MIDEAST STOCKS-Saudi shares up on MSCI decision, Dubai listed Air Arabia tumbles | Reuters:
"Saudi shares rose at the open on Thursday, while Dubai-listed Air Arabia tumbled after the carrier revealed it had an exposure of $336 million to embattled Dubai private equity firm Abraaj. The Tadawul All-Share Index was up 0.3 percent, led by financial shares, after the kingdom’s bourse was granted inclusion by MSCI into the index provider’s emerging markets benchmark. Al Rajhi Bank and the country’s largest lender National Commercial Bank were both up one percent. On the Dubai bourse Air Arabia declined more than six percent, as investors continued to sell shares of the carrier this week since it said on Monday it had appointed a team of experts to ensure the airline’s investment in Abraaj, which has filed for provisional liquidation, is protected."
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