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Gulf row holds back single currency plan-Bahrain cenbank
October 26, 2017--A row between Qatar and some other Gulf Arab states has paused progress to a single currency in the six-nation Gulf Cooperation Council (GCC), Bahrain's central bank governor said on Thursday, adding he hoped work on the project would resume soon.
MIDEAST STOCKS-Gulf bourses may firm up on higher oil prices
October 25, 2017--Stock markets in the Gulf may tick higher Wednesday on a jump in oil prices to a near four-week high after leading exporter Saudi Arabia said it was determined to halt a supply glut.
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MIDEAST STOCKS-Saudi stocks largely flat, SEC rises on potential SoftBank stake
October 25, 2017--Saudi Arabian stocks opened largely flat on Wednesday as gains by Saudi Electricity Co (SEC) were offset by declines for Zain Saudi and Middle East Healthcare.
SEC was one of the biggest gainers, rising by 4.5 percent in early trading after news on Tuesday that the kingdom will consider selling a large stake in the utility to SoftBank Vision Fund, the world's largest private equity fund.
Saudi Arabia flat, Emaar lifts Dubai market
October 24, 2017-- Saudi Arabia's stock market ignored a huge investment conference in Riyadh and remained flat while Emaar Properties and contractor Drake & Scull helped Dubai to rebound on Tuesday.
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MIDEAST STOCKS-Emaar weighs on Dubai, Banks drag down Saudi early on
October 23, 2017--Emaar Properties weighed on Dubai's stock market in early trade on Monday for the second day in a row, while Saudi Arabia was dragged down by the banking and insurance sectors.
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'Fintech could reduce GCC banks profitability'
October 20, 2017--While technological innovation in the financial sector is a global trend, reaching developed and developing economies alike, S&P Global Ratings, the global ratings agency, believes that financial technology (fintech) could reduce the profitability of some business lines of GCC banks and change the way they operate over time.
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MIDEAST STOCKS-Banks boost Saudi on Riyad earnings, Dubai's DSI jumps
October 19, 2017--Banks led the Saudi Arabian stock market higher on Thursday after Riyad Bank reported better-than-expected earnings for the third quarter, while builder Drake & Scull jumped in Dubai.
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Middle East inbound M&A deals hit all-time high
October 19, 2017--The value of transactions involving overseas corporates buying stakes in Middle Eastern companies reached an all-time high of $7.3 billion during the nine months to September 30, according to new data released by Thomson Reuters on Wednesday.
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MIDEAST STOCKS-Banks boost Saudi on Riyad earnings, Dubai's DSI jumps
October 19, 2017--Banks led the Saudi Arabian stock market higher on Thursday after Riyad Bank reported better-than-expected earnings for the third quarter, while builder Drake & Scull jumped in Dubai.
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Middle Eastern debt boom continues
October 18, 2017--The Oil and Gas Holding Company B.S.C., which is fully owned by the kingdom of Bahrain, has sold $1bn of bonds as a rush of unprecedented capital markets borrowing from the Middle Eastern region continues.
The bond came at a yield of 7.5 per cent, and included a special clause which allowed investors to recoup their money at par if the government "ceases to own 100% of the issuer".