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Saudi Arabia: Tackling Emerging Economic Challenges to Sustain Growth
March 18, 2015--Saudi Arabia's economy has grown very strongly in recent years as it has benefited from high oil prices and output, strong private sector activity, increased government spending, and the implementation of a number of domestic reform initiatives.
Rising oil prices and oil production
have also resulted in large external and fiscal surpluses, and government debt has declined to very low levels.
The economic outlook remains favorable. Nevertheless, the substantial drop in oil prices since the summer of 2014 is an important risk to the outlook. The Saudi Arabian economy remains very dependent on oil revenues to support growth and fiscal and external balances-over 90 percent of fiscal revenues and 80 percent of export revenues come from the sale of oil.
DP World rebounds on 2014 profit increase
March 19, 2015--The FTSE NASDAQ Dubai UAE 20 Index closed 2.21 per cent higher at 3,414.75 on Thursday, March 19.
Market heavyweight DP World gained 2.37 per cent to reach $19.45.
Qatar Int'l Islamic Bank advanced on rating hike
March 19, 2015--The Qatar Exchange 20 index in Doha halted a six-day losing streak, ending 0.85 per cent higher at 11,523.77 on Thursday, March 19.
Qatar International Islamic Bank (QIIB) added 0.66 per cent to reach QAR76.
Oil rebound halts week-long losing streak at Abu Dhabi bourse
March 19, 2015--Following the Fed's more dovish statements on an expected interest rate hike in the US from Wednesday, oil prices (DME Oman crude) edged up by $1.53 to reach $52.90 per barrel.
This led the Abu Dhabi stock market index ADXGI to regain 1.34 per cent to reach 4,337.6 amid low turnover, ending a losing streak that lasted over the last six trading sessions.
Emaar soars on Alabbar departure denial
March 19, 2015--The Dubai stock market index DFMGI gained 1.91 per cent to hit 3,473.42 on Thursday, March 19.
The gauge posted its first significant rebound in three weeks after the United States Federal Reserve chairperson Janet Yellen signalled on Wednesday that interest rates in the world's biggest economy would not be hiked from the current near-zero level in a rush.
Saudi market falls the fourth session straight
March 18, 2015--The Tadawul All Share Index closed 1.82 per cent lower to hit a five-week low at 9,133.87 points on Wednesday, March 18.
The price of oil (WTI crude) fell to a near 2015-low at around 44 dollar per barrel.
DP World dives ahead of annual results
March 18, 2015--The FTSE NASDAQ Dubai UAE 20 Index closed 2.60 per cent lower at 3,340.92 on Wednesday, March 18.
Market heavyweight DP World lost 2.56 per cent to $19 per share.
Qatari shares plummet across the board
March 18, 2015--The Qatar Exchange 20 index in Doha dived for the sixth session straight, ending off 2.23 per cent to hit 11,426.62 on Wednesday, March 18.
Qatar National Bank lost 2.94 per cent to reach QAR188.30. Cinema was the sole gaining share, finishing 9.62 per cent higher at QAR49.
Oil double dip forces Abu Dhabi shares down
March 18, 2015--The stock market index in the UAE capital Abu Dhabi, the ADXGI, lost for the sixth consecutive session on Wednesday, March 18, ending off 1.17 per cent at 4,280.07 points.
Oil (WTI crude), after a brief recovery in the last four weeks, fell back to the end-January's level and dived 2.3 per cent to 44.14 dollar per barrel.
Dubai market plummets per cent in pre-Fed session
March 18, 2015--The Dubai stock market index DFMGI closed 3.57 per cent lower on Wednesday, March 18, at 3,408.18 points, representing a three-month low.
The two-day US Federal Reserve meeting, which starts today, will give a hint on how fast (June?) an expected interest rate hike in the world's biggest economy might occur, analysts said, and the uncertainty weighed on market indices in the East and the West.