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Abu Dhabi Global Market enhances its international commitment with the implementation of common reporting standard regulations
July 18, 2017--Abu Dhabi Global Market, ADGM, has announced it is to implement the Common Reporting Standard, CRS, Regulations in support of the United Arab Emirates' international obligation in implementing the standards of joint disclosures and the exchange of information for tax purposes set out by the G20 and Organisation for Economic Cooperation and Development, OECD.
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Dubai technically bullish, Saudi Kayan beats earnings expectations
July 18, 2017-- Most Gulf stock markets may consolidate without clear direction on Tuesday though Dubai is short-term technically bullish and a few stocks, including Saudi petrochemical maker Saudi Kayan, may move on second-quarter earnings announcements.
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IMF: United Arab Emirates: Selected Issues
July 14, 2017--The UAE is adjusting to the new "lower-for-longer" oil environment. A consolidated Medium-Term Fiscal Framework (MTFF), which is comprehensive and forward-looking, could set a clear direction for fiscal policy for the country as a whole and better align resource allocation with local and national developments plans underpinned by goals embodied in the Vision 2021.
High quality of public financial management systems overall is also key ingredient of an appropriate MTFF
MIDEAST STOCKS-Gulf stocks end week on high after Fed's dovish comments, good Q2 results
July 13, 2017--Middle East stock markets extended gains on Thursday, helped by a rise in oil prices this week and by dovish comments from U.S. Federal Reserve Chair Janet Yellen that pointed to a more gradual tightening of monetary policy.
Rally in Dubai, Abu Dhabi indices traps bear operators
July 13, 2017--Bulls were having an upper hand in the last four sessions on Dubai bourse as traders accumulated selective stocks ahead of key second quarter results, catching bears by surprise.
The Dubai Financial Market General Index closed 1.23 per cent higher at 3,537.42, witnessing more strength after the index breached the 20-50 day moving average.
Saudi retail sector lifts market, Dubai, Qatar supported by banking shares
July 12, 2017--Shares of retailers were the chief gainers in Saudi Arabia in early trade on Tuesday, the property sector helped Dubai and Qatar was buoyed by blue chips such as Qatar National Bank.
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GCC GDP on a growth path despite oil price decline
July 11, 2017--Regional economies have been on an accelerated growth trajectory for the period 2011-14, which has been mainly fueled by record oil prices with the banking sector being the largest beneficiary of the economic boom.
In a detailed report compiled by Al Masah Capital Limited, non-core income recovery, a strong investment-led credit growth coupled with a soaring population were some of the key areas that were instrumental in bolstering the balance sheets of Saudi Arabia (KSA), Qatar, and United Arab Emirates (UAE) lenders.
Forecast for Israel's 2017 GDP Growth Increased from 2.8% to 3.4%
July 11, 2017--Yesterday evening the Bank of Israel announced it increased its forecast for Israel's 2017 GDP growth from 2.8% to 3.4%.
Israel's monetary authority cited accelerating exports and declining imports as the primary justification for their increased growth projections; continued unprecedented strength in the labor market, rising inflation expectations and expectations for a weaker Shekel were also key factors in the assessment.
Qatar has $340bn in reserves to counter economic shocks
July 10, 2017--Qatar Investment Authority has $300bn in reserves that it could liquidate.
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Gold hits biggest fall since March
July 10, 2017--Bullion expected to trade in the range of $1,200 to $1,225 an ounce this week.
More bargains await jewellery fans who will hit the shops in Dubai this week, as the bullion remains weak and looks set to tumble further.