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☆ Iran flaunts a new ship-fired missile, but analysts say it's no game-changer
▼ + stars: | 2024-02-21 | by ( Paul Iddon | ) www.businessinsider.com time to read: +6 min

It's the first time Iran has launched a ballistic missile from a ship. The launch from the Shahid Mahdavi was, however, the first time Iran launched a ballistic missile from a ship. "The other benefit to Iran of this kind of weapon is it could attack Israel from axes that are less well-protected by Israeli missile defenses." AdvertisementDeploying SRBMs instead of cruise missiles on the Shahid Mahdavi and similar vessels could also have advantages. For one, the ballistic missiles Iran test-fired on Feb. 12 appear relatively small, around the same size as a cruise missile.

Persons: —, Fateh, Shahid Mahdavi, Bryan Clark, Hossein, Shahid, Ryan Bohl, RANE, Clark, Bohl Organizations: Service, Islamic Revolutionary Guard Corps, Hudson Institute, GCC, Gulf Cooperation, Iran, East Locations: Iran, Saudi Arabia, Israel, North Africa, Iraq, Syria, Lebanon, Tehran, Idlib, Russia

☆ Most Gulf markets fall on weak oil; Saudi gains
▼ + stars: | 2023-12-03 | by ( ) www.reuters.com time to read: +2 min

A general view shows the Dubai Financial Market after Joe Biden wins U.S. presidency, in Dubai, United Arab Emirates November 8, 2020. REUTERS/Christopher Pike/File Photo Acquire Licensing RightsDec 3 (Reuters) - Most stock markets in the Gulf ended lower on Sunday, in response to Friday's fall in oil prices, although the Saudi index bucked the trend to close higher. Oil prices - a catalyst for the Gulf's financial markets - slumped more than 2% on Friday on investor scepticism over the depth of OPEC+ supply cuts and concern about sluggish global manufacturing activity. Saudi Arabia's benchmark index (.TASI) gained 0.4%, with oil giant Saudi Aramco (2222.SE) rising 0.5% and Arabian Pipes Co (2200.SE) advancing 5.4%. Outside the Gulf, Egypt's blue-chip index (.EGX30) lost 0.7%, with Commercial International Bank (COMI.CA) declining 2%.

Persons: Joe Biden, Christopher Pike, Jerome Powell, Ateeq, Bernadette Baum, Sharon Singleton Organizations: Dubai Financial, United Arab Emirates, REUTERS, Qatar Islamic Bank, Saudi Aramco, Arabian Pipes, Federal, Gulf Cooperation Council, U.S ., Commercial International Bank, Thomson Locations: Dubai, United Arab, Saudi, OPEC, Saudi Arabia, Ateeq Shariff, Bengaluru

☆ Ray Dalio hails the Gulf's 'renaissance states' amid a period of 'greater disorder' globally
▼ + stars: | 2023-11-28 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

Ray Dalio speaks during the 2023 Forbes Iconoclast Summit at Pier 60 on June 12, 2023 in New York City. We're now talking about a renaissance state here that happens within this greater geopolitical and economic environment," Dalio told CNBC's Dan Murphy on Tuesday. The UAE "is a renaissance state," Dalio said. Amid higher oil prices in recent years, the region's mammoth sovereign wealth funds had ever more to spend. The region's combined 10 largest sovereign wealth funds managed some $4 trillion in early 2023, according to the Sovereign Wealth Fund Institute.

Persons: Ray Dalio, ABU, Dalio, CNBC's Dan Murphy, Dalio's Organizations: Forbes, Getty, United, United Arab Emirates, Bridgewater Associates, United Arab, CNBC, Abu, Abu Dhabi Finance, GCC, Gulf Cooperation, Dalio's Bridgewater Associates, Pensions & Investments, The, Dubai International Financial, Sovereign Wealth Fund, —, Saudi Arabia's Public Investment Fund Locations: New York City, Taylor, ABU DHABI, United Arab, Gulf, United Arab Emirates, Abu Dhabi, U.S, Singapore, The UAE, UAE, Saudi Arabia, Dubai, London, New York, France

☆ Why calls for oil embargo on Israel are unlikely to go anywhere
▼ + stars: | 2023-11-21 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +4 min

A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) on their headquarters in Vienna, Austria, June 2, 2023. The conflict has led many analysts, oil market watchers and politicians to draw parallels with the 1973 OPEC embargo, when Arab oil producers cut off oil exports to several allies of Israel, including the United States and Britain, following the Israeli-Arab war that year. Analysts and OPEC sources, however, say that the energy world today is far different from 50 years ago, and play down any possibility of a new embargo. Last month, Iranian Foreign Minister Hossein Amirabdollahian urged members of the Organisation of Islamic Cooperation (OIC) to impose an oil embargo and other sanctions on Israel and expel all Israeli ambassadors. The embargo led to severe shortages with long queues forming at gas stations.

Persons: Leonhard Foeger, Israel, Hossein Amirabdollahian, Ayatollah Ali Khamenei, Ebrahim Raisi, JPM Morgan, Giovanni Staunovo, Morgan Bazilian, Mark Heinrich, Jason Neely Organizations: Organization of, Petroleum, REUTERS, Hamas, of, Reuters, Iranian, of Islamic Cooperation, OIC, Arab, Israel, GCC, Gulf Cooperation, UBS, Payne Institute, Thomson Locations: Vienna, Austria, Gaza, Iran, Israel, United States, Britain, Russia, OPEC, Riyadh, Saudi Arabia, Netherlands, Japan, U.S, Asia, China, India

☆ Most Gulf markets gain on rising oil prices
▼ + stars: | 2023-11-19 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

REUTERS/Christopher Pike Acquire Licensing RightsNov 19 (Reuters) - Most stock markets in the Gulf ended higher on Sunday in response to Friday's rise in oil prices, with the Saudi index rising for a fourth consecutive session. Oil prices - often a catalyst for the Gulf's financial market - jumped more than 4% on Friday, rebounding from a 4-month low, with U.S. sanctions on some Russian oil shippers lending support. Saudi Arabia's benchmark index (.TASI) gained 0.5%, with oil giant Saudi Aramco (2222.SE) gaining 0.3% and the country's biggest lender Saudi National Bank (1180.SE) advancing 1.5%. In Qatar, the index (.QSI) closed 0.2% higher, helped by a 1% rise in the Gulf's biggest lender Qatar National Bank (QNBK.QA). Outside the Gulf, Egypt's blue-chip index (.EGX30) advanced 2.1%, buoyed by a 3.8% jump in Commercial International Bank (CIB) (COMI.CA).

Persons: Joe Biden, Christopher Pike, Kristalina Georgieva, Ateeq, Alex Richardson Organizations: Dubai Financial, United Arab Emirates, REUTERS, Saudi, Saudi Aramco, Saudi National Bank, Qatar National Bank, Gulf Cooperation Council, U.S . Federal Reserve, International Bank, CIB, Egypt's, European Bank for Reconstruction, Monetary Fund, Reuters, Thomson Locations: Dubai, United Arab, Saudi, Qatar, Israel, Ateeq Shariff, Bengaluru

☆ Multipolar world opens up surprising safe havens
▼ + stars: | 2023-11-17 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

This new-look cap table leaves the U.S. much more vulnerable to the vagaries of foreign investors than before. In a crisis, foreign investors would rush to buy even more U.S. debt. Reuters GraphicsA less orthodox option would be to invest in emerging markets instead. The last time net equity investment in the U.S. NIIP dipped close to negative territory was as the dot-com bubble was deflating in 2001. In the next six years the U.S. saw net equity outflows equivalent to nearly 30% of GDP.

Persons: Hubert Védrine, Xi Jinping, Joe Biden, ’, Donald Trump’s, exceptionalism, NIIP, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Reuters, French, U.S, United, United States, Treasury, Equity, U.S . Treasury, Japan, Democratic, Cooperation Council, Peterson Institute for International, Fed, ECB ”, Thomson Locations: United States, tatters, United, U.S, China, Hong Kong, Switzerland, Singapore, Saudi Arabia, South Africa, Argentina, Mexico, Brazil, Vietnam, India, Chile, Democratic Republic of, Congo, Washington

Signs of Chinese yuan and U.S. dollar are seen at a currency exchange store in Shanghai, China August 8, 2019. "I hope over time, we will be more than just a Middle East investor in China. I want us to be perceived also as a local Chinese investor," Ben-Gacem told Reuters, adding that the final fundraising size will depend on investor appetite and market conditions. Some private equity and venture funds are stepping up efforts to raise yuan funds. ($1 = 7.2884 Chinese yuan renminbi)Reporting by Roxanne Liu and Kane Wu; Editing by Sumeet Chatterjee and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Investcorp, Investcorp's, Hazem Ben, Gacem, Ben, Mubadala, LSEG, China Everbright, Fung, Roxanne Liu, Kane Wu, Sumeet Chatterjee, Gerry Doyle Organizations: REUTERS, Rights, Reuters, Electronics, Middle, Rongsheng Petrochemical, CYVN Holdings, NIO Inc, Gulf Cooperation Council, Thomson Locations: Shanghai, China, Rights BEIJING, Bahrain, East, Abu Dhabi, Investcorp, Shandong, Tengzhou, Middle East, Gulf, U.S, Hong Kong, Chinese, Guangdong, Macau

UNITED NATIONS (AP) — China, Iran and a multitude of Arab nations condemned an Israeli minister’s statement that a nuclear bomb on the Gaza Strip was an option in the Israel-Hamas war, calling it a threat to the world. It is widely believed to possess nuclear weapons, and a former employee at its nuclear reactor served 18 years in Israeli prison for leaking details and pictures of Israel’s alleged nuclear arsenal program to a British newspaper in 1986. He urged Israel to stop “such rhetoric or posturing” and join the Nuclear Nonproliferation Treaty as a non-nuclear weapon state. Ambassador Amir Iravani told the conference the nuclear threats directed toward Palestinians by high-ranking Israeli officials highlight Israel’s “pride” in having these weapons in its hands. “The secrecy surrounding Israel’s nuclear capabilities poses a significant threat to regional stability,” he said.

Persons: Amihai Eliyahu, Benjamin Netanyahu, U.N, Geng Shuang, Geng, Izumi Nakamitsu, ” Nakamitsu, Mohamed Al, Hassan, Gaza “, ”, d’Affaires Hadi Hachem, Amir Iravani, “, ” Israel, Netanyahu, Mikhail Ulyanov, “ there’s Organizations: UNITED NATIONS, United Nations, Israel’s Heritage, British, Gulf Cooperation, U.N Security, IAEA, Nuclear Locations: China, Iran, Gaza, Israel, Beijing, Saudi Arabia, Vienna, Moscow, United States, United Kingdom

☆ Why oil is down since the Hamas-Israel conflict started and whether that can last
▼ + stars: | 2023-11-08 | by ( Spencer Kimball | ) www.cnbc.com time to read: +8 min

A risk premium should be present somewhere in oil prices, Papic wrote. "If the Hamas attack leads to a regional conflict in the world's most important oil producing geography, then oil prices should catch a bid… any bid. Beijing's crude oil imports rose in October, but the country's overall exports fell more than expected, indicating the global economy may be slowing. The biggest risk for oil prices is a decline in Iranian oil exports by 300,000 to 500,000 barrels per day, the bank cautioned. The U.S. House of Representatives last week passed a bill to harden sanctions on Tehran's crude exports in an overwhelming bipartisan vote following the Hamas' attacks.

Persons: Netanyahu, Marko Papic, Papic, Oil's, Ellen Wald, Wald, Ayatollah Ali Khamenei, Giovanni Staunovo, Staunovo, Joe Biden, Mike Rothman, Rothman Organizations: Brent, West Texas, Clocktower, U.S . Energy, UBS, OPEC, U.S . House, Iran's, Bank, World Bank, Gulf Cooperation Council, GCC, Washington, Cornerstone Analytics, JPMorgan Locations: Israel, @CL, Gaza, Yemen, Lebanon, Iran, Syria, China, U.S, Europe, Saudi Arabia, Russia, Strait, Hormuz, Ukraine, Riyadh, India, Japan, South Korea, Republic, Staunovo, Tehran, Gulf States

☆ Most Gulf markets end higher after US job market softens
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

A trader looks on near electronic boards showing stock market data at Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020. Most Gulf Cooperation Council countries, including the UAE, peg their currencies to the U.S. dollar and follow the Fed's policy moves closely. Saudi Arabia's benchmark index (.TASI) gained 0.8%, with oil giant Saudi Aramco (2222.SE) rising 0.5% and Lumi Rental Co (4262.SE) finishing 1.7% higher. Outside the Gulf, Egypt's blue-chip index (.EGX30) closed 2% higher, led by a 2.1% rise in Commercial International Bank (COMI.CA). On Friday, the lender reported third-quarter net income of 8.35 billion Egyptian pounds ($270.66 million), up 89% year-on-year.

Persons: Joe Biden, Hamad I Mohammed, Detroit's, Jerome Powell, Ateeq, David Goodman, Sharon Singleton Organizations: Bahrain Bourse, U.S, REUTERS, Federal, United Auto Workers, UAW, Gulf Cooperation, U.S ., Saudi Aramco, Lumi, Reuters, Industries Qatar, Commercial International Bank, Thomson Locations: Bahrain, Manama, U.S, Gulf, UAE, Saudi, Ateeq Shariff, Bengaluru

☆ Premarket stocks: Big Tech earnings can make or break this market
▼ + stars: | 2023-10-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —In an unstable economic climate marked by geopolitical unrest, concerns about the Federal Reserve and soaring Treasury yields, investors are closely watching this week’s Big Tech earnings for clues about where the volatile stock market may head next. That means investors are watching their earnings particularly closely for prognostications about where the market is headed next. Big tech controls the market: Excluding Big Tech, the average earnings for S&P 500 companies would drop by 5% this quarter, according to Bloomberg Intelligence data. “Big Tech valuations pose risks for the broader markets, as Big Tech has contributed to almost all of the stock market’s year-to-date gains,” said David Bahnsen, chief investment officer of the Bahnsen Group. “This lack of market breadth suggests that investors are still highly prone to chasing momentum and getting overly excited about different market themes and stories, such as artificial intelligence.”It also suggests that there’s not a lot of room for any Big Tech earnings missteps.

Persons: —, ”, David Bahnsen, there’s, Louis Navellier, Matt Egan, ” Brian Nelson, Samantha Murphy Kelly Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Big Tech, Microsoft, Google, Nvidia, Apple, Bloomberg Intelligence, Bahnsen, Navellier, Associates, Treasury Department, Gulf Cooperation, United, United Arab Emirates, Saudi, GCC, Treasury, Hamas, United Arab, Mac, IDC Locations: New York, States, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, United Arab, Israel, US, Riyadh, United States, Sudan, Algeria, Turkey, United Arab Emirates, Treasury’s

☆ US teams with Middle Eastern nations to target 'secret' Hamas investment portfolio as Israeli forces prepare for operation in Gaza
▼ + stars: | 2023-10-24 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —The United States along with some Middle Eastern nations are stepping up efforts to target a “secret” Hamas investment portfolio government officials believe to be worth up to $1 billion. To target the Hamas investment portfolio, a US official said Tuesday the Treasury Department is working with members of the Gulf Cooperation Council: Saudi Arabia, Qatar, Kuwait, Oman, Bahrain and the United Arab Emirates. The official added that the portfolio is generating significant amounts of revenue for Hamas. Hamas' armed wing, the Izz ad-Din al-Qassam Brigades destroy an Israeli forces' tank near Gaza City, Gaza on October 07. Hani Alshaer/Anadolu Agency/Getty ImagesNelson urged the Gulf nations to share more information on the parts of the Hamas financial ecosystem “vulnerable to disruption” and called on member countries to take action.

Persons: ” Brian Nelson, Hani Alshaer, Nelson, ” Nelson, ”, Wally Adeyemo, Adeyemo, FinCEN Organizations: New, New York CNN, Treasury Department, Gulf Cooperation, United, United Arab Emirates, Saudi, GCC, Treasury, Hamas, United Arab, Anadolu Agency, Getty, ”, Network Locations: New York, United States, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, United Arab, Israel, US, Riyadh, Sudan, Algeria, Turkey, United Arab Emirates, Treasury’s, Gaza City, Gaza, Europe

☆ Gulf bourses drop amid hawkish Fed tone, Mideast conflict
▼ + stars: | 2023-10-22 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +2 min

REUTERS/Hamad I Mohammed/File photo Acquire Licensing RightsOct 22 (Reuters) - Stock markets in the Gulf fell on Sunday amid warnings of possible further interest rate hikes from the U.S Federal Reserve, and worries of escalation in the Middle East conflict. Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by Fed policy decisions because most regional currencies are pegged to the U.S. dollar. Saudi Arabia's benchmark index (.TASI) was down for a third consecutive session, ending 1.5% lower, with all sectors in the red. Elm Company (7203.SE) dropped 2.3%, while Al Rajhi Bank (1120.SE), the world's largest Islamic bank by assets, slipped 2.1%. The Qatari index (.QSI) fell for a fifth straight session, ending 0.9% lower, with Industries Qatar (IQCD.QA) dropping 2.2% and Qatar Navigation (QNNC.QA) sliding 3%.

Persons: Joe Biden, Hamad I Mohammed, Jerome Powell, Talaat Mostafa, Md Manzer Hussain, David Holmes Organizations: Bahrain Bourse, U.S, REUTERS, Stock, U.S Federal Reserve, Gulf Cooperation Council, U.S ., Elm Company, Al Rajhi Bank, Industries Qatar, Qatar Navigation, Qatar National Bank, Eastern Co, Gaza, Thomson Locations: Bahrain, Manama, Saudi, Israel, Lebanon, Syria

☆ Saudi Arabia, UAE leaders meet as Israel-Hamas war threatens to spill over
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

Saudi state news agency SPA showed footage of Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, receiving UAE President Mohammed bin Zayed Al Nahyan at Riyadh's airport. Public meetings between the crown prince and Sheikh Mohammed have been rare in recent years as the close allies competed for investment and regional influence. Sheikh Mohammed attended a summit between the Gulf Cooperation Council (GCC) and the Association of Southeast Asian Nations (ASEAN) in Riyadh on Friday, Saudi and UAE state media said. Last year, Prince Mohammed and Sheikh Mohammed met when Prince Mohammed visited Abu Dhabi to offer his condolences on the death of Sheikh Khalifa, the UAE's previous president. Sheikh Mohammed also visited Jeddah last year, and the two leaders met on the sidelines of the G20 summit in November.

Persons: Prince Mohamed bin Salman bin Abdulaziz, Crown Prince, Sheikh Mohamed bin Zayed Al Nahyan, Prince Mohammed bin Salman, Mohammed bin Zayed Al Nahyan, Sheikh Mohammed, Prince Mohammed, Abu, Sheikh Khalifa, Aziz El Yaakoubi, Kirsten Donovan Organizations: Defence, United Arab Emirates, Gulf Cooperation Council, Association of Southeast Asian Nations, ASEAN, GCC, Thomson Locations: RIYADH, SAUDI ARABIA, Saudi Arabia, Saudi, Israel, East, Riyadh's, Riyadh, UAE, Iran, Gaza, Abu Dhabi, Jeddah

☆ UAE and South Korea complete talks for bilateral trade deal
▼ + stars: | 2023-10-14 | by ( Rachna Uppal | ) www.reuters.com time to read: +2 min

Trade and investment ties between the Gulf state and South Korea have been steadily advancing; in the first half of 2023, bilateral non-oil trade reached $3 billion, similar to the same period last year, but up 21% over 2021, a statement said. South Korea was one of the first countries with which the Gulf state launched talks for a CEPA in 2021. Three months later however, the Asian state revived dormant Free Trade Agreement (FTA) talks with the six-member Gulf Cooperation Council bloc, of which the UAE is a member. "We resumed talks with Korea earlier this year as we were both keen to conclude a deal and advance our respective economic agendas," Thani Al Zeyoudi, UAE minister of foreign trade, told Reuters, adding the GCC FTA talks remained ongoing. It has said it does not mix politics with trade, when asked whether the Israel-Gaza conflict would have an impact on the Gulf state's trade deal with Israel.

Persons: Yeo Han, koo, Zeyoudi, Rachna Uppal, Sharon Singleton Organizations: South Korean Trade, United Arab Emirates Minister, State for Foreign Trade, United Arab, . Trade, Korea Electric Power Corporation, Gulf Cooperation Council, Reuters, Israel, Thomson Locations: State for Foreign Trade Thani, Dubai, United Arab Emirates, DUBAI, South Korea, Gulf, Abu Dhabi, Korea, UAE, Thani, Zeyoudi, Israel, Turkey, India, Indonesia, Gaza

A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. Brent crude oil futures were up 55 cents to $91.26 a barrel by 1:01 p.m. EDT (1701 GMT), after falling to a session low of $89.50, the lowest price since Sept. 8. Higher interest rates and a stronger dollar make oil more expensive for holders of other currencies, which could dampen oil demand. Talks to restart Iraqi oil exports via a crude oil pipeline that runs through Turkey are still ongoing, an Iraqi oil official told Reuters on Tuesday, a day after Turkey said operations would start again this week after nearly a six-month stoppage. U.S. crude inventories were expected to have fallen by about 500,000 barrels last week, a preliminary Reuters poll showed on Monday.

Persons: Alexander Manzyuk, Phil Flynn, Alexander Novak, Stephanie Kelly, Natalie Grover, Laura Sanicola, Trixie Yap, Marguerita Choy, Mark Potter, Paul Simao Organizations: REUTERS, Brent, . West Texas, U.S ., Federal Reserve, Price Futures Group, Investors, Organization of, Petroleum, Reuters, Gulf Cooperation, BMI Research, Thomson Locations: Republic of Tatarstan, Russia, Saudi Arabia, OPEC, Asia, Turkey, Gulf, Iraq

A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. Brent crude oil futures were down 10 cents to $90.61 a barrel by 11:15 a.m. EDT (1515 GMT), after falling to a session low of $89.50, the lowest since Sept. 8. Higher interest rates and a stronger dollar make oil more expensive for holders of other currencies, which could dampen oil demand. Talks to restart Iraqi oil exports via a crude oil pipeline that runs through Turkey are still ongoing, an Iraqi oil official told Reuters on Tuesday, one day after Turkey said operations would start again this week after a near six-month stoppage. U.S. crude inventories were expected to have fallen by about 100,000 barrels last week, a preliminary Reuters poll showed on Monday.

Persons: Alexander Manzyuk, Phil Flynn, Craig Erlam, Stephanie Kelly, Natalie Grover, Laura Sanicola, Trixie Yap, Marguerita Choy, Mark Potter Organizations: REUTERS, Wednesday, Brent, . West Texas, U.S ., U.S, Reserve, Futures, Investors, Organization of, Petroleum, Reuters, Gulf Cooperation, BMI Research, Thomson Locations: Republic of Tatarstan, Russia, OPEC, Saudi Arabia, Asia, Turkey, Gulf, Iraq, .

☆ Gulf stocks mixed amid rate hike woes; Egypt outperforms
▼ + stars: | 2023-09-24 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +1 min

The Qatari benchmark stock index (.QSI) fell 0.3%, dragged down by almost all the sectors with financials leading the declines. Qatar National Bank (QNBK.QA), the Gulf's biggest lender, was down 0.7% while heavyweight Commercial Bank (COMB.QA) dropped 1.3%. Kuwait's premier market index (.BKP) fell 1.6%, its 7th consecutive session of losses, as most of its constituents were in negative territory. Outside the Gulf, Egypt's blue-chip index (.EGX30), closed up 0.6%, hitting an all-time high. Reporting by Shamsuddin Mohd in Bengaluru; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Shamsuddin, Emelia Sithole Organizations: Federal, Gulf Cooperation, greenback, Qatar National Bank, Commercial Bank, Chemical Industries, Misr Fertilizer, Stock, UAE bourse, Thomson Locations: Abu, Saudi Arabia, UAE, Bengaluru

☆ GCC countries, US call for completion of demarcation of Kuwaiti-Iraqi maritime borders
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] U.S. Secretary of State Antony Blinken listens to Gulf Cooperation Council Secretary General Jasem Mohamed AlBudaiwi as they attend a breakfast with the Foreign Ministers of the Gulf Cooperation Council Nations, Monday, Sept. 18, 2023, in New York, U.S. Craig Ruttle/Pool via REUTERS/file photo Acquire Licensing RightsCAIRO, Sept 20 (Reuters) - Gulf Cooperation Council (GCC) countries and the U.S., in a joint statement on Wednesday, called for the completion of demarcation of Kuwaiti-Iraqi maritime borders "beyond boundary point 162". The statement comes after a meeting of GCC Arab foreign ministers, U.S. Secretary of State Antony Blinken and GCC Secretary-General Jasem al-Budaiwi in New York. They also called on the Iraqi government to "expeditiously resolve the domestic legal status of the 2012 Kuwait-Iraq Agreement to regulate maritime navigation in Khor Abdullah and ensure that the agreement remains in force." The joint statement also "called on Iraq and the UN to exert maximum efforts to reach a resolution of all the issues involved." Reporting by Enas ALashray, Muhammad Al Gebaly; Editing by Christopher Cushing and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Antony Blinken, General Jasem Mohamed AlBudaiwi, Craig Ruttle, Jasem, Khor Abdullah, Enas ALashray, Muhammad Al Gebaly, Christopher Cushing, Jacqueline Wong Organizations: Cooperation, Foreign Ministers, Gulf Cooperation Council Nations, Rights, Gulf Cooperation Council, GCC, UN, United Nations, Thomson Locations: New York, U.S, Rights CAIRO, Kuwaiti, Iraqi, Kuwait, Iraq, Khor

☆ Major Gulf markets little changed ahead of Fed decision
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Christopher Pike Acquire Licensing RightsSept 20 (Reuters) - Major stock markets in the Gulf were little changed in early trade on Wednesday ahead of the U.S. Federal Reserve's interest rate decision. Investors are awaiting a raft of central bank interest rate decisions this week to assess the outlook for economic growth and fuel demand. The U.S. central bank is widely expected to keep interest rates on hold, but the focus will be on its projected policy path. The six-member Gulf Cooperation Council's monetary policy is usually guided by the Fed's decision as most regional currencies are pegged to the U.S. dollar. The Qatari benchmark (.QSI) rose 0.1%, helped by a 0.7% rise in the Gulf's biggest lender Qatar National Bank (QNBK.QA).

Persons: Joe Biden, Christopher Pike, Ateeq, Sohini Goswami Organizations: Dubai Financial, U.S, United Arab Emirates, REUTERS, Gulf Cooperation, U.S ., Development, Saudi Aramco, Qatar National Bank, Thomson Locations: Dubai, United Arab, U.S . Federal, U.S, Saudi, Dar Al Arkan, Yemen, Riyadh, Abu Dhabi, Ateeq Shariff, Bengaluru

☆ Morgan Stanley says higher oil prices could boost these 2 global real estate stocks
▼ + stars: | 2023-09-19 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The recent increase in oil prices could provide a boost to London's prime office real estate market, according to Morgan Stanley. According to their analysis, higher oil prices tend to correlate with increased demand for top-tier commercial properties. When oil prices rise above this threshold, the excess profits are invested by its sovereign wealth fund, PIF, in assets around the world, including tech stocks. Morgan Stanley says that in the past, a similar rise in oil prices has preceded strong 12-month share price performance for London office REITs (real estate investment trusts). For Derwent London, Morgan Stanley forecasts the stock reaching £27.00 ($33.43), up 45% from current levels, within 12 months.

Persons: Morgan Stanley, Bart Gysens Organizations: Bank of London, Cooperation Council, Monetary Fund, GCC, Saudi, London, Derwent, Great Portland Estates, Derwent London, Great Locations: London, WTI, Great Portland

However, Iran faces a new challenge from within as the one-year anniversary of the nationwide protests sparked by the death of 22-year-old Mahsa Amini in police custody approaches this Saturday. Today, Iran faces Western sanctions after the collapse of its 2015 nuclear deal. These are Iranian money.”From the Iranian side, claiming victory has been as important as freeing the cash. “This money belongs to the Islamic Republic of Iran," Raisi said through a government translator about the swap. Iranian Foreign Minister Hossein Amirabdollahian suggested resuming negotiations over a roadmap that could see Tehran return to aspects of the nuclear deal, which the Islamic Republic walked away from last year.

Persons: Carter, ”, Walter Mondale, Matthew Miller, Behzad Nabavi, Ebrahim Raisi, Raisi, —, Ronald Reagan, Hossein Amirabdollahian, “, Matthew Lee, Jon Gambrell Organizations: United Arab Emirates, Embassy, . State Department, ”, NBC News, United Nations, U.S, Pentagon, Iranian, Islamic, Associated Press, The Associated Press, Gulf Cooperation, AP Locations: DUBAI, United Arab, Washington, Tehran, Iran, United States, Islamic Republic, South Korea, Qatar, U.S, Algier Accords, Islamic Republic of Iran, Iraq, Today, U.S ., Strait, Hormuz, Persian Gulf, Russia, Ukraine, Gulf

☆ New Mideast corridor would include trains to India, Delhi says
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

Saudi Arabia's Crown Prince Mohammed bin Salman inspects the honour guard during his ceremonial reception at the Rashtrapati Bhavan presidential palace in New Delhi, India, September 11, 2023. Asked about the proposals, Ausaf Sayeed, a secretary in the Foreign Ministry, spelled out that the corridor would include trains to India and not just links by port. Saudi Arabia is among the top exporters of petroleum to India. Sayeed said that new corridor will include ports, railways, better roads and also power, gas grids and optical fiber network. During their talks earlier in the day the Indian leader and the Saudi crown prince also discussed cooperation in space, semiconductors and collaboration in defence manufacturing as well.

Persons: Crown Prince Mohammed bin Salman, Stringer, Ausaf, Khalid Al Falih, Prince Mohammed bin Salman's, Sayeed, Shivam Patel, Krishn Kaushik, Ed Osmond, Angus MacSwan Organizations: Saudi, Crown, REUTERS, Foreign Ministry, European Union, United Arab, Initiative, Saudi Investment, Gulf Cooperation Council, Thomson Locations: New Delhi, India, DELHI, East, South Asia, Indian, Delhi, United States, Saudi Arabia, United Arab Emirates, Monday, Saudi

☆ The US is quietly warning its Middle East partners about the cost of stocking up on Chinese-made weapons
▼ + stars: | 2023-08-17 | by ( Paul Iddon | ) www.businessinsider.com time to read: +9 min

Chinese arms sales in the Middle East have increased by 80% over the past decade, a result of Beijing's expanding relationships there and its willingness to deliver arms faster and with fewer stipulations than Washington. FAYEZ NURELDINE/AFP via Getty ImagesMiddle Eastern countries, led by the Arab Gulf states, have for decades been major buyers of US-made weapons. Chinese arms sales to the region are "substantial and expected to continue to increase," said Ahmed Aboudouh, an associate fellow at Chatham House. "But it's just one factor among many, including varying threat perceptions of Iran among the Arab Gulf states as well as varying levels of trust between the Arab Gulf governments themselves." Paul Iddon is a freelance journalist and columnist who writes about Middle East developments, military affairs, politics, and history.

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☆ Russia and Iran's 'unprecedented' military ties worried the US, but it's starting to look like Russia can't hold up its end of the deal
▼ + stars: | 2023-07-23 | by ( Paul Iddon | ) www.businessinsider.com time to read: +8 min

Iran has supported Russia by providing it with arms to use in Ukraine. Kirby said "support is flowing both ways," with Moscow providing Tehran "an unprecedented level of military and technical support." As part of this burgeoning partnership, Iran expected to receive an unspecified number of Russian Su-35 jets, along with helicopters and even advanced S-400 air-defense systems. REUTERS/FARS NEWS/Ali ShayeganWhile Iran has never armed Russia to the extent it has in recent months, Moscow has sold Tehran considerable military hardware in the past. Paul Iddon is a freelance journalist and columnist who writes about Middle East developments, military affairs, politics, and history.

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