Why Mideast Stock Markets Will Never Be The Same After Monday - Bloomberg Business:
"Saudi Arabia is opening one of the world’s most-restricted stock markets to foreigners for the first time on Monday.
The move comes as the biggest economy in the Middle East seeks to reduce its reliance on oil income, which accounts for about 90 percent of government revenue, and as the kingdom burns through foreign reserves at a record pace.
What’s the big deal?"
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Sunday, 14 June 2015
MIDEAST STOCKS-Saudi Arabia rises ahead of opening to foreigners | Reuters
MIDEAST STOCKS-Saudi Arabia rises ahead of opening to foreigners | Reuters:
"Saudi Arabia's bourse rose on Sunday ahead of its opening to direct foreign investment, though it remained unclear if any foreign funds would be able to buy local shares when the new regulations take effect on Monday.
The main Saudi stock index climbed 1.3 percent, buoyed by blue chips which are seen as most likely to be targeted by foreign investors, and have been included in a provisional benchmark by index compiler MSCI. Turnover was modest.
Petrochemicals giant Saudi Basic Industries jumped 2.3 percent despite weak oil prices. Miner Ma'aden surged 3.7 percent and National Commercial Bank, the biggest Saudi Arabian lender, added 1.2 percent."
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"Saudi Arabia's bourse rose on Sunday ahead of its opening to direct foreign investment, though it remained unclear if any foreign funds would be able to buy local shares when the new regulations take effect on Monday.
The main Saudi stock index climbed 1.3 percent, buoyed by blue chips which are seen as most likely to be targeted by foreign investors, and have been included in a provisional benchmark by index compiler MSCI. Turnover was modest.
Petrochemicals giant Saudi Basic Industries jumped 2.3 percent despite weak oil prices. Miner Ma'aden surged 3.7 percent and National Commercial Bank, the biggest Saudi Arabian lender, added 1.2 percent."
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Debt burden to grow heavier for Bahrain if oil prices remain low, says ratings agency S&P | The National
Debt burden to grow heavier for Bahrain if oil prices remain low, says ratings agency S&P | The National:
"Bahrain will face a rising debt burden should the oil markets remain bearish, says credit ratings agency Standard & Poor’s.
S&P has reaffirmed Bahrain’s foreign and local currency sovereign credit ratings at BBB minus and A-3, respectively. But it said its outlook for the country remained negative.
Last year, about 65 per cent of Bahrain’s fiscal revenue came from crude oil receipts."
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"Bahrain will face a rising debt burden should the oil markets remain bearish, says credit ratings agency Standard & Poor’s.
S&P has reaffirmed Bahrain’s foreign and local currency sovereign credit ratings at BBB minus and A-3, respectively. But it said its outlook for the country remained negative.
Last year, about 65 per cent of Bahrain’s fiscal revenue came from crude oil receipts."
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Dubai one of worst performing global housing markets in Q1 | The National
Dubai one of worst performing global housing markets in Q1 | The National:
"Dubai was one of the worst-performing housing markets in the first quarter of 2015, according to new research.
Knight Frank’s Global House Prices Index scored the city 53rd out of 56 locations monitored - one place lower than Greece but higher than China, Cyprus and Ukraine.
Property prices in the emirate fell by 6.1 per cent over a 12-month period, according to the firm, and were 3.7 per cent lower than the previous quarter."
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"Dubai was one of the worst-performing housing markets in the first quarter of 2015, according to new research.
Knight Frank’s Global House Prices Index scored the city 53rd out of 56 locations monitored - one place lower than Greece but higher than China, Cyprus and Ukraine.
Property prices in the emirate fell by 6.1 per cent over a 12-month period, according to the firm, and were 3.7 per cent lower than the previous quarter."
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