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...
Business
Market Report
Asian markets mostly up, oil rallies as virus and Fed hold attention
A mild recovery from the previous two days' steep losses was turned on its head in the region on Tuesday...
- With medical experts saying the full outlook for Omicron was still being assessed, analysts said markets would remain volatile
- Crude which was pummelled Friday and again Tuesday also enjoyed some advances with both main contracts up more than two percent
Market Report
Multiply Group to list on ADX
Multiply Group has assets of AED 8.16 billion and 3,240 employee
- The group’s listing on ADX will offer investors the opportunity to invest in the field of disruptive digital technology and other key industries
- The company’s combined portfolio strikes a balance between companies that generate recurring income and high-growth businesses
Business
Saudi index falls significantly while UAE market diverges
Stock exchanges in the GCC region saw quite a few ups and downs this week.
- The Saudi index faced a significant fall this week, the first since October 2020, due to military struggles with Yemen
- With Al-Rajhi Bank missing 4.5 percent and Saudi Arabian National Bank dropping 3.7 percent, the Saudi index fell 2.7 percent on Monday
Analysis
Global ripples await MidEast markets on Sunday
Middle East markets were spared the November 26 bloodbath because they were closed on Friday and Saturday.
- Covid-19 has a new variant that spooked global markets, and its spike protein, which most vaccines target, has mutated 50 times
- This could dent the efficacy of most Covid-19 vaccines across the world, and dampen sentiments further
Market Report
Most Asian markets drop on renewed Covid, inflation concerns
In early trade, Tokyo, Hong Kong, Sydney, Wellington, Taipei, Manila and Jakarta were all down, though there were gains in...
- In early trade, Tokyo, Hong Kong, Sydney, Wellington, Taipei, Manila and Jakarta were all down, though there were gains in Seoul and Singapore
- Top Federal Reserve officials have indicated they would like to see the bank bring its quantitative easing to an end quicker than earlier flagged
Economy
DFM incentivizes IPOs from companies in key growth sectors
The program encompasses unprecedented incentives including financial support to the cost of private companies’ IPOs on DFM’s Main Market and...
- The new program is in line with the efforts to strengthen Dubai’s position as global capital markets hub
- The DFM seeks to attract companies from sectors such as Technology, Transport & Logistics, Healthcare, Pharmaceutical, Manufacturing, and Agri-Tech
Market Report
Asian markets mixed with focus on inflation, Biden-Xi summit
Global markets have enjoyed about 18 months of healthy gains with many hitting record or multi-year highs .
- Global markets have enjoyed about 18 months of healthy gains with many hitting record or multi-year highs
- But with the recovery well on track and people returning to a semblance of normality, inflation is surging to levels not seen in decades
Business
ADGM meet promises development
This was the first meeting of ADGM’s new Board of Directors.
- The board members reiterated their commitment to progressing ADGM’s growth journey, and strengthening the financial sector
- They said they were also looking to attract global companies and investments, and develop a business environment underpinned by innovation
Market Report
Asian markets rise on outlook hope but eyes on inflation
A respite in the crisis surrounding troubled Chinese developer Evergrande also provided some much-needed support to the region.
- A respite in the crisis surrounding troubled Chinese developer Evergrande also provided some much-needed support to the region
- Analysts said dealers remained hopeful that the inflation spurt would not be long-lasting and flatten out as supply chains normalise
Business
DEWA to be listed on Dubai Financial Market in coming months
The listing is part of the Securities and Exchange Higher Commission’s strategy to increase the size of the stock market...
- The listing is part of the Securities and Exchange Higher Commission’s strategy to increase the size of the stock market in the Emirate to AED3 trillion
- The move is likely to raise the competitiveness of bourses and encourage more initial public offerings
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...
Business
Company News
Commodities hurt by a crisis of confidence
Market Report
Latest News
London FTSE hits new record peak at open
Market Report
Saudi Arabia, UAE set to lead IPO activities in GCC
YEARBOOK 2023
Markets rise on better-than-expected US growth
Market Report
Marketwatch: Recession fear hurts commodity market
"As the gold correction unfolded last week, platinum remained supported due to supply concerns from South Africa facing frequent power...
Opinion
Stock markets slip on auto woes, economy fears
Global equities mostly slid on auto sector woes and economic fears about the prospect of more interest rate hikes aimed...
Market Report
Stocks mixed, dollar firms on rate-hike fears
Stock markets traded mixed as last week's optimism gave way to worries that central banks may wait longer than expected...
Market Report
Most Read
Market Report
Stocks jump, dollar falls as Federal Reserve seen curbing rate rises soon
Equity markets rose, with Paris hitting a record-high, as investors reacted positively to easing inflation, recession concerns and some strong...
- In a sign of cooling inflation, Singapore's central bank kept rates steady, having previously hiked five times in a row.
- Stocks advanced "on increasing signs that the global round of interest rate hikes could be drawing to a close".
Business
DEWA approves payment of US$1.29bn in dividend to shareholders
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) which is listed on the Dubai Financial Market (DFM) on Monday...
- DEWA general assembly was chaired by Matar Humaid Al Tayer, Chairman of the Board of Directors of the utility.
- Saeed Mohammed Al Tayer, MD and CEO of DEWA and members of the Board of Directors also took part in the meet.
Opinion
Marketwatch: Commodities navigate turbulent waters
Grains sector was on track for its first monthly gain this year, bolstered by a resurgence in corn prices due...
- The energy sector experienced significant weakness, with a nearly 9 percent decline exacerbated by a 26 percent drop in US natural gas futures
- Grains sector was on track for its first monthly gain this year, bolstered by a resurgence in corn prices due to increased export demand