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Major Gulf stock markets

Dubai leads major Gulf markets higher
Markets

Dubai leads major Gulf markets higher

  • Morgan Stanley upgrades Emaar Development to 'overweight'.
  • UAE awards ADSB $950 mln naval patrol vessel contract.
  • 24 of thirty stocks rise in Egypt's blue-chip index.
Published 18 May, 2021 08:50pm
Most major Gulf bourses gain on corporate earnings
Markets

Most major Gulf bourses gain on corporate earnings

  • Saudi Arabia's benchmark index rose 0.9%, boosted by a 1.8% gain in Al Rajhi Bank and a 8.9% surge in Bank Al Jazira, which reported an increase in its quarterly net profit.
  • The Abu Dhabi index added 0.5%, bolstered by a 0.7% gain in top lender First Abu Dhabi Bank while telecoms giant Etisalat was up 0.6%.
Published 26 Apr, 2021 06:21pm
Financials drag major Gulf markets lower
Markets

Financials drag major Gulf markets lower

  • Lower demand and a slump in commodity prices eroded state finances last year. In the Middle East and North Africa, fiscal deficits widened to 10.1% of GDP in 2020 from 3.8% of GDP in 2019.
  • Saudi Arabia's benchmark index dropped 0.7%, weighed down by a 1% decline in Al Rajhi Bank and a 1.7% decrease in Saudi National Bank.
Published 13 Apr, 2021 07:08pm