Google+ Followers

Sunday, 16 April 2017

MIDEAST STOCKS-Saudi banks down on 9/11 lawsuit, real estate weighs on Abu Dhabi | Reuters

MIDEAST STOCKS-Saudi banks down on 9/11 lawsuit, real estate weighs on Abu Dhabi | Reuters:

"Saudi Arabia's two largest listed banks were the main drag on the index on Sunday on news that U.S. insurers have filed a lawsuit against the lenders over the Sept. 11, 2001, attacks, while real estate shares and troubled Dana Gas weighed on Abu Dhabi. Shares of Al Rajhi Bank dropped 2.3 percent and, National Commercial Bank (NCB) lost 2.4 percent after the lawsuit was filed late on Wednesday in the U.S. District Court in Manhattan, by more than two dozen U.S. insurers affiliated with Travelers Cos, in the latest effort to hold entities in Saudi Arabia liable for the attacks. The two banks, and companies affiliated with Osama bin Laden's family and several charities are being sued for at least $4.2 billion."



'via Blog this'