Iran prepares to impose new coronavirus lockdowns as cases rise    Ukraine plane crash death toll rises to 26, with 1 survivor    Al-Azhar urges Egyptians to confront destabilisation plots    Sudan rejects linking removal from US terrorism list with Israel ties    Ethiopian PM says Addis Ababa has 'no intention of harming' Egypt, Sudan with GERD    Russia given 5 more months to fix 'deficient' doping plan    Liverpool boss Klopp backs Premier League sides helping struggling EFL teams    Manchester City's injured Jesus ruled out of Brazil qualifiers    UK pledges over $400 million for WHO, calls for end to 'ugly rifts'    Egypt's Assiut, Sohag int'l airports receive first Saudi Airlines flights since resumption of air traffic    Southern French city of Marseille rebels against COVID-19 shutdown    Egypt's central banks cuts interest rates by 50 bps    'It's important to show our ingenuity': Nigerian collector promotes local artistic heritage amidst Black Lives Matter    EgyptAir receives 11th Airbus A220-300 from Canada    3 policemen, 4 prisoners killed in Cairo jailbreak attempt    Last-minute bids    Wust El Balad band gives a concert at the Fountain theatre    Khan Almaghraby gallery group exhibition is a must go    Egyptian insurance companies' premiums 9.6% up in five months    Egypt's President Sisi names new head of anti-corruption watchdog    Egypt's c.bank offers 18 bln pounds T-bills on Sunday    EgyptAir offering discounts for some international flights    Egypt records 212 new coronavirus cases, 14 deaths on Saturday    Egypt to require PCR coronavirus tests for airport travelers    Egypt sends 125 tonnes of glass by sea to Beirut    Legend Messi officially wants to leave Barcelona, hands transfer request    Global smartphone sales drop 20% in Q2, yet Apple's iPhone sales steady    Sisi: Egypt keen on establishing development projects with Iraq, Jordan    Egyptian megastar Amr Diab releases new hit music video    Making of Harry Potter will be available for fans at new park in Tokyo    Egypt's Senate elections official results to be announced Wednesday    Netflix Egypt is bringing megastar Amr Diab back with a new original    Egypt reopens Rafah border crossing for first time since April    Egypt's senate elections 2020 trending on social media in few days    African Champions League final will be played on Oct. 16-17, CAF says    No room to delay Egyptian Premier League games – EFA's board member    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    







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





Global economy fears of recession risks weigh on Gulf markets
Published in Amwal Al Ghad on 15 - 08 - 2019

Gulf markets in early trading on Thursday extended their losses amid falling oil prices and worries of global recession risks triggered by disappointing economic data out of China and Europe.
Brent crude LCOc1 was down 37 cents, or 0.6 percent, at $59.11 a barrel by 0300 GMT, after falling three percent in the last session.
Gross domestic product (GDP) growth in the 19-country euro zone was 0.2 percent in the second quarter compared with the previous quarter, a slowdown from 0.4 percent percent growth in the first three months of the year.
China's economy stumbled more than expected in July, with industrial output growth cooling to a more than 17-year low, as the intensifying U.S. trade war took a heavier toll on businesses and consumers.
In Dubai, the index dropped 1.5 percent as most of its real estate and banking shares traded lower. Dubai's largest listed developer Emaar Properties fell three percent while Emirates NBD shed 0.9 percent.
DAMAC Properties decreased 3.4 percent. The firm reported a nearly 87 percent drop in second-quarter net profit on Wednesday, hurt by the emirate's slumping property market.
Qatar's index was down 1.4 percent at 9,529 points, decreasing further from previous session's closing when it hit lowest loss in nearly a year. Most of the companies traded in red territory with Qatar National Bank dragging the index most as it plunged 2.3 percent and Qatar Insurance fell 4.3 percent.
In Abu Dhabi the index slipped 0.8 percent with First Abu Dhabi Bank sliding 0.8 percent, and Abu Dhabi Commercial Bank shedding 1.2 percent.
Saudi Arabia and Oman will resume trading on Sunday after the Eid break.
Source: Reuters


Clic here to read the story from its source.