MIDEAST STOCKS-Uber-Careem deal boosts Saudi, real estate hurts Dubai | Reuters:
Saudi shares rose on Tuesday boosted by a 10 percent surge in travel operator Al Tayyar Group, a shareholder in ride hailing app Careem which Uber has agreed to buy.
Tayyar said it was expecting to make a gross profit of 1.78 billion riyals ($474.64 million) from the transaction, supporting a 0.1 percent gain in the Saudi index.
Dubai's index fell 0.7 percent, weighed down by declines across its real estate stocks. Dubai's largest listed-developer Emaar Properties lost 2.1 percent and its unit Emaar Malls dropped 1.7 percent.
No comments:
Post a Comment