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Tuqa Khalid

Qatar's real estate market faces reality check ahead of World Cup

Feb 17 2019

DOHA/DUBAI Qatar's Doha Tower, a spike-tipped cylinder that glows orange at night, won an award when finished in 2012 amid a Gulf-wide real estate boom, but today about half of its 46 floors are empty.

Qatar's real estate market faces reality check ahead of World Cup

Feb 15 2019

DOHA/DUBAI Qatar's Doha Tower, a spike-tipped cylinder that glows orange at night, won an award when finished in 2012 amid a Gulf-wide real estate boom, but today about half of its 46 floors are empty.

ANALYSIS-Qatar's real estate market faces reality check ahead of World Cup

Feb 15 2019

DOHA/DUBAI, Feb 15 Qatar's Doha Tower, a spike-tipped cylinder that glows orange at night, won an award when finished in 2012 amid a Gulf-wide real estate boom, but today about half of its 46 floors are empty.

MIDEAST STOCKS-Real estate weighs on Dubai, major Gulf markets down

Feb 03 2019

* Developers' MSCI exclusion weighs on Dubai index * Abu Dhabi up on financials * But banks drag down Saudi index * EGX30 boosted by telecoms, industrials By Tuqa Khalid DUBAI, Feb 3 Dubai's stock market fell sharply on Sunday dragged down by property stocks, as other major Gulf bourses also saw losses. In Dubai, the index dropped 1.1 percent. The emirate’s largest listed developer, Emaar Properties, slid 3.3 percent, Emaar Malls dropped 4.5 percent, and DAMAC properties fell 2.3 percent. Dubai’s weak real estate market has been a big drag for property shares this year. Prices have been falling quarter-on-quarter almost continually since the start of 2017, with analysts blaming a glut of properties on the market. "DFM index continued its downward performance due to expected deletion of Emaar Development, Emaar Malls and DAMAC properties from MSCI Index which will result in $200 million of outflow from these names," said Sanat Sachar, equity research analyst at Al Mal Capital. The three firms' performance over the past year sets them up for exclusion from the MSCI Emerging Markets Index in May under the compiler’s criteria for membership. The Saudi stock index was down 0.4 percent, dragged down by financials. Saudi British Bank (SABB) fell 1.8 percent, Alawwal Bank fell 1.6 percent and Banque Saudi Fransi (BSF) fell 2.8 percent after reporting decreased net income which the company said was due to an increase in total operating expenses because of higher impairment charges. The EGX 30 Index gained 0.8 percent boosted by telecommunications and industrials, as Orascom Investment Holding surged 8.4 percent and Telecom Egypt Co was up 6.5 percent. Abu Dhabi's index rose 0.6 percent lifted by financials, such as heavyweight First Abu Dhabi Bank, which rose 1.8 percent. This comes a week after it said it had proposed increasing its foreign ownership limit to 40 percent from 25 percent. Abu Dhabi Islamic Bank also rose 1.7 percent. Qatar’s index dropped 0.3 percent with Qatar Gas Transport shedding 1.7 percent and Qatar Insurance Co down 1.2 percent. SAUDI The index fell 0.4 pct to 8,527 points ARABIA DUBAI The index fell 1.1 pct to 2,540 points QATAR The index was fell 0.3 pct to 10,689 points ABU DHABI The index rose 0.6 pct to 5,076 points EGYPT The index rose 0.8 pct to 14,244 points KUWAIT The index fell 0.5 pct to 5,406 points OMAN The index fell 0.5 pct to 4,147 points BAHRAIN The index was up 0.3 pct at 1,396 points (Reporting by Tuqa Khalid Editing by Andrew Heavens)

Builders bruised by Dubai's real estate market woes

Dec 19 2018

DUBAI Dubai's real estate downturn is forcing construction and engineering firms to cut jobs and halt expansion plans, in turn raising fresh risks for the wider economy.

In Dubai, U.S. sanctions pressure historic business ties with Iran

Nov 19 2018

DUBAI With its Persian restaurants and shop signs in Farsi, Murshid Bazaar, a dense maze of alleys in Dubai's old quarter, has for decades been a centre for small-scale trade with Iran.

In Dubai, US sanctions pressure historic business ties with Iran

Nov 19 2018

DUBAI With its Persian restaurants and shop signs in Farsi, Murshid Bazaar, a dense maze of alleys in Dubai's old quarter, has for decades been a center for small-scale trade with Iran.

UPDATE 1-In Dubai, US sanctions pressure historic business ties with Iran

Nov 19 2018

* International banks unwilling to handle money transfers (Adds ministry comment)

Saudi's Falih says analysis shows need for 1 million bpd cut in oil output

Nov 12 2018

ABU DHABI Saudi Energy Minister Khalid al-Falih said on Monday OPEC and its allies agree that technical analysis shows a need to cut oil supply next year by around 1 million barrels per day (bpd) from October levels to balance the market.

Luxury islands developer in Dubai hopes for Expo 2020 boost

Nov 07 2018

DUBAI Heart of Europe, a cluster of luxury homes on six islands off the coast of Dubai, will be ready when the city hosts the World Expo in 2020, says its developer, but concern remains about over-supply and falling prices in the local property market.

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