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He is charged with illegal campaign financing, embezzling, passive corruption and related counts. Investigators examined claims that Gadhafi’s government secretly gave Sarkozy 50 million euros for his winning 2007 campaign. The sum would be more than double the legal campaign funding limit at the time and would violate French rules against foreign campaign financing. After becoming president in 2007, Sarkozy welcomed Gadhafi to France with high honors later that year. In an unrelated case, Sarkozy was sentenced to a year of house arrest for illegal campaign financing of his unsuccessful 2012 reelection bid.

Persons: Nicolas Sarkozy, Sarkozy, ”, Moammar Gadhafi, Ziad Takieddine, Takieddine, Gadhafi, Gadhafi’s Organizations: PARIS, Sarkozy, NATO Locations: Libya, Lebanese, France

☆ France's Sarkozy in witness tampering probe linked to 2007 election campaign investigation - media
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

Former French President Nicolas Sarkozy arrives for his appeal trial on charges of corruption and influence peddling, at Paris courthouse, France, December 5, 2022. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsPARIS, Oct 6 (Reuters) - Former French President Nicolas Sarkozy was placed under formal investigation on Friday for alleged witness tampering and fraud, as part of a probe into the funding of his successful 2007 election campaign, local media reported. Lawyers for Sarkozy could not be immediately reached for comment on the reports, which cited judicial sources. Sarkozy is accused of "interfering with a witness" and "criminal association with a view to committing fraud", media said. Sarkozy, who denies any wrongdoing, is suspected of complicity in moves to falsely exonerate him in the Libyan case, which will go to trial in early 2025.

Persons: Nicolas Sarkozy, Pascal, Sarkozy, Ziad Takieddine, Dominique Vidalon, Jon Boyle Organizations: REUTERS, Rights, Thomson Locations: Paris, France, Lebanese

☆ Gulf bourses end mixed on China growth concerns
▼ + stars: | 2023-06-20 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +2 min

China on Tuesday cut two benchmark lending rates by 10 basis points each. Dubai's benchmark index (.DFMGI) extended losses to a second straight session, ending 0.3% lower. Saudi Arabia's benchmark index (.TASI) inched up 0.1%, with Dr Sulaiman Al-Habib Medical Services (4013.SE) rising 0.7% and Company for Cooperative Insurance (8010.SE) climbing 2.3%. "Oil prices remained volatile as Chinese economic recovery continues to fuel concerns among traders, affecting oil demand expectations," said Daniel Takieddine, CEO MENA at BDSwiss. Outside the Gulf, Egypt's blue-chip index (.EGX30) fell 0.4%, extending previous session losses with financial and materials sectors trading in the red.

Persons: Dr Sulaiman Al, Daniel Takieddine, Brent, Md Manzer Hussain, Eileen Soreng Organizations: Emaar, Emirates Central Cooling Systems, Emirates, Qatar National Bank, Ezdan, Habib Medical Services, Company, Cooperative Insurance, Jamjoom Pharmaceuticals, Alpha, Commercial International Bank, Ezz, Thomson Locations: Dubai, Qatar, Saudi, Abu Dhabi, China, Beijing, Alpha Dhabi, Burjeel

☆ Most Middle Eastern stock markets in red as bank worries spread
▼ + stars: | 2023-03-12 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

March 12 (Reuters) - Most stock markets in the Middle East ended lower on Sunday, with the Egyptian bourse leading the declines, in response to Friday's fall in global shares over fears of contagion following the collapse of Silicon Valley Bank (SVB) (SIVB.O). The startup-focused lender became the largest bank to fail since the 2008 financial crisis on Friday, roiling global markets and leaving billions of dollars belonging to companies and investors stranded. In Qatar, the index (.QSI) slid 1.6%, as almost all the stocks were in negative territory including Qatar Islamic Bank (QISB.QA), which tumbled 3.9%. Saudi Arabia's benchmark index (.TASI) dropped 0.8%, weighed down by a 1.7% fall in Al Rajhi Bank (1120.SE) and a 0.8% decrease in Retal Urban Development CO (4322.SE). Outside the Gulf, Egypt's blue-chip index (.EGX30) tumbled 3.1%, with 28 of thirty one stocks on the index trading red, including top lender Commercial International Bank (COMI.CA), which was down 1.8%.

☆ Gulf markets rise on China demand optimism
▼ + stars: | 2023-01-24 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +3 min

Jan 24 (Reuters) - Gulf stock markets closed higher on Tuesday on expectations of economic recovery in the world's second largest economy, China, and smaller interest rate hikes from the U.S. Federal Reserve. Most Gulf currencies are pegged to the U.S. dollar, while Saudi Arabia, the United Arab Emirates and Qatar usually mirror U.S. monetary policy changes. The world's largest Islamic bank by market capitalization, Al Rajhi Bank (1120.SE), rose 0.8%. Qatar Islamic Bank (QISB.QA) continued its gains with a 2.3% rise and Qatar International Islamic Bank (QIIB.QA) rose 1.7%. Egypt has signed a $1.5 billion financing agreement with the International Islamic Trade Finance Corporation to fund its trading, including imports of energy products and essential commodities.

☆ Saudi ends higher on oil prices; most Gulf markets in red
▼ + stars: | 2022-12-25 | by ( Ateeq Shariff | ) www.reuters.com time to read: +1 min

Dec 25 (Reuters) - Saudi Arabian stocks climbed on Sunday in response to Friday's rise in oil prices, while most other bourses in the Gulf were in the red on global economic concerns. Oil prices settled about $3 per barrel higher on Friday for a second straight week of gains after Moscow said it could cut crude output in response to the G7 imposing a price cap on Russian exports. The Saudi bourse could maintain a stronger profile this week if oil prices continue to move to the upside, said Daniel Takieddine, CEO MENA at BDSwiss. According to Takieddine, the Qatari market saw additional price corrections after last week's pause as natural gas prices remained very volatile. Outside the Gulf, Egypt's blue-chip index (.EGX30) was down 0.7%, extending losses from the previous session.

☆ Saudi bourse at 19-month low on growth fears; Egypt extends gains
▼ + stars: | 2022-12-07 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Dec 7 (Reuters) - Saudi Arabia's stock market led declines in much of the Gulf region on Wednesday, hitting its lowest since April last year as worries mounted about a global economic downturn. The Saudi bourse could see more losses while concerns remain around the developments in oil markets, Daniel Takieddine, CEO MENA at BDSwiss, said. In Abu Dhabi, the index (.FTFADGI) lost 0.7%, with the country's biggest lender First Abu Dhabi Bank (FAB.AD) down 1.9%. The Qatari index (.QSI), which wiped out its year-to-date gains in the previous session, retreated a further 1.3%. Outside the Gulf, Egypt's blue-chip index (.EGX30) finished 2% higher, gaining for a seventh session.

☆ Egypt's index outperforms regional peers; Saudi extends losses
▼ + stars: | 2022-12-04 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +2 min

Dec 4 (Reuters) - Egypt's blue-chip index outperformed regional peers to close higher on Sunday, while Saudi and Qatari stocks slipped on weakness in the financial and petrochemical sectors. They could fall further this week after OPEC+ agreed to stick to its oil output targets on Sunday but volatility is likely to continue after G7 countries and Australia also agreed a price cap on Russian oil. Saudi Arabia's benchmark index (.TASI) fell 0.9%, with Sabic Agri-Nutrients (2020.SE) down 4.2% and Sulaiman al-Habib Medical Services (4013.SE) 1.2% lower. Separately, Saudi oil behemoth Aramco's (2222.SE) base oil subsidiary Luberef announced its IPO price range between 91 and 99 riyals each. In Qatar, the index (.QSI) finished flat, as gains in energy stocks were partially offset by losses in financial stocks.

☆ Saudi, Qatar indexes extend losses on weak oil, Egypt up
▼ + stars: | 2022-11-27 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +2 min

Nov 27 (Reuters) - Saudi Arabia and Qatar stock markets closed lower on Sunday, as uncertainties in oil prices amid Chinese COVID-19 curbs and haggling over a cap on Russian oil prices, weighed on investors' sentiments, although Egypt rose, bucking the trend. Saudi Arabia's benchmark index (.TASI) fell 1.3%, with Al Rajhi Bank (1120.SE) retreating 1.2%, while Sabic Agri-Nutrients (2020.SE) was down 3.9%. Separately, Saudi oil behemoth Aramco's (2222.SE) base oil subsidiary, Luberef, has received the approval from the kingdom's stock market regulator for an initial public offering, the Capital Market Authority said on Thursday. The Qatari index (.QSI) also dropped 1.1%, extending losses from previous session, led by its financial stocks with Qatar Islamic Bank (QISB.QA) and Commercial Bank Qatar (COMB.QA) plunging 1.9% and 2.1% respectively. "Egyptian stock market, supported by the large trading volumes by local investors, continue to maintain its strong performance" added Takieddine.

☆ UAE equities rose On IPO plan, oil prices gain
▼ + stars: | 2022-11-18 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +1 min

Nov 18 (Reuters) - Stock markets in United Arab Emirates closed higher on Friday as rising oil prices and IPO plan boosted investor sentiment in the region. UAE schools operator Taaleem Holdings priced its initial public offering at 3 dirhams ($0.8168) a share, the top end of a range announced last week. The market in neighbouring Abu Dhabi also been cheering as it got support from Middle East KFC operator Americana's IPO plan after it increased the offering size for UAE retail investors to 10% from 5%. Dubai's stock market could see some support from the successful IPOs which helped attract investors’ interest. The dynamic IPO scene could help keep the market around or above current levels, said Daniel Takieddine, CEO MENA at BDSwiss.

☆ Saudi bourse gains on rising oil prices; Egypt falls
▼ + stars: | 2022-11-06 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Nov 6 (Reuters) - Saudi Arabia's stock market ended higher on Sunday in response to Friday's sharp rise in oil prices, while the Egyptian index slipped into negative territory following a recent rally. The benchmark index (.TASI) in Saudi Arabia gained 0.7%, led by a 1.6% jump in oil giant Saudi Aramco (2222.SE) and a 0.5% increase in Al Rajhi Bank (1120.SE). In Qatar, the index (.QSI) finished 0.8% higher, with Qatar National Bank (QNBK.QA), the Gulf's biggest lender, rising 1.9%. The Qatari bourse recorded an increase with natural gas prices continuing their rebound, Daniel Takieddine, CEO MENA at BDSwiss. read moreQatar, which hosts the 2022 FIFA World Cup this month, is one of the world's largest exporters of natural gas and has benefited from huge windfalls from soaring global oil and gas prices.

☆ Saudi Shares fall on weak earnings, volatile oil
▼ + stars: | 2022-10-30 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +3 min

Most Gulf currencies are pegged to the dollar and Qatar, Saudi Arabia and the United Arab Emirates usually copy any monetary policy change in the United States. The benchmark index (<.TASI>) in Saudi Arabia declined 0.7%, pulled down by a 2% drop in SABIC Industries (<2010.SE>) shares after the company reported a lower quarterly profit. The petrochemical maker posted a quarterly net profit after zakat and tax payments of 1.84 billion riyals ($489.62 million), down from 5.6 billion riyals year ago. Another petrochemical maker Nama Chemicals (<2210.SE>) posted a quarterly loss of 5.4 million riyals compared to a profit of 4.9 million riyals year ago. Earlier, the company recorded 669.20 million Egyptian pounds ($28.12 million) during the first-quarter of fiscal year, an yearly increase of 98.97% from 336.33 million Egyptian pounds.

☆ Saudi bourse gains on strong earnings, oil prices; Qatar falls
▼ + stars: | 2022-10-23 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Oct 23 (Reuters) - Saudi Arabia's stock market ended higher on Sunday, in response to rising oil prices and strong earnings, while the Qatari index retreated amid falling natural gas prices. Post trading hours, the company reported a quarterly net profit of 269.9 million riyals ($71.82 million), up from 18 million riyals a year ago. Saudi National Bank (<1180.SE>), the country's biggest lender, inched 0.3% higher, after posting a net profit of 4.725 billion riyals ($1.26 billion) in the quarter, up from 3.98 billion riyals a year earlier. read moreThe Qatari index (<.QSI>) fell 0.5%, hit by a 1.1% fall in petrochemical maker Industries Qatar (<IQCD.QA>). "The commodity could extend losses as production outpaces expectations and warm weather limits demand, putting more pressure on the stock market," he said.

☆ Major Gulf bourses in red on volatile oil, global growth concerns
▼ + stars: | 2022-10-19 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Oct 19 (Reuters) - Major stock markets in the Gulf turned negative on Wednesday, amid volatile oil prices and concerns around global economic growth, with the Dubai index snapping four sessions of gains. The Dubai bourse was volatile as concerns about a global recession continued to weigh on traders' expectations, said Daniel Takieddine, CEO MENA BDSwiss. Register now for FREE unlimited access to Reuters.com Register"The market could see some price corrections if traders move to secure their gains." According to analyst Takieddine, the Qatari market fell on a slide in natural gas prices and remained exposed to more losses. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ateeq Shariff in Bengaluru Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi leads Gulf bourses lower on recession worries
▼ + stars: | 2022-09-25 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterBahraini traders are seen at Bahrain Bourse in Manama, Bahrain, November 4, 2020. Register now for FREE unlimited access to Reuters.com RegisterRetal Urban Development Co (4322.SE) dropped 4%, while oil behemoth Saudi Aramco (2222.SE) finished 2.6% lower. read moreThe Saudi index remains exposed to additional price corrections with oil demand expected to continue slowing down, said Daniel Takieddine, CEO MENA BDSwiss. Outside the Gulf, Egypt's blue-chip index (.EGX30) eased 0.3%, hit by a 2.1% fall in Commercial International Bank (COMI.CA). Register now for FREE unlimited access to Reuters.com RegisterReporting by Ateeq Shariff in Bengaluru; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

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