Opinion Banking & Finance China’s long-term potential for investors remains unrivalled The struggling property and retail sectors might raise questions, but the yuan's growing importance as an alternative reserve currency shows the path ahead September 12, 2022
Markets Saudi Arabia’s bourse generates over $4bn from IPOs in H1 2022 The Saudi Exchange (Tadawul) have raised SAR 15.2 billion ($4.04 billion) in the first half of 2022 through initial public offerings (IPOs), Arab News reported. The bourse saw 10 listings and nine offerings from existing listed companies, generating SAR 10.7 billion. Nahdi Medical Company was the biggest on the IPO list, garnering a collection of […] September 11, 2022
Markets Tel Aviv bourse head seeks more bilateral investing with UAE The head of Israel’s stock exchange on Tuesday called for increased investment from Israeli and Emirati investors in each other’s exchanges to boost liquidity. Two years after the so-called Abraham Accords, which saw relations normalised between Israel, Bahrain, the United Arab Emirates (UAE) and Morocco, a number of economic, trade and financial agreements between Israel […] September 7, 2022
Markets Salik confirms Dubai listing, retail offering starts this month Salik Company, Dubai’s toll gate operator, announced its intention to proceed with an initial public offering (IPO) on the Dubai Financial Market (DFM). A total of 1.5 billion shares, each with a nominal value of AED 0.01, will be offered, representing 20 percent of Salik’s total issued share capital, WAM, the UAE state news agency, […] September 6, 2022
Markets Dubai road-toll operator Salik to sell 20% of its shares via IPO Dubai road-toll operator Salik is selling 20 percent of the company via an initial public offering, the company said in its intention to float document on Monday. Salik, which was converted into a private joint stock company in June, is selling 1.5 billion shares to the public with a listing planned around Sept. 29, it […] September 5, 2022
Markets Muscat-listed companies report 11% rise in Q2 profits to $468m Total net profit of Muscat Securities Market-listed company rose 11 percent year-on-year to OR180.3 million ($468.4 million) in Q2 2022, investment bank Kamco Invest said in a report. Profit of the banking sector – the biggest on the exchange by market cap – improved 11 percent year-on-year to $276.4 million. The utilities sector followed with […] September 1, 2022
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
