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Search resuls for: "Emaar"


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☆ Saudi Arabia approves dual listing of Pizza Hut, KFC franchisee
  + stars: | 2022-10-31 | by ( ) www.reuters.com   time to read: 1 min
DUBAI, Oct 31 (Reuters) - Saudi Arabia's market regulator said on Monday it had approved a concurrent and dual listing of Americana Group, the Middle East and North Africa franchisee of fast-food chains KFC and Pizza Hut, in the kingdom and the United Arab Emirates (UAE). Americana has approval to sell 30% of its shares, which will be the first to trade in both the UAE and Saudi Arabia. The Capital Market Authority said the approval was for a dual registration in the two countries and an offering of 2.53 billion shares. Americana is owned by Saudi Arabia's Public Investment Fund (PIF) and an investment consortium led by Dubai businessman Mohammed Alabbar, founder of Dubai-listed Emaar Properties (EMAR.DU). ($1 = 3.7568 riyals)Reporting by Hadeel Al Sayegh Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
☆ Saudi shares rise on upbeat economic data, Dubai stocks fall
  + stars: | 2022-10-31 | by ( ) www.reuters.com   time to read: +2 min
Oct 31 (Reuters) - Saudi Arabia shares rose on Monday helped by strong economic data and some upbeat corporate results, while the Dubai index fell ahead of the U.S. Federal Reserve meeting. The benchmark Saudi index (<.TASI>) inched up 0.3%, erasing previous session's losses. The index was lifted by a 2.8% rise in Saudi National Bank's (<1180.SE>) shares. Saudi oil giant Aramco rose 0.4%, extending gains. The Dubai market declined as investors worldwide remain cautious ahead of the Fed's interest rate decision, said Wael Makarem, senior market strategist, MENA at Exness.
☆ UAE stock markets ease as oil prices fall on China COVID curbs
  + stars: | 2022-10-28 | by ( Md Manzer Hussain | ) www.reuters.com   time to read: +1 min
Oct 28 (Reuters) - Stock markets in United Arab Emirates ended lower on Friday as oil prices fell after top crude importer China widened its COVID-19 curbs. In Abu Dhabi, the index (<.FTFADGI>) dropped 0.1%, pressured by a 0.5% dip in the country's largest lender First Abu Dhabi Bank (<FAB.AD>), while Abu Dhabi Polymers Co Borouge (<BOROUGE.AD>) was down 1.4% after reporting more than 23% decline in third-quarter net profit. However, the index gained 5.5% this month, as it ended the week 1.7% higher according to Refinitiv data. "The Abu Dhabi stock market slowed down after yesterday's surge as traders moved to secure their gains. Major stock markets elsewhere in the Gulf region were closed.
☆ Most Gulf markets retreat on falling oil prices
  + stars: | 2022-10-24 | by ( Ateeq Shariff | ) www.reuters.com   time to read: +3 min
Oct 24 (Reuters) - Most stock markets in the Gulf fell on Monday with lower oil prices, although the Saudi index erased early losses to close higher. Crude prices, a key catalyst for Gulf markets, slid after Chinese data showed that demand from the world's largest crude importer remained lacklustre in September as strict COVID-19 policies and fuel export curbs depressed consumption. In Abu Dhabi, the index (<.FTFADGI>) dropped 0.5% with the country's biggest lender First Abu Dhabi Bank (<FAB.AD>) down 0.6%. The Dubai stock market is seeing some volatility while global sentiment remains uncertain, said Wael Makarem, senior market strategist at Exness. Outside the Gulf, Egypt's blue-chip index (<.EGX30>) gained 0.6%, led by a 2.5% rise in Commercial International Bank Egypt (<COMI.CA>).
☆ Most Gulf markets in red ahead of U.S. inflation data
  + stars: | 2022-10-13 | by ( Ateeq Shariff | ) www.reuters.com   time to read: +2 min
Oct 13 (Reuters) - Most stock markets in the Gulf ended lower on Thursday, ahead of U.S. inflation data which is likely to shape the size of the Federal Reserve's next interest rate hike. read moreThe Saudi market could continue seeing negative performances while oil markets continue to show downside risk, said Farah Mourad, senior market analyst of XTB MENA. In Abu Dhabi, the index (<.FTFADGI>) eased 0.4%, with the UAE's biggest lender First Abu Dhabi Bank (<FAB.AD>) falling 1.3%. Outside the Gulf, Egypt's blue-chip index (<.EGX30>) retreated 0.5%, ending two sessions of losses, helped by a 0.8% increase in top lender Commercial International Bank Egypt (<COMI.CA>). Register now for FREE unlimited access to Reuters.com RegisterReporting by Ateeq Shariff in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
☆ Gulf bourses track global shares, oil prices lower
  + stars: | 2022-10-10 | by ( Ateeq Shariff | ) www.reuters.com   time to read: +2 min
Oct 10 (Reuters) - Stock markets in the Gulf fell on Monday, tracking global shares and oil prices lower, with the Saudi index extending losses for a third session. Global shares dropped after Russian missiles pounded cities across Ukraine and as renewed concern about the economic outlook sent investors into safe-haven assets such as the dollar and bonds. Register now for FREE unlimited access to Reuters.com RegisterThe negative performance came after a volatile week during which investors continued to contemplate global economic conditions, said Wael Makarem, senior market strategist at Exness. In Abu Dhabi the index (<.FTFADGI>) dropped 0.8%, with the country's biggest lender First Abu Dhabi Bank (<FAB.AD>) losing 1.2%. The listing is the latest in a string of IPOs in the Gulf that have defied wider market trends.
☆ Most Gulf bourses retreat as Russia threats add to Fed jitters
  + stars: | 2022-09-21 | by ( Ateeq Shariff | ) www.reuters.com   time to read: +2 min
Register now for FREE unlimited access to Reuters.com RegisterBahraini traders are pictured in Bahrain Bourse in Manama, Bahrain, November 5, 2020. REUTERS/Hamad I MohammedSept 21 (Reuters) - Most stock markets in the Gulf fell on Wednesday as investors braced for a hefty interest rate hike from the U.S. Federal Reserve, while escalating tension between Russia and Ukraine added to concerns. Saudi Arabia's benchmark index (.TASI) dropped 0.4%, hit by 0.6% falls in both Al Rajhi Bank (1120.SE) and oil giant Saudi Aramco (2222.SE). Outside the Gulf, Egypt's blue-chip index (.EGX30) fell 0.6%, snapping two sessions of gains. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ateeq Shariff in Bengaluru; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.
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