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...
Market Report
FAB issues first Sukuk globally in 2024
ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...
Business
Market Report
Saudi and UAE stock markets end the week lower
The Saudi and UAE stock markets ended the week lower as concerns about slowing global economic growth impacted investor sentiment....
- Saudi and UAE stock markets ended the week lower, following Asian markets
- Concerns about slowing global economic growth impacted investor sentiment
Market Report
Saudi Index at lowest levels since January
Saudi Stock Exchange's general index fell by nine points. Abu Dhabi market was below 9,200 points, Dubai market rose above...
- The Saudi Stock Exchange's general index recorded its lowest level since January and ended the week down by nine points
- The Dubai market managed to rise above 3200 points, supported by a rise in real estate and investment shares, during the week
Business
Gulf’s first dedicated furniture exhibition kicked off Monday
The first edition in Dubai catered to big-box retailers and wholesale traders, while the second edition is set to have...
- The Expo Center Sharjah announced this, while confirming that the event will finish Thursday, 16th June.
- The first two days are dedicated to trade visitors and the latter two days are dedicated to general visitors.
Market Report
UAE, KSA bourses to stay range-bound until 2022-end
The volatility in oil prices will affect the markets. If there is a higher-than-expected decline, the markets may feel the...
- The volatility in oil prices will affect the markets. If there is a higher-than-expected decline, the markets may feel the heat, Junaid Ansari of Kamco Invest tells TRENDS.
- Higher interest rates are expected to benefit banks in the region that account for the second-biggest sector in the region by market cap
Market Report
Saudi stocks lead declines among Gulf bourses
Saudi Arabia's benchmark index finished 1.3% lower, hurt by a 2.1% fall in oil giant Saudi Aramco and a 1.2%...
- Saudi Arabia's benchmark index finishes 1.3% lower, hurt by a 2.1% fall in oil giant Saudi Aramco and a 1.2% decline in country's biggest Islamic lender Al Rajhi Bank
- Abu Dhabi Stock Exchange witnesses a 0.5% drop in equities with the United Arab Emirates' largest lender First Abu Dhabi Bank losing 1.3%
Economy
Food prices fall in May after hitting record high in March, cereal production may drop
World food prices dipped in May for a second consecutive month after hitting a record high in March, although the...
- FAO says world food prices dipped in May for a second consecutive month although the cost of cereals and meat rose
- Global cereal production would drop in the 2022-23 season for the first time in four years, says FAO
Business
ADX lists GFH Financial Group
The listing is set to expand GFH’s investor base and boost its share liquidity.
- This is GFH’s fourth regional listing with its shares already listed and actively traded on the Bahrain Bourse, Boursa Kuwait and the Dubai Financial Market
- The listing of GFH Financial Group on Abu Dhabi Securities Exchange brings the number of dual listings on the exchange to four
Market Report
Bitcoin falls below $30,000, lowest since July 2021
Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors...
- Bitcoin's value has more than halved since a November surge that saw the token hit a record of nearly $69,000
- Traditional investors have been offloading bitcoin and other digital tokens along with other volatile assets like tech stocks
Business
Lufthansa cuts Q1 losses
German carrier set its sights on a record summer for traffic.
- The airline group's net loss over the first three months of 2022 came to 584 million euros ($620 million)
- The number of passengers on Lufthansa flights "more than quadrupled" in the first quarter to 13 million
Business
VARA of Dubai to make entry into Metaverse through ‘Sandbox’
Dubai’s Virtual Assets Regulatory Authority (VARA) will enter into the Metaverse with the establishment of its Metaverse HQ in the...
- VARA is the world’s first regulator to make its debut in the Metaverse and seeks to ensure that the regulator is accessible to its industry
- It was established to provide a secure and progressive operating framework for the virtual asset (VA) sector to be able to scale
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...
Market Report
Company News
Apple tops $3trn in market value
Business
Latest News
Energy, commodity prices hurt profits of GCC firms
GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit...
Market Report
European stocks rise, China rate cut fails to ease worries
European stocks rebounded but Asian markets ended mixed after a Chinese rate cut failed to reassure investors. At midday, Paris...
Market Report
UAE takes part in G20 joint health-finance ministers meeting  Â
GANDHINAGAR, INDIA - Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini and Assistant Minister of Foreign Affairs...
Geostrategy
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Market Report
Asian markets swing as US jobs data disappoint
Asian equities wobbled at the end of a draining week as fresh US jobs data put revived bets on two...
- Data recently pointed to a weakening in the US economy that would help ease inflation, the Fed has said it needed to see more softening in the jobs sector.
- This week's stumble follows a rally last week when a faster-than-expected slowdown in US inflation stoked hopes the Fed could end its rate hikes. .
Business
Dar Al Arkan issues sukuk of $600m
issuance is the ninth tranche Sukuk program in US dollars.
- The maturity period is of five years at a profit rate of 8 percent annually.
- The issuance order book reached US$1.64 billion (SAR 6.15 billion).
Business
Rise in foreign sukuk offset by local currency decline
Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a...
- Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a surge in foreign currency issuances, says a report
- A new report by S&P Global Ratings indicates mixed activity levels, suggesting the need for harmonization of Sharia standards to attract non-core jurisdictions