QP to allocate free Qamco shares for Qataris covered by social security law - The Peninsula Qatar:
Qatar Petroleum has announced that it will allocate 750 free shares in Qatar Aluminium Manufacturing Company (Qamco), under incorporation, to all registered Qatari beneficiaries covered by the social security law.
The beneficiaries stipulated by the law include the elderly, those unable to work, orphans, needy families, the disabled, divorced women, widows, prisoners’ families and other categories.
In addition to the free Qamco shares, members of the entitled groups can subscribe to an additional number of shares, if they wish, and pay the due share price in accordance with the Offering Memorandum.The details of the free share allocation will be finalised in consultation with the various concerned entities.
Monday, 29 October 2018
Oil dips as Russia signals output will stay high | Reuters
Oil dips as Russia signals output will stay high | Reuters:
Oil prices edged lower on Monday, with futures on track for the worst monthly performance since mid-2016, after Russia signaled that output will remain high and as concern over the global economy fueled worries about demand for crude.
Brent crude LCOc1 futures fell 28 cents to settle at $77.34 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 55 cents to settle at $67.04 a barrel.
Global benchmark Brent was on track to drop about 6.6 percent for the month. U.S. crude was on course to fall about 8.5 percent. Both were set for the steepest monthly decline since July 2016.
Oil prices edged lower on Monday, with futures on track for the worst monthly performance since mid-2016, after Russia signaled that output will remain high and as concern over the global economy fueled worries about demand for crude.
Brent crude LCOc1 futures fell 28 cents to settle at $77.34 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 55 cents to settle at $67.04 a barrel.
Global benchmark Brent was on track to drop about 6.6 percent for the month. U.S. crude was on course to fall about 8.5 percent. Both were set for the steepest monthly decline since July 2016.
Qatar's Doha Bank cuts UAE exposure with asset swaps -sources | Reuters
Qatar's Doha Bank cuts UAE exposure with asset swaps -sources | Reuters:
Qatar’s Doha Bank has cut its exposure to the United Arab Emirates though an asset swap with UAE banks amid strained relations between the two countries, four sources said.
As part of moves by some Qatari companies to try to trim exposure to the Gulf’s main financial and wealth centre, Doha Bank has been in talks with UAE banks to sell some of its loan book and other assets since last year.
Qatar has been locked in a protracted dispute with Saudi Arabia, the UAE, Bahrain and Egypt since June 2017 when the four accused Qatar of backing terrorism, something Doha has denied.
Qatar’s Doha Bank has cut its exposure to the United Arab Emirates though an asset swap with UAE banks amid strained relations between the two countries, four sources said.
As part of moves by some Qatari companies to try to trim exposure to the Gulf’s main financial and wealth centre, Doha Bank has been in talks with UAE banks to sell some of its loan book and other assets since last year.
Qatar has been locked in a protracted dispute with Saudi Arabia, the UAE, Bahrain and Egypt since June 2017 when the four accused Qatar of backing terrorism, something Doha has denied.
MIDEAST STOCKS-Saudi extends gain after earnings, banks weigh on Abu Dhabi | Reuters
MIDEAST STOCKS-Saudi extends gain after earnings, banks weigh on Abu Dhabi | Reuters:
Saudi Arabia’s stock index closed higher on Monday, aided by strong corporate earnings, while Abu Dhabi recovered some of its losses after opening at its lowest in two months.
Stock exchange data on Sunday showed that foreigners sold a net 2.34 billion riyals ($623.85 million) in the Saudi stock market for the week ending Oct. 25, but the bourse was supported by local institutions, which bought 8.06 billion riyals worth of shares.
Foreign ownership is now down to 1.65 percent, after stripping out strategic shareholders, from 1.94 percent the week before and 2.17 percent in the week ending Oct. 11, Arqaam Capital said in a note on Monday.
Saudi Arabia’s stock index closed higher on Monday, aided by strong corporate earnings, while Abu Dhabi recovered some of its losses after opening at its lowest in two months.
Stock exchange data on Sunday showed that foreigners sold a net 2.34 billion riyals ($623.85 million) in the Saudi stock market for the week ending Oct. 25, but the bourse was supported by local institutions, which bought 8.06 billion riyals worth of shares.
Foreign ownership is now down to 1.65 percent, after stripping out strategic shareholders, from 1.94 percent the week before and 2.17 percent in the week ending Oct. 11, Arqaam Capital said in a note on Monday.
Foreign investments worth $300mln pour into Abu Dhabi shares in first nine months: stock market chief | ZAWYA MENA Edition
Foreign investments worth $300mln pour into Abu Dhabi shares in first nine months: stock market chief | ZAWYA MENA Edition:
The net foreign investments in the Abu Dhabi Securities Exchange (ADX) stood at 1.1 billion dirhams ($300 million) for the first nine months of 2018, Rashed Al Blooshi, the chief executive of ADX said on Monday.
“The foreign net position is positive and stood at 1.1 billion dirhams,” Al Blooshi told reporters on the sidelines of the annual conference of the Federation of Euro-Asian Stock Exchanges (FEAS) in Abu Dhabi.
ADX’s manager of corporate communications, Abdulrahman Saleh Al-Khateeb added that the total institutional investment inflows were around 1.6 billion dirhams for the same period.
The net foreign investments in the Abu Dhabi Securities Exchange (ADX) stood at 1.1 billion dirhams ($300 million) for the first nine months of 2018, Rashed Al Blooshi, the chief executive of ADX said on Monday.
“The foreign net position is positive and stood at 1.1 billion dirhams,” Al Blooshi told reporters on the sidelines of the annual conference of the Federation of Euro-Asian Stock Exchanges (FEAS) in Abu Dhabi.
ADX’s manager of corporate communications, Abdulrahman Saleh Al-Khateeb added that the total institutional investment inflows were around 1.6 billion dirhams for the same period.
Mideast Stocks: Saudi edges up after earnings, Abu Dhabi at two-month low | ZAWYA MENA Edition
Mideast Stocks: Saudi edges up after earnings, Abu Dhabi at two-month low | ZAWYA MENA Edition:
Saudi Arabia's stock index gained on Monday, buoyed by strong earnings, while most major Gulf markets fell, with Abu Dhabi hitting its lowest in two months.
Stock exchange data on Sunday showed that foreigners sold a net 2.34 billion riyals ($624 million) in the Saudi stock market for the week ending Oct. 25, but the bourse was supported by local institutions, which bought 8.06 billion riyals worth of shares.
The data indicated that foreign selling had slowed from the previous week. It hit a record then investors were spooked by the killing of Saudi journalist Jamal Khashoggi.
Saudi Arabia's stock index gained on Monday, buoyed by strong earnings, while most major Gulf markets fell, with Abu Dhabi hitting its lowest in two months.
Stock exchange data on Sunday showed that foreigners sold a net 2.34 billion riyals ($624 million) in the Saudi stock market for the week ending Oct. 25, but the bourse was supported by local institutions, which bought 8.06 billion riyals worth of shares.
The data indicated that foreign selling had slowed from the previous week. It hit a record then investors were spooked by the killing of Saudi journalist Jamal Khashoggi.
At least three companies to list in Oman next year - exchange director | Reuters
At least three companies to list in Oman next year - exchange director | Reuters:
At least three companies are expected to list on the Omani stock exchange next year, the director-general of Muscat Securities Market said on Monday.
Ahmed Saleh Al Marhoon, speaking at a conference in Abu Dhabi, said one of the firms expected to list in 2019 is a power generating company, but he did not name it.
Government bonds and sukuk will also be listed next year, he added.
At least three companies are expected to list on the Omani stock exchange next year, the director-general of Muscat Securities Market said on Monday.
Ahmed Saleh Al Marhoon, speaking at a conference in Abu Dhabi, said one of the firms expected to list in 2019 is a power generating company, but he did not name it.
Government bonds and sukuk will also be listed next year, he added.
Oil prices fall as investors wary of trade slowdown | Reuters
Oil prices fall as investors wary of trade slowdown | Reuters:
Oil prices dipped on Monday amid cautious sentiment as a plunge in financial markets last week and dollar strength early this week underscored concerns that growth may be slowing, especially in Asia’s emerging economies.
Front-month Brent crude oil futures LCOc1 were trading down 46 cents, or 0.6 percent, at $77.16 a barrel at 0745 GMT.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $67.19 a barrel, down 40 cents, or 0.6 percent.
Oil prices dipped on Monday amid cautious sentiment as a plunge in financial markets last week and dollar strength early this week underscored concerns that growth may be slowing, especially in Asia’s emerging economies.
Front-month Brent crude oil futures LCOc1 were trading down 46 cents, or 0.6 percent, at $77.16 a barrel at 0745 GMT.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $67.19 a barrel, down 40 cents, or 0.6 percent.
HSBC sees little impact on Saudi Arabia investment after Khashoggi murder: CEO | Reuters
HSBC sees little impact on Saudi Arabia investment after Khashoggi murder: CEO | Reuters:
Saudi Arabia is unlikely to see significant impact on its foreign trade and investment flows following the killing of journalist Jamal Khashoggi, the chief executive of Europe’s biggest bank HSBC said on Monday.
“It has been a difficult few weeks for the kingdom, this has not been good for Saudi Arabia,” HSBC CEO John Flint told Reuters in an interview.
“I understand the emotion around the story, but it is very difficult to think about disengaging from Saudi Arabia given its importance to global energy markets,” he said.
Saudi Arabia is unlikely to see significant impact on its foreign trade and investment flows following the killing of journalist Jamal Khashoggi, the chief executive of Europe’s biggest bank HSBC said on Monday.
“It has been a difficult few weeks for the kingdom, this has not been good for Saudi Arabia,” HSBC CEO John Flint told Reuters in an interview.
“I understand the emotion around the story, but it is very difficult to think about disengaging from Saudi Arabia given its importance to global energy markets,” he said.
MIDEAST STOCKS-Saudi edges up after earnings, Abu Dhabi at two-month low | Reuters
MIDEAST STOCKS-Saudi edges up after earnings, Abu Dhabi at two-month low | Reuters:
Saudi Arabia’s stock index gained on Monday, buoyed by strong earnings, while most major Gulf markets fell, with Abu Dhabi hitting its lowest in two months.
Stock exchange data on Sunday showed that foreigners sold a net 2.34 billion riyals ($624 million) in the Saudi stock market for the week ending Oct. 25, but the bourse was supported by local institutions, which bought 8.06 billion riyals worth of shares.
The data indicated that foreign selling had slowed from the previous week. It hit a record then investors were spooked by the killing of Saudi journalist Jamal Khashoggi.
Saudi Arabia’s stock index gained on Monday, buoyed by strong earnings, while most major Gulf markets fell, with Abu Dhabi hitting its lowest in two months.
Stock exchange data on Sunday showed that foreigners sold a net 2.34 billion riyals ($624 million) in the Saudi stock market for the week ending Oct. 25, but the bourse was supported by local institutions, which bought 8.06 billion riyals worth of shares.
The data indicated that foreign selling had slowed from the previous week. It hit a record then investors were spooked by the killing of Saudi journalist Jamal Khashoggi.
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