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Even with closer Saudi-US ties, Arab NATO idea was downright 'dangerous'

An "Arab NATO" alliance hyped ahead of President Trump's Saudi visit probably wouldn't have worked and could have inflamed sectarianism.

Source: CNBC.com

MIDEAST STOCKS-Egypt rebounds after tumble on rates, Gulf swept by profit-taking

*Dubai's DFM, DXBE hit by Q2 revenue worries. DUBAI, May 23- Egypt's stock market on Tuesday recovered some of the previous day's heavy losses while Gulf bourses were weaker as investors booked profits ahead of the holy month of Ramadan, when trading volumes and liquidity often decrease. Importers may benefit from lower input costs if the rate hike strengthens the...

Source: Reuters

MIDEAST STOCKS-Egypt hit by surprise rate hike, Qatar outperforms in quiet Gulf

*Real estate shares hit hardest in Egypt. DUBAI, May 22- Egypt's stock market tumbled in heavy trade on Monday after the central bank unexpectedly raised key interest rates overnight, while Qatar outperformed in an otherwise quiet Gulf. The motive for the hike was to combat Cairo's hyperinflation and it came at the recommendation of the International Monetary...

Source: Reuters

Week ahead: Is the market selloff really over? Plus, Trump is making deals in the Middle East & more

Investors are watching a few key things this week: If the selloff is really over, how Trump's Middle East trip pans out, the budget battle back home and more.

Source: CNBC.com

US, Gulf countries join hands in new group to choke off terror money as top Democrat mocks 'farce'

As President Donald Trump delivers a speech to rally Muslim support against terror, the U.S. and Gulf countries announced a new terror financing group.

Source: CNBC.com

MIDEAST STOCKS-Saudi basks in Trump glow, most of region moves little

*Arabtec soars in Dubai after it wins big order for tower. RIYADH, May 21- Saudi Arabia's stock market outperformed a sluggish region on Sunday after U.S. and Saudi companies signed over $200 billion of deals during the visit to Riyadh by President Donald Trump. "Sentiment is high because of the deals," said Talal Samhouri, head of asset management at Qatar's Amwal,...

Source: Reuters

Hapag-UASC tie-up nears completion as funding snags overcome - sources

LONDON/ FRANKFURT, May 18- German shipping line Hapag Lloyd is close to completing a merger with United Arab Shipping Company after UASC's shareholders agreed terms to repay outstanding debts, sources familiar with the talks told Reuters. It would give Hapag Lloyd access to bigger ships on the major Asia to Europe trade route. Sources also told Reuters in March...

Source: Reuters

MIDEAST STOCKS-MSCI shares pose main drag on Gulf as global markets skid

*MSCI emerging market shares weigh on Dubai, Qatar, Egypt. DUBAI, May 18- Stock markets in the Middle East most exposed to foreign fund flows followed global shares lower on Thursday, while the Saudi Arabian index, dominated by local investors, outperformed the region for the day and the week. Members of the MSCI emerging market index were also weak in Abu Dhabi, with...

Source: Reuters

MIDEAST STOCKS-Real estate sector lifts Egypt, Saudi volumes rise before Ramadan

*Egypt's SODIC jumps on expansion plans, strong Q1 results. DUBAI, May 17- Egypt's stock market outperformed its Gulf peers on Wednesday on the back of strong first-quarter earnings and positive news from a real estate developer, while Saudi Arabia saw increased activity as traders took positions ahead of Ramadan. Egypt's index rose 1.0 percent as real estate...

Source: Reuters

MIDEAST STOCKS-Egypt's EFG, TMGH diverge on MSCI changes; Gulf firm with oil at $52

*Dubai's DSI tumbles on Q1 net loss. DUBAI, May 16- Shares of Egypt's EFG Hermes and Talaat Mostafa diverged sharply on Tuesday on news that MSCI will swap the shares in its main Egyptian index, while Gulf equity markets were firm with the Brent oil price at $52 a barrel. Arqaam Capital analysts predicted passive net fund inflows of $33 million into EFG due to the index...

Source: Reuters