Markets Investment in Abu Dhabi shares by Emirati women rises 75% Emirati women have invested AED 34.6 billion ($9.42 billion) in Abu Dhabi stocks from the beginning of the year until mid-August, WAM, state news agency, reported, citing data from Abu Dhabi Securities Exchange. The bourse said that this represents a 74.7 percent growth over the corresponding period last year when their trading value was around […] August 29, 2022
Markets Abu Dhabi bourse tops Arab region in market value increase The Abu Dhabi Securities Exchange (ADX) was the top Arab financial market in terms of performance last week, as the index surged by 3.6 percent and its market value by 3.03 percent, according to the Arab Monetary Fund (AMF). In its weekly bulletin on Arab capital markets’ performance, the AMF noted that the market value […] August 21, 2022
Markets Foreigners invest $4.2bn in UAE stocks since start of 2022 The net investments of non-Arab foreigners in UAE stocks rose to over AED 15.54 billion ($4.22 billion) since the start of 2022, UAE state-owned news agency WAM reported. According to Abu Dhabi and Dubai financial markets, non-Arab foreign investors purchased local stocks worth AED 70.276 billion from the beginning of 2022 to the end of […] August 17, 2022
Markets Saudi Tadawul Group reports Q2 profit drop on mounting costs Saudi Tadawul Group, the bourse’s owner and operator, on Sunday reported an almost 24 percent decline in second-quarter profit as expenses, including salaries, rose. Net profit in the quarter ended June 30 fell to SAR 137.7 million ($36.68 million) from a SAR 181.1 million in the year-earlier period. The group said operating expenditures increased 16.6 percent […] August 14, 2022
Markets Kuwait’s Alghanim Industries mulls minority stake listing Kuwait-based Alghanim Industries’ executive chairman of Kutayba Y. Alghanim has announced plans to list a minority stake on Boursa Kuwait’s Premier Market, Kuwait Times reported. “I would like to announce my intention of exploring the possibility of publicly listing a minority interest of the Kutayba Alghanim Group (Alghanim Industries) on the Premier Market of Boursa Kuwait,” […] August 8, 2022
Opinion Markets MbS has huge plans for the stock market – best take him seriously The numbers quoted by Saudi Crown Prince Mohammed bin Salman are enormous, but he has the money to realise his ambitions July 26, 2022
Construction Saudi Arabia’s Neom to launch IPO by 2024 NEOM's listing is part of a strategy to make Saudi one of the world's top three bourses, MbS said as he unveiled designs for The Line July 26, 2022
Opinion Markets Three ways to keep your cool in a bear market Volatility should not blow your mind, it's important to hold fast and remain focused July 22, 2022
Markets Porsche faces uphill drive in race to public listing Porsche may have to go public at a steep discount if it insists on going ahead as economic obstacles mount, two people involved in the landmark multi-billion-euro listing said. The prospect of a larger than customary discount would be a setback to the controlling families pushing the initial public offering to fund a costly makeover […] July 20, 2022
Markets Gulf bourses extend rebound as Saudi outperforms Saudi Arabia’s stock market outperformed its Gulf peers on Tuesday, as the region continued its rebound from the recent selloff, although the markets were cautious about inflation and global economic growth. The benchmark index in the kingdom advanced 1.8 percent, led by a 2.1 percent rise in Riyad Bank and a 2 percent increase in […] July 20, 2022
Markets Major Gulf bourses gain, while Union Coop falls 9% on debut Most stock markets in the Gulf ended higher on Monday as an uptick in oil prices lifted sentiment, with the Saudi index leading the gains. Crude prices, a key catalyst for the Gulf’s financial markets, extended gains on a weaker dollar and tight supplies as concerns deepened around gas shipments from Russia. The benchmark Saudi […] July 19, 2022
Markets Saudi index hits 6-month low amid US recession fears Most stock markets in the Gulf fell on Thursday, with the Saudi index wiping out its gains so far this year, as a red-hot US inflation reading bolsters the case for supersized rate hikes by the Federal Reserve. Wednesday’s data showed US consumer prices jumped 9.1 percent year-on-year in June, the largest annual increase in […] July 15, 2022
Markets Most Gulf indexes drop ahead of concerns over new Fed rate hike Most stock markets in the Gulf slipped into negative territory on Wednesday, as traders awaited US inflation data for cues on a large Federal Reserve rate hike this month. Saudi Arabia’s benchmark index fell 1.1 percent to a near six-month low, with oil behemoth Saudi Aramco losing 3.4 percent and Sahara International Petrochemical Co plunging […] July 14, 2022
Markets Emaar, Aldar help push UAE bourses to post-Eid gains Stock markets in United Arab Emirates closed higher on Tuesday, as they reopened after Eid holidays, with Abu Dhabi index snapping losses in straight seven sessions. Dubai’s benchmark index rose 0.6 percent, buoyed by a 1.5 percent jump in sharia lender Dubai Islamic Bank and a 1.2 percent gain in Blue-chip developer Emaar Properties. In […] July 13, 2022
Markets Most Gulf bourses in black as investors absorb Fed minutes Most bourses in the Gulf rebounded on Thursday, enjoying a respite from their recent sell-off, as investors digest the U.S. Federal Reserve’s firm hawkish stance on taming inflationary pressures. The Fed’s June meeting minutes showed officials rallied around an outsized rate hike, justifying the 0.75-percentage-point increase as near-term inflation outlook had deteriorated since their meeting […] July 8, 2022
Markets Egypt’s blue-chip stock index trading at near 6-year lows Egypt’s blue-chip index hit a new near six-year low on Wednesday before recovering slightly in later trading, a day before the release of June inflation data. The index is down 27.44 percent so far this year, having tumbled 3.6 percent to 8,642 on Monday, its lowest since November 2016. In morning trading on Wednesday the […] July 7, 2022
Markets Dubai road toll operator appoints first CEO ahead of flotation Dubai road-toll operator Salik has appointed Ibrahim Al Haddad as chief executive officer, it said on Wednesday, in a move that showed the company was moving closer to its planned flotation. Haddad’s appointment was made at Salik’s first board meeting since it became a public joint stock company on June 15, the firm said in […] July 7, 2022
Markets Dubai leads most Gulf bourses lower on recession fears Most stock markets in the Gulf ended lower on Wednesday, with the Dubai index falling most, hit by concern over a possible global recession. Dubai’s main share index lost 1.9 percent, dragged down by a 2.8 percent fall for blue-chip developer Emaar Properties and a 2.7 percent decline for sharia-compliant lender Dubai Islamic Bank. Separately, […] July 7, 2022
Markets Dubai stocks sink again, wiping out 2022 gains The Saudi stock market extended losses for a third session on Tuesday amid mixed responses from Middle East stock markets to rising investor concerns of a possible global recession. Saudi Arabia’s benchmark index eased 0.1 percent, hit by a 4.6 percent slide in Sahara International Petrochemical. The kingdom and the United Arab Emirates are boosting […] July 6, 2022
Markets Most Gulf bourses fall as investors fear global recession Most stock markets in the Gulf ended lower on Monday, extending losses as investors remained worried about a global recession. Figures on Friday showed euro zone inflation hit yet another record high in June, firming the case for rapid European Central Bank rate hikes starting this month. US consumer sentiment hit a record low in […] July 5, 2022
Markets Supermarket chain Union Coop to list on Dubai stock market UAE supermarket chain Union Coop is to list its shares on the Dubai stock market from July 18, it announced today. The retailer suspended the trading of shares on its own portal and when trading resumes on July 18 on the DFM shareholders will be given ten shares for each already held. The company, which […] July 1, 2022
Markets Gulf markets fall on fears of another sharp slowdown Most stock markets in the Gulf ended lower on Thursday, as central banks’ aggressive rate-hike approach to tame inflation stokes fears of a rapid economic slowdown. On Wednesday, central bank chiefs from the US Federal Reserve, the European Central Bank and the Bank of England met in Portugal and voiced their renewed commitment to control […] July 1, 2022
