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Oil price fall has mixed impact on Gulf, Doha extends recovery
June 15, 2017--Stock markets in the Gulf were mixed on Thursday with Qatar and Dubai rising despite a fall in crude oil prices, while Saudi Arabia's decline was cushioned by hopes it will be put on review for possible emerging market status next week.
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New Report Projects Modest Growth in GCC with Increased Activity in the Non-Oil Sector
June 15, 2017--A new World Bank report projects growth in the Gulf Cooperation Council countries will gradually recover from 1.3% in 2017 to 2.6% in 2019.
The first edition of the Gulf Economic Monitor, which will be produced half-yearly by the World Bank, indicates that, although overall growth will remain weighed down by oil production cuts, growth in the non-oil sector has bottomed out. With oil prices expected to stabilize at close to current levels, the pace of fiscal austerity slowing and with major reforms planned in the region, spending and sentiment in the non-oil sector are expected to slowly lift.
view the Gulf Economic Monitor Issue 1, June 2017: Sustaining Fiscal Reforms in the Long-term
Oil prices on the back foot despite OPEC cut extension
June 13, 2017--Surveying the oil markets at the start of May, when prices were under pressure and ranging between $49-$51 per barrel (bbl), OPEC ministers could be forgiven for believing that a decision to extend their six-month production cut agreement for an additional nine months, to March 2018, would be just the prescription to boost the oil price.
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Emaar, DSI buoy Dubai; Qatar recovers as minister reassures on crisis
June 12, 2017--Qatar's stock market rebounded on Monday from sharp falls last week after the finance minister said the economy was essentially operating as normal despite the region's diplomatic crisis, while property-related shares buoyed the United Arab Emirates.
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Dubai non-oil economy growth slows to seven month low
June 11, 2017--Economic growth momentum in Dubai is fading with pace of business activities slowing to new low in several months, according to a new survey.
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Iran's Main Bourse Gains 88% In 4 Years
June 10, 2017--Major indicators improved in Tehran Stock Exchange between 2012-2016.
Tehran Stock Exchange's Market Capitalization was around IRR 171 trillion in 2012. The figure was raised above IRR 322 trillion after 4 years in 2016.
Based on a report by the Exchange's R&D Department, the average P/E ratio was recorded as 5.35 in the beginning of the period and reached 6.84 in the end of 2016.
Blue chips help Qatar rebound, weak oil prices hit Saudi
June 8, 2017-- Qatar's stock market rebounded in early trade on Thursday after losing 9.7 percent since neighbouring Arab states cut diplomatic and trade relations with it early this week, while an overnight plunge in oil prices weighed on Saudi Arabia's bourse.
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Qatari bonds extend losses after S&P downgrade, CDS rise
June 8, 2017-- Qatari sovereign dollar bonds extended losses on Thursday to approach three-month lows and the cost of insuring exposure to the kingdom's debt rose to the highest level since mid-November, after a credit ratings downgrade.
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World Gold Council-Gold-backed ETF holdings up 10.5t to 2,291.9t in May
June 8, 2017--At the end of May, total holdings in gold-backed ETFs and similar products stood at 2,291.9t (73.7moz), 10.5t higher from April. These holdings were valued at US$93.3bn, largely flat compared to a month earlier.
European inflows more than doubled the North American outflows: holdings increased 20.8t (+2%) to 967.2 in Europe, while North American funds lost 7.2t to 1,214.0t. Asian funds shed 2.0t (-3%) to 64.5t and funds in the other region lost 1.1t to 46.1t.
Qatar's credit rating lowered amid GCC spat
June 8, 2017--S&P has placed it on negative watch on concerns of a prolong tiff with Gulf states and economic blockade
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