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Nasdaq edges to record
The Dow Jones Industrial Average dropped 0.8 percent.
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S&P affirms Saudi Arabia’s A/A-1 credit rating
Riyadh, Saudi Arabia - The international credit rating agency S&P Global Rating affirmed its foreign and local currency sovereign credit ratings of Saudi Arabia at 'A/A-1' with stable outlook. The agency indicated in its report that this rating affirmation is a result of the continuation of the Kingdom's economic and... -
Gold, bitcoin pull back from records as US stock markets slip
On Wall Street, the Dow and the S&P 500 both finished 1.0 percent lower, while the tech-rich Nasdaq composite ended the day down 1.7 percent, pulled down by firms including Apple and Tesla. Despite the gloomy trading day in New York, US stock indices are still up sharply on the... -
S&P estimates UAE GDP to grow beyond 5% in 2024
According to Tatiana Leskova, Associate Director of Corporate Ratings at Standard and Poor's Global Ratings that the global economy while remaining subdued, operating at subpar growth levels, S&P estimates that UAE GDP expanded at over 3 percent in 2023, including close to 6 percent growth for the non-oil sector”. -
Non-oil sector to drive UAE economic growth to 3% in 2023: S&P
S&P analysts anticipate continued growth within the UAE's robust tourism sector. The country's ability to host major international events is expected to play a pivotal role in achieving the UAE's ambitious goal of attracting 40 million visitors by 2030, accompanied by plans to expand the number of hotel rooms to... -
Emaar reports 15% profit growth in H1 2023
The company achieved property sales of $5.5bn in the period. -
Moody’s upgrades Oman’s credit rating to Ba2 with positive outlook
Muscat, Oman - Moody's has upgraded Oman's credit rating from Ba3 to Ba2 while maintaining a positive outlook due to the reduction in public debt and the improvement in the Sultanate's ability to meet its financial obligations in 2022. This comes after S&P revised Oman's outlook from stable to positive... -
European economy reaches 10 month high after surge in March
BRUSSELS, BELGIUM - Economic growth in the eurozone accelerated in March and hit a 10-month high, according to a closely watched survey published on Friday, despite turmoil in the markets and concerns over banks. The S&P Global Flash Eurozone purchasing managers' index (PMI) showed the indicator at 54.1, up from 52.0... -
Nasdaq surges 3% as Fed Chair says could soon ease rate hikes
Stocks have risen over the last month, in part on expectations that the Fed would soon pivot on monetary policy. Powell's appearance had been viewed as a potential risk to equities if he had adopted a more hawkish tone. Major indices had been near flat prior to the Powell event,... -
Stocks rise, dollar slips as Fed signals softer rate hike pace
Wednesday's much-anticipated minutes showed most US central bank chiefs felt smaller increases would "likely soon be appropriate" as the economy shows signs of weakness following almost a year of monetary tightening. -
S&P raises Qatar’s credit rating citing its declining debt load
The rating agency predicts that increased oil prices would lead to significant fiscal surpluses in 2022–2023. -
GCC banks look at pre-Covid profitability level
Earnings of many Gulf banks may hit nearly pre-pandemic levels by the year end, owing to high oil prices and rising interest rates that will support their creditworthiness. -
S&P updates its outlook for Saudi Arabia to positive
In a statement, issued on Saturday, it assessed the kingdom's short and long-term foreign and local currency sovereign credit ratings to A-/A-2. -
S&P upgrades Ukraine’s credit score of foreign debt
S&P Global Ratings said that boosting the country's credit score of foreign debt to CCC+ "reflects strong committed international financial support to Ukraine." -
Twitter’s stock tanks as Musk trashes lawsuit threat
Twitter shares plunged Monday as Elon Musk issued a mocking, defiant commentary about a looming court battle after he ditched a $44 billion buyout of the social media giant. -
Saudi non-oil economy shows improvement in June: S&P Global
Saudi Arabia's non-oil economy has recorded a strong improvement in business conditions in June, according to the latest Purchasing Managers Index data report from S&P Global. -
UAE banks recover, but customers remain unsatisfied
The sector, according to a KPMG report, scores low on customer satisfaction due to operational issues, lack of timely support, long waiting times and lack of feedback. -
S&P gives Saudi economy positive rating after recovery
S&P has revised its outlook for Saudi Arabia from a stable to positive in the light of the recovery of the kingdom's economy from the pandemic, driven by higher oil prices. -
Inflation, geopolitics might worsen credit conditions: S&P
The credit ratings agency has said the prospects for global economic growth have softened, even if it was to a modest extent. -
S&P warns of fewer sukuk issues during 2022
Sukuk issuance volumes will not grow significantly in 2022 as global interest rates rise and funding needs for Gulf economies fall, according to a report from S&P Global Ratings. -
S&P lowers Turkey outlook to negative, citing ‘rising risks’
Turkey's annual inflation has surged above 20 percent to its highest level in three years after President Recep Tayyip Erdogan installed loyalists at the central bank who share his unorthodox vision that high borrowing costs cause inflation rather than slow it down. -
S&P devises new credit rating scale for Saudi Arabia
S&P Global Ratings has introduced a new national credit rating scale for Saudi Arabia in response to a growing interest in the kingdom’s local currency debt markets. -
Ras Al Khaimah set for healthy post-pandemic growth: S&P Global
The emirate is expected to see a growth of around 2.5 percent between 2021 and 2024. -
S&P says global debt could reach about 260 percent of GDP by end of 2021
Global debt levels could reach about 260 percent of gross domestic product (GDP) by the end of 2021, though low interest rates mean the ability to service it will be manageable, according to S&P Global Ratings. -
S&P says private sector lending in GCC to stay low, but Saudi Arabia to buck trend
S&P Global Ratings has forecast that private sector lending will remain muted for one to two years in GCC countries. But, it added, that Saudi Arabia might buck the trend. -
S&P revises Oman’s credit rating to positive on the back of fiscal improvement
S&P has revised up Oman’s credit outlook to positive from stable on the expectation that the sultanate’s reform program will limit increases in government debt in the coming years. -
Higher oil prices, widespread vaccine roll-out to drive Saudi economic rebound: S&P
Saudi Arabia’s economy will benefit from higher oil prices and its successful COVID-19 vaccine roll-out, ratings agency S&P Global has said as it affirmed the Kingdom’s stable outlook in its latest report. -
US stocks continue to advance
The S&P 500 and Nasdaq advanced after posting records at the close of trading Friday -
S&P, Nasdaq end at records following Powell speech
At the closing bell, the broad-based S&P 500 had advanced 0.9 percent to 4,509.37 -- its first close over the 4,500 mark -
Nasdaq, S&P 500 again end US trading at records
The broad-based S&P 500 closed 0.2 per cent higher at 4,496.19, its second consecutive record -
Dubai property market may be on a roll soon
The developer has reported a surge in pre-sales in the UAE to $2.85 billion S&P Global Ratings give Emaar Properties a stable outlook The Dubai property market might not be booming yet, but the first signs of recovery have begun to appear on the horizon. Emaar Properties, the developer of...