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Thursday, 1 October 2015

MIDEAST STOCKS-Markets sluggish despite firmer oil, global equities | Reuters

MIDEAST STOCKS-Markets sluggish despite firmer oil, global equities | Reuters:

"Higher oil prices and stronger
global equities failed to lift most stock markets in the Middle
East on Thursday and trading volumes were modest, showing many
investors remain wary of the longer-term outlook for stocks.

Brent oil rose nearly 2 percent to more than $49 a
barrel while Asian and European markets climbed following a
surge on Wall Street.

But this did not stimulate trade in the Gulf, where Saudi
Arabia's stock index dropped 0.8 percent. Al Rajhi Bank
sank 3.7 percent while miner Ma'aden, hit
this week by the global sell-off in commodities-related shares,
lost a further 3.1 percent to a nine-month closing low. "



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MIDEAST STOCKS-Saudi, Egypt consolidate in thin trade | Reuters

MIDEAST STOCKS-Saudi, Egypt consolidate in thin trade | Reuters:

"The Saudi Arabian and Egyptian stock markets consolidated in thin, early trade on Thursday as investors mostly ignored firmer oil prices and global equities.

The Saudi index was virtually flat after 45 minutes of trade. Among the few major gainers was Islamic insurer SABB Takaful, which added a further 3.9 percent after surging 9.4 percent on Wednesday.

Standard & Poor's said in a report this week that gross insurance premiums in Saudi Arabia could rise nearly 25 percent this year, mainly because of tariff increases."



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FirstFT - Syria air strikes, US budget - YouTube

FirstFT - Syria air strikes, US budget - YouTube: ""



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Emerging 'earthquake'? | FT Markets - YouTube

Emerging 'earthquake'? | FT Markets - YouTube: ""



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Saudi financier Al Sanea reaches out to international creditors in debt saga | The National

Saudi financier Al Sanea reaches out to international creditors in debt saga | The National:

"Maan Al Sanea, the Saudi Arabian financier, has decided to open talks with international creditors over US$3 billion of debt in dispute since the collapse of the Al Gosaibi business empire in 2009.

Mr Al Sanea, who is related to the Al Gosaibi family by marriage but estranged since the crash, published a notice in a Saudi newspaper on September 17, calling on creditors to register claims against his Saad Trading business.

“The company invites financial institutions that have claims against the company to send the details of such claims [via email]. Following the receipt of such information, the creditors will be notified of a meeting appointment as soon as possible to discuss these claims,” the advertisement said."



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Dubai property brokers revise forecasts as house price slide deepens | The National

Dubai property brokers revise forecasts as house price slide deepens | The National:

"House prices in Dubai fell by nearly 10 per cent on an annual basis in August, prompting brokers to revise their full year forecasts.

According to the property data company Reidin, this was split between apartment prices, which on average fell 10.4 per cent over the year, and villa prices which dipped 8 per cent over the same period.

Average house values in Dubai have been sinking since the start of the year, when the property broker JLL predicted that prices would fall by about a tenth."



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Oil edges up on estimate of strong demand, Syria a risk | Reuters

Oil edges up on estimate of strong demand, Syria a risk | Reuters:

"Crude oil prices edged up on Thursday as demand was estimated to have remained strong despite slowing growth in Asian economies, and as Russian and western air campaigns in Syria worried markets.

World oil demand surged in the first six months this year against the same period in 2014, due to a halving in crude oil prices and significant declines in the price of most fuels in many consuming countries, according to national estimates submitted to the Joint Oil Data Initiative (JODI).

JODI reported consumption averaged 71.4 million barrels per day (bpd) in the first six months of 2015, up from 69.1 million bpd in the year-ago period, an increase of 2.3 million bpd or 3.3 percent."



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MIDEAST STOCKS-Gulf mixed amid higher oil prices, global equities | Reuters

MIDEAST STOCKS-Gulf mixed amid higher oil prices, global equities | Reuters: "Gulf stock markets were mixed early on Thursday, despite higher oil prices, as investors remained cautious after weeks of volatility in global asset prices.

Dubai's index added 1.0 percent in a broad rally. Bbuilder Arabtec, the most heavily traded stock and one favoured by local speculators, rose 4.9 percent.

But Abu Dhabi was flat and Qatar's index slipped 0.2 percent lower. Drilling rig provider Gulf International Services gained 0.9 percent but petrochemical producer Industries Qatar slipped 0.8 percent."



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The Surprising Way Women are Doing Business in Iran - Bloomberg Business

The Surprising Way Women are Doing Business in Iran - Bloomberg Business:



"Unlike elsewhere in the Middle East Iran has a high proportion of women in the work place; both as entrepreneurs and in the board room. Bloomberg's Golnar Motevalli paid a visit to one entrepreneur just setting up, and another who's become a Titan of Industry."



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