will combine two state-run pension and unemployment insurance funds into an entity with almost $29 billion of local and foreign stocks.The cabinet approved the combination of the Public Pension Agency and the General Organization of Social Insurance, also known as GOSI. It’ll boost investment returns, reduce costs and help with their diversification, Finance Minister and GOSI Chairman Mohamme...
Tags: Travel, Saudi Arabia, Bloomberg, HSBC Holdings Plc, AstraZeneca PLC, Rupert Neil Bumfrey, Al Rajhi Bank, Mohammed al Jadaan, Public Pension Agency, GOSI, National Development Fund, Saudi National Bank, Combine Into One Entity Bloomberg Saudi Arabia, General Organization of Social Insurance


MIDEAST STOCKS Major Gulf indexes mixed, #Saudi market gains | Reuters

MIDEAST STOCKS Major Gulf indexes mixed, Saudi market gains | Reuters Major Gulf stock markets were mixed in early trade on Thursday with the Saudi index supported by gains in financial shares.Saudi Arabia's benchmark index (.TASI) edged up 0.1%, helped by a 0.2% gain in Al Rajhi Bank (1120.SE) and 0.8% rise in Riyad Bank (1010.SE).Goldman Sachs raised its expectations for Saudi Arabian growth this year and in 2022 amid rising oil prices and an increase in oil output by the kingdom.Dubai's mai...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Gulf, Reuters, Adi, Commercial Bank, Tasi, Rupert Neil Bumfrey, ADCB, QSI, Al Rajhi Bank, Qatar National Bank QNBK, Abu Dhabi Commercial Bank ADCB ADCB, Dubai Investments DINV


MIDEAST STOCKS Major stock markets in the Gulf end mixed | Reuters

MIDEAST STOCKS Major stock markets in the Gulf end mixed | Reuters Major stock markets in the Gulf ended mixed on Tuesday, with financial shares weighing on the Saudi index and property stocks bolstering Dubai.Saudi Arabia's benchmark index (.TASI) dropped 0.8%, weighed down by a 2.1% decline in Al Rajhi Bank (1120.SE) and a 2.3% slide in Saudi Telecom Company (7010.SE).The kingdom's inflation rate rose for the second consecutive month in May, climbing to 5.7% from 5.3% in April, again refl...
Tags: Travel, Qatar, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Reuters Major, Dubai Saudi Arabia, Tasi, Saudi Telecom Company, Rupert Neil Bumfrey, QSI, Hussain Sajwani, Al Rajhi Bank


MIDEAST STOCKS Major Gulf bourses ease in early trade as financial shares drag | Reuters

Major stock markets in the Gulf were subdued in early trade on Tuesday, mostly hurt by losses in financial shares in the absence of fresh factors to trade on.Saudi Arabia's benchmark index (.TASI) fell 0.4%, with Al Rajhi Bank (1120.SE) losing 0.9%, while Saudi Arabian Mining Company (1211.SE) retreated 1.2%.The kingdom's inflation rate rose for the second consecutive month, climbing to 5.7% in May from 5.3% in April, again reflecting a tripling of value-added tax to 15% last year, official data...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, Adi, Tasi, Rupert Neil Bumfrey, Hussain Sajwani, Al Rajhi Bank, First Abu Dhabi Bank, DFMGI, Qatar National Bank QNBK, Emirates NBD Bank ENBD


MIDEAST STOCKS Rising oil prices, economic recovery lift Gulf stocks | Reuters

MIDEAST STOCKS Rising oil prices, economic recovery lift Gulf stocks | Reuters Major stock markets in the Gulf ended higher on Monday, as investors eye economic recovery and rising oil prices which gained on an improved outlook for worldwide fuel demand. Brent was up 64 cents, or 0.9%, at $73.34 a barrel by 1246 GMT, its highest since May 2019. "GCC economies tend to heavily depend on oil price movements and should see solid support thanks to rising crude prices. This effect will be ob...
Tags: Travel, France, Saudi Arabia, Qatar, Egypt, GCC, Dubai, Abu Dhabi, Cairo, Gulf, Reuters, Reuters Major, United Arab Emirates UAE, Tasi, Rupert Neil Bumfrey, QSI