Markets Middle East stocks close up as markets recalibrate Middle Eastern stocks closed trading higher on Tuesday following days of turmoil. Saudi Arabian stocks were up for the second day in a row on Tuesday, making a 1 percent gain. On Sunday the Saudi index dropped 6.8 percent, its largest one-day fall since the Covid-19 pandemic. Kuwait’s stock exchange registered a 3.08 percent gain […] April 8, 2025
Markets Global stock market dive likely to delay Gulf IPOs Steep declines in stock markets since President Donald Trump set out sweeping tariffs will almost certainly delay initial public offerings in the Gulf, analysts have told AGBI. Markets around the world have tumbled since the US president announced his plans for import taxes last Wednesday. Saudi Arabia’s Tadawul All-Share Index had its biggest one-day fall […] April 8, 2025
Markets Oil price drop leads Gulf’s government bonds to fall Dollar-denominated sovereign bonds of Middle East and North African countries slid on Monday as President Donald Trump took effective US tariff rates to their highest in more than a century, causing steep declines in global stock markets and a flight to safety in US government debt. Saudi Arabia’s stock index tumbled to a 17-month low […] April 7, 2025
Markets Turkish stocks drop 3% during global selloff Turkish stocks dropped more than 3 percent on Monday, led by banks and fuelled by a global market selloff over US tariffs and counter moves. There is also ongoing pressure on the lira due to the jailing last month of Istanbul’s mayor. Istanbul’s main share index was off 2.5 percent at 08:50 GMT after opening […] April 7, 2025
Economy Aramco losses mirror wider Saudi stock plunge The Saudi stock market opened at more than 2 percent lower on Monday to a 17-month low, following its biggest single one-day drop since the 2008 financial crisis. The Tadawul All Share Index (Tasi) tumbled by about 1,025 points or 8.6 percent following US President Donald Trump’s announcement last week of a minimum 10 percent […] April 7, 2025
Finance Dubai’s ICD could tap IPO market to fund expansion The Investment Corporation of Dubai (ICD), the principal investment arm of the emirate’s government, could potentially turn to the capital markets with a raft of listings over the next year or so, according to analysts. Established in 2006, ICD is worth about $340 billion and already has one of its crown jewels – Emirates NBD, […] April 7, 2025
Markets Gulf stocks slide as investors fret over US tariffs Dubai’s stock index tumbled on Thursday, poised for its biggest daily decline this year, and other Gulf bourses slid after US president Donald Trump announced wide-ranging tariffs on importers. Losers outnumbered gainers 34 to 10 on Dubai’s benchmark, which was down as much as 2 percent in early trade, mirroring declines on Asian bourses as […] April 3, 2025
Analysis Markets Saudi bourse less affected by Ramadan than in previous years Trading on Saudi Arabia’s bourse has changed little this Ramadan as the growing influence of institutional and professional traders offsets the impact of a decline in retail investor activity. Historically, Gulf nationals have been the dominant force on the region’s stock markets. Individuals often meet at the bourses to trade and socialise. Such habits would […] March 31, 2025
Markets Masdar IPO could help accelerate Gulf’s energy transition An initial public offering by Abu Dhabi’s Masdar could mark a pivotal moment in the move towards cleaner sources of power in not only the world’s largest oil-producing region, but also in Europe, industry observers say. Masdar, more officially known as the Abu Dhabi Future Energy Co, is considering an IPO next year to fund […] March 28, 2025
Analysis Markets The ups and downs of PIF’s US holdings Saudi Arabia’s Public Investment Fund (PIF) has made some big gains but has also been hit by some substantial losses in listed US companies in the five years since it began publishing its holdings, AGBI analysis shows. Overall, the value of its assets in publicly traded companies in the US has plunged 55 percent from […] March 28, 2025
Markets Hospital operator SMC given approval for Saudi IPO Specialized Medical Company (SMC), which operates two hospitals in Riyadh, has received approval from Saudi Arabia’s Capital Markets Authority to launch an initial public offering (IPO). The announcement allows SMC to issue 75,000 shares, representing 30 percent of its share capital. No further details about the listing were released. SMC’s CEO, Bassam Chahine, told AGBI […] March 27, 2025
Markets Junior Saudi market considers easing investor requirements Saudi Arabia’s Capital Markets Authority has proposed reforms to broaden the investor base of the kingdom’s junior stock market in an attempt to increase liquidity. The changes relax the requirements to register as a “qualified investor” on Nomu, the parallel alternative to the Tadawul, and extend this designation to board and committee members of listed […] March 26, 2025
Renewable Energy Masdar weighs IPO on Abu Dhabi stock exchange Abu Dhabi’s state-owned renewables company Masdar is in the early stages of considering an initial public offering (IPO), three people with knowledge of the matter told Reuters. The company is considering a possible listing in Abu Dhabi to raise funding for renewable projects, said two of the sources, with one of them saying a dual […] March 26, 2025
Markets Cerebras IPO still in limbo over US fears on Abu Dhabi stake Worries in the United States over a stake by an Abu Dhabi company in Cerebras Systems, the US chipmaker, are continuing to leave its IPO in limbo, five sources familiar with the matter said. The sticking point for California-based Cerebras is the review by the Committee on Foreign Investment in the United States (CFIUS) of […] March 25, 2025
Finance Umm Al Qura shares soar as more Saudi IPOs approved Shares in Saudi Arabia’s Umm Al Qura for Development and Construction surged 30 percent on Monday, the maximum allowed on a first day of trading. The Capital Markets Authority (CMA) also approved another three companies for initial public offerings. Within minutes of the opening of the Saudi Exchange, after Umm Al Qura raised SAR1.96 billion […] March 25, 2025
Finance Profits of Muscat-listed companies surge over 50% in 2024 Net profits of publicly-listed companies on the Muscat Stock Exchange rose 53 percent to OMR1.3 billion ($3.4 billion) in 2024, compared to OMR877 million in 2023, according to a news report. Of the 90 listed companies, 69 reported profits in 2024, up from 68 in the previous year, Oman Daily Observer reported. Despite the number […] March 25, 2025
Finance International investors target Saudi IPOs and smaller caps Emerging market investors are increasingly targeting Saudi Arabia’s smaller listed companies and initial public offerings, because of their better stock price performance versus their bigger peers. Since early 2020, foreign investors have been net buyers of almost $34 billion of Saudi Arabian equities, a report by the Dubai-based consultancy Iridium Advisors has revealed. Much of […] March 24, 2025
Construction Mecca property developer shares could jump after IPO Shares in Saudi Arabia’s Umm Al Qura, which will start trading on the main stock exchange on Monday following an initial public offering, should attract “a lot of interest” from investors looking to capitalise on the real estate market in one of Islam’s holiest cities, analysts have said. The company, which is overseeing a mixed-use […] March 23, 2025
Markets Umm Al Qura to list on Saudi bourse next week Shares of Umm Al Qura for Development and Construction (Umm Al Qura), the developer of Masar, a massive mixed-use project in the holy city of Mecca, will start trading on the Saudi stock exchange next week. The stock will be subject to a daily and static price fluctuation limit of plus or minus 30 percent and […] March 23, 2025
Markets Five more IPOs approved by Saudi regulator Five more companies have received approval to sell shares in initial public offerings from Saudi Arabia’s Capital Markets Authority regulator. Already this year three Saudi companies, Derayah Financial, Umm Al Qura and Arab Company for Agricultural and Industrial Investment (Entaj), have raised more than $1 billion in IPOs. Shares in both Derayah Financial and Entaj […] March 21, 2025
Finance Turkey central bank rate hike fails to calm nervous markets Turkey’s central bank has raised its overnight lending rate, a move designed to tighten liquidity and reassure markets it is prepared to intervene in response to financial instability stemming from the arrest this week of a leading political opposition figure. The move has so far failed to settle the markets. The detention of İstanbul mayor Ekram […] March 21, 2025
Markets Sport Clubs gets nod to list 30% on Saudi bourse Riyadh-based Sport Clubs Company has received approval to float 30 percent of its share capital on the Saudi stock exchange. The Capital Market Regulator has given its nod to sell 34.3 million shares on the main market. The approval will be valid for six months but is deemed cancelled if the initial public offering (IPO) […] March 21, 2025
