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MIDEAST STOCKS-Gulf markets surge on stronger oil

*Saudi Arabia's finance minister says state to keep spending. *UAE companies buy back cheap shares. DUBAI, Dec 18- Stock markets in Saudi Arabia and the United Arab Emirates soared on Thursday after the price of oil rebounded and the Riyadh government eased investors' fears by saying it would continue spending heavily on economic development.
Source: Reuters | By: Olzhas Auyezov
Have frontier markets lost their mojo?

Frontier markets' attraction has long been billed as the opportunity for uncorrelated returns, but oil's sharp drop may be undermining that premise.
Source: CNBC.com | By: Leslie Shaffer
MIDEAST STOCKS-Oil's fall below $60 sends shockwaves through Gulf

*Panic returns; UAE minister tries to reassure investors. *UAE markets hit 1- year lows, Oman at 2-1/ 2- year low. DUBAI, Dec 16- A fresh wave of panic selling wiped out $49 billion of stock market value across the Gulf Arab economies on Tuesday as the price of Brent crude oil dropped below $60 a barrel for the first time since 2009..
Source: Reuters | By: Olzhas Auyezov
Gulf can cope with cheaper oil, IMF says as bourses plunge

DUBAI, Dec 16- The Arab energy exporting states of the Gulf can cope comfortably with sliding oil prices, an International Monetary Fund official said on Tuesday, as a plunge in regional stock markets showed some local investors were panicking. If those levels persist next year, the six rich nations of the Gulf Cooperation Council will face the most dramatic...
Source: Reuters | By: Martin Dokoupil
Saudi Arabia is playing chicken with its oil

Today, Saudi Arabia is using its "oil weapon," but instead of driving up prices and cutting supply, it's doing the reverse.
Source: Reuters | By: Mohamad Bazzi
MIDEAST STOCKS-Most Gulf markets stabilise as oil's plunge pauses

*Qatar's Barwa Real Estate surges after fresh order. DUBAI, Dec 15- Most Middle East stock markets became more stable on Monday, after plunging in previous days, as the price of oil recovered slightly. Brent crude climbed above $62 per barrel, after hitting 5-1/ 2- year lows of $60.28 earlier, as traders began pricing in expectations of improving global...
Source: Reuters | By: Olzhas Auyezov
Saudi prince's news channel to go live in February

MANAMA, Bahrain- Saudi billionaire Prince Alwaleed bin Talal's pan-Arab news channel will finally take to the airwaves early next year. The channel had previously been expected to begin operations in 2012 in Bahrain, a tiny island kingdom connected by a causeway to Saudi Arabia that is home to the U.S. Navy's 5th Fleet. Bahrain continues to face low-level unrest...
Source: The Associated Press
MIDEAST STOCKS-Gulf markets tumble as oil's plunge feeds panic

*Qatar falls sharply despite bullish economic outlook. The bourses' losses left Qatar and Bahrain as the only Gulf markets with year-to-date gains. With the exception of Oman and Bahrain, where state finances are relatively weak, analysts and fund managers think that scenario is unlikely.
Source: Reuters | By: Olzhas Auyezov
Egypt stock market loses $3B amid oil plunge

CAIRO- Egypt's stock market shares plunged by 22 billion Egyptian pounds in Sunday trading as low oil prices dragged down regional economies. The markets in Egypt and Gulf Arab countries "are correlated in terms of their performance because the investor base intersects." Any net benefit for Egypt from the decline in oil prices hinges on the willingness of the...
Source: The Associated Press
UPDATE 1-Qatar predicts booming economy in 2015 despite oil price slide

DUBAI, Dec 14- Qatar predicted its economy would grow 7.7 percent next year, signaling the world's top exporter of liquefied natural gas expects very little disruption to its finances from the oil price plunge which is worrying many energy exporters. Even at current oil prices, analysts estimate Qatar's state budget might break even next year; it has huge fiscal...
Source: Reuters | By: Martin Dokoupil