Sanders drops 2020 bid, leaving Biden as likely nominee    Egypt's parliament postpones plenary meetings until 29 April    UK PM Johnson is stable in hospital, responding to treatment: Spokesman    Economic reform programme allowed Egypt to bear repercussions of coronavirus: PM    Masked crowds fill streets, trains after Wuhan lockdown ends    Germany moves to make it easier to block foreign takeovers    Eastern Libya confirms first coronavirus case    PSG launch crowdfunding platform to fight coronavirus    Egypt approves first issuance of sukuk by Talaat Mostafa subsidiary    Tottenham tell players to follow social distancing rules    Brazilian star Ronaldinho to be freed from Paraguayan jail into house arrest    Euro zone fails to reach a deal on new coronavirus stimulus    Ethiopia declares state of emergency to curb spread of COVID-19    Egypt launches mobile application to track coronavirus cases    The veil begins to lift on COVID-19: What we know so far    Facebook launches new chat app for couples    Amazon to suspend delivery service to compete with UPS, FedEx in U.S.    Egypt's net foreign reserves fall to $40.1 bln in March –    EgyptAir to operate special flight to Canada Wednesday    Madbouly orders continued work of factories, firms to meet Egyptians' needs    Egypt quarantines Giza village for 2 weeks due to coronavirus    The Minister of Culture launches the electronic initiative "Stay at Home: Culture in Your Hands" on the Internet    Stay at home and TAM gallery will bring art to you    MPs' work continues    Egypt's Awqaf Ministry halts religious activities during Ramadan    The golden age of Egyptian cinema    EFA to raise funds for players in lower divisions amid coronavirus    Egyptian Fine Arts Syndicate organises exhibition to help artists amid coronavirus    Egypt's swimmer Osman quarantined in Red Sea resort after returning from US    Egypt's Zamalek to extend Carteron's contract after end of coronavirus    Comedy puppet Abla Fahita returns to screens during Egypt's curfew    Egypt's Supreme Council of Culture launches three new competitions    Prosecution warns of EGP 300k fine or 2-year jail for spreading fake coronavirus news    Egypt, MENA growth forecast at 2.7%, -0.3% respectively: IIF    Al-Sisi discusses joint coronavirus efforts with Abu Dhabi Crown Prince    Saudi Arabia intercepts missiles over Riyadh    CBE temporarily regulates cash deposits, withdrawals    Lagging COVID-19 response to shield frail economy: Rouhani    Farwell to Egyptian comedian George Sidhom    Weekend's virtual concerts, plays, and festivals people can stream at home    Brazilian football stadiums transformed into hospitals to treat coronavirus patients    Amid coronavirus outbreak, Egyptian Premier League cancellation seems inevitable    Stay At Home: Ministry of Culture to publish free books online for public browsing    Ethiopia has not sent Egypt latest designs for GERD: Minister of Irrigation    Nigerien President hails Egypt's diplomatic attempts to reach agreement over GERD    Al-Sisi appreciates Kenya's support to Egypt's stance on GERD    Cairo court acquits Mubarak's sons of stock market manipulation    Egypt's President Sisi pardons some prisoners on 25 Jan. Revolution anniversary    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Saudi markets drops on bank losses; other Gulf quiet
Published in Amwal Al Ghad on 05 - 12 - 2019

Saudi Arabia's markets opened lower on Thursday, extending previous losses, after declines by banking shares. Other major Gulf markets were little changed.
The Saudi index fell 0.3 percent in early trade as Al Rajhi Bank declined 0.5 percent and Samba Financial Group was down 1 percent.
Among other stocks, Saudi Basic Industries decreased 0.8 percent.
Saudi Aramco's bookrunners have recommended pricing its initial public offering at 32 riyals ($8.5) per share, the top of an indicated price range, Reuters reported, citing three sources familiar with the deal, potentially making it the world's biggest IPO.
Aramco is expected to announce on Thursday the results of the book-building for allocating shares to institutional buyers, typically asset managers, insurers or pension funds.
If the deal is priced at the top of the range, Aramco's IPO will exceed the $25 billion raised in the listing of China's Alibaba Group Holding Ltd in 2014, the biggest flotation to date.
The Dubai index traded flat. Emirates NBD Bank dropped 0.8 percent. Developer Emaar Properties added 0.7 percent.
In Abu Dhabi, the index was down 0.1 percent. International Holding fell 5.2 percent and Emirates Telecommunications was down 0.2 percent.
The United Arab Emirates economy is projected to grow by 2.3 percent in 2019. The central bank had forecast growth of 2.4 percent.
Growth in United Arab Emirates' non-oil private sector slowed to a 10-year low in November and companies saw the first monthly decline in new orders on record, a survey showed on Thursday.
The Qatari index edged up 0.1 percent, driven by a 0.7 percent gain in Qatar Islamic Bank and a 1.6 percent rise in Mesaieed Petrochemical.
On Thursday, Mesaieed said it received an income tax exemption from government effective January 01, 2019. It will also be entitled to a tax refund of 170 million Qatari riyals.
Source: Reuters

Clic here to read the story from its source.