Sunday 3 May 2015

MIDEAST STOCKS-Saudi slips on Yemen concerns; Dubai retreats from technical barrier | Reuters

MIDEAST STOCKS-Saudi slips on Yemen concerns; Dubai retreats from technical barrier | Reuters:



"Saudi Arabia's stock market edged down on Sunday after reports that the Saudi-led coalition fighting Houthi rebels in Yemen had deployed ground troops there, while Dubai pulled back after failing to break through major technical resistance. 




An Arab ground force arrived in the southern Yemeni city of Aden on Sunday and started fighting Houthi forces, Yemen's Aden al-Ghad newspaper reported. A speaker for the Saudi-led coalition said it had not started any major ground offensive.



The Yemen conflict has so far had no visible impact on Saudi Arabia's economy, and it has remained within Yemen's borders. However, it is a concern for some Gulf investors who see a risk, however small, of an escalation into a regional conflict."



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