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Gulf mixed, Saudi firm after MSCI disappointment
June 15, 2016--Gulf stock markets were narrowly mixed in early trade on Wednesday with Saudi Arabia holding up despite disappointing news that MSCI did not put the country on a list for possible reclassification to emerging market status.
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Economists split about Egypt's interest rate decision on Thursday
June 15, 2016--Six out of 11 economists in the Reuters poll expect the bank to hold rates while five expect a hike ranging from 25 basis points to a full percentage point.
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Gulf may have weak bias before MSCI, Brexit decisions
June 14, 2016--Stock markets in the Gulf may trade with a weak bias before MSCI's decision on Tuesday evening on whether it will consider Saudi Arabia for inclusion in its emerging markets index, and before Britain's June 23 decision on whether to leave the European Union.
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Report: Saudi cabinet approves land tax, foreign investment rules
June 14, 2016--Saudi Arabia's cabinet approved a tax on undeveloped urban land and rules allowing foreign investors to own 100 percent of retail and wholesale businesses, the official SPA news agency said on Monday.
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Gulf retreats in early trade on oil, global stocks
June 12, 2016--Stock markets in the Gulf retreated in early trade on Sunday as investors booked profits in response to lower oil prices and a pull-back by international stock markets.
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Saudi higher on housing plan, oil supports petchems
June 9, 2016--Saudi Arabia's stock index was headed for its fourth session of gains early Thursday after the housing ministry announced plans to build over one million homes, while oil's recent rally helped petrochemical shares.
Dar Al Arkan was on course for its third session of strong gains, with its shares climbing 4.2 percent.
MIDEAST STOCKS-Saudi bourse may gain as investors digest economic plan
June 8, 2016--Saudi Arabia's stock market may edge higher on Wednesday as the government delivered a series of televised panel discussions with key ministers outlining a five-year economic transformation plan, while other Gulf bourses may hold onto recent gains as oil holds at 2016 highs.
On Monday, the government published a five-year National Transformation Plan (NTP), part of a wider set of reforms launched in April as "Vision 2030".
Egypt: EGX Gains Egp 2.1 Billion
June 8, 2016--The Egyptian Exchange (EGX) gained 2.1 billion pounds at the end of Tuesday's trading backed by purchase operations by investment funds and financial institutions.
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Investors lukewarm on Saudi reform plan, fear hit to economy
June 7, 2016--Plan contains hundreds of policies and targets
Most detailed, ambitious revamp of economy in decades
But austerity steps will be big drag on economy
Private sector will be pressured as it's asked to do more
Investors gave a lukewarm response to Saudi Arabia's economic reform plan on Tuesday as they worried that steps to rein in a $100 billion state budget deficit could cause a deep slowdown in the kingdom.
Market making set to return to Abu Dhabi stock exchange
June 6, 2016--Market making is set to return to the Abu Dhabi stock exchange (ADX) later this year, sources told Reuters on Monday.
The plan is for three institutions, including National Bank of Abu Dhabi, the largest bank by assets in the United Arab Emirates, to offer "bid" and "ask" prices to increase trading volumes on...