Middle East News Older Than 1 year-If your looking for specific news, using the search function will narrow down the results
Four new investors per day: Record foreign investment in Q1 of 2019 for Saudi Arabia
May 1, 2019--70% increase from foreign investors when compared to Q1 2018
: Four new investors have set up companies in Saudi Arabia per day in the first quarter of 2019, the Saudi Arabian General Investment Authority (SAGIA) has revealed.
In a special report released on Wednesday, the authority also said that 267 new foreign investors were issued licenses in Q1 of this year, permitting them to operate in the country in a bid to “promote a competitive business environment in the Kingdom.”
Revenues boost Saudi Arabia's Q1 budget, expenditure up 8%
May 1, 2019--Saudi Arabia posted a surplus of 27.8 billion riyals ($7.41 billion) in the first quarter of this year, its first since 2014 and boosted by both oil and non-oil revenues.
The world's top oil exporter was hit hard by a slump in oil prices in 2014, leading to a budget deficit of 367 billion riyals, or about 15 percent of gross domestic product, in 2015.
view more
Dubai Gold & Commodities Exchange records best April since inception
May 1, 2019--The Dubai Gold & Commodities Exchange (DGCX) achieved its best April performance since inception, with overall volumes reaching 1,696,877 contracts, valued at $32.29 billion.
Last month's record-breaking performance was largely driven by an uptick in Indian Rupee (INR) trading fuelled by India's upcoming elections, as well as ongoing geopolitical tensions across Europe, the United States, and Asia, which have helped maintain elevated volumes in other contracts across the Exchange. Additionally the Indian Rupee Quanto Future, the index pricing of the Indian Rupee US Dollar currency pair, performed well, trading 1,621,202 contracts year-to-date, up 42.14 per cent year-on-year.
Mideast Stocks: Bank dents Abu Dhabi as cement makers strengthen Saudi index
April 30, 2019--The Abu Dhabi stock market fell sharply on Tuesday, dragged down by First Abu Dhabi Bank (FAB), while the Saudi index was lifted by its cement producers.
Abu Dhabi's index dropped 1.4 percent as First Abu Dhabi, the UAE's largest bank, shed 2.4 percent after reporting first-quarter results. The lender posted a rise in first-quarter profit but customer deposits and net interest margins fell while expenses rose.
Qatar Stock Exchange: QE Index ETF 'QETF' Discloses Its Condensed Financial Statements For The Three Month Period Ended March 31, 2019
April 30, 2019--QE Index ETF ‘QETF' disclosed its condensed financial statement for the three-month period ended March 31, 2019.
The statements show that the net asset value as of March 31, 2019 amounted to QR 372,434,485.17 representing QR 104.21 per unit.
Mideast Stocks: Profit-taking hits UAE markets, Saudi inches up
April 29, 2019--Abu Dhabi's stock market slid on Monday, affected by profit-taking and a sell-off in its financial shares, while Saudi Arabia was the only major Gulf market to rise.
The Abu Dhabi index lost 0.9 percent in its fourth straight day of declines, with energy firm Dana Gas dropping 4.1 percent and the largest bank in the United Arab Emirates, First Abu Dhabi Bank, losing 1.2 percent.
Mideast Stocks: Saudi Arabia up on banks, other Gulf shares lower
April 28, 2019--Dubai's stock index was flat with Dubai Islamic Bank up 0.4 percent and Air Arabia down 1.94 percent
Stocks in Saudi Arabia gained on Sunday after lenders such as Riyad Bank1010.SE rose due to strong earnings, while markets across the rest of the Gulf region traded lower.
view more
Mideast Stocks: Falling oil prices weigh on Gulf stocks
April 28, 2019--Stocks closed lower across the Gulf on Sunday with markets overshadowed by a fall in oil prices.
Saudi stocks eked out some early gains then went into reverse, closing 0.1 percent lower.
Al Rajhi Bank initially rose after posting an increase in profits last week but ended up with a 1.32 percent decline on the day.
Mideast Stocks: Dubai Investments weighs on Dubai index, banks lift Saudi
April 25, 2019--Dubai's stock market fell on Thursday, pressured by Dubai Investments trading ex-dividend, while banks lifted the Saudi index.
Dubai's index dropped 0.5 percent, with Dubai Investments plunging 9.8 percent to its biggest one-day loss since August 2015, as the stock went ex-dividend.
view more
Saudi Arabia considers relaxing ownership limits for foreign strategic investors
April 25, 2019--Saudi Arabia's Capital Market Authority (CMA) is considering relaxing a 49 percent limit for foreign strategic investors in shares of listed companies due to increased demand, its chairman said on Thursday.
Foreigners currently own 5.5 percent of Saudi equities but that could nearly double by the end of 2020, Mohammed El Kuwaiz said in an interview on the sidelines of a financial conference in Riyadh.
view more