MIDEAST STOCKS The Gulf’s major stock exchanges facilitate initial trading as financial stocks drag

MIDEAST STOCKS The Gulf’s major stock exchanges facilitate initial trading as financial stocks drag

A $595 million bid to take DAMAC Properties (DAMAC.DU) private by the firm’s founder Hussain Sajwani is the latest blow to the exchange, even as the Gulf city state’s property market showed signs of life in the first quarter. read more Dubai’s stock market is set for another delisting, raising a question mark over the future of one of the Gulf’s major exchanges, which was launched two decades ago. read more However, DAMAC traded flat.

Saudi Arabia’s economy, the largest in the Arab world, shrank 3% in the first quarter this year from a year earlier, hit by oil output cuts. read more The kingdom’s inflation rate rose for the second consecutive month, climbing to 5.7% in May from 5.3% in April, again reflecting a tripling of value-added tax to 15% last year, official data showed on Tuesday. read more

Dubai’s main share index (.DFMGI) lost 0.3%, with Emirates NBD Bank (ENBD.DU) falling 0.4% and logistic firm Aramex (ARMX.DU) shedding 1.5%. Saudi Arabia’s benchmark index (.TASI) fell 0.4%, with Al Rajhi Bank (1120.SE) losing 0.9%, while Saudi Arabian Mining Company (1211.SE) retreated 1.2%.

Source www.reuters.com Our Standards: The Thomson Reuters Trust Principles.

In Qatar, the index (.QSI) was down 0.2%, driven down by a 0.8% fall in Qatar National Bank (QNBK.QA), the Gulf’s biggest bank. The Abu Dhabi index (.ADI) eased 0.2%, hurt by a 0.1% drop in First Abu Dhabi Bank (FAB.AD), the country’s largest lender, and a 0.2% decline in telecoms firm Etisalat (ETISALAT.AD).

The News Highlights

  • MIDEAST STOCKS The Gulf’s major stock exchanges facilitate initial trading as financial stocks drag
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Severe storms leave interruptions and damage to trees in the Chicago area
Severe storms leave interruptions and damage to trees in the Chicago area
ComEd reported that more than 24,000 of its customers remained without power about 7:20 a.m. The Illinois Department of Transportation said some trees were ...
Pole Vault Sam Kendricks Out of Games After Covid Test Positive
Pole Vault Sam Kendricks Out of Games After Covid Test Positive
Men’s pole vault qualifying begins Saturday morning in Japan, or 8:40 p.m. Friday ET. An Oxford, Mississippi, native, 28-year-old Sam Kendricks is a first ...
This new Android 12 feature will make sharing URLs much easier
This new Android 12 feature will make sharing URLs much easier
According to a XDA Developers report, the new feature allows users to instantly copy a URL of the website from the Recent Apps screen (usually accessed by ...
Bestgamingpro’s Top 10 Best Straight Talk T Cell Phones for 2021
Bestgamingpro’s Top 10 Best Straight Talk T Cell Phones for 2021
Ip68 license, waterproof, shockproof, navy grade, flashlight. Att, tmobile; Metro; Easycell; tracfone; Cricket Wi-Fi; Internet 10; Speed ​​speaks; Speaks ...
California again recommends masks indoors, regardless of vaccination status, as COVID cases increase
California again recommends masks indoors, regardless of vaccination status, as COVID cases increase
Close Modal On Monday, Gov. Gavin Newsom announced that roughly 2.4 million state and health care employees must show proof of vaccination or face weekly ...
Microsoft Flight Simulator Has a Great Port on Xbox Series X/S
Microsoft Flight Simulator Has a Great Port on Xbox Series X/S
But it’s all there. Microsoft Flight Simulator literally gives you access to the entire world thanks to its unique world generation systems, backed up by ...
Florida forecast to report more than 83,000 new cases of COVID per day by August 9
Florida forecast to report more than 83,000 new cases of COVID per day by August 9
But Pasco County may have the toughest road ahead the next couple of weeks. According to the Mayo Clinic, Pasco currently averages 475 new cases of COVID-19 ...
Beaumont Health Requires COVID-19 Vaccine for Employees – The News Herald
Beaumont Health Requires COVID-19 Vaccine for Employees – The News Herald
“For more than a year, Beaumont has led Michigan in the fight against COVID-19. Through it all, the safety of our patients, their loved ones and our team ...
Apple and AMD are navigating the chip scarcity by focusing on profitable goods, according to Reuters
Apple and AMD are navigating the chip scarcity by focusing on profitable goods, according to Reuters
Apple Inc (AAPL.O) said on Tuesday chip shortages had mostly affected its iPad and Mac products in its last quarter, but would start to bite into its ...
BRIEF-Apple Plans To Restore Mask Requirement For Both Customers And Employees At Most U.S. Retail Stores – Bloomberg News – Reuters
BRIEF-Apple Plans To Restore Mask Requirement For Both Customers And Employees At Most U.S. Retail Stores – Bloomberg News – Reuters
* APPLE PLANS TO RESTORE MASK REQUIREMENT AT MOST OF ITS U.S. RETAIL STORES FOR BOTH CUSTOMERS AND STAFF EVEN THOSE WHO ARE VACCINATED – BLOOMBERG NEWS ...
Show next
Compsmag - Latest News from tech, business and health
Logo