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MIDEAST STOCKS-Most major Gulf markets rise; #Qatar eases | Reuters

MIDEAST STOCKS-Most major Gulf markets rise; Qatar eases | Reuters: Most major Gulf markets ended higher on Monday, with financial shares boosting the Saudi index, while Qatar bucked the trend to close lower.  Saudi Arabia's benchmark index rose 0.6%, extending gains for a third straight session, with Al Rajhi Bank gaining 0.6% and National Commercial Bank, the country's largest lender, advancing 2.7%.  The kingdom will partially lift its suspension of international flights as of Sept. 15 to al...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Spa, Gulf, Reuters, ADNOC, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank, Gulf Egypt, Boursa Kuwait, Qatar National Bank the Gulf, Adnoc Distribution, Emaar Properties The Abu Dhabi


MIDEAST STOCKS-Banks lift #Saudi shares, real estate boosts #UAE markets | Reuters

MIDEAST STOCKS-Banks lift Saudi shares, real estate boosts UAE markets | Reuters:Most Gulf stock markets rose on Monday, with the Saudi Arabian index boosted by financial shares, while markets in the United Arab Emirates gained on strength in property shares.Saudi’s benchmark index gained 0.6%, with the country’s largest lender National Commercial Bank climbing 2.3%. Al Rajhi Bank firmed 0.6%.The kindgom will partially lift its suspension of international flights as of Sept. 15 to allow “excepti...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Uae, Spa, Gulf, Reuters, Saudi Arabian, Qatar National Bank, ADNOC, Rupert Neil Bumfrey, Aldar Properties, National Commercial Bank


MIDEAST STOCKS- #Dubai leads gains on property shares; #Saudi eases - Reuters

MIDEAST STOCKS-Dubai leads gains on property shares; Saudi eases - Reuters:Dubai shares reversed early losses to close higher on Tuesday, led by gains in property stocks, while other major markets in the Gulf region were little changed. Dubai's main share index gained 1%, with blue-chip developer Emaar Properties rising 2.4% and its unit Emaar Development advancing 3.9%. Elsewhere, sharia-compliant lender Dubai Islamic Bank was up 1.9%. Saudi Arabia's benchmark index lost 0.2%, driven down by a ...
Tags: Travel, Saudi Arabia, Dubai, Gulf, Reuters, Emaar Properties, Rupert Neil Bumfrey, Dubai Islamic Bank, Jabal Omar Development, National Commercial Bank, Emaar Development


MIDEAST STOCKS-Banks lift #Saudi index; #Qatar little changed - Reuters

MIDEAST STOCKS-Banks lift Saudi index; Qatar little changed - Reuters:The Saudi Arabia stock market rose in early trade on Sunday, led by gains in financial shares.The Saudi benchmark index firmed by 0.5%, with National Commercial Bank rising 1% and Saudi British Bank advancing 2.6%.Elsewhere, petrochemicals investor Alujain Holding surged 7.6%, having reported last week that its second-quarter loss narrowed to 46.4 million riyals ($12.37 million) from a loss of 78.7 million riyals a year earlie...
Tags: Travel, Qatar, Reuters, Rupert Neil Bumfrey, National Commercial Bank, Saudi British Bank, Masraf Al Rayan, Alujain Holding


MIDEAST STOCKS-Most major Gulf markets gain as financials jump - Reuters

MIDEAST STOCKS-Most major Gulf markets gain as financials jump - Reuters:Most major Gulf stock markets advanced in early trade on Monday, supported by gains in their financial shares, although Qatar bucked the regional trend to trade lower.Saudi Arabia’s benchmark index ticked up 0.2%, with Saudi Arabia Fertilizers rising 2.5% and the kingdom’s largest lender, National Commercial Bank, gaining 0.4%.Oil giant Saudi Aramco firmed 0.3%. The state-owned company on Sunday reported a 73% plunge in pro...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Gulf, Reuters, Saudi Aramco, Emaar Properties, Rupert Neil Bumfrey, Dubai Islamic Bank, National Commercial Bank


MIDEAST STOCKS-Major Gulf markets gain in early trade - Reuters

MIDEAST STOCKS-Major Gulf markets gain in early trade - Reuters:Major stock markets in the Gulf posted early gains on Wednesday, with real estate shares leading the Dubai index higher.The benchmark index in Saudi Arabia, which traded after a five-session break, rose 0.3%.Saudi Arabia’s non-oil private sector stabilised in July after four months of contraction, a survey showed on Wednesday, suggesting the worst of the disruption caused by the coronavirus pandemic may be over.National Commercial B...
Tags: Travel, Saudi Arabia, Dubai, Gulf, Reuters, Aramco, Saudi Aramco, Rupert Neil Bumfrey, National Commercial Bank


MIDEAST STOCKS-Most major Gulf stocks rise in early trade; #Qatar slips - Reuters

MIDEAST STOCKS-Most major Gulf stocks rise in early trade; Qatar slips - Reuters:Most major stocks markets in the Gulf rose in early trade on Monday, largely on the back of their financials, while Qatar’s index was hurt by first-half losses posted by Qatar Insurance Company.Saudi Arabia’s benchmark index edged up 0.1%, helped by a 0.7% rise in Dr Sulaiman Al-Habib Medical Services , while National Commercial Bank was up 0.4%, despite recording a lower second-quarter profit. But Banque Saudi Fran...
Tags: Travel, Qatar, Gulf, Reuters, Rupert Neil Bumfrey, National Commercial Bank, Banque Saudi Fransi, Sulaiman Al Habib Medical Services, Qatar Insurance Company Saudi Arabia


MIDEAST STOCKS-Gulf stocks move sideways; #Saudi gains ahead of OPEC+ meet - Reuters

MIDEAST STOCKS-Gulf stocks move sideways; Saudi gains ahead of OPEC+ meet - Reuters:Major stock markets in the Gulf moved sideways on Wednesday, with the Saudi index edging up ahead of a meeting on the future level of oil output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies.Key members of OPEC and allies including Russia, collectively known as OPEC+, are set to decide whether to extend output cuts of 9.7 million barrels per day (bpd) that end in July or ease...
Tags: Travel, Saudi Arabia, Russia, Opec, Qatar, Gulf, Reuters, Qatar Islamic Bank, Rupert Neil Bumfrey, Industries Qatar, National Commercial Bank, Al Rajhi Bank


MIDEAST STOCKS-Major Gulf markets ease in early trade as financial shares drag - Reuters

MIDEAST STOCKS-Major Gulf markets ease in early trade as financial shares drag - Reuters:Major Gulf stock markets were subdued in early trade on Monday, mostly hurt by losses in financial shares, while property shares weighed on Dubai’s index.Saudi Arabia’s benchmark index slipped 0.1%, with oil giant Saudi Aramco and National Commercial Bank both falling 0.3%.Amongst others, Saudi Real Estate retreated 0.9% a day after the company signed debt restructuring agreement of 2.07 billion riyals ($551...
Tags: Travel, Saudi Arabia, Dubai, Gulf, Reuters, Saudi Aramco, Emaar Properties, Rupert Neil Bumfrey, Dubai Islamic Bank, National Commercial Bank, Major Gulf, Saudi Real Estate


Middle East Deals: Banks Talk Consolidation to Weather Oil, Virus - Bloomberg

Middle East Deals: Banks Talk Consolidation to Weather Oil, Virus - Bloomberg:The global pandemic and an oil price rout are prompting a new wave of consolidation talk among banks in the Middle East. In recent weeks, two potential tie-ups in Saudi Arabia and Qatar have been announced, adding momentum to an already unprecedented merger and acquisition spree. With about $440 billion of deals on the table, here’s what’s in the works:National Commercial Bank and Samba Saudi Arabia’s largest lender by...
Tags: Travel, Saudi Arabia, Qatar, Bloomberg, Middle East, Riyad Bank, NCB, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Samba Saudi Arabia


New M&A Wave Seen for Gulf Banks Trying to Outrun Virus Slowdown - Bloomberg

New M&A Wave Seen for Gulf Banks Trying to Outrun Virus Slowdown - Bloomberg:The coronavirus-induced economic slowdown is prompting a new wave of consolidation talk among banks in the Persian Gulf.In less than a week, two potential tie-ups have been announced, adding momentum to an already unprecedented merger and acquisition spree. Saudi Arabia’s biggest lender National Commercial Bank kicked off the most recent wave with an offer to buy rival Samba Financial Group in what could be the world’s ...
Tags: Travel, Saudi Arabia, Bloomberg, Dubai, Gulf Cooperation Council, Persian Gulf, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Rahul Shah, Tellimer Ltd


How #SaudiArabia’s $15.6 Billion Bank Merger Would Stack Up - Bloomberg

How Saudi Arabia’s $15.6 Billion Bank Merger Would Stack Up - Bloomberg:The combination of National Commercial Bank and rival Samba Financial Group would create the third-largest lender in the Gulf Cooperation Council and a national champion to compete with regional players.In what’s set to become the biggest banking takeover this year, Saudi Arabia’s largest lender by assets proposed to pay as much as $15.6 billion to acquire rival Samba.The merged lender would have total assets of about $210 b...
Tags: Travel, Saudi Arabia, Bloomberg, Gulf Cooperation Council, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Qatar National Bank QPSC, First Abu Dhabi Bank PJSC, Bloomberg Saudi Arabia


Mideast Stocks- #Saudi up as Samba-NCB surge on merger move; Egypt extends losses | ZAWYA MENA Edition

Mideast Stocks- Saudi up as Samba-NCB surge on merger move; Egypt extends losses | ZAWYA MENA Edition:Saudi Arabia's stock market ended higher on Sunday buoyed by National Commercial Bank and Samba Financial Group after they signed an initial merger agreement, while Egypt's index extended losses. The benchmark index in Saudi Arabia gained 0.8%, with Samba Financial Group rising 9.9% for its biggest intraday gain since June 2017, while National Commercial Bank (National Commercial Bank6) was up 5...
Tags: Travel, Saudi Arabia, Egypt, Samba, NCB, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Samba NCB, National Commercial Bank National Commercial Bank6


A merged NCB-Samba bank would be #SaudiArabia's biggest lender 'by some way', says EFG Hermes - The National

A merged NCB-Samba bank would be Saudi Arabia's biggest lender 'by some way', says EFG Hermes - The National:A merger between Saudi Arabia’s National Commercial Bank and Samba Financial Group would create the biggest lender in the kingdom "by some way", with a 30 per cent share of the market, according to EFG Hermes.NCB is already the kingdom’s biggest bank in terms of assets, with a 21 per cent share of the market. Samba is the fourth-biggest, with an 11 per cent share.The combined bank will ha...
Tags: Travel, Saudi Arabia, Samba, NCB, EFG Hermes, Rupert Neil Bumfrey, Samba Financial, Samba Financial Group, National Commercial Bank, First Abu Dhabi Bank, NCB Samba, EFG Hermes NCB


#SaudiArabia Stock Market News: Samba and NCB Equities - Bloomberg

:Samba Financial Group jumped in Saudi Arabia after rival National Commercial Bank, the kingdom’s largest lender by assets, offered to acquire it for as much as $15.6 billion.The shares advanced 9.9% to 26.30 riyals as of 10:16 a.m. in Riyadh, while National Commercial Bank rose 7.3%. National Commercial Bank proposed paying as much as 29.32 riyals per share for Samba, a premium of about 27.5% to its closing price on Wednesday. Saudi Arabia has been taking steps to shore up its banking sector...
Tags: Travel, Saudi Arabia, Bloomberg, Middle East, Samba, Riyadh, Rupert Neil Bumfrey, Samba Financial Group, Public Investment Fund, National Commercial Bank, Qatar National Bank QPSC, First Abu Dhabi Bank PJSC, NCB Equities Bloomberg


Israel Shares Lead Mideast Losses on U.S. Spillover: Inside EM - Bloomberg

:The main equities index in Israel dropped the most in the Middle East as investors catch up with a decline in Wall Street last week amid a resurgence in coronavirus infections in different parts of the U.S.The TA-35 declined 2% as of 11:45 a.m. in Tel Aviv, with Teva Pharmaceutical Industries pressuring the index the most. Israel’s stock market is highly correlated to the U.S., where many Israeli shares are cross-listed. The S&P 500 dropped 2.4% on Friday as Texas and Florida halted drinking at...
Tags: Travel, Florida, Texas, Saudi Arabia, Wall Street, Israel, Tel Aviv, Qatar, Bloomberg, Middle East, Arizona, United Arab Emirates, Kuwait, Teva Pharmaceutical Industries, Rupert Neil Bumfrey, Samba Financial Group


MIDEAST STOCKS-NCB, Samba jump on potential merger; #Qatar eases - Agricultural Commodities - Reuters

MIDEAST STOCKS-NCB, Samba jump on potential merger; Qatar eases - Agricultural Commodities - Reuters:Saudi Arabia’s stock market rose on Sunday, boosted by National Commercial Bank and Samba Financial Group Bank after they signed an initial merger agreement, while Qatar’s index retreated in early trade.The benchmark index in Saudi Arabia rose 0.9%, with Samba Financial Group jumping 9.9% and National commercial Bank (NCB) up 5.2%.NCB, the kingdom’s biggest lender, said on Thursday it had signed ...
Tags: Travel, Saudi Arabia, Qatar, Samba, National Commercial Bank NCB, NCB, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Agricultural Commodities Reuters, NCB Samba, Samba Financial Group Bank


#Saudi $45 bln bank M&A is haunted by past failure – Breakingviews

Saudi $45 bln bank M&A is haunted by past failure – Breakingviews Mohammed bin Salman wants a banking champion that’s worthy of his grand visions. Saudi Arabian retail investors may not care much about the crown prince’s dreams. That means National Commercial Bank, the government’s would-be vehicle for building a financial powerhouse, will have to pay up for Samba Financial. The two banks on Thursday took the unusual step of announcing that they had arrived at a “framework agreement” for an al...
Tags: Travel, Samba, Riyad, Riyad Bank, NCB, Rupert Neil Bumfrey, National Commercial Bank, Saudi Public Investment Fund, Breakingviews Mohammed bin Salman, Samba Using NCB


MIDEAST STOCKS-Major Gulf bourses mixed; #Saudi shares rise on gains by energy, financials - Reuters

:Major Gulf bourses moved sideways on Wednesday, while gains in shares of energy and financials sectors pushed up the region’s biggest stock market Saudi Arabia.The Saudi benchmark index gained 0.6%, with National Commercial Bank, the country’s largest lender, rising 1.2%, while state-owned Saudi Aramco gaining 0.4%.The oil giant completed the acquisition of a 70% stake in petrochemicals company Saudi Basic Industries (SABIC) for $69.1 billion from the PIF sovereign fund and has extended the pay...
Tags: Travel, Saudi Arabia, Gulf, Reuters, Saudi Aramco, SABIC, Rupert Neil Bumfrey, Saudi Basic Industries SABIC, National Commercial Bank, Khalid al Dabbagh


Mideast Stocks: Major Gulf stocks fall, mirroring oil prices, global equities | ZAWYA MENA Edition

Mideast Stocks: Major Gulf stocks fall, mirroring oil prices, global equities | ZAWYA MENA Edition:All major Gulf markets fell on Monday, in line with oil and global stocks as growing fears of a second wave of coronavirus infections revived economic worries.Brent crude futures were $1.02, or 2.6% lower, at$37.71 a barrel by 0750 GMT, as new coronavirus infections hit China and the United States, raising the prospect that renewed outbreaks could weigh on the recovery of fuel demand.A cluster of C...
Tags: Travel, China, Beijing, United States, Gulf, Saudi Aramco, State, China Saudi Arabia, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank, Major Gulf, COVID


Mideast Stocks: Most of Gulf in red as oil prices fall; banks aid #Qatar | ZAWYA MENA Edition

Mideast Stocks: Most of Gulf in red as oil prices fall; banks aid Qatar | ZAWYA MENA Edition:Most Middle Eastern stock markets ended lower on Thursday, amid falling oil prices, though the Qatari index bucked the trend on the back of gains for its banking shares.Brent crude futures erased Wednesday's gains, falling 6.1%, or $2.53, to $39.20 a barrel by 1246 GMT, hit by a record build-up in U.S. crude inventories and the U.S. Federal Reserve's projections that the world's biggest economy would shr...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Saudi Aramco, U S Federal Reserve, Qatar National Bank, Qatar Islamic Bank, Rupert Neil Bumfrey, Samba Financial Group, Dubai Investments, National Commercial Bank


MIDEAST STOCKS-Major Gulf indexes retreat amid falling oil prices - Agricultural Commodities - Reuters

MIDEAST STOCKS-Major Gulf indexes retreat amid falling oil prices - Agricultural Commodities - Reuters:Stock markets in the Gulf traded lower on Thursday after oil prices fell on worries about slow demand growth as coronavirus cases rise, with U.S. crude stockpiles hitting an all-time high.Brent crude futures fell 3.4%, or $1.42, to $40.31 a barrel by 0740 GMT, erasing Wednesday’s gains.The benchmark index in Saudi Arabia, which has reported the highest number of new coronavirus infections in th...
Tags: Travel, Saudi Arabia, Gulf, Gulf Cooperation Council, Rupert Neil Bumfrey, Saudi Basic Industries, National Commercial Bank, Al Rajhi Bank, Major Gulf, Agricultural Commodities Reuters


MIDEAST STOCKS- #Saudi eases; other Gulf markets mixed - Reuters

MIDEAST STOCKS-Saudi eases; other Gulf markets mixed - Reuters:Major Gulf stock markets were mixed in early trade on Wednesday as banking shares weighed on the Saudi index, while property shares supported the Dubai index.The benchmark index of Saudi Arabia, which has reported the highest number of new coronavirus infections in the six countries of the Gulf Cooperation Council (GCC), slipped 0.3%. Al Rajhi Bank dropped 0.3%, while National Commercial Bank, the kingdom’s largest lender, was down 0...
Tags: Travel, Saudi Arabia, Dubai, Spa, Gulf, Reuters, Gulf Cooperation Council GCC, Emaar Properties, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank, Major Gulf, Emirates Integrated Telecommunications, However Saudi Arabian Mining Company, Bandar Alkhorayef


MIDEAST STOCKS- #Saudi gains as lockdown eases; Egyptian blue chips advance - Reuters

MIDEAST STOCKS-Saudi gains as lockdown eases; Egyptian blue chips advance - Reuters:The Saudi Arabia stock market closedhigher on Sunday after an easing of the kingdom's coronaviruslockdown while gains in blue-chip companies buoyed the Egyptianbourse.The benchmark Saudi index, which opened after afive-session break, advanced 2.3% as the country's largestlender National Commercial Bank soared by 7% and AlRajhi Bank posted a 2.7% gain.Saudi Arabia began easing restrictions on movement andtravel mo...
Tags: Travel, Saudi Arabia, Mecca, Reuters, Rupert Neil Bumfrey, National Commercial Bank, AlRajhi Bank


MIDEAST STOCKS-Easing of restrictions boosts #Saudi; other markets mixed - Reuters

MIDEAST STOCKS-Easing of restrictions boosts Saudi; other markets mixed - Reuters:Saudi Arabia’s stock market rose sharply in early trade on Sunday after the kingdom eased coronavirus-related restrictions, while other markets were little changed.Saudi Arabia’s benchmark index, which opened after a five session break, climbed 2.2%, boosted by gains for banking shares. Al Rajhi Bank advanced 3.7% and the country’s largest lender National Commercial Bank traded 3.5% up.The kingdom will begin easing...
Tags: Travel, Saudi Arabia, Mecca, Reuters, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank


MIDEAST STOCKS-Major Gulf stocks gain in early trade amid rising oil prices - Agricultural Commodities - Reuters

MIDEAST STOCKS-Major Gulf stocks gain in early trade amid rising oil prices - Agricultural Commodities - Reuters:Major Gulf stock markets opened higher on Sunday amid rising oil prices, with Saudi Arabia getting an additional boost from corporate earnings.U.S. crude prices jumped 7% on Friday and Brent crude settled 4.4% up at $32.50 a barrel as demand shows signs of picking with countries easing travel restrictions.Saudi Arabia’s benchmark index was up 1.1% led by Saudi Aramco which rose 1.4% t...
Tags: Travel, Saudi Arabia, Gulf, Saudi Aramco, Riyad Bank, Rupert Neil Bumfrey, National Commercial Bank, Major Gulf, Agricultural Commodities Reuters


MIDEAST STOCKS- #Saudi rises as oil remains over $30; others trade mixed - Agricultural Commodities - Reuters

MIDEAST STOCKS-Saudi rises as oil remains over $30; others trade mixed - Agricultural Commodities - Reuters:The Saudi Arabian stock market advanced on Wednesday, a day after Brent prices surged nearly 14%, while shares in the United Arab Emirates were subdued following losses in financial stocks.On Tuesday, International benchmark Brent crude rose $3.77, or 13.9%, to settle at $30.97 a barrel, as countries began easing coronavirus lockdown measures.The benchmark on Wednesday was up 0.1%, or 3 ce...
Tags: Travel, Saudi Arabia, United Arab Emirates, Rupert Neil Bumfrey, Saudi Basic Industries, National Commercial Bank, Agricultural Commodities Reuters


#Saudi Banks Act in Unison to Reassure Investors on Oil and Virus - Bloomberg

Saudi Banks Act in Unison to Reassure Investors on Oil and Virus - Bloomberg:Saudi Arabia’s banks are all on the same page when it comes to the message they want to send to investors this earnings season: they’re financially sound, even with the double whammy of the coronavirus and collapse in oil prices.All of the oil-rich kingdom’s listed lenders used the same language -- word-for-word -- to highlight their strength and warn that it’s still too early “to determine the size and extent of the fi...
Tags: Travel, Saudi Arabia, Bloomberg, Rupert Neil Bumfrey, Arab National Bank, National Commercial Bank


MIDEAST STOCKS- #Saudi, #UAE indexes fall as oil prices drop - Reuters

MIDEAST STOCKS-Saudi, UAE indexes fall as oil prices drop - Reuters:Stock markets in Saudi Arabia and United Arab Emirates(UAE) closed lower on Wednesday as oil prices fell after both the countriespromised to raise oil output amid an oil-supply policy dispute with Russia.Saudi Arabia directed Saudi Aramco to raise its oil production capacity to13 million barrels per day from 12 million bpd. UAE's national oil company(ADNOC) said that it would raise crude supply to more than 4 million bpd inApril...
Tags: Travel, Saudi Arabia, Russia, Gulf, Reuters, Saudi Aramco, United Arab Emirates UAE, Russia Saudi Arabia, ADNOC, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank


MIDEAST STOCKS-Gulf stocks plunge deeper as oil prices plummet on OPEC+ deal collapse | Nasdaq

MIDEAST STOCKS-Gulf stocks plunge deeper as oil prices plummet on OPEC+ deal collapse | Nasdaq: Gulf stock markets dived in early trade on Monday, extending their losses from the previous session amid falling oil prices after Saudi Arabia opened the taps in a price war with Russia. Saudi Arabia slashed its official selling price (OSP) for crude for April and plans to raise its production significantly next month after the Organization of the Petroleum Exporting Countries' pact with Russia to...
Tags: Travel, Saudi Arabia, Russia, Opec, Dubai, Khan, Kuwait, Doha, Gulf, State, Petroleum Exporting Countries, Russia Saudi Arabia, Tasi, Rupert Neil Bumfrey, Saudi Arabia Russia, QSI