Oil rebounded from a seven-week low in New York before a government report forecast to show that payrolls rose for a fourth month in the U.S., the world’s biggest crude-consuming nation.
Futures advanced as much as 0.7 percent for the first gain in three days after a technical indicator signaled prices may have fallen too far. They dropped 2.4 percent yesterday, leaving West Texas Intermediate futures at the biggest discount to London-traded Brent crude in more than five months. Payrolls in the U.S. probably rose by 205,000 last month, according to Bloomberg survey before the Labor Department report tomorrow.
Mideast funds bullish on Kingdom, bearish on UAE
Middle East funds are heavily bullish toward Saudi Arabian stocks after news the market will open to direct foreign investment, while they are bearish on the United Arab Emirates because of concern
UAE and Egypt indices rise on earnings
Stock markets in the United Arab Emirates and Egypt rose on Thursday on the back of strong second-quarter earnings at banks and expectations for similar performances by real estate developers.
Bahrain remains investor-friendly
Bahrain's business environment continues to attract inward investment although there is increasing competition within the region, according to a new report.