It recorded a 37% increase in net profit to $800m.

The Saudi firm's net profit rose 10% to $372m.

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.

The firm won the nod from CMA to increase capital by 700%.

The move will help develop ADX derivatives market.

GCC markets had a mixed week as Saudi stocks powered by the banking and commodities retail sectors posted gains, while the UAE stocks tanked, ending the weeks with losses.

Dubai, UAE— Salik, Dubai toll operator, has listed on Dubai Financial Market under the name of "SALIK", after the offering was oversubscribed by 49 times. It is the third public offering and listing on the DFM in 2022 to date, as part of the accelerated steps to implement Dubai’s strategy...

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...

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.

Muscat, Oman - The value of trading on the Muscat Stock Exchange increased last week to 9.6 million Omani riyals ($25m), compared to 9.1 million riyals ($23.65m) in the previous week, recording a growth of 5.5 percent. This rise came at a time when investors tended to diversify their portfolios,...

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.

The UAE bourses ended the week high with help from foreign investors, but the Saudi equities took a tumble under selling pressure.

In spite of monetary policy tightening, Egypt has seen the market capitalization of its stock exchange vault by $2.7 billion in August

After a nervous start to the week, the big stocks of the GCC, Al-Rajhi Bank, Retal Urban Development Company, and Emaar, boost the Saudi and the UAE markets, posting gains all around.

Dubai General Index (DFMGI) advanced 0.007 percent to 3,462.890 pts as blue-chip developer Emaar properties continued to hike, closing higher at AED6.100 after drawing $42.47 million in cash flows

The news of the loss of $6.4m in H1 led to a slide in firm's stock.

Despite a 3.9 percent increase in the food and beverage sector and a generally mixed week for the Saudi Stock Exchange, trading finished on Friday in the red.

The Abu Dhabi Securities Exchange was the leading Arab financial market in terms of performance last week, as its index surged by 3.6 percent, and its market value by 3.03 percent, according to the Arab Monetary Fund.

The healthcare company saw its profit vault to $40m in H1.

The Saudi firm posted a 73% fall in profit to $14m in H1.

Equities in the GCC posted modest gains this week while concerns persist about surging global inflation and how central banks across the world found upping interest rates a tool to tame it.

Abu Dhabi and Dubai stock markets climbed up, while the Saudi index tanked down by more than 1.1 percent this week, after being shut to mark the festival of Eid al-Adha.

Europe's main stock markets slid at the open on Thursday, as a fresh spike in US inflation reinforced expectations of more aggressive Federal Reserve interest rate hikes. In initial deals, London's FTSE 100 index lost 0.3 percent to 7,138.54 points compared with the closing level on Wednesday. In the eurozone,...

Twitter shares jumped Wednesday after a hedge fund revealed it had taken a stake in the firm based on its "strong case" against Elon Musk for moving to back out of his $44 billion buyout bid.

The euro struck parity with the dollar Tuesday for the first time in nearly 20 years as a cut in Russian gas supplies to Europe heightened fears of a recession in the eurozone. The European single currency hit exactly one dollar -- its lowest level since December 2002 -- before...

European stock markets rebounded on Wednesday, recovering some ground following sharp losses the previous session on fears of a global recession. Oil prices recovered slightly, but WTI remained under $100 per barrel. The euro hit a fresh 20-year low point under $1.02 -- the European single currency fast closing in...

Tadawul has posted more than 30 trades in single-stock futures on its launch as Aramco and Saudi Telecom Co. led the trading.

Europe's stocks recovered somewhat Monday as investors tentatively regained some optimism following the heavy losses in the financial markets last week on fears that rising interest rates could spark recession. London stocks won 1.1 percent at midday, while Frankfurt and Paris gained 0.5 percent and 1.0 percent respectively in afternoon...

Listed public joint stock companies have approved AED 34.4 billion ($9.36 billion) cash dividends for 2021, according to the Securities and Commodities Authority (SCA)'s Annual Report 2021. The figures released indicated that up to AED34 billion earnings were distributed in cash while AED396 million were in form of stock dividends....

Equities in the Middle East imitated the global stock markets, falling as central banks raised interest rates to fight off soaring inflation.

The painful combination of chronic 1970s-style inflation and a shrinking economy means that you might need to rebalance your investments, warns Nigen Green, the CEO of deVereGroup, an independent financial advisory, asset management and fintech organization. The warning from Green comes as global stock markets are tanking as investors fret...

Adding to the upbeat mood were comments from US commerce chief Gina Raimondo that she was considering lifting tariffs on some goods from China to help in the battle against inflation.

Markets rose Monday as investors rediscovered some verve after the release of healthy US data and as China eases some of its strict Covid curbs in Shanghai and Beijing, lifting hopes for the world's number two economy. The US reading lent hope that the worst of the inflation surge may...

Tokyo stocks opened higher on Thursday following gains on Wall Street, despite ongoing worries over inflationary pressure due to the war in Ukraine. Global markets perked up after the US Federal Reserve released its minutes in which policymakers, as investors expected, agreed that they need to raise rates by 50...

The impact of Beijing's zero-Covid strategy on the world's second-largest economy was revealed Monday when official data showed that retail sales and industrial production in April on-year had slumped to their lowest levels in more than two years.

World stock markets mostly sank Monday on stubborn fears over the impact of rising US interest rates, surging inflation and China's Covid lockdowns. Stock markets had dived last week after the Federal Reserve ramped up interest rates by a half-percentage point and flagged more hikes to tackle decades-high inflation.

Oil prices continue to spike, beefing up energy companies.

Asian and European stocks tanked Friday, accelerating a global selloff on fears over the impact of interest rate hikes that seek to tackle sky-high inflation. The pound hit a two-year low at $1.2276, one day after the Bank of England (BoE) lifted UK borrowing costs to a 13-year peak and...

Major stock markets mostly steadied Tuesday, with traders braced for a sharp US interest rate hike to curb soaring inflation. All eyes are on the conclusion Wednesday of the US Federal Reserve's two-day policy meeting, where it is expected to lift borrowing costs by half a percentage point for the...

Asian and European markets fell in holiday-thinned trade Monday following another tech-led rout on Wall Street, with focus on the Federal Reserve's expected interest rate hike this week. All eyes are on the US central bank's policy meeting this week, which is expected to see it hike borrowing costs by...

DEWA has no intention to sell more stock, after having raised $6.1 billion in a record initial public offering, the CEO of the Dubai Electricity and Water Authority, Saeed Al-Tayerm, told the media. It is also eyeing 7.4 billion dirhams ($2 billion) in 2023 profit, amid a prospective IPO of...

Stock markets sank Monday on growing concerns that lockdowns in China aimed at fighting a worsening Covid outbreak could threaten the country's economy and global supply chains. The losses extended a sell-off last week fueled by comments from Federal Reserve indicating officials will hike interest rates by half a point...

Morocco's official reserve assets amounted to 329.1 billion ($33.39 billion) Dirhams on 1 April 2022, up by 8.2 percent compared to the same period in 2021, Morocco's central bank (Bank Al-Maghrib) has said. During the week of April 7-13, 2022, the Dirham depreciated by 1.06 percent against the US Dollar...

The Saudi Central Bank, or SAMA, has launched licenses for consumer microfinance operations in the Kingdom. This follows the bank’s announcement of the third license for a consumer microfinance company in the Kingdom, Sulfah. Microfinance targets individuals and small businesses, including self-employed people, who may otherwise lack access to banking...

Twitter's board said it would carefully review what it termed Elon Musk's ‘unsolicited, non-binding’ offer and decide on a course of action that was ‘in the best interest of the company and all Twitter stockholders,’ after the Tesla founder made an offer of $54.2 per share of the social-media platform.

Spurred by yet another round of increase in oil prices, shares on Saudi stock exchanges opened higher on Sunday with the main index, TASI, gaining 0.52 percent in the opening trade while the parallel market, Nomu, trading flat at 24,902.

The Riyadh-based firm has appointed Solaiman Abdulaziz Altwaijri as its CEO

Feras Bin Ghassab Al-Harbi has held several leadership positions.

Bahrain-based Islamic investment bank GFH Financial Group intends to list on the Saudi stock exchange, Tadawul, and Abu Dhabi Securities Exchange, ADX, according to media reports.

The MoU is the latest in a series of strategic partnership agreements signed by ADX as part of its strategy for growth, announced at the beginning of 2021.