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Dubai leads way as GCC markets show mixed results
Amid market volatility influenced by geopolitical tensions and fluctuating oil prices, pharma, insurance, and healthcare indices led with substantial gains in 2023.
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Oil price break $100 on Russian ‘military operation’ in Ukraine
According to the UN, a full-scale Russian invasion on Ukraine would have a devastating global impact that would likely spark a new "refugee crisis", with traders fretting over supplies of key commodities including wheat and metals. -
Oil prices jump as unrest continues in Kazakhstan
Over the week, crude prices gained about 5 percent and on Friday Brent exceeded $83 per barrel. -
Omicron batters indices across MENA
Stock markets across the MENA region suffered losses on Sunday as dip in oil prices and mounting concern over ‘Omicron’ weighed heavily on investors’ minds. -
Energy prices may come down early next year
Consumption of natural gas rebounded fast — driven by industrial production — boosting demand at a time when supplies were relatively low. Energy supply, however, apparently reacted slowly to price signals due to factors like labor shortages, maintenance backlogs, longer lead times for new projects, and lackluster interest from investors... -
Moody’s revises Saudi Arabia’s outlook to stable
The agency predicted the Saudi economy will return to positive growth in 2021, and the current account level will return to surplus as the fiscal deficit shrinks in 2021, accompanied by a reduction in the level of debt in the medium term. -
Political stability spurs Kuwait’s economic recovery
In June, the government passed the budget for 2021-22, which projected spending of US$ 76 billion and a deficit of US$ 40 billion. -
Saudi index reaches new highs on oil price rise
The oil price rise is expected to raise the economic growth of Saudi Arabia and the UAE. The kingdom is expected to grow by 5.1 percent next year. -
$80 oil sparks mixed fortunes for world economy
Rising oil prices handed a major boost to producers but threaten the global recovery and stoke inflationary pressures because they lift manufacturing costs, which translates into higher consumer prices. -
Gulf region poised for higher growth in 2021: Expert
The economies of the region are recovering fast on the back of the rising oil prices and speedy vaccination programs, says Jean Claus, CEO of Euler Hermes Middle East -
$250bn GCC rail project on track after hiccups
The project linking the six GCC countries is expected to boost exports, diversify mode of transportation and reduce carbon emissions by cutting the need for trucks and cars. -
GCC equity markets shine in H1 2021
The growth was spurred by abundant liquidity created by easing monetary and fiscal policies besides a rebound in oil prices. -
US oil prices soar
At 1355 GMT a barrel of WTI, the main US contract, for October delivery was 5.0 percent higher at $65.26 dollars -
Dana Gas reports $139m net profit in H1
Dana Gas, the UAE-based energy producer, is out of woods with a big rise in its net profit to $139 million in the first half of this year. -
Oil prices rise amid growing demand from India, China
Brent crude oil futures were up $1.43, 1.93%, at $75.55 Prices had dropped early in the week by the collapse of output talks between the OPEC and allies including Russia, together known as OPEC+ Falling US inventories, and signs of strong Asian demand from both China and India pushed up... -
Macro drivers signal higher oil prices in 2022: BofA
Trends currently driving down oil prices will cease to be a problem in the second half of 2021 Weaker dollar, inflation and monetary easing will lead to higher oil prices in 2022 A new Bank of America Global Research report claims micro trends that are driving down oil prices, like...