MIDEAST STOCKS-Middle East mixed, sovereign fund buying lifts Qatar | Reuters:
"Middle East stock markets were
mixed on Thursday, supported by oil's turnaround but also
affected by a pull-back in global equities.
Markets in Asia and Europe fell on Thursday after weak
economic data from China and Japan. But oil prices, which had
initially fallen on the same data, pared losses and were
slightly positive when most markets in the Gulf closed.
Saudi Arabia's stock index edged down 0.4 percent
and National Commercial Bank, the kingdom's biggest
lender, was the main drag, sliding 1.7 percent."
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Thursday 10 September 2015
MIDEAST STOCKS-Saudi Arabian and Egyptian markets ease | Agricultural Commodities | Reuters
MIDEAST STOCKS-Saudi Arabian and Egyptian markets ease | Agricultural Commodities | Reuters:
"Stock markets in Saudi Arabia and Egypt fell in early trade on Thursday, tracking regional and global equities.
Saudi Arabia's main stock index fell 0.8 percent with most stocks in the red. National Commercial Bank, the kingdom's biggest lender, was the main drag, sliding 1.7 percent.
Rating agency Fitch said on Wednesday it expected some deterioration in Saudi banks' asset quality, particularly in the contracting and construction sector, and also in retail portfolios over the next 18 months."
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"Stock markets in Saudi Arabia and Egypt fell in early trade on Thursday, tracking regional and global equities.
Saudi Arabia's main stock index fell 0.8 percent with most stocks in the red. National Commercial Bank, the kingdom's biggest lender, was the main drag, sliding 1.7 percent.
Rating agency Fitch said on Wednesday it expected some deterioration in Saudi banks' asset quality, particularly in the contracting and construction sector, and also in retail portfolios over the next 18 months."
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Saudi oil maintains Asian market share - FT.com
Saudi oil maintains Asian market share - FT.com:
"Saudi Arabia maintained its market share among Asian oil importers in the first half of this year but threats to its long-term standing loom, according to the US energy department.
The share of these crude oil imports from Saudi Arabia averaged 23.2 per cent from January to June, compared with 23.9 per cent in the same period in 2014, the Energy Information Administration said on Wednesday.
The world’s largest crude exporter and biggest Opec producer “increased production and kept its export levels high, enabling it to maintain its market share”, the EIA said."
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"Saudi Arabia maintained its market share among Asian oil importers in the first half of this year but threats to its long-term standing loom, according to the US energy department.
The share of these crude oil imports from Saudi Arabia averaged 23.2 per cent from January to June, compared with 23.9 per cent in the same period in 2014, the Energy Information Administration said on Wednesday.
The world’s largest crude exporter and biggest Opec producer “increased production and kept its export levels high, enabling it to maintain its market share”, the EIA said."
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MIDEAST STOCKS-Gulf markets fall, tracking oil, Asian stocks | Reuters
MIDEAST STOCKS-Gulf markets fall, tracking oil, Asian stocks | Reuters:
"Gulf stock markets fell in early trade on Thursday, moving in line with oil prices and global stocks and lacking positive domestic catalysts.
Brent crude had edged down on Thursday as weak Japanese and Chinese economic data fuelled concerns that low levels of investment could further erode already slowing global growth. The same data, as well as overnight losses on Wall Street, weighed on Asian stocks.
Producer prices in China, one of the biggest markets for Gulf oil and petrochemicals companies, fell for the 42nd straight month in the latest sign that deflation remains a significant risk for the world's second-largest economy."
'via Blog this'
"Gulf stock markets fell in early trade on Thursday, moving in line with oil prices and global stocks and lacking positive domestic catalysts.
Brent crude had edged down on Thursday as weak Japanese and Chinese economic data fuelled concerns that low levels of investment could further erode already slowing global growth. The same data, as well as overnight losses on Wall Street, weighed on Asian stocks.
Producer prices in China, one of the biggest markets for Gulf oil and petrochemicals companies, fell for the 42nd straight month in the latest sign that deflation remains a significant risk for the world's second-largest economy."
'via Blog this'
Saudi Arabia Supermarket Chain Danube Said to Plan Stake Sale - Bloomberg Business
Saudi Arabia Supermarket Chain Danube Said to Plan Stake Sale - Bloomberg Business:
"Saudi Arabian supermarket chain Danube Co. Ltd is seeking to sell a stake in a deal that would value the business at about $2 billion, according to two people with knowledge of the matter.
Bahrain-based Gulf International Bank BSC is advising Danube’s owners, the Jeddah-based Bin Dawood Group, on the sale, the people said, asking not to be identified as the information is private. Investcorp Bank BSC, also based in Bahrain, is in talks to buy a stake of about 20 percent, the people said.
The value of completed mergers and acquisitions across the Middle East and Africa fell 11 percent this year to $15.8 billion, according to data compiled by Bloomberg, amid a drop in oil prices and volatility on the region’s equity markets. Investcorp’s private equity business is its oldest and largest unit. Best known for taking luxury brands Tiffany & Co. and Gucci Ltd. public, the company hired David Tayeh from CVC Capital Partners as head of corporate investment business in North America, it said in August."
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"Saudi Arabian supermarket chain Danube Co. Ltd is seeking to sell a stake in a deal that would value the business at about $2 billion, according to two people with knowledge of the matter.
Bahrain-based Gulf International Bank BSC is advising Danube’s owners, the Jeddah-based Bin Dawood Group, on the sale, the people said, asking not to be identified as the information is private. Investcorp Bank BSC, also based in Bahrain, is in talks to buy a stake of about 20 percent, the people said.
The value of completed mergers and acquisitions across the Middle East and Africa fell 11 percent this year to $15.8 billion, according to data compiled by Bloomberg, amid a drop in oil prices and volatility on the region’s equity markets. Investcorp’s private equity business is its oldest and largest unit. Best known for taking luxury brands Tiffany & Co. and Gucci Ltd. public, the company hired David Tayeh from CVC Capital Partners as head of corporate investment business in North America, it said in August."
'via Blog this'
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