search results for

refine results

sort by


result type


Press Releases

MIDEAST STOCKS-Mammoth bond issue boosts Saudi, Egypt rebounds

*Dubai's DXBE jumps for third day before theme parks open. DUBAI, Oct 20- Saudi Arabia's stock market rose sharply on Thursday as banks rallied after the kingdom's mammoth international bond sale, which could help to unclog liquidity bottlenecks in the economy. "This issuance is a very welcome development for the Saudi equity market and the banking sector in...

Source: Reuters

POLL-Gulf growth forecasts cut further despite oil rebound

*Much bigger deficit seen for Kuwait as austerity stalls. DUBAI, Oct 20- Analysts are continuing to cut economic growth forecasts for big Gulf Arab economies despite rebounding oil prices, suggesting they do not expect oil above $50 a barrel to let governments ease austerity policies, a quarterly Reuters poll found. Oil has bounced above $50 in recent weeks from...

Source: Reuters

MIDEAST STOCKS-SABIC profit boosts Saudi, Qatar hit by weak earnings

*Qatar hit by CBQ's net loss, which misses estimates. *Egypt down for fourth straight day. DUBAI, Oct 19- Saudi Basic Industries helped lift Riyadh's stock market on Wednesday after it reported a third-quarter net profit at the top end of forecasts, but a loss at Qatar's third- largest bank dragged that market lower.

Source: Reuters

AP Interview: IMF says low oil prices still hurting Mideast

Masood Ahmed also told The Associated Press that Iran's economy beat expectations by growing by 4.5 percent this year and could keep up that pace if it can modernize its industries and allow in more foreign investment after its nuclear deal with world powers. It suggests only Iraq, Kuwait and the United Arab Emirates will be able to see budget surpluses by 2021,...

Source: The Associated Press

MIDEAST STOCKS-Saudi hit by weak Q3 results at major companies, UAE rebounds

*Dubai, Abu Dhabi gain before large-cap earnings. *Egypt dips as roughly 3/ 4 of top 30 shares declining. DUBAI, Oct 18- Several disappointing third-quarter results from large Saudi Arabian companies dragged on the kingdom's stock index on Tuesday, while most other Gulf markets edged up in modest trade.

Source: Reuters

MIDEAST STOCKS-Saudi shares hit by Q3 earnings, most of region weak

*Saudi's Alinma Bank sinks after Q3 misses estimates. *BUPA Arabia, Najran Cement also hit by earnings. DUBAI, Oct 17- Saudi Arabia's stock market fell on Monday after another set of disappointing third-quarter earnings, while other markets in the region were also weak, in line with the global trend.

Source: Reuters

MIDEAST STOCKS-Markets fall across region, NCB earnings hit Saudi

*Saudi's National Commercial Bank misses Q3 estimates. DUBAI, Oct 16- The performance of banking shares weighed on Saudi Arabia's market index on Sunday after the largest listed bank reported profits below analysts' expectations, while indexes for other markets in the region also fell. Riyadh's index fell 1.1 percent as National Commercial Bank tumbled 5.6...

Source: Reuters

MIDEAST STOCKS-Egypt rallies on $2 bln Saudi deposit; Gulf mixed

*Egypt investors think IMF loan deal more probable. *Fears ease that Saudi is cutting financial aid to Cairo. DUBAI, Oct 13- Egypt's stock market surged on Thursday as local investors welcomed news that Saudi Arabia had deposited $2 billion in the Egyptian central bank.

Source: Reuters

MIDEAST STOCKS-Saudi banks rise, other markets follow global shares down

*Dubai's Drake& Scull retreats from gains on new CEO. *Egypt's Qalaa Holdings rebounds after big drop. DUBAI, Oct 12- Saudi Arabian banking shares rose on Wednesday after a major bank posted earnings in line with analysts' estimates, while other regional stock markets retreated in line with global shares.

Source: Reuters

MIDEAST STOCKS-Gulf up on oil price, Egypt falls on Saudi crude product halt

*Qatar National Bank edges up after strong Q3 results. Uncertainty grips Egypt over Saudi's suspension of oil product supply. DUBAI, Oct 11- Most major bourses in the Gulf rose on Tuesday as oil prices held near one-year highs, while Egypt retreated after news that Saudi Arabia had suspended oil product supplies to the country this month.

Source: Reuters