- According to Almaal financial website, Saudi Arabia's government is in talks with local banks to sell them 20 BN SAR (5.3 BN USD) of local currency bonds next week.
- Even though Vodafone requested the National Telecommunications Regulatory Authority (NTRA) in May to block WhatsApp and Viber as it negatively affects its revenues, The NTRA turned down the request as the legislation does not allow it to block sites or programs.
- According to tender documents, Jordan Petroleum Refinery Company plans to deliver over 1.1 MM barrels of gasoil and aviation gasoline in November and December.
- In order to lift the foreign reserves and augment the economy, the World Bank and African Development Bank (AfDB) are expected to lend Egypt 1.5 BN USD.
- Due to the fall in oil prices, Kuwait's sovereign wealth fund, which is estimated to have more than 500 BN USD of assets, is considering selling assets to cover a state budget deficit.
- Standard & Poor's has revealed that Insurance regulators in the Gulf are introducing new regulations that are expected to improve the financial soundness of the industry in the long term.
- Salaries across Qatar have increased by an average of 4.2% in 2015. However, inflation rate has increased to 3.5% due to increases in rent which affect the overall cost of living; accordingly the real growth in employees' purchasing power is only 0.7%.
- Dubai private sector output has continued expanding during September supported by increase in business activity; however, the overall rates of business activity and new orders growth were less than those seen on average through the first half of 2015.
- An Israeli air strike, confronting the surge of stabbing attacks in Israel, killed a Palestinian mother and daughter in the Gaza Strip alleging that they were attempting to drive a car bomb into Jerusalem.
- As parliamentary elections approaches, Czech Ambassador to Cairo Veronika Smigolova revealed that three Czech diplomats will observe the Egyptian electoral process.
- Russian President Vladimir Putin has met the Saudi Arabia's Defense Minister to discuss the political solutions in Syria, after Moscow carrying out airstrikes last September. However, Saudi Arabia sees that the departure of Syrian President Bashar Al Assad is the best political solution.
- .TASI witnessed a significant increase in petrochemicals sector led by Petro Rabigh, followed by banking sector led by Alinma Bank and National Commercial Bank (NCB).
- .KWSE banking sector remained unchanged, while real estate sector increased slightly led by Al Dar National Real Estate and Al Massaleh Real Estate.
- .QSI witnessed a significant increase in real estate sector led by Mazaya Qatar Real Estate Development and Ezdan Holding Group, followed by telecommunication sector led by Vodafone Qatar, and finally banking sector increased led by Qatar National Bank.
- .ADI real estate sector increased led by Eshraq Properties followed by telecommunication sector led by Etisalat. On the other hand, banking sector declined led by First Gulf Bank and Abu Dhabi Commercial Bank.
- .DFMGI increased in most of the sectors such as real estate sector led by Arabtec Holding and Emaar Properties, followed by banking sector which is led by Ajman Bank and Dubai Islamic Bank (DIB)
Weekly % Change
Construction & Materials
Banks & Financial Services
Telecommunication & Information
Banking & Financial Services
UAE, Abu Dhabi
Real Estate & Construction
Investments & Financial Services
- n order to launch a new factory, the Arabian Food Industries Co. (Domty) plans to pump new investments worth 100 MM EGP (12.7 MM USD). The new factory will be established in 6th of October City on 27,000 Sq. m.
- According to Orascom statement to the bourse, Orascom Telecom and Act Financial intend to buy Beltone Financial for 650 MM EGP (83 MM USD). This piece of news has helped Orascom shares to surge by 4.3% and Beltone to jump by 9.9%.
- In the light of the National Bank of Greece sale of its stake in the Turkish unit "Finansbank"; Qatar National Bank, Turkey's Garanti Bank and Fibabanka have shown their interest in the anticipated sale.
- According to a recent study, Apple was selected to be the most intimate brand in the UAE followed by Lexus and Samsung placing second and third, respectively.
- Al Masah Capital Limited, the asset management firm, has announced the rebranding of its health care private equity initiative, Healthcare Mena Limited (HML), to AVIVO Group.
- Gunvor, the Swiss-based trading house, is negotiating to purchase a Dutch plant from Kuwait Petroleum International (KPI).However the value of the deal was not disclosed and the deal is still subject to regulatory approval and an employee consultation process.