Asian stocks fell, with the regional benchmark index capping its biggest weekly loss this year, after the Federal Reserve damped expectations for more monetary easing and on renewed concern Europe’s debt crisis will weigh on economic growth, damping the outlook for Asian exporters.
Honda Motor Co. (7267), a carmaker that gets 83 percent of its revenue abroad, dropped 4.3 percent in Tokyo. Hutchison Whampoa Ltd. (13) and other companies that do business in Europe slid after demand fell at a Spanish government bond auction. Fast Retailing Co. (9983), Asia’s top clothier, plunged 6.8 percent in Tokyo after sales at its Uniqlo stores disappointed investors.
Saudi banks stay in the limelight
The benchmark Tadawul All-Share Index (TASI) marked another handsome gain of 1.1 percent, closing the Monday’s session at 9,882.36. Trading in a range of 129 points it added 107 points for the entire
Tadawul recovers on strong earnings
Most Gulf stock markets fell on Monday as a rebound by global equities turned out to be short-lived, but Saudi Arabia's bourse rose after a string of strong quarterly earnings.
Ma'aden key sponsor of conference
Alba, one of the world's leading aluminium producers, yesterday announced that Saudi Arabian Mining Company (Ma'aden) will be the gold sponsor for the 18th International Arab Aluminium (Arabal) Confe
BKIC website wins award
The new website of Bahrain Kuwait Insurance Company (BKIC) won the WebAward 2014 of the Web Marketing Association.
It was honoured in two categories - Insurance Standard of Excellence and
GCC investment on 'right track'
GCC economies are perusing investments in the right direction, addressing infrastructure needs and investing in sectors that will create more opportunities in the long run, says a report.