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Press Releases

MIDEAST STOCKS-Al Rajhi Bank, Ma'aden boost Saudi; Dubai also outperforms

*Qatar's Investment Holding bounces after post-listing slide. DUBAI, Aug 22- Saudi Arabia's stock market rose on Tuesday on the back of gains by Al Rajhi Bank and mining firm Ma'aden, while Dubai also outperformed most Gulf bourses although trading was thin. Maather REIT Fund jumped its 10 percent daily limit from its initial public offer price to 11.0 riyals...

Source: Reuters

MIDEAST STOCKS-REITs shine in Saudi, trading volume shrinks in Qatar

*Dana Gas soars in Abu Dhabi. *Qalaa Holdings surges in Egypt. DUBAI, Aug 21- Real estate investment trusts were some of the top gainers on Saudi Arabia's stock exchange on Monday, a day before the listing of a new trust, but bourses in the region were generally sluggish, especially Qatar.

Source: Reuters

MIDEAST STOCKS-Gulf finds support from robust oil price, Egypt declines

*Dubai's Union Properties rebound continues. *Egypt's El Sewedy Electric down on profit-taking. Saudi Indian Company for Cooperative Insurance dropped 3.8 percent, Malath Cooperative Insurance fell 4.5 percent and Arabian Shield Cooperative Insurance slumped 7.6 percent.

Source: Reuters

MIDEAST STOCKS-Major Gulf bourses end week on firm footing, Egypt slips

*Egypt's SODIC down on earnings miss. DUBAI, Aug 17- Most major stock markets in the Gulf rose on Thursday with Saudi Arabia's index gaining strength from positive company-specific news while shares of one of Egypt's property developers dropped as its quarterly earnings missed estimates. Atheeb Telecommunications climbed 2.5 percent to 8.21 riyals in its...

Source: Reuters

MIDEAST STOCKS-Most markets up; Egypt ends losing streak but Qatar down after data

*GFH, Union Properties rebound after sharp losses in Dubai. Dana Gas surges in Abu Dhabi after earnings. It had plunged 12.9 percent over the previous two days as it acquired a $1.2 billion infrastructure portfolio in Africa and the Middle East, funding it with a $315 million capital increase that took issued and paid-up capital to $975 million- a big dilution for...

Source: Reuters

UPDATE 1-Qatar sovereign fund said to plan new foreign investments despite sanctions

*Factbox on Qatar's equity holdings. DOHA/ ZURICH, Aug 16- Qatar's sovereign wealth fund, with around $300 billion to its name, is shrugging off the country's diplomatic crisis with its neighbours and planning to expand its holdings. Qatar's economy has been under pressure since June 5 when Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic...

Source: Reuters

Iraq sets up oil shipping, trading joint venture

DUBAI, Aug 16- OPEC member Iraq has formed a joint venture with a shipping company owned by Arab states to transfer, store and trade crude and oil products, according to official documents and industry sources. AISSOT is owned by state firm Iraqi Oil Tankers Co and Arab Maritime Petroleum Transport Co, a pan-Arab company in which Arab oil producers such as Saudi...

Source: Reuters

MIDEAST STOCKS-Region sags as Union Properties loss hits Dubai, Egypt continues slide

*Dubai's Marka hit by earnings, GFH by share dilution. DUBAI, Aug 15- Middle Eastern stock markets sagged again on Tuesday because of a mediocre economic outlook, with a shock loss at a real estate developer weighing on Dubai and Egypt dropping for a sixth straight day. Union Properties sank 4.3 percent to 0.82 dirham after it reported a 2.29 billion dirham net loss...

Source: Reuters

MIDEAST STOCKS-Qatar's IHG falls on listing, Dubai down on weak earnings, Egypt tests support

DUBAI, Aug 14- Shares of the first family-owned business to list in Qatar slumped on Monday as they began trading, while weak earnings at several companies in Dubai weighed on the stock index there. Egypt fell for a fifth straight day. Qatari conglomerate Investment Holding Group tumbled 13 percent from its initial public offer price to 8.70 riyals.

Source: Reuters

MIDEAST STOCKS-Bourses most exposed to foreign funds lag as global mood cautious

*Dubai's Shuaa Capital flat despite strong Q2 results. *Saudi German Hospital slumps on Q2 earnings miss. DUBAI, Aug 13- Stock markets in the Middle East that are most exposed to foreign funds were the chief losers on Sunday, taking their cue from international bourses, where the mood was soured last week by growing tensions between the United States and North Korea.

Source: Reuters