Saudi bourse extends gains after S&P ratings upgrade
March 16 (Reuters) - Saudi Arabia's stock market ended higher on Sunday, extending gains from the previous session, after S&P upgraded its ratings, although other Gulf peers were subdued amid economic uncertainty sparked by U.S. President Donald Trump's trade tariffs.
Global ratings agency S&P raised Saudi Arabia's rating to 'A+' from 'A' with a stable outlook on Friday, underpinned by ongoing social and economic transformation in the country.
Saudi Arabia's benchmark index (.TASI), opens new tab finished 1.1% higher, helped by a 4.4% rise in Saudi Arabian Mining Company (1211.SE), opens new tab and 0.6% increase in Al Rajhi Bank (1120.SE), opens new tab.
In Qatar, the index (.QSI), opens new tab closed flat.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab rose 0.2%, helped by a 2.7% gain in Fawry for Banking Technology and Electronic Payment (FWRY.CA), opens new tab.
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Reuters
34 minutes ago
- Reuters
US, China set for trade talks in London on Monday
Three of U.S. President Donald Trump's top aides will meet with their Chinese counterparts in London on Monday for talks aimed at resolving a trade dispute between the world's two largest economies that has kept global markets on edge. Julian Satterthwaite reports.
Wales Online
2 hours ago
- Wales Online
The Welsh pub named among the best-looking boozers in the UK
The Welsh pub named among the best-looking boozers in the UK The pub has won the 'Refurbishment' category of CAMRA's Pub Design Awards 2025 The Druid Inn in Gorsedd has been crowned as one of the best pubs in the UK after it won the 'Refurbishment' category of CAMRA'S Pub Design Awards 2025 (Image: Druid Inn ) A pub in Wales has been officially crowned one of the most beautiful in the UK. The Druid Inn in Gorsedd near Holywell has won the 'Refurbishment' category of CAMRA's Pub Design Awards 2025. The competition celebrates some of the most visually stunning, historically significant and "lovingly" restored pubs across the UK. In its category, Druid Inn was praised for its "extensive yet thoughtful renovation", with the judges praising the pub for its "cosy nook and crannies, a welcoming central bar, comfortable seating, quirky artwork, soft lighting, roaring fireplaces and a private dining room". In June 2023, the pub was closed by Thwaites Brewery but it later emerged it had been snapped up by Pub Limited - a group run by Jerry Brunning, who started Brunning and Price (B&P) with Graham Price in the late 1980s. B&P became a roaring success with pubs in the north Wales and Cheshire area, and the pair later sold their shares to the Restaurant Group. The Druid reopened in March 2024 following a major renovation. From superstar gigs to cosy pubs, find out What's On in Wales by signing up to our newsletter here . The Druid Inn in Gorsedd near Holywell has won the 'Refurbishment' category of CAMRA's Pub Design Awards 2025 (Image: Druid Inn ) Article continues below Now, the pub is a popular venue in the Flintshire area, open seven days a week and serving food from 12pm daily. Its menu serves pub classics such as steak and ale pie, fish and chips and burgers, alongside international dishes such as shakshuka, wild garlic gnocchi and crispy hoisin duck pancakes. The inn is opened seven days a week (Image: Druid Inn ) The Welsh pub joins other worthy winners for the CAMRA awards this year, including pubs in Staffordshire, London, Surry and Herefordshire. The Peasant's Tavern in North Walsham, Norfolk narrowly missed the top spot to The Druid Inn but was highly commended in the 'Refurbishment' category. In its category, Druid Inn was praised for its "extensive yet thoughtful renovation", with the judges praising the pub for its "cosy nook and crannies" (Image: Druid Inn ) Andrew Davison, Chair of the Pub Design Awards judging panel, said: "The Pub Design Awards recognise the highest standards of pub architecture, rewarding artistic flair and painstaking historical conservation. "From inviting streetcorner locals to striking medieval coaching inns, there are some stunning pubs in the UK, and the craftmanship involved in making these venues a gorgeous place to enjoy cask beer and real cider or perry should rightfully be applauded. "I encourage heritage enthusiasts and pub lovers alike to visit these inspirational buildings." The Welsh pub joins other worthy winners for the CAMRA awards this year, including pubs in Staffordshire, London, Surry and Herefordshire (Image: Druid Inn ) Gary Timmins Chair of CAMRA's Awards Committee added: "This year's awards are tinged with sadness, as one of our winners, the Python's Arms, has had to make the heart-breaking decision to close its doors for good. "Due to the financial pressures facing all pubs across the UK, the local community has lost what should have been a valuable new social hub for generations to come. The competition celebrates some of the most visually stunning, historically significant and "lovingly" restored pubs across the UK (Image: Druid Inn ) "Within just a year from being converted into a beautiful pub, this rapid closure should be ringing alarm bells. "Real action is needed to support the pub industry, otherwise we will lose many more locals in the near future." Article continues below
The Independent
4 hours ago
- The Independent
Trump wants to shrink the cap on Pell Grants. It could have a major impact on paying for college
Donald Trump is asking Congress to slash federal financial aid for low-income students as he works to offset the expected multi-trillion-dollar cost of his flagship tax cuts. In its annual budget request for 2026, the Department of Education proposed reducing the maximum payout of Pell Grants by 22 percent, from $7,395 to $5,710. Meanwhile, more stringent college credit requirements proposed in Trump's 'One Big Beautiful Bill' would reportedly affect more than half of all Pell Grant recipients and deny access completely for around 10 percent. The non-partisan Congressional Budget Office estimates that the Bill in its current form would add roughly $2.4tn to the U.S. government deficit between now and 2036 — largely due to extending Trump's 2017 tax cuts, which were skewed towards the richest Americans. The White House has pushed back on that figure, claiming that merely renewing previous tax cuts should not be counted as an extra hit to the deficit. Who receives Pell Grants? A Pell Grant is a permanent financial award for first-time undergraduate students with few monetary resources, established in 1965 by the Higher Education Act. Unlike student loans, they never need to be repaid. While Pell Grants by themselves rarely pay for a full undergraduate degree, they can be supplemented by other programs and form a key part of low-income students' overall aid package. Nearly 40 percent of undergraduate students received Pell Grants in the 2019-20 academic year, according to the Department of Education. Of those recipients, at least 20 percent are estimated to attend community college. Who would Trump's cuts affect? Technically, the DoE's new budget request merely keeps Pell Grant funding at the same level as it was in 2024 and 2025. But because the number of people seeking grants has risen since then, that would mean cutting the maximum award to $5,710. Mark Kantrowitz, an independent higher education expert, told CNBC the change would add about $6,500 on average to the debt burden of Pell Grant recipients who earn bachelor's degrees. The DoE is also proposing to cut its federal work-study program, which helps eligible low-income students keep and maintain part-time jobs by subsidizing their wages. Instead of covering up to 75 percent, the government would now pay only 25 percent. Separate provisions in the so-called 'Big Beautiful Bill' would reportedly increase the number of course credits required to get the maximum Pell Grant from 12 per semester to 15 for part time students and from 24 to 30 for full time students, as well as cutting off less than half-time students completely. According to the Budget Office, that would reduce grants for more than half of Pell recipients and render about 10 percent of current recipients entirely ineligible. Unlike Trump's budget request, the Bill also proposes additional funding for Pell Grants overall, so it's not clear how these two sets of provisions would combine.
