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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 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


Analysis: OPEC disagreement lays bare growing #UAE-#Saudi economic rivalry | Reuters

Analysis: OPEC disagreement lays bare growing UAE-Saudi economic rivalry | Reuters Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed al-Nahyan receives Saudi Crown Prince Mohammed bin Salman at the Presidential Airport in Abu Dhabi, United Arab Emirates November 27, 2019. WAM/Handout via REUTERS Rare public disagreement between the United Arab Emirates and Saudi Arabia over OPEC policy points to a growing economic rivalry between the two largest Arab economies which only lo...
Tags: Travel, Saudi Arabia, Opec, Qatar, Iran, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Yemen, Amir Khan, Uae, Gulf, Reuters, Riyadh, Mohammed bin Salman


MIDEAST STOCKS #Dubai drops as fresh virus spike in other nations stokes recovery fears | Reuters

MIDEAST STOCKS Dubai drops as fresh virus spike in other nations stokes recovery fears | Reuters Dubai shares hit a four-week low on Wednesday, as a resurgence in COVID-19 cases in other countries across the world threatened economic recovery in the tourism-reliant market.Dubai's main index (.DFMGI) fell for a third consecutive session to end 0.6% lower, its lowest closing since June 1, with Emirates NBD Bank (ENBD.DU) dropping 1.1%, while Sharia-compliant lender Dubai Islamic Bank (DISB.DU...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Gulf, Reuters, IHC, Qatar National Bank, Rupert Neil Bumfrey, Reuters Dubai, Gulf Egypt, First Abu Dhabi Bank FAB, Commercial International Bank COMI, Dubai Islamic Bank DISB, Emirates NBD Bank ENBD, Saudi National Bank


MIDEAST STOCKS Fresh COVID curbs and US air strike push Gulf stocks lower | Reuters

MIDEAST STOCKS Fresh COVID curbs and US air strike push Gulf stocks lower | Reuters A resurgence in coronavirus infections and U.S. air strikes against Iran-backed militias slammed Gulf stock markets on Monday, knocking Abu Dhabi's main index from record highs hit earlier in the session.Dubai's share index (.DFMGI) posted the biggest fall, down 1.1% and off 21-month highs touched on Sunday. It was weighed by a 1.8% fall in top lender Emirates NBD (ENBD.DU) and a 1.6% decline in blue-chip d...
Tags: Travel, Saudi Arabia, Iraq, US, Qatar, Iran, Syria, Dubai, Abu Dhabi, Gulf, Reuters, Emirates NBD, Stark, IHC, Emaar, Tasi


Sovereign fund PIF considers #Saudi Telecom stake sale, sources say | Reuters

Sovereign fund PIF considers Saudi Telecom stake sale, sources say | Reuters Saudi Arabia’s Public Investment Fund (PIF) is considering divesting part of its stake in Saudi Telecom, sources close to the matter told Reuters, as the sovereign wealth fund seeks to monetise some of its assets.The fund, which holds $430 billion of assets, has hired Goldman Sachs and Saudi National Bank’s (SNB) investment banking arm to arrange a transaction, three sources said, declining to be named because the mat...
Tags: Travel, Saudi Arabia, Goldman Sachs, SNB, Pif, Reuters, Mohammed bin Salman, Rupert Neil Bumfrey, Saudi Telecom, Public Investment Fund PIF, Saudi National Bank


MIDEAST STOCKS Major Gulf markets gain as financial shares rise | Reuters

Major stock markets in the Gulf ended higher on Tuesday, supported by their financial stocks, with the Abu Dhabi index leading the gains. Saudi Arabia's benchmark index  (.TASI)  added 0.3%, with Saudi National Bank  (1180.SE)  rising 2.5% and petrochemical maker Saudi Basic Industries  (2010.SE)  strengthening 0.7%. Yemen's warring parties are thrashing out terms for a peace deal that would extricate the kingdom from a costly war and help alleviate a devastating humanitarian crisis, Reu...
Tags: Travel, Saudi Arabia, Qatar, Iran, United Arab Emirates, Dubai, Oman, Abu Dhabi, Yemen, Uae, Gulf, Reuters, Riyadh, Adi, Dubai International Airport, Tasi


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


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


Fitch revises #Saudi National Bank's outlook on lender's resilience and improving environment | The National

Fitch revises Saudi National Bank's outlook on lender's resilience and improving environment | The National Fitch Ratings upgraded Saudi National Bank's outlook from negative to stable, citing its resilient financial metrics and an improving operating environment.The credit rating agency also affirmed the lender’s long-term issuer default rating at "A-". It assigned a national long-term investment grade rating of "AA+(sau)" with a stable outlook.“The revision of the outlook reflects our view t...
Tags: Travel, Fitch, Rupert Neil Bumfrey, Saudi National Bank, National Fitch Ratings


#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 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


MIDEAST STOCKS Most Gulf markets track oil prices higher; Egypt falls | Reuters

MIDEAST STOCKS Most Gulf markets track oil prices higher; Egypt falls | Reuters Major Gulf stock markets ended higher on Wednesday, with Saudi Arabia extending gains into a seventh session amid rising oil prices, while financials dragged down the Egyptian index.Brent crude rose 1.2% to $71.09 a barrel by 1011 GMT, supported by an OPEC+ decision to stick to its plan to restore supply to the market gradually and by the slow pace of nuclear talks between Iran and the United States. read moreSa...
Tags: Travel, Saudi Arabia, Opec, Iran, United States, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Tadawul, Tasi, Rupert Neil Bumfrey, DFMGI, First Abu Dhabi Bank FAB


MIDEAST STOCKS #Saudi stocks extend gains, most major Gulf markets up in early trade | Reuters

MIDEAST STOCKS Saudi stocks extend gains, most major Gulf markets up in early trade | Reuters Most major Gulf markets rose in early trade on Wednesday, with Saudi stocks extending gains into a seventh session amid rising oil prices.Oil prices rose on Wednesday after OPEC and its allies stuck to their plan to cautiously bring back more oil supply to the markets in June and July while expecting a robust recovery in demand in the United States and China.Brent crude futures (.LCOc1) climbed 0.31% ...
Tags: Travel, Kingdom, Opec, Qatar, United States, Dubai, Abu Dhabi, Gulf, Reuters, IHS, IHC, Tasi, ADNOC, Rupert Neil Bumfrey, Al Rajhi Bank, Abu Dhabi ADI


MIDEAST STOCKS-Major Gulf stocks mixed; #UAE, #Saudi set for monthly gain | Nasdaq

MIDEAST STOCKS-Major Gulf stocks mixed; UAE, Saudi set for monthly gain | Nasdaq Major Gulf stock markets were mixed in early trade on Monday, with indexes in the United Arab Emirates and Saudi Arabia set for monthly gains amid rising oil prices and signs of economic recovery.Brent crude futures .LCOc1 have gained more than 3% this month and are up more than 34% year-on-year, according to Refinitiv Eikon data.The United Arab Emirates' non-oil sector expanded in April as the seasonally adjusted...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Tasi, Rupert Neil Bumfrey, Saudi British Bank, First Abu Dhabi Bank, DFMGI, Major Gulf, Emirates Telecommunications Group Etisalat, Refinitiv Eikon, Dubai Islamic Bank DISB DU, Nasdaq Major Gulf


Review: #Saudi banks' Q1 aggregate net income up 20% on year | ZAWYA MENA Edition

Review: Saudi banks' Q1 aggregate net income up 20% on year | ZAWYA MENA Edition The cumulative net income of Saudi Arabia’s listed banks in the first quarter of 2021 excluding Samba Financial Group, improved 20 percent year-on-year on the back of lower provisions, higher non-financing income and improved efficiency, said Al Rajhi Capital in a note.The Riyadh-based investment bank said, however, that net interest margin (NIM) fell due to the low interest rate environment and the decline in mor...
Tags: Travel, Saudi Arabia, Riyadh, NPA, NIM, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Banque Saudi Fransi, Al Rajhi Capital, Saudi Central Bank, Saudi National Bank, Al Rajhi Bank Albilad, Alinma Banks, Al Rajhi Albilad


MIDEAST STOCKS #Qatar falls on broad-based losses; #AbuDhabi gains | Reuters

MIDEAST STOCKS Qatar falls on broad-based losses; Abu Dhabi gains | Reuters Broad-based losses pulled Qatari shares lower on Monday, with all stocks on the index except one in negative territory, while the Abu Dhabi index was buoyed by its top lender.The Qatari benchmark (.QSI) retreated 1.3%, falling for a fourth consecutive session. Petrochemical maker Industries Qatar (IQCD.QA) slid 3.8%, the biggest decline on the index."Qatar is still facing lockdowns and slower vaccination rates th...
Tags: Travel, Saudi Arabia, Qatar, House, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Tasi, Etihad Etisalat, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, Gulf Egypt, First Abu Dhabi Bank


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 early on Sunday, with the Dubai index on track to extend gains for a fifth consecutive session, buoyed by property companies.The main Dubai share index (.DFMGI) gained 0.9%, with blue-chip developer Emaar Properties (EMAR.DU) rising 1.5% while its shopping malls unit Emaar Malls (EMAA.DU) gained 1%.Dubai house prices are expected to rise for the first time in six years this year, supported by a swift ...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, Adi, Tasi, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, First Abu Dhabi Bank FAB, Emaar Properties EMAR, Emirates NBD Bank ENBD DU, International Holding IHC


MIDEAST STOCKS Most major Gulf markets track lower oil prices; #Dubai gains | Reuters

MIDEAST STOCKS Most major Gulf markets track lower oil prices; Dubai gains | Reuters Major Gulf markets ended lower on Wednesday, mirroring weak oil prices, while Dubai extended gains from the previous session following an upbeat assessment of its property shares by Morgan Stanley.Brent crude futures fell $1.4, or 2% to $67.31 a barrel at 1215 GMT, on renewed demand concerns as coronavirus cases in Asia rise and on fears rising inflation might lead the U.S. Federal Reserve to raise inter...
Tags: Travel, Asia, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, U S Federal Reserve, Gulf Arab, Emaar, Tasi, Rupert Neil Bumfrey, Morgan Stanley MS N, Al Rajhi Bank


MIDEAST STOCKS #Saudi rises in early trade on oil boost; #Qatar flat | Reuters

MIDEAST STOCKS Saudi rises in early trade on oil boost; Qatar flat | Reuters Most major stock markets in the Gulf rose in early trade on Tuesday, with the Saudi index leading gains on rising oil prices, while Qatar traded flat.Oil, a key catalyst for the Gulf's financial markets, extended gains as hopes of a solid recovery in fuel demand following the reopenings of the U.S. and European economies offset concerns over spreading COVID-19 cases in Asia.Brent crude oil futures were up 33 cents, or...
Tags: Travel, Asia, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Sharjah, Sharm El Sheikh, Reuters, Tasi, Air Arabia, Rupert Neil Bumfrey, Al Rajhi Bank, Emirates NBD Bank ENBD, International Holding IHC, Saudi National Bank


MIDEAST STOCKS Major Gulf markets trade mixed ahead of Eid holidays | Reuters

MIDEAST STOCKS Major Gulf markets trade mixed ahead of Eid holidays | Reuters Major stock markets in the Gulf were mixed early on Monday in thin trade ahead of Eid al-Fitr holidays, with the Saudi index supported by financial shares.Saudi Arabia's benchmark index (.TASI) edged up 0.2%, a day after trading flat. Saudi Telecom Company (7010.SE) rose 0.5%, while Saudi National Bank (1180.SE), the kingdom's largest lender, was up 0.3%.Among others, Bank AlJazira (1020.SE) added 0.8%, as the lender...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Bank, Gulf, Reuters, Reuters Major, Tasi, Air Arabia, Saudi Telecom Company, Rupert Neil Bumfrey, Industries Qatar, QSI, First Abu Dhabi Bank


MIDEAST STOCKS Most Gulf markets muted, #Saudi stocks gain on upbeat heavyweight earnings | Reuters

MIDEAST STOCKS Most Gulf markets muted, Saudi stocks gain on upbeat heavyweight earnings | Reuters Major Gulf stock markets were little changed in early trade on Wednesday, with Saudi Arabian shares edging up on upbeat corporate earnings by heavyweights.Saudi Arabia's benchmark index (.TASI) was trading nearly 0.1% higher in early trade.The Saudi National Bank (1180.SE) was up 0.6%, while Saudi Aramco (2222.SE) added 0.1%, extending gains from Tuesday after the state oil producer reported 30% ...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Gulf, Reuters, Saudi Arabian, Qatar National Bank, Tasi, Rupert Neil Bumfrey, Abu Dhabi National Energy Company Taqa, Emaar Properties EMAR DU, Waha Capital, Emirates Telecommunications Group Etisalat, Dubai Islamic Bank DISB DU, Qatar Islamic Bank QISB


Mideast Stocks: Property, banking stocks boost #Dubai; #Saudi index falls | ZAWYA MENA Edition

Mideast Stocks: Property, banking stocks boost Dubai; Saudi index falls | ZAWYA MENA Edition Most major stock markets in the Gulf closed higher on Monday, with the Dubai index outperforming the region on the back of property and banking shares, while the Saudi bourse was dragged down by material and financial stocks.The Dubai index rose 1.1%, as blue-chip developer Emaar Properties added 1.8% and Dubai Islamic Bank gained 1.4%, snapping a four-session losing streak.Dubai Investments jumped 2.6...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Mideast, Emaar Properties, Rupert Neil Bumfrey, Saudi Basic Industries, Dubai Islamic Bank, Abu Dhabi Islamic Bank, United Development, Dubai Investments, Almarai Co, Emirates Telecommunications Group


Mideast Stocks: Major Gulf markets end mixed; #Dubai index outshines | ZAWYA MENA Edition

Mideast Stocks: Major Gulf markets end mixed; Dubai index outshines | ZAWYA MENA Edition Stock markets in the Gulf ended mixed on Sunday, with property shares driving the Dubai index higher while the Saudi bourse was hit by declines in financials.Saudi Arabia's benchmark index dropped 0.5%, with Saudi National Bank 1180.SE , the kingdom's largest lender, losing 2.1%, while Riyad Bank retreated 2.8% after it reported a fall in quarterly earnings. On Wednesday, the Saudi index gained sharply aft...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Mohammed bin Salman, Riyad Bank, Emaar Properties, Etisalat, Rupert Neil Bumfrey, Industries Qatar, Emaar Malls, Dubai Investments, First Abu Dhabi Bank


MIDEAST STOCKS Gulf bourses mixed in early trade | Reuters

MIDEAST STOCKS Gulf bourses mixed in early trade | Reuters Stock markets in the Gulf were mixed early on Sunday, with bourses in the United Arab Emirates supported by corporate earnings reports.Saudi Arabia's benchmark index (.TASI) was down 0.4%, extending losses from the previous session.Saudi National Bank (1180.SE), the kingdom's largest lender, and petrochemical firm Saudi Basic Industries Corp (2010.SE) were both down 1.4%.On Wednesday, the Saudi index registered sharp gains after Crown ...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Moscow, Abu Dhabi, Gulf, Reuters, Mohammed bin Salman, Saudi Basic Industries Corp, Riyad Bank, Etisalat, Tasi, Rupert Neil Bumfrey, DFMGI


MIDEAST STOCKS #Saudi leads major Gulf markets lower; #Dubai gains | Reuters

Most major stock markets in the Gulf fell on Thursday, with Saudi shares leading the declines, although the Dubai bourse bucked the trend on support from property stocks.Saudi Arabia's benchmark index (.TASI) dropped 1%, dragged down by a 2.2% fall in Al Rajhi Bank (1120.SE) and a 3.1% slide in the Saudi National Bank (1180.SE), the kingdom's largest lender.On Wednesday, the Saudi index registered sharp gains after the country's Crown Prince Mohammed bin Salman said the kingdom had no plans to i...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Ooredoo, Gulf, Reuters, Mohammed bin Salman, Adi, Dana Gas, Tasi, Rupert Neil Bumfrey, Al Rajhi Bank, First Abu Dhabi Bank, Dana Gas DANA


#Saudi Tadawul Group hires JP Morgan, Citi, NCB Capital for IPO -statement | Reuters

Saudi Tadawul Group hires JP Morgan, Citi, NCB Capital for IPO -statement | Reuters Saudi Tadawul Group, the owner and operator of the country's stock market, said on Wednesday it appointed JP Morgan, (JPM.N) Citigroup (C.N) and the securities arm of Saudi National Bank (1180.SE) for its initial public offering.Tadawul said the public share sale will allow it to expand and strengthen its position globally. The deal is part of efforts by Saudi Arabia to diversify its economy.With a market capit...
Tags: Travel, Saudi Arabia, Reuters, Tadawul, Rupert Neil Bumfrey, HUSSAN, Saudi National Bank, Saudi Tadawul Group, JP Morgan Citi NCB Capital for IPO, Reuters Saudi Tadawul Group, JP Morgan JPM N Citigroup C N