Google+ Followers

Sunday, 10 July 2016

Saudi private sector growth maintains momentum | GulfNews.com

Saudi private sector growth maintains momentum | GulfNews.com:

"Growth in Saudi Arabia’s non-oil private sector was maintained at a steady rate in June, according to the latest Purchasing Managers’ Index (PMI) data from Emirates NBD.

Output and new order growth remained very strong in June, although the pace of activity and order growth in June was slightly slower than May.

“The non-oil sector in Saudi Arabia is expanding at a robust rate, despite low oil prices, government spending cuts and more recently, higher interbank lending rates. Firms appear to be increasing operating efficiency, as jobs growth remains sluggish even as activity and new orders are rising,” said Khatija Haque, Head of Mena Research at Emirates NBD."



'via Blog this'

Emirates NBD's Haque: Saudi Arabia Growth Is Robust - Bloomberg

Emirates NBD's Haque: Saudi Arabia Growth Is Robust - Bloomberg:





"Khatija Haque, head of MENA research and senior economist at Emirates NBD, and Bloomberg's Tracy Alloway discuss the latest PMI data for Saudi Arabia and the U.A.E., Saudi Arabia's economy and the outlook for oil. They speak to Yousef Gamal El-Din on "Bloomberg Markets Middle East." (Source: Bloomberg)"



'via Blog this'

MIDEAST STOCKS-Egypt jumps on further devaluation speculation | Reuters

MIDEAST STOCKS-Egypt jumps on further devaluation speculation | Reuters:

"Egypt's stock market posted its largest one-day gain in nearly four months on Sunday as speculation over a further currency devaluation in the North African country combined with positive global cues to propel the exchange higher.

In the first day of trading after the Eid al-Fitr holiday, which marks the end of the Muslim fasting month of Ramadan, Egypt's main index jumped 4.7 percent.

The surge came after a 2.9 percent increase last Monday, the last session before the holiday, following comments from Egypt's central bank governor which said the Egyptian pound should be a market-based currency where demand and supply set the price."



'via Blog this'

Brexit fallout – the economic impact in six key charts | Business | The Guardian

Brexit fallout – the economic impact in six key charts | Business | The Guardian:

"Britain’s surprise decision to quit the European Union at the 23 June referendum sent shockwaves across global markets, triggered a political crisis in the UK, and pushed the economy into uncharted waters.

Here are six key charts that show the immediate impact of the Brexit vote:"



'via Blog this'

MIDEAST STOCKS-Saudi, Egypt stock markets rise in early post-Eid trade | Reuters

MIDEAST STOCKS-Saudi, Egypt stock markets rise in early post-Eid trade | Reuters:

"Saudi Arabia's stock market rose in early trading on Sunday, the first day many Middle Eastern bourses re-opened after the Eid al-Fitr holiday, while the performance of other regional exchanges were mixed.

The main Tadawul index rose 0.8 percent, with most blue chip stocks higher, including Al Rajhi Bank and Saudi Basic Industries Corp, which were 2.6 percent and 0.3 percent higher respectively.

Saudi Arabia's midcaps were also broadly firmer on the first day of trading since June 30, led by Fawaz Alhokair and Dar Al Arkan which jumped respectively 4.3 percent and 7 percent."



'via Blog this'

US aircraft sales to Iran blocked by House, jeopardising $25bn Boeing deal | World news | The Guardian

US aircraft sales to Iran blocked by House, jeopardising $25bn Boeing deal | World news | The Guardian:

"The House of Representatives has passed a measure that would block US aircraft sales to Iran, potentially undercutting a Boeing deal with Tehran worth up to $25bn.

Two approved amendments to an appropriations bill from Representative Peter Roskam would ban sales from Boeing and European rival Airbus, amid concerns the aircraft could be used for military purposes, the congressman said in a statement on Friday.

One amendment would prohibit the Office of Foreign Assets Control from using funds to authorise a license necessary to allow aircraft to be sold to Iran. A second would bar loans from US financial institutions to purchase militarily adaptable aircraft."



'via Blog this'