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Abu Dhabi outperforms on FAB's foreign ownership limit increase
April 14, 2019--Abu Dhabi stocks climbed
Foreigners will be allowed to own as much as 40 percent of FAB stock from a previous limit of 25 percent, lifting FAB shares by as much as 4.6 percent.
Foreigners will be allowed to own as much as 40 percent of FAB stock from a previous limit of 25 percent, lifting FAB shares by as much as 4.6 percent.
Mideast Stocks-Abu Dhabi outperforms on FAB's foreign ownership limit increase
April 14, 2019--Abu Dhabi stocks climbed over 2 percent early on Sunday, outperforming other Gulf bourses, as First Abu Dhabi Bank (FAB) surged to a more than two-month high after it obtained regulatory approval to increase its foreign ownership limit.
Foreigners will be allowed to own as much as 40 percent of FAB stock from a previous limit of 25 percent, lifting FAB shares by as much as 4.6 percent.
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Aramco-Sabic deal leads to huge spike in MENA M&A volume
April 11, 2018--Saudi Aramco's $69.1 billion acquisition of the 70 percent stake in Saudi Basic Industries from the government's Public Investment Fund led to a massive hike in merger and acquisitions (M&A) volumes involving Middle East and North African (MENA) companies in the first quarter of 2019, according to Refinitiv data.
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Mideast Stocks: Dubai ends 10-day rally, most Gulf markets little changed
April 11, 2019--Dubai's stock market slid on Thursday as most of its financial shares dropped, snapping a 10-day winning streak, while other major Gulf markets were little changed.
The Dubai index fell 0.6 percent, led by a 1.7 percent fall in Emirates NBD, ahead of its board meeting scheduled on April 16 to approve its first-quarter financial statement.
Mideast Stocks: Dubai nears 5-month high, most major Gulf markets rise
April 10, 2019--Nine of 10 Saudi banks gain
Dubai's stock market rose for the tenth straight session on Wednesday, lifted by its financial shares, while Abu Dhabi was pulled lower by its top lender First Abu Dhabi Bank.
The Dubai index gained 0.2 percent, hovering around five-month high, with Emaar Properties adding 1.2 percent and Mashreq Bank jumping 5.3 percent.
Saudi Aramco says it raises $12bln from bond issue
April 10, 2019--Saudi Aramco said on Wednesday that it raised $12 billion from its debut international bond issue, which was split into five tranches. The bonds have maturities ranging from three to 30 years.
The offering is expected to close on April 16, subject to customary closing conditions.
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EU carbon price hits over 10-year high on Brexit extension hopes
April 10, 2019--The benchmark European Union carbon price hit a more than 10-year high on Wednesday, on expectations Britain will get a delayed exit from the EU which will mean it stays in the bloc's emissions trading system for longer
The price had risen to an intraday peak of 26.89 euros ($30.22) a tonne as of 1349 GMT, its highest since July 2008.
Mideast Stocks: Financials lift Dubai, most Gulf markets rise
April 9, 2019--The Dubai index was up 0.2%, with Dubai Islamic Bank adding 0.4% and its largest lender Emirates NBD rising 0.4%
Dubai's stock market rose for a ninth straight session on Tuesday as most of its financial shares rose, while other major Gulf markets inched up.
Aramco smashes market record with $100bn orders for new bonds
April 9, 2019--Saudi state oil company will raise $12 billion from debt issue
The appetite for Aramco debt was stimulated by a series of "road shows" by the company's executives and their advisers in the main global financial centers.
The Saudi state oil company's debut on Wednesday on the international capital markets is set to break all records for a bond issue by an emerging market entity.
Mideast Stocks: Dubai leads gains, most major Gulf markets rise
April 8, 2019--Dubai's stock market rose for the eighth straight session on Monday and most major Gulf markets gained, as financial shares lifted the exchanges.
The Dubai index rose 0.6 percent, as Dubai Islamic Bank added 1.6 percent and its largest listed-developer Emaar Properties closed 1.4 percent higher.