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,...
Economy
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...
Economy
Market Report
DGCX reports 16% growth in total volume of trades in 2022
DUBAI, UAE - Dubai Gold and Commodities Exchange (DGCX) Thursday announced its full-year market statistics for 2022, reporting 8.239 million...
- The DGCX is the largest and most diversified derivatives exchange in the Middle East.
- DGCX saw steady trading in Indian Rupee, as market participants looked to hedge their exposure to one of the world’s fastest-growing economies.
Business
We help investors, give them additional tools: QCSD
The first thing QCSD worked on was the movable funds register aimed at helping small and medium-sized enterprises to benefit...
- The Qatar Central Securities Depository (QCSD) is working on the application of lending and borrowing to help investors in Qatar and give them additional options and tools
- The first thing QCSD worked on was the movable funds register aimed at helping small and medium-sized enterprises to benefit from the tools, says its CEO Sheikh Saif Al-Thani
Opinion
Fuel products join in as gold and copper rally
With activity in China unlikely to pick up in earnest until after the Lunar New Year holiday, the prospect of...
- Crude oil prices head for a second weekly advance, thereby fully offsetting the weakness that hit the market during the first days of January
- While silver struggles to keep up, gold continues to show resilience, following a three-day pullback during which it found support at $1896
YEARBOOK 2023
Fearing a decline in demand amidst global slowdown, Kuwait may raise exports of oil derivatives to Europe
The Gulf country expects the average amount of oil production to increase to 2,701,000 barrels this year, the latest Institute...
- The Gulf country expects the average amount of oil production to increase to 2,701,000 barrels this year, the latest Institute of International Finance report points out
- Real GDP growth is expected to slow to 2.5% in 2023 if average crude oil output stabilizes, while real growth outside hydrocarbon sector is projected to stabilize at 3.8%
Market Report
Gulf markets, except Kuwait and Qatar, end higher
The Saudi market's general index, TASI, rose 1.19%, Dubai Financial Market 0.47%, Abu Dhabi Stock Market Vadax 15 index 0.133%...
- Fifteen sectors rose on the Saudi Stock Exchange, led by banks at 2.37 percent, capital goods 1.64 percent, energy 0.93 percent.
- In the Dubai Stock Exchange, the industry sector increased by 1.2 percent, followed by the real estate sector by 0.9 percent, the consumer goods sector by 0.44 percent,
Opinion
Commodities face a challenging first quarter
We have strong doubts about the recession risk to the US economy and see demand from some of the world’s...
- Brent may spend most of the time trading below $80 before eventually recovering back towards the $90 area once the Covid cloud starts to lift in China
- Copper and iron ore manage to post small gains during an otherwise challenging week, where China’s messy exit from its long held covid-zero strategy has led to a surge in cases
Market Report
Stocks mostly drop as traders track China, US rates
Major stock markets mostly dropped as warnings that US interest rates would continue to rise and remain elevated offset growing...
- Sentiment is still closely linked to the outlook for US monetary policy as the Federal Reserve battles to bring inflation down from four-decade highs.
- Policymakers appear determined to keep lifting borrowing costs until they achieve their goal of two percent inflation.
Opinion
Market downturn impacts growth equity valuation
For strong growth companies, the choice has narrowed down to growth funding vs private equity and both have different criteria....
- Today more than any time in the past 3 years, investors need to understand and see a credible exit path for their investment
- Companies therefore must align the company’s strategy with the proposed exit path for the business
Market Report
GCC stocks end the week in decline after a few days of gain
Abu Dhabi Securities Exchange finished 2022 with a gain of almost 20 percent, making it the highest performer among GCC...
- Despite declines in oil and financial firms, the Saudi stock index closed Thursday (January 5, 2023) slightly up.
- On Monday (January 2, 2023), the First Abu Dhabi Bank contributed to a 0.6 percent point increase in the Abu Dhabi Securities Exchange index.
Market Report
Stocks mostly rise ahead of key US jobs data
Stock markets mostly advanced as traders awaited key US jobs data and after news of falling inflation in the eurozone....
- The Fed along with central banks worldwide last year kickstarted a string of aggressive rate hikes to battle decades-high inflation.
- Official data showed that annual inflation in the eurozone dropped for a second month in a row, to 9.2 percent in December.
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,...
Economy
Company News
Latest News
UAE Islamic Treasury Sukuks auction is a tremendous success
ABU DHABI, UAE - The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration...
Business
IPOs in MENA raise US$5.8bn in first nine months of 2023
ABU DHABI, UAE - A recent report revealed that 29 initial public offerings (IPOs) were recorded in the Middle East...
Market Report
Most Read
Market Report
Gulf markets tumble amid rising geopolitical concerns
As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures...
- As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures year-to-date gains, says a report.
- Qatar Stock Exchange plans to shorten settlement cycles to reduce risk as Kuwaiti benchmarks and Abu Dhabi's FTSE ADX index falter, while Dubai market's positive run halts.
Business
GFH Capital mulls listing on Saudi market, says CEO
RIYADH, SAUDI ARABIA - GFH Capital is considering the offering of its unit in Saudi Arabia on the Tadawul. GFH...
- The group is listed on the stock exchanges of Bahrain, Dubai, Abu Dhabi and Kuwait.
- The group is continuing with fulfilling the regulatory requirements prior to listing.
Geostrategy
Hamas says 50 hostages dead in Israeli strikes on Gaza
Jerusalem - Hamas's armed wing said on Thursday that "almost 50" Israeli hostages held in the Gaza Strip since the...
- Earlier, the Israeli army said 224 people were abducted by militants during the attack that left 1,400 people, mostly civilians, dead.
- "We have informed the families of 224 hostages. This number is changing based on the intelligence we obtain," military spokesman Daniel Hagari said