DUBAI/RIYADH Saudi stocks fell sharply on Sunday, after attacks on two plants at the heart of the kingdom's oil industry a day earlier knocked out more than half of Saudi crude output. | Video
ABU DHABI, Sept 5 Abu Dhabi state fund Mubadala
Investment Company is expected to invest in Japanese group
SoftBank's Vision Fund 2 in the fourth quarter of 2019, which
will focus on technology projects, two sources familiar with the
matter told Reuters.
DUBAI/RIYADH Saudi Arabia may have to revise down economic growth estimates as lower crude output and tumbling oil prices take their toll on economic activity, with some economists forecasting a contraction this year in the world's biggest oil exporter.
DUBAI, Aug 21 Dubai-based Averda International,
one of the largest waste management firms in the Middle East and
North Africa, is in early discussions with banks about a
potential IPO which could value it at up to $700 million,
sources familiar with the matter said.
DUBAI Saudi Aramco has formally asked major banks to submit proposals for potential roles in its planned initial public offering, two sources said, in what could be the world's biggest IPO.
* Qatari stocks advance after three days of losses
* FAB weighs on Abu Dhabi stocks
By Saeed Azhar
DUBAI, Aug 18 Saudi shares ended lower on Sunday, hit by
weakness in banking stocks, while the Qatari index snapped a three-day losing
streak as Industries Qatar's rebounded after steep declines on its
The Saudi index eased by 0.3%, with Saudi British Bank
dropping about 1.3% and Samba Financial Group falling 1.3%. The Riyadh
market had resumed trade after closing last week for the Eidul Adha religious
Banking stocks have come under pressure in recent weeks from the Saudi
central bank's decision to follow the U.S. Federal Reserve in cutting interest
rates, which analysts expect to squeeze lenders' profit margins.
Qatar shares ended their losing run thanks to market heavyweight Industries
Qatar's 4.3% jump after six sessions of declines..
"IQ went down so much last week that it became a compelling valuation
despite the poor results," said Talal Samhouri, head of asset management at
Amwal, adding that the index was also buoyed by gains on international markets.
U.S. and European stocks surged on Friday on expectations that the European
Central Bank will cut interest rates, but the dollar pared gains against the
euro after a newspaper report said the German government was prepared to take on
new debt to provide economic stimulus.
The Abu Dhabi market slipped 0.3%, with First Abu Dhabi Bank (FAB)
Kuwaiti stocks fell 1.7%, hurt by a 2.2% drop in Kuwait Finance House
SAUDI ARABIA The index was down 0.3 % to 8,527 points
ABU DHABI The index lost 0.3% to 5,039 points
DUBAI The index was flat to 2,797 points
QATAR The index rose 1.7% to 9,782 points
EGYPT The index rose 0.7% to 1,4400 points
BAHRAIN The index fell 0.3% 1,530 points
OMAN The index was flat at 3,862 points
KUWAIT The index fell 1.7 at 6,572 points
(Reporting by Saeed Azhar
Additional reporting by Nafisa Eltahir in Cairo
Editing by David Goodman)
DUBAI/MUMBAI Saudi Aramco is planning a multibillion dollar investment in India's Reliance Industries as the energy giant diversifies its oil business, where weaker prices cut its first-half profit by 12%. | Video
DUBAI, Aug 12 Saudi Aramco is planning a
blockbuster investment in Reliance Industries, the
Indian firm announced on Monday, as the energy giant diversifies
its business, where weaker oil prices pared its first-half
profit by 12%.
* Crown Prince has stuck to $2 trillion value for Aramco -
LONDON/RIYADH/DUBAI Saudi Crown Prince Mohammed Bin Salman is insisting on a $2 trillion valuation of oil firm Aramco, even though some bankers and company insiders say the kingdom should trim its target to around $1.5 trillion, industry and banking sources said.