Most Gulf Arab bourses fell yesterday in subdued trading with markets in the United States and Britain closed for a holiday, while Saudi Arabia bucked the trend, buoyed by firmer oil prices. Oil rose above $74 in line with a timid recovery across
The Saudi Capital Authority's (CMA's) Appeals Committee for Disputes on Securities has ordered a former board member of state-controlled Saudi Telecom Company (STC) to pay over SR7 million in fines for insider trading in 2004. The CMA said in a
Egyptian heavyweight Orascom Telecom (OT) jumped 12 percent on Sunday after it said it expects to know soon the outcome of talks to sell some of its African units to South Africa's MTN. "I think you'll see OT continue to rise in the coming weeks, sai
The GCC stock markets are expected to recover this week amid a good uptrend in crude oil prices during the weekend while the severe impact of the European debt crisis is easing its pressures on global markets. All GCC indices suffered heavy losses la
Saudi Arabian shares climbed the most in 18 months, led by petrochemicals and helped by oil prices. The Saudi Tadawul All Share Index jumped 5.35 per cent, the biggest gain since November 2008, to 6175.96 points. Saudi Basic Industries Corpora
Saudi Arabian shares climbed the most in 18 months, led by petrochemicals and helped by oil prices. Saudi Basic Industries Corp., the world’s largest petrochemical maker, and Saudi International Petrochemical Co., or Sipchem, helped lift the Saudi
The Saudi stock index made its biggest one-day gain since November 2008 on Saturday led by the heavyweight Saudi Basic Industries Corp. (SABIC) after falling 8.4 percent last week on declining oil prices and concerns over the euro zone's debts. The
The recent sell-off in Gulf Arab markets offers attractive opportunities in the petrochemicals and consumer sectors in Saudi Arabia, according to a fund manager for Swiss-based asset manager GAM Holding. “Petrochemicals are a great story in Saudi. You
Saudi shares led regional decline last week prompting other Arab stock markets to plummet. The Tadawul All-Share Index (TASI) dived 8.4 percent last week to close at 5,862.31 points, spearheaded by the petrochemical sector, particularly the Saudi
The following companies may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close. Saudi Arabia’s Tadawul All Share Index tumbled 6.8 percent, the most since November 2008, to 5,760.33 and the Dubai