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☆ Most Gulf markets subdued on economic concerns; Dubai gains
▼ + stars: | 2022-12-26 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Dubai's main share index (.DFMGI) added 0.3%, ending three sessions of losses, helped by a 1.3% rise in sharia-compliant lender Dubai Islamic Bank (DISB.DU). Among other gainers, Islamic Arab Insurance (SALAMA) (SALAMA.DU) advanced 3.9%, after saying it is considering a proposal to acquire the insurance portfolio of Dubai Islamic Insurance and Reinsurance (Aman) (DNIN.DU). The benchmark index (.QSI) in Qatar - among the world's top exporters of liquefied natural gas - retreated 1.2%. Most stocks on the index were in negative territory including Qatar Islamic Bank (QISB.QA), which was down 2.4%. Outside the Gulf, Egypt's blue-chip index (.EGX30) climbed 1.2%, with El Sewedy Electric (SWDY.CA) surging 8.1%.

☆ Most Gulf markets firm on rising oil prices
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

Dec 22 (Reuters) - Most major stock markets in the Gulf rose in early trade on Thursday, as oil prices extended gains for a fourth session although global economic concerns limited gains. Saudi Arabia's benchmark index (.TASI) edged 0.1% higher, helped by a 0.3% increase in oil giant Saudi Aramco (2222.SE). Oil prices - a key catalyst for the Gulf's financial markets - climbed for a fourth straight day with U.S. crude, heating oil and jet fuel stocks growing tighter just as a cold snap hits the United States and travel is set to soar for the holiday season. In Abu Dhabi, the index (.FTFADGI) added 0.1%, helped by a 0.6% increase in the country's biggest lender First Abu Dhabi Bank (FAB.AD). The country, among the world's top exporters of liquefied natural gas, approved its 2023 fiscal year budget on Monday with revenue estimated to increase 16.3% next year, its finance minister said, thanks to rising average oil prices.

☆ Most Gulf markets ease on economic worries, volatile energy prices
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

Dec 20 (Reuters) - Major stock markets in the Gulf fell in early trade on Tuesday, with the Saudi index falling the most on economic concerns and volatile energy prices. Saudi Arabia's benchmark index (.TASI) declined 1.3%, with Retal Urban Development Co (4322.SE) losing 1.6% and Dr Sulaiman Al-Habib Medical Services (4013.SE) dropped 4.6%. Last week, the U.S. Federal Reserve and European Central Bank raised interest rates and promised more, adding to concerns of a global economic downturn. Dubai's main share index (.DFMGI) eased 0.1%, weighed down by a 1.8% fall in sharia-compliant lender Dubai Islamic Bank (DISB.DU). The Qatari index (.QSI), however, added 0.2%, helped by a 1.3% rise in Qatar Islamic Bank (QISB.QA).

The article was one of a series of reports this year by the news agency on Binance's financial compliance and relationship with regulators across the world. Reuters also asked representatives of the local Binance units and affiliates about their relationship with the main Binance exchange. In Italy, Binance's public corporate filings detail just the unit's capital base and its ownership by a separate Binance company in Ireland. The Italian company, Binance Italy S.R.L., has its listed address in a block of shops and apartments in the southern city of Lecce. Just two of the Binance units analysed by Reuters offer more substantial details in their filings.

☆ Most Gulf markets fall on Fed hawkishness; Abu Dhabi gains
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +2 min

Dec 15 (Reuters) - Most stock markets in the Gulf dropped in early trade on Thursday after Federal Reserve Chair Jerome Powell said the central bank would deliver more rate increases next year. Saudi Arabia's benchmark index (.TASI) fell as much as 0.6%, and was on course to fall after two sessions of gains. The Saudi Central Bank said on Wednesday it increased its key interest rates by 50 basis points, following Fed's move as the Saudi riyal is pegged to the dollar. The Central Bank of the United Arab Emirates also increased its base rate by 50 basis points to 4.4%, effective Thursday, mirroring Fed's move. The Qatari benchmark index (.QSI) dropped 0.7%, with petrochemical maker Industries Qatar (IQCD.QA) declining 2.1%.

☆ Saudi leads fall in major Gulf markets amid Fed policy jitters
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

Dec 12 (Reuters) - Saudi Arabia's stock market dropped in early trade on Monday, leading declines in the Gulf region ahead of interest rate decision from the U.S. Federal Reserve. The Fed is widely expected to raise rates by 50 basis points at its last meeting of 2022 on Wednesday. Investors will also focus on the central bank's updated economic projections and Fed Chair Jerome Powell's press conference. Dubai's main share index (.DFMGI) fell 0.6%, hit by a 1.5% fall in top lender Emirates NBD (ENBD.DU). The Qatari index (.QSI) slipped 1.4%, as most of the stocks in the index were in neagtive territory including the Gulf's biggest lender Qatar National Bank (QNBK.QA), down 2.2%.

☆ Most Gulf markets in red on weak oil, Fed policy jitters
▼ + stars: | 2022-12-12 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

The Fed is widely expected to raise rates by 50 basis points at its last meeting of 2022 on Wednesday. Investors will also focus on the central bank's updated economic projections and Fed Chair Jerome Powell's press conference. Saudi Arabia's benchmark index (.TASI) dropped 1%, hitting its lowest since April last year, with Retal Urban Development Co (4322.SE) shedding 3.5%. Last week, Brent fell to its lowest since December 2021 amid concerns a possible global recession will hit oil demand. Outside the Gulf, Egypt's blue-chip index (.EGX30) gained 0.9%, bolstered by a 1.8% rise in top lender Commercial International Bank (COMI.CA).

☆ What do hotel 'star' ratings really mean? Here's a breakdown
▼ + stars: | 2022-12-11 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +6 min

And to add to the confusion, Frommer's website states its star ratings only go from one ("recommended") to three stars ("exceptional"). The non-profit organization Hotelstars Union uses common criteria to unify star ratings across Europe. A project called "World Hotel Rating" was meant to standardize hotel ratings around the world. What do star ratings mean? Secondly, a true five-star hotel must employ people who understand that "everything revolves around the guest," he said.

The Rashid Rover was built by Dubai’s Mohammed bin Rashid Space Centre (MBRSC), in the United Arab Emirates (UAE), and is being delivered by the HAKUTO-R lander, engineered by Japanese lunar exploration company ispace. The Rashid Rover, named after the late Sheikh Rashid Al Saeed, the former ruler of Dubai, will analyze the plasma on the lunar surface and conduct experiments to understand more about lunar dust. The Rashid Rover was built at Dubai's Mohammed bin Rashid Space Centre. Mohammed bin Rashid Space Centre (MBRSC)The rover will be entirely solar-powered and equipped with four cameras, including a microscopic and thermal one. Al Marzooqi hopes that the lunar surface mission will be a stepping stone to Mars.

☆ UAE president visits Qatar in sign of warming ties
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

DOHA, Dec 5 (Reuters) - The United Arab Emirates (UAE) president arrived in Qatar on Monday on the first such visit since Saudi Arabia and its Arab allies ended a boycott of Doha nearly two years ago. Qatar is currently hosting soccer's World Cup,The visit "is another step towards strengthening Gulf solidarity and joint action," Anwar Gargash, diplomatic adviser to the UAE president, said on Twitter. Saudi Arabia, the UAE, Bahrain and Egypt early last year ended a 3-1/2 year embargo of Qatar, but ties between Doha and Abu Dhabi have not warmed at the same pace as those with Riyadh and Cairo, which re-established diplomatic ties with Doha. UAE National Security Adviser Sheikh Tahnoon bin Zayed al-Nahyan visited Doha twice as part of Abu Dhabi's push to manage regional differences. Abu Dhabi, like Manama, has not appointed an envoy to Doha, but restored travel and trade links between the UAE and Qatar.

☆ How social media has influenced the first luxury resort on Dubai’s World Islands
▼ + stars: | 2022-12-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow social media has influenced the first luxury resort on Dubai’s World IslandsCNBC's Dan Murphy visits luxury hotel chain Anantara's resort on Dubai's World Islands, examines the brand's marketing strategy and discovers how many of the property's features are designed to create the perfect Instagram image.

☆ Inside a $35 million home on Dubai’s so-called ‘billionaires’ row’
▼ + stars: | 2022-11-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside a $35 million home on Dubai’s so-called ‘billionaires’ row’CNBC's Dan Murphy goes on assignment at Dubai's so-called "billionaires' row" and tours a brand-new $35 million luxury house with architect Cem Kapancioglu.

☆ Major Gulf markets track Asian shares, oil prices lower
▼ + stars: | 2022-11-28 | by ( Roxanne Liu | Yantoultra Ngui | ) www.reuters.com time to read: +1 min

Nov 28 (Reuters) - Major stock markets in the Gulf fell on Monday, with the Qatari index leading the drop, as investors tracked sluggish crude prices and Asian equities lower after rare protests in China against the country's zero-COVID curbs roiled sentiment. Crude prices - a key catalyst for the Gulf's financial markets - slumped as street protests against strict curbs in China, the world's biggest crude importer, stoked concerns about the outlook for fuel demand. In Qatar, the index (.QSI) dropped 1.5%, as all stocks were trading in negative territory including petrochemical maker Industries Qatar (IQCD.QA), which was down 1.9%. Saudi Arabia's benchmark index (.TASI) retreated more than 1%, with Retal Urban Development Co (4322.SE) losing 1% and oil giant Saudi Aramco (2222.SE) declining 0.9%. Dubai's main share index (.DFMGI) retreated 0.5%, weighed down by a 0.9% fall in blue-chip developer Emaar Properties (EMAR.DU).

☆ Most Gulf markets track oil prices, global shares lower
▼ + stars: | 2022-11-28 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Nov 28 (Reuters) - Most stock markets in the Gulf ended lower on Monday, as investors tracked sluggish oil prices and global shares after rare protests in China against the country's zero-COVID curbs roiled sentiment. China has stuck with President Xi Jinping's zero-COVID policy even as much of the world has lifted most restrictions. Saudi Arabia's benchmark index (.TASI) fell 0.5%, hit by a 2.8% fall in Retal Urban Development Co (4322.SE) and a 2.6% decline in oil giant Saudi Aramco (2222.SE). Europe's benchmark STOXX index (.STOXX) fell 0.9% in early trading after MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 1.2% as COVID protests raised investors' concerns about growth implications for China. Outside the Gulf, Egypt's blue-chip index (.EGX30) dropped 0.7%, with top lender Commercial International Bank (COMI.CA) falling 0.8%.

☆ Superyacht rentals, private jets and a soccer-themed hotel: Dubai is cashing in on the Qatar World Cup
▼ + stars: | 2022-11-24 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

A yacht that can be rented to watch the World Cup while sailing around Dubai is docked in Dubai harbor on November 1, 2022, ahead of the Qatar 2022 FIFA World Cup football tournament. Paul Griffiths, CEO of Dubai Airports, in August called Dubai "the major gateway" to the World Cup and predicted it would see more tourists than Qatar itself. Getty Images | A general view of the West Bay area ahead of the FIFA World Cup Qatar 2022 at on November 18, 2022 in Doha, Qatar. "Its tourism infrastructure and straightforward entry requirements make it a convenient base for World Cup fans." Dubai, meanwhile, as a city has more than 140,000 hotel rooms, according to hotel data firm STR.

☆ Dubai's main airport raises 2022 passenger forecast
▼ + stars: | 2022-11-22 | by ( Yousef Saba | ) www.reuters.com time to read: +1 min

DUBAI, Nov 22 (Reuters) - Dubai's main airport on Tuesday raised its passenger forecast for this year by nearly two million to 64.3 million people after a strong pick up in business in the third quarter from the same period last year. The Gulf hub has seen more than 46.3 million passengers so far this year, up 168% year-on-year, and about 72% of its traffic in the same nine months of 2019, before the pandemic. London was the top destination city in the third quarter, with two million passengers, followed by Riyadh and Mumbai. India was the top country destination, with 6.8 million passengers, followed by Saudi Arabia, Britain and Pakistan. Reporting by Yousef Saba; Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Major Gulf markets fall in early trade on growth worries
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +2 min

Nov 22 (Reuters) - Major stock markets in the Gulf fell in early trade on Tuesday on growth worries following COVID-19 flare-ups in China and weak oil demand, with the Qatari index on course to extend losses for a sixth session. Saudi Arabia's benchmark index (.TASI) dropped 0.3%, on course to extend losses for a third session, with Dr Sulaiman Al-Habib Medical Services (4013.SE) losing 2.7% and Riyad Bank (1010.SE) falling 1.1%. Physical crude markets have weakened in recent days, reflecting softer demand from China and Europe. Dubai's main share index (.DFMGI) fell 0.3%, hit by a 0.4% fall in Emirates NBD (ENBD.DU). The Qatari index (.QSI) retreated 0.8%, on course to extend losses for a sixth session, with Qatar Islamic Bank (QISB.QA) dropping 1.6%.

☆ Soccer Qatar's Bedouin roots star in World Cup opening ceremony
▼ + stars: | 2022-11-20 | by ( Andrew Mills | ) www.reuters.com time to read: +3 min

"From Qatar, from the Arab world, I welcome everyone to the World Cup 2022," Sheikh Tamim bin Hamad Al Thani said. "How lovely it is that people can put aside what divides them to celebrate their diversity and what brings them together." Then, fireworks exploded from the roof of Al Bayt stadium, 44 km (27 miles) north of the capital, Doha. Earlier, the nearly full stadium erupted in cheers when Sheikh Tamim arrived at the stadium flanked by FIFA president Gianni Infantino. The ceremony featured video footage of Sheikh Tamim as a boy playing soccer in the desert, which seemed aimed at countering the argument made by Qatar's critics that the Gulf Arab state has no soccer tradition.

LONDON, Nov 18 (Reuters) - European refiners have found themselves oversupplied with crude as an expected shortage owing to the looming EU ban on Russian oil has yet to materialise. The front-month Brent crude futures spread narrowed sharply this week, reflecting better supply in the physical oil market as fears over the EU embargo on Russian crude begin to subside. Reuters Graphics"There's too much oil around," one European crude trader said. A G7 price cap on Russian crude also comes into effect on Dec. 5. ALTERNATIVES SOURCESTraders said refiners have adjusted to living without Russian crude, which had been a mainstay of Europe's refining system.

☆ 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.

☆ Major Gulf markets fall after Fed warning
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

Nov 14 (Reuters) - Major stock markets in the Gulf retreated in early trade on Monday after a top U.S. central banker warned investors against getting carried away over one inflation number. Saudi Arabia's benchmark stock index (.TASI) dropped 1.3%, dragged down by a 4.1% slide in Retal Urban Development Co (4322.SE) and a 1.3% decline in Al Rajhi Bank (1120.SE). The kingdom's Public Investment Fund sold a 10% stake in the firm through a secondary share offering, raising 2.3 billion riyals ($612 million). The fund sold 12 million shares through an accelerated bookbuild offering at 191 riyals each, a 9% discount to Thursday's closing price. Dubai's main share index (.DFMGI) fell 0.4%, hit by a 0.9% fall in blue-chip developer Emaar Properties (EMAR.DU).

☆ Most Gulf bourses fall after Fed warning
▼ + stars: | 2022-11-14 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Nov 14 (Reuters) - Most Gulf stock markets ended lower on Monday after a top U.S. central banker warned investors not to get carried away over one inflation number, while falling oil prices compounded concerns. Saudi Arabia's benchmark index (.TASI) fell 0.4%, hit by a 3% slide in the country's biggest lender Saudi National Bank (SNB)(1180.SE). The lender has agreed to invest 1.5 billion Swiss francs ($1.59 billion) in the Swiss bank and is set to take a stake of up to 9.9%. Since the October announcement, SNB has lost 39.94 billion riyals ($10.63 billion) from its market value. The kingdom's Public Investment Fund sold a 10% stake in the firm through a secondary share offering, raising 2.3 billion riyals ($612 million).

☆ Major Gulf bourses in red ahead of U.S. inflation data
▼ + stars: | 2022-11-10 | by ( Seun Sanni | ) www.reuters.com time to read: +2 min

The U.S. consumer price index (CPI) data for October is due at 1330 GMT, with economists polled by Reuters forecasting a decline in both monthly and yearly core numbers to 0.5% and 6.5%, respectively. Dubai's main share index (.DFMGI) fell 0.3%, with blue-chip developer Emaar Properties (EMAR.DU) losing 0.6% and top lender Emirates NBD (ENBD.DU) falling 0.4%. Dubai schools operator Taaleem Holdings announced a price range of between 2.95 dirhams and 3 dirhams per share for its upcoming initial public offering. The company plans to raise 750 million dirhams ($204.21 million) from the IPO to expand its premium schools network. The Qatari index (.QSI) retreated 0.7%, as most of the stocks on the index were in negative territory.

☆ Major Gulf markets mixed ahead of U.S. inflation data
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

Nov 8 (Reuters) - Major stock markets in the Gulf were mixed in early trade on Tuesday as crude oil prices fell and caution prevailed ahead of the release of U.S. inflation data. Crude prices hit their highest since August on Monday amid speculation leaders in top crude importer China were weighing an exit from the country's strict COVID-19 restrictions. Chinese health authorities doused that speculation on Saturday, reaffirming the country's commitment to its strict zero-COVID policy. State developer Nakheel secured 17 billion dirhams ($4.63 billion) in financing from local banks for new projects, including Dubai Islands and other waterfront developments. read moreThe transaction comprises 11 billion dirhams in refinancing and additional funds of 6 billion dirhams through a syndicate of three local lenders.

☆ Most Gulf stocks end higher, Abu Dhabi hits record high
▼ + stars: | 2022-11-07 | by ( Ateeq Shariff | Megan Rowling | ) www.reuters.com time to read: +2 min

Brent crude futures recouped most losses after dropping by more than $1/bbl earlier in the session on China lockdowns worries. read moreSaudi Arabia's benchmark index (.TASI) rose 0.7%, extending gains from the previous session, led by a 3% rise in Riyad Bank (1010.SE). Dubai's main share index (.DFMGI) gained 0.9%, with blue-chip developer Emaar Properties (EMAR.DU) rising 2.3%. In ABu Dhabi, the index (.FTFADGI) advanced 1.2% to hit a record high, buoyed by a 2.1% jump in the country's biggest lender, First Abu Dhabi Bank (FAB.AD). Outside the Gulf, Egypt's blue-chip index (.EGX30) advanced 2.4%, as most of the stocks on the index were in positive territory.

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