Erdogan says Turkey to resume Syria offensive if truce deal falters    Spanish government dismisses call for Catalan talks; police brace for more unrest    Egypt's Cooperative Insurance Society to cover NGOs clients' loans    Angry over Brexit, thousands gather in London demanding new referendum    After a young pupil dies of meningitis in Egypt, tips to help prevention    Live score: Zamalek v Arab Contractors (Egyptian Premier League)    Irish clubs set to meet to discuss a new cross-border league    Bulgaria coach Balakov resigns following racism fallout    Wide protests in Lebanon against ruling elite over economic corruption    U.S.-China trade deal will be signed by middle of November: Trump    Egypt's PM urges US's ADTRAN Inc. to invest in communications equipment    French President Macron receives Egypt's Coptic Pope Tawadros II at Elysee    Dollar weak as Brexit deal boosts euro; sterling in check    Oil prices drop as China slowdown weighs    Egypt urges its citizens in Lebanon to exercise caution as protests continue    European markets fall ahead of crucial weekend Brexit showdown    Egypt says strategic wheat reserves enough to cover its needs until February    Egypt keen to support DR Congo: Ambassador    Cairo metro back to normal operations following hours-long power disruption    Egypt's Pope Tawadros opens Saint Mary, Mar Youhanna Church in Belgium    Egypt's Irrigation minister reviews latest developments of Ethiopia's Renaissance Dam in Budapest    'Passports should be valid for six months,' Egypt's foreign ministry advises citizens planning travel abroad    Unpaid work hits 35% of Egypt's GPD, but still not included in economic calculations: IMF    Grand Nile Tower Arts & Cultural Centre launches second round    Egypt's coach Hossam El-Badry satisfied with winning start despite technical problems    Hundreds released    Luxor's new discoveries    Moroccan film Nomades scoops awards in Alexandria Film Festival    Toshiba's JV with Egyptian Elaraby opens regional HQ in South Africa    Six authors vie for Booker prize 2019, Atwood in the lead    In Photos: A sneak peek into rehearsals for the Cleopatra ballet world premiere    Sisi, Ethiopia's PM to meet in Moscow to discuss GERD issue    Sisi: army engaged in attrition phase against terrorism in Sinai since 2013    10K fans to attend Egypt's friendly against Botswana in Alexandria: EFA    Sisi, Ethiopia's PM agree to overcome obstacles in Nile dam talks    Farwell to Egyptian comic actor Talaat Zakaria    Court sentences six to death, 41 to lifetime imprisonment violence related case    Trump says he would release Mideast peace plan after Israeli elections    ACWA Power compares 3 bids to supply production units for Luxor power station    What do you know about gold alloying?    NBE announces EGP 2.5m prizes for handball youth teams for their world achievements    Jennifer Lopez evokes Egyptian outrage post her North Coast performance    Al-Sisi honours Egypt's scholars on Science Day    IS claims responsibility for suicide bombing killing 63 in Afghan wedding    Political parties gear up for parliamentary, senate, local elections    Unprecedented Glory: Egypt win Men's U-19 World Handball Championship    12th National Egyptian Theatre Festival fuel up public theatre art scene    Ministry of Environment has a plan for "black clouds season"    

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

Saudi stock market rises on oil supply pledge, interest rate cut
Published in Amwal Al Ghad on 19 - 09 - 2019

Saudi Arabia's stock market rose in early trading on Thursday after Riyadh said oil output lost in weekend attacks on two Aramco plants would be restored by the end of September.
Saudi Arabia said it continues to supply oil to its customers from its stockpiles and the attacks would have no impact on government revenues.
The Saudi index was up 0.2 percent. National Commercial Bank and Saudi Telecom both rose 1 percent.
The central banks of Saudi Arabia and the United Arab Emirates, which peg their currencies to the U.S. dollar, cut interest rates on Wednesday after the Federal Reserve lowered U.S. rates, which Saudi officials said should help the country's banks by boost lending.
But the tensions in Middle East held back Saudi stocks and weighed on other regional markets after Saudi Arabia presented what it called undeniable evidence of Iranian links to the Aramco attacks.
In Abu Dhabi, stocks fell 0.9 percent. First Abu Dhabi Bank dropped 1.2 percent and Abu Dhabi Commercial Bank 2.8 percent.
Banks also drove Dubai's index down 0.3 percent, its third day of losses. Dubai Islamic Bank fell 0.9 percent and the emirate's biggest bank, Emirates NBD, lost 0.4 percent.
Qatar's index was up 0.1 percent, led by a 2.9 percent rise in Qatar Insurance . Mesaieed Petrochemical rose 2 percent.
Source: Reuters Africa

Clic here to read the story from its source.