Sunday 29 March 2020

MIDEAST STOCKS-Stocks in Middle East fall on coronavirus impact - Reuters

MIDEAST STOCKS-Stocks in Middle East fall on coronavirus impact - Reuters:

Middle Eastern stocks declined on Sunday in early trade, as the economies across the globe remained pressured from the coronavirus outbreak as the cases continued to surge.

More than 615,600 people have been infected by the coronavirus across the world and 28,316 have died, according to a Reuters tally.

In Qatar, which on Saturday recorded its first death from the coronavirus, the index lost 1.3%, dragged down by a 2.8% fall in Qatar National Bank and 2.1% fall in petrochemical maker Industries Qatar.

The Gulf state was latest to report its first virus-related death, a Bangladeshi resident. The majority of the 590 cases in Qatar are among migrant labourers, where foreigners make up most of the work force.

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