MIDEAST STOCKS Abu Dhabi leads most Gulf markets lower in line with Asian shares | Reuters
Most stock markets in the Gulf region fell in early trade on Monday, with Abu Dhabi leading declines, following losses in Asian shares ahead of major U.S. and Chinese economic data.
U.S. House Democrats are expected to propose raising the corporate tax rate to 26.5% from 21% as part of a sweeping plan that includes tax increases on the wealthy, corporations, and investors, according to two people familiar with the matter. read more
A Financial Times report about Beijing's plans to break up Alipay, the hugely popular payments app owned by Jack Ma's Ant Group also added to concerns. read more
In Abu Dhabi, the benchmark index (.ADI) fell 1.2%. First Abu Dhabi Bank (FAB.AD), the country's largest lender, dropped 1.1%, while Alpha Dhabi Holdings (ALPHADHABI.AD) slid 2.7%.
Private sector companies in the UAE will have to fill 10% of their positions with Emirati nationals within five years, the UAE said on Sunday, announcing its latest tranche of economic reforms. read more
The initiatives are part of 50 new economic projects the UAE is announcing this month to boost its competitiveness. read more
Dubai's main share index (.DFMGI) declined 0.6%, with its top lender Emirates NBD Bank (ENBD.DU) and blue-chip developer Emaar Properties (EMAR.DU) losing 0.7% each.
Emaar has picked Emirates NBD to advise it on the sale of fashion e-commerce business Namshi, Reuters reported on Sunday, citing sources. read more
Saudi Arabia's benchmark index (.TASI) eased 0.1%, hit by a 0.5% fall in Al Rajhi Bank (1120.SE).
Saudi Aramco (2222.SE) has notified at least seven buyers across Asia that it would supply full contractual volumes of crude oil in October, though none of them asked for additional supplies despite deep price cuts, sources with knowledge of the matter said. Shares of Aramco were up 0.1%. read more
Elsewhere, the Qatari benchmark (.QSI) was down 0.1%.
No comments:
Post a Comment