May 3, 2020 / 4:24 AM / 25 days ago

MIDEAST - Factors to watch - May 3

DUBAI, May 3 (Reuters) - Here are some factors that may affect Middle East stock markets on Sunday. Reuters has not verified the press reports and does not vouch for their accuracy.

INTERNATIONAL/REGIONAL

* GLOBAL MARKETS-Stocks fall as Trump’s China tariff threat adds to fears over virus-hit economies

* Oil firms, ends with weekly gain, as OPEC+ begins record cuts

* MIDEAST STOCKS-Saudi outperforms region on oil, ease in lockdown

* PRECIOUS-Gold jumps 1% as Trump threatens new tariffs on China

* Three new coronavirus cases in Yemen bring total confirmed to 10

* Iran to issue sukuk securities to fund oil, gas projects

* Lebanon banks reject rescue plan as government asks IMF for help

* U.S. sanctions Iranian-Iraqi businessman over support of Iran’s Quds Force

* UAE calls on all Libyan parties to commit to political process, renews support to Haftar

* Iraq faces problems cutting 1 mln bpd of crude output -sources

* Emirates, Etihad warn air travel recovery could take three years - business council

* MENA fund managers to raise Egypt investments, say Saudi Arabia and UAE most vulnerable

* Saudi Aramco sets May propane and butane prices at $340 a tonne -statement

* Middle East Crude-Benchmarks rise; ESPO discount narrows; Saudis may cut June OSPs

EGYPT

* Egyptian bank net foreign assets plunge in March

* Unfazed by coronavirus, Egypt’s farmers harvest their wheat

* Egypt’s M2 money supply accelerates to 14.82% year-on-year in March

* Egypt to auction $800 million in dollar-denominated T-bills

* Lecico Egypt Reopens Unit Lecico For Ceramics After Two Weeks

SAUDI ARABIA

* Saudi Arabia isolates industrial area in eastern city of Dammam

* Saudi to take ‘strict, painful’ measures to deal with coronavirus impact

* Saudi Feb Merchandise Exports Decline By 14.5% And Imports Rise By 3.2% Y/Y - Govt Data

* Saudi’s Ma’aden Q1 Loss Widens

* Zain Saudi Q1 Profit Falls

UNITED ARAB EMIRATES

* Moody’s cuts DP World rating, sees growing link to Dubai’s credit quality

* Emirates to operate limited passenger services during May - WAM

* Troubled Finablr reports nearly $1 billion more in debt

* Dubai’s CAFU Sees Nearly 40% Increase In Orders As UAE Relaxes COVID-19 Lockdown

* Moody’s lowers Dubai’s Emaar Properties outlook to negative

* Dubai Islamic Bank’s net profit drops 18% amid coronavirus charges

QATAR

* Qatar Insurance issues $300 mln in perpetual subordinated Tier 2 capital notes - agency

* Qatar’s Barwa Real Estate Q1 Profit Falls

* Qatar Islamic Insurance Q1 Profit Rises

* Qatar Petroleum plans job and cost cuts amid market downturn- sources

KUWAIT

* Kuwait approves listing of Az-Zour North IWP in Boursa Kuwait - statement

* Kuwait’s Jazeera Airways lays off over a third of staff, not seeking state aid

* Kuwait’s KPC informs customers of further crude volumes cuts until Dec- sources

OMAN

* Oman plans about 30% cut in July crude allocations

* Oman crude OSP falls to $23.65/bbl for June, lowest since 2002 -DME data

Compiled by Dubai newsroom

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