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Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Global challenges hit M&A activity in Middle East, GCC

Sovereign Wealth Funds emerge as pivotal players, driving economic diversification and strategic cross-border partnerships, says Riccardo Molinari of Bain &...

Oil may rise to $100, gold to hit $3,000 by 2025, says Citi

ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...
  • Analysts say gold is currently trading at $2,016 and could surge by about 50 percent if central banks dramatically increase purchases.
  • Another factor that could drive gold prices is the global economy's deep recession, which could prompt the Federal Reserve to cut rates rapidly.

Saudi National Bank launches US dollar-denominated sukuk

RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle. The sukuk are offered to qualified...
  • The sukuk are offered to qualified investors inside and outside Saudi Arabia.
  • The amount and sukuk’s terms of offer will be subject to market conditions.

Saudi holdings of US Treasuries surge to $131.9b in December 2023

ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...
  • The Kingdom maintained 16th place among the largest holders of US treasury securities for December.
  • Saudi Arabia’s holdings of US Treasuries were distributed among long-term and short-term bonds.

MENA startups optimistic despite funding fluctuations

In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed...
  • In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed by Egypt's recovery and Saudi Arabia's steady input.
  • Last month's funding spotlighted travel, fintech, health, and mobility sectors, with Pre-Seed and Seed stages leading, underscoring strong support for early-stage startups.

Bezos sells $2bn Amazon shares

He reportedly intends to sell, next July, 50 million shares of the group.
  • Bezos sold on Wednesday and Thursday some 12 million Amazon shares, at between $168-171 per share.
  • A previous stock market document, out Wednesday, reported his intention to sell, next July, 50 million Amazon shares.

Kuwait leads GCC market gains amid regional tensions

Despite challenges from regional tensions and fluctuating oil prices, sectors like F&B and pharma see notable increases, showcasing the diverse...
  • Despite challenges from regional tensions and fluctuating oil prices, sectors like F&B and pharma see notable increases, showcasing the diverse impacts on regional markets.
  • Kuwait led with a 6.6% gain, while declines in Qatar, Saudi Arabia, and Abu Dhabi were balanced by other markets, amid notable drops in energy, materials, and real estate.

‘Bond market acts as a mirror to economic realities’

"(US Federal Reserve Chair Jerome) Powell's focus on verifying inflation's trajectory is in line with the central bank's dual mandate...
  • Bond market's selling pressure illustrates its role in reflecting economic realities, says Nigel Green
  • A 27 basis points surge in 10-year yields marks notable market movement since June 2022, he adds.

Qatar Central Bank issues treasury bills, sukuk worth US$686m

DOHA, QATAR - The Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three...
  • The Qatar Central Bank said the total bids for the treasury bills and Sukuk amounted to US$2.2 billion (QR 8.275 billion).
  • QCB issued treasury bills and Sukuk with maturities of one week, one month, three months, six months and nine months.

Paris stocks hit record thanks to luxury

Europe's main stock markets shot higher, with Paris closing at a record high as shares in LVMH surged on record...
  • Hong Kong stocks slumped after rallying for much of the week, as traders awaited guidance on more Chinese stimulus.
  • Oil prices fell as traders banked profits from a strong week for crude.

UAE, KSA lead as tech and energy drive IPOs in GCC

The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both...
  • The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both state-owned and private offerings.
  • ADNOC Gas' large IPO underscores the region's market robustness, while the technology sector reclaims the lead in IPO proceeds, showcasing dynamic market strength.

Deadly strikes hit Gaza as US envoy visits Israel

Israel has also fought and bombed resurgent Hamas forces in northern and central areas of the coastal territory previously considered...

Latest News

Saudi holdings of US Treasuries surge to $131.9b in December 2023

ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...

MENA startups optimistic despite funding fluctuations

In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed...

Bezos sells $2bn Amazon shares

He reportedly intends to sell, next July, 50 million shares of the group.

Most Read

‘Bond market acts as a mirror to economic realities’

"(US Federal Reserve Chair Jerome) Powell's focus on verifying inflation's trajectory is in line with the central bank's dual mandate...
  • Bond market's selling pressure illustrates its role in reflecting economic realities, says Nigel Green
  • A 27 basis points surge in 10-year yields marks notable market movement since June 2022, he adds.

Qatar Central Bank issues treasury bills, sukuk worth US$686m

DOHA, QATAR - The Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three...
  • The Qatar Central Bank said the total bids for the treasury bills and Sukuk amounted to US$2.2 billion (QR 8.275 billion).
  • QCB issued treasury bills and Sukuk with maturities of one week, one month, three months, six months and nine months.

Paris stocks hit record thanks to luxury

Europe's main stock markets shot higher, with Paris closing at a record high as shares in LVMH surged on record...
  • Hong Kong stocks slumped after rallying for much of the week, as traders awaited guidance on more Chinese stimulus.
  • Oil prices fell as traders banked profits from a strong week for crude.