MIDEAST STOCKS-Saudi stocks lifted by banks; Egypt up as Sawiris buys bank unit:
"Bank stocks led gains in Saudi Arabia on Thursday, as investors bet interest rate increases would widen lending margins. Egypt rallied as its top bank agreed to sell a unit to a company owned by billionaire Naguib Sawiris.
Most Middle East markets rallied after the U.S. Federal Reserve raised interest rates for the first time in more than nine years, a sign of confidence in the world's largest economy.
Gulf currencies are pegged or closely linked to the dollar and Saudi Arabia, Kuwait, Bahrain and the United Arab Emirates all swiftly raised their own rates."
'via Blog this'
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