Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9 million) in February 2024, accounting for 8.7 percent of the month's total trading volume. Conversely, these investors offloaded shares valued at US$44.7 million (31.7 million dinars) during the same timeframe....
UAE stocks rise while Saudi market declines
DFM index jumped 0.6 percent, Abu Dhabi index rose 0.1 percent, Saudi Stock Exchange varied as index ended its trading with a fall of 1.7 percent, losing 195.48 points.
Global stocks move higher as US voters cast ballots
Global stock markets mostly moved higher as Americans headed to the polls in midterm polls. The dollar got back some of its recent losses versus the euro, while Chinese demand expectations were keeping oil prices in check. Europe's main markets were showing gains some two hours from the close save...
Stocks rise, oil falls tracking China lockdown policy
Stock markets mostly rose, extending last week's strong gains, while oil prices fell after China reaffirmed its commitment to its economically painful zero-Covid policy. The Chinese government said it would stick to its current plan, which involves harsh lockdowns and strict quarantine and testing regimens.
Global stocks rise on Fed optimism, zero-Covid China policy reports
Global stock markets rose as traders looked to the US Federal Reserve's interest rate decision hoping it will signal a more dovish approach to fighting inflation. The Fed is widely expected Wednesday to announce a fourth straight 75-basis-point rate hike leading to worries it will tip the world's top economy...
DFSA signs agreement with Bangladesh SEC
DUBAI, UAE - The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the Bangladesh Securities and Exchange Commission (BSEC) to enable exchange of information between the two authorities. The MoU was signed by Chief Executive of the DFSA Ian Johnston and Chairman of the BSEC...
Saudi energy minister blasts release of oil reserves ‘to manipulate markets’, warns of ‘painful’ times
"People are depleting their emergency stocks ... its profound purpose was to mitigate the shortage of supply," says Prince Abdulaziz at an FII event in Riyadh.
GM posts Q3 profit of US$3.3b
US automaker was bolstered by strong vehicle pricing.
UBS Q3 net profit is US$1.7b
The bank income in Q3 fell by 10 percent to $8.2billion.
Most markets up but China fear casts shadow
Most markets rose on hopes the Federal Reserve would soon slow its pace of interest rate hikes, though the mood was darkened over China after President Xi Jinping tightened his grip on power. The yen weakened against the dollar after a short rally after speculation Japanese authorities had stepped into...
OPEC-forced rally in crude oil strengthens markets
The fear of the global organizations such as International Energy Agency that the OPEC+ decision would increase energy security risks worldwide, leading to higher prices and volatility, and potentially ending up being the tipping point for a global economy was proved wrong, he adds.
Pound sinks against dollar on UK political uncertainty
The British pound sank against the dollar on political uncertainty after the resignation of UK Prime Minister Liz Truss, while weak economic data added to the turmoil. The dollar strengthened also on expectations that the US Federal Reserve would press ahead with its program of bumper interest rate hikes to...
Markets climb on bright US earnings, UK policy U-turns
Major global equities rose, with sentiment soothed after upbeat US earnings and Britain shredded its controversial budget. Analysts pointed to better-than-expected reports from Goldman Sachs and Johnson & Johnson as a positive driver for stocks. On Wall Street, the Dow Jones jumped two percent after a day of strong trading...
BoE widens action on ‘UK financial stability’ fears
The week had already seen action taken by the BoE and UK government aimed at bringing calm to markets. The move is in response to soaring UK bond yields and after the pound tumbled to a record low against the dollar since the government of new Prime Minister Liz Truss...
UAE equities vault on the back of high oil prices
High oil prices drove equities up on both the Abu Dhabi Stock Exchange and the Dubai Financial Market, but Saudi equities did not follow the trend, remaining subdued toward the close of the week.
Stocks fall, dollar boosted by US jobs data
Stocks mostly slid and the dollar surged after US jobs data showed only a timid slowdown in the labor market, setting the stage for further interest rate hikes. Equity markets have taken a battering as the US Federal Reserve has made it clear it intends to continue raising interest rates...
IMF chief urges action as global recession risks rise
IMF chief Kristalina Georgieva urged global policymakers to take concerted action as the risks of a worldwide recession are driven ever higher by repeated economic shocks. In a speech ahead of the fund's annual meetings next week, the IMF's managing director said it was critical to address challenges including inflation.
Asian, European markets surge on interest rate hopes
Asian and European stocks rallied and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans. Frankfurt and Paris equities soared over three percent in value after similar stellar gains in Tokyo, while London won two percent. Central banks across the world...
UAE takes part in G20 Finance Track in Indonesia
UAE's Ministry of Finance (MoF) participated in the third Framework Working Group (FWG) meeting within the G20 Finance Track for 2022.
World markets plunge on growing recession fears
Stock markets tumbled, the pound crashed against the dollar and oil prices slumped on growing recession fears after central banks this week hiked interest rates to fight inflation. Monetary policymakers have been forced to go on the offensive, warning that short-term hits to economies are less painful than the long-term...
Markets drop as Fed and European central banks hike rates
European markets were down in afternoon trades, with London's FTSE 100 shedding 0.5 percent after the Bank of England raised its rate again to combat inflation and signaled that the UK entered recession in the current quarter.
UAE says global pacts can help face labor related challenges
The UAE highlighted the significance of complying with international work standards and developing partnerships that empower countries to overcome the future challenges of the labor markets across the globe.
Jebel Ali Free Zone propels automotive markets growth
Jebel Ali Free Zone (Jafza), facilitated over 1.2 million metric tonnes (MT) from Dubai’s total volume of around 4.8 million MT of vehicle and transport commodities which transited through the emirate in 2021.
Stocks mostly slide; pound hits 37-year dollar low
Stock markets mostly slumped Friday, while the British pound tanked to a 37-year dollar low as weak UK retail sales stoked global recession fears. Sterling slid to $1.1351, the lowest level since 1985, on news that British retail sales tumbled by far more than forecast in August as shoppers faced...
Valuations tank but it’s not yet doom and gloom
Some of the fear in markets is unjustified, at least for now. Many of the economic factors that propelled deal-making last year, namely interest rates, haven’t actually changed yet either. VCs, corporates, and others are still flush with cash, and they need to put their money to work, he adds.Stock markets rally, as euro briefly surges
Stock markets rallied Monday, building on pre-weekend momentum as investors priced in the expectation of further interest rate hikes aimed at taming decades-high inflation. The euro surged, a day after German central bank chief Joachim Nagel signaled that the European Central Bank (ECB) would probably continue raising its key rate.
Stocks and oil prices rally, as dollar drops
Stock markets and oil prices rallied Friday, with investors largely pricing in more interest rate hikes aimed at taming runaway inflation. The dollar slid one percent versus the pound and euro after recent hefty gains. London's stock market jumped more than 1.5 percent in morning deals, mirroring advances in Paris...
UAE stocks post gain of US$2.72bn in market cap
The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments at the realty, banking, telecom sectors and cash inflows by institutions and individuals.
Stocks push higher, but yen and euro under pressure
European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain surging inflation. Frankfurt, London and Paris equities carved out gains despite poor German data, a day after tumultuous trading as Russia curbed gas supplies to Europe.
G7 to ‘urgently’ implement Russian oil price cap
G7 industrialized powers vowed Friday to "urgently" move towards implementing a price cap on Russian oil imports in a bid to cut a major source of funding for Moscow's war in Ukraine. The G7 said it was working towards a "broad coalition" of support for the measure but officials in...Markets volatile, world economy likely to grow 3.2% in 2022
As the world economy struggles to recover from the after-effects of the pandemic, financial markets are more volatile than ever.
UBS partners with Qatar for green project in Gulf country
Qatar Financial Center Authority and UBS Asset Management will collaborate to set up a green sustainable private markets initiative in Qatar, encouraging investments in the energy storage, eco-transport, food security and environmentally sustainable technology venture capital sectors.
Core inflation is unofficially dead
If the apex banks focus too much on core inflation, it will be a big mistake. Food and energy will be at the center of the crisis years with climate change and green transformation being inflationary in the years to come. Investors should increasingly invest in the tangible world to...
Stocks slump after Fed chair vows tough inflation fight
Stock slumped on Friday after Federal Reserve boss Jerome Powell pledged to act "forcefully" against soaring inflation in a battle that will be painful for Americans. The Fed has been on a campaign to raise interest rates and Powell said at Jackson Hole that the fight against inflation is not...
Jordan government committed to public-private engagement
The government is committed to expanding the management consulting services sector's participation in enhancing industrial production processes and facilitating access to global markets, said Youssef Shamali, Jordan's Minister of Industry, Trade and Supply.
Most Asian markets down as traders eye key Powell speech
All eyes are on a symposium in Jackson Hole, Wyoming where Fed boss Jerome Powell will deliver a speech that will be followed for an idea about the bank's next moves. A dip in price rises and signs of economic slowdown had raised hopes policymakers would ease up -- and...
More firms opt for M&As amidst financial distress
As money starts to dry up and subsequent funding rounds get more precarious, companies are expected to experience more acute financial distress and look for any semblance of certainty. This will lead more and more companies to be open to the possibility of M&As, Basta adds.
Conflicts, inflation keep GCC markets on their toes
Though GCC markets witnessed an IPOs rush in the first half of 2022 due to the rising investment interest, the future is not comforting for the rest of the year, says an expert.
Asian, European markets mixed as investors assess Fed outlook
A two-month rally from June lows appears to have run out of steam this week, with downward pressure coming after minutes from the Fed's most recent meeting showed it was determined to keep lifting borrowing costs until prices were brought under control.
WUWM Abu Dhabi 2022 to discuss global food chain
The World Union of Wholesale Markets (WUWM) Conference 2022, which will be held in the Middle East for the first time, offers an important opportunity to reshape global food systems, according to organizers and attendees.
GCC stocks rise amidst US-China tension
The performance of the Gulf stock exchanges varied this week, affected by several factors and events, most notably the tension that rose between the US and China.
ADX market value rises in Q2, 2022 to US$542.42bn
Abu Dhabi Securities Exchange has recorded its highest rise in terms of market value and trading value at end of the second quarter of 2022, according to the Arab Monetary Fund.
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 Arabia's market index TASI finished down 1.7 percent at 11,523 points. Abu Dhabi Securities Exchange ended with a loss of 0.3 percent, on Friday the index in Dubai, fell...
Oil prices climb up as Wall Street stocks post losses
Oil prices bounced and Wall Street stocks declined Monday, reversing the most recent trends as markets eye the end of a bruising second quarter. After positive sessions for several leading European and Asian bourses, Wall Street stocks were in the red most of the day, and finished modestly lower.
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 3,200 points
Oil, stocks fall again as economic recession looms large
Surging energy costs are fueling global inflation, with official data Wednesday showing the British annual rate hitting a fresh 40-year high above nine percent.
Equities struggle to shake off recession fears
Equities struggled Wednesday after a brief respite from last week's painful rout across world markets, with recession fears continuing to build as central banks hike interest rates to combat inflation. Fears about a global contraction have also put downward pressure on oil prices.
Equities climb in Asia as calm returns after sharp sell-off
Equities rose in most cities Tuesday in Asia as some stability returned to markets after last week's upheaval, but analysts warned of further pain for traders after central bank officials hinted at more interest rate hikes to reel in inflation. In commodities markets, oil extended gains as traders moved back...
Asian markets and oil prices tank on recession concerns
Asian markets fell again Monday and oil prices extended losses on growing fears that central bank moves to rein in soaring inflation will induce a recession. And while the S&P 500 and Nasdaq saw gains on Friday, there is a sense that indexes still have some way down to go...
Gulf equities fall, imitating global stock markets
Equities in the Middle East imitated the global stock markets, falling as central banks raised interest rates to fight off soaring inflation.
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 heat, Junaid Ansari of Kamco Invest tells TRENDS.