Monday 31 August 2015

UAE markets firm; Emaar gains

United Arab Emirates stock markets were firm in early trade on Tuesday after oil prices and Asian bourses stabilised at least temporarily, encouraging UAE retail investors to buy back property shares in particular. Dubai's index, which had tumbled over 8 per cent in the past


Bahrain inflation slows to 1.1pc in July

Bahrain’s inflation slowed last month to 1.1 per cent as food prices fell, data from the Central Informatics Organisation showed. The housing and utility costs, which account for 24 per cent of consumer expenses, rose 2.3 per cent from a year earlier but were flat from the previous mont


Bank ABC closes $320m syndicated facility for KIB

Kuwait International Bank (KIB) has successfully closed a debut syndicated murabaha financing facility. A statement said Bahrain-based Bank ABC and Bank ABC Islamic acted as the initial mandated lead arrangers and co-ordinating banks for the facility, which was signed yesterday (August 24). I


Global markets plunge ‘won’t impact Bahrain’

Economies of Bahrain and the GCC region may be nearing the zone of discomfort but are far from the danger zone, leading economists have said. According to Bahrain-based economist Dr Akbar Jaffari, who also runs a consultancy called Jafcon, said there was no cause for alarm here as such, repor


Bahrain Cabinet urged to rethink subsidy cuts

Calls for the already delayed subsidy cuts on meat to be further postponed have been backed by a joint parliamentary and government committee. It follows on from an earlier recommendation made by a special sub-committee formed to iron out details regarding redirecting government subsidies, sa


Asian shares bounce off 3-year lows, China still down

Volatile global markets showed signs of a respite from the recent blood-letting on Tuesday, as bargain hunters helped Asian stocks off three-year lows hit on fears that China's economy was risking a hard landing, with Chinese shares losing another 5 per cent. The MSCI's b


Saudi plunges 5.9pc as region continues slide

Saudi Arabia's stock market plunged 5.9 per cent on Monday, leading another day of losses across the Middle East as the region reacted to sliding oil prices and a deteriorating global environment.      "Markets in the Gulf are changing their expectations an


Great fall of China sinks world stocks, dollar

World stock markets plunged on Monday, as a near 9-per cent dive in China shares and a sharp drop in the dollar and major commodities sent investors rushing for the exit. The Dow Jones Industrial Average dropped more than 1,000 points as Wall Street opened, and the benchmark Stan


Mideast CFO optimism affected by low oil prices

The optimism and risk appetite of chief financial officers (CFOs) in the Middle East has been impacted by the continuation of low energy prices, according to Deloitte’s latest report. Deloitte, a leading provider of audit, tax, consulting, and financial advisory services, h


Banks lead H1 earnings growth in Kuwait

Kuwait’s banking sector recorded a solid growth of 13 per cent during the first half (H1) of the year, benefiting from an improving operating environment and healthy growth in credit, a report said. With such results, bank profits continue to dominate the listed corporate s

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