Latest news with #AlRajhiBank
Zawya
17 hours ago
- Business
- Zawya
Gulf stocks mixed as investors eye earnings, U.S. trade talks
Gulf stocks were mixed in choppy trading on Thursday as investors weighed a raft of corporate earnings while focusing on U.S. trade negotiations ahead of a looming tariff deadline. While recent developments, including Washington's deal with Tokyo to lower tariffs on Japanese imports and signs of potential agreement with the European Union, appeared constructive, market participants remained cautious, awaiting clarity on the direction of global trade policy. Saudi Arabia's benchmark index dropped 0.4%, marking its second consecutive weekly loss, pressured by persistently weaker oil prices, despite a recent rebound, with index heavyweight Al Rajhi Bank losing 0.7%, and the oil behemoth Saudi Aramco falling 0.2%. The Saudi market may continue to face pressure due to relatively low oil prices, despite the rebound. However, though a broadly positive earnings season could help the market regain ground, said Samer Hasn, senior market analyst at Dubai's main share index rose 0.4% to a fresh 17-1/2-year high, as real estate gains offset early losses sparked by an over 2% drop in Emirates NBD following a 9% decline in first-half profit, dragging financial stocks lower and making the sector the worst performer on the day. The Abu Dhabi index held steady amid mixed trading in heavyweight stocks ahead of key upcoming earnings, consolidating gains following Wednesday's strong recovery. Samer added that both the UAE markets are poised for potential gains, supported by a largely positive earnings season so far. Qatar stock index advanced 0.3%, extended its winning streak to six sessions, rising 0.3% to a fresh two-and-a-half-year peak, driven by solid earnings reports mainly from the banking sector this week. Market participants are awaiting next week's earnings from other sectors, which could bolster the market's upward momentum, Samer noted. Egypt's stock market was closed on account of Republic Day. SAUDI ARABIA eased 0.4% to 10,946 ABU DHABI was flat at 10,301 DUBAI added 0.4% to 6,111 QATAR rose 0.3% to 11,221 BAHRAIN inched up 0.2% to 1,953 OMAN eased 0.1% 4,719 KUWAIT fell 0.35 to 9,272 (Reporting by Amna Mariyam and Ateeq Shariff in Bengaluru; Editing by Shailesh Kuber)
Zawya
a day ago
- Business
- Zawya
Mideast Stocks: Gulf markets dip as trade uncertainty, mixed earnings weigh on sentiment
Gulf stocks edged lower in choppy trading on Thursday as investors weighed a raft of corporate earnings and monitored U.S. trade negotiations ahead of a tariff deadline. While recent developments, including Washington's deal with Tokyo to lower tariffs on Japanese imports and signs of potential agreement with the European Union, appeared constructive, market participants remained cautious, awaiting clarity on the direction of global trade policy. Saudi Arabia's benchmark index eased 0.2%, with index heavyweight Al Rajhi Bank losing 0.5%, while Alinma Bank declined 1.6%, despite reporting a rise in second-quarter earnings. The Abu Dhabi index fell 0.1%, as a flurry of upcoming earnings kept the investors on the sidelines, with the country's biggest lender First Abu Dhabi Bank retreating 1.2%, a day after jumping 5% on upbeat earnings. Shares of Bank of Sharjah fell more than 2% as traders locked in profits following a two-digit percentage rally in the previous session on strong half-year results. Dubai's main share index was little changed in narrow trade, as a 2.3% drop in Emirates NBD weighed on sentiment. The top lender reported a 9% decline in first-half profit, hit by lower recoveries and a higher tax rate, making financials the worst-performing sector on the index. Qatar stock index was marginally down, but held near a two-and-a-half-year high. (Reporting by Amna Mariyam and Ateeq Shariff in Bengaluru; Editing by Mrigank Dhaniwala)
Business Recorder
2 days ago
- Business
- Business Recorder
Most Gulf stocks rebound on earnings, US-Japan trade deal
Most Gulf stocks rebounded on Wednesday, buoyed by corporate earnings announcements and optimism following U.S. President Donald Trump's trade deal with Japan, which raised hopes for additional agreements before an impending tariff deadline. Trump said on Tuesday that the U.S. and Japan had reached a trade deal that includes a 15% tariff on U.S. imports from Japan. It followed an agreement with the Philippines by which the U.S. will collect a 19% tariff rate on imports from there. While the increasing imposition of tariffs around the world poses risks to global economic growth and oil demand, the recent U.S.-Japan deal helped ease investor concerns and supported oil prices. Saudi Arabia's benchmark index advanced 1.3%, led by a 1.1% gain in Al Rajhi Bank and a 2.3% increase in Saudi National Bank, the country's largest lender by assets. Earlier this week, the duo reported a rise in quarterly earnings. The Saudi stock market may experience a solid rebound if earnings releases continue to be positive and external pressures diminish, said Milad Azar, market analyst at XTB MENA. 'A potential trade deal with the European Union, with the August 1 deadline approaching, could also provide a boost.' Most Gulf bourses fall on US tariff concerns, weaker oil The Abu Dhabi index jumped 1.2%, with First Abu Dhabi Bank (FAB), the United Arab Emirates' largest lender, surging 5% - its biggest intraday gain in a month - after beating second-quarter profit estimates on strong revenue growth. Elsewhere, Bank of Sharjah soared 10%, a day after posting a sharp rise in half-yearly profit. Among other gainers, Space42 advanced 1% after securing a $695.5 million facility to fund next-generation UAE satellites. Dubai's main share index finished 1% higher, snapping a three-day losing streak, led by a 2.9% jump in top lender Emirates NBD (ENBD), as the bank is slated to report its quarterly earnings on Thursday. Qatar stock index edged 0.4% higher, touching a fresh two-and-a-half-year high, with most sectors closing in the green. Outside the Gulf, Egypt's blue-chip index rose 1%, continuing its ascent to record highs, with Commercial International Bank rising 1.5% following an increase in quarterly profit. ------------------------------------------ SAUDI ARABIA jumped 1.3% to 10,984 ABU DHABI rose 1.2% to 10,296 DUBAI climbed 1% to 6,086 QATAR gained 0.4% to 11,186 EGYPT added 1% to 34,125 BAHRAIN increased 0.3% to 1,950 OMAN eased 0.3% to 4,765 KUWAIT inched up 0.2% to 9,296 ------------------------------------------
Mid East Info
3 days ago
- Business
- Mid East Info
Bitcoin Price Live 2025 in the Middle East: Safe and Easy Ways to Buy and Trade
The cryptocurrency market in the Middle East and North Africa (MENA) region is witnessing remarkable acceleration, with digital asset usage increasing by 48% in 2023, making the region one of the fastest-growing markets globally. This growth is driven by rising interest from investors in Saudi Arabia, the UAE, Egypt, Morocco, and other Arab countries in financial technology, with Bitcoin and USDT being among the most important digital assets used for hedging against inflation and enabling fast, secure money transfers. Why Monitoring Bitcoin's Live Price Matters Cryptocurrencies, particularly Bitcoin, are highly volatile. Therefore, tracking the live Bitcoin price is essential for investors and traders to make informed, timely decisions. Accurate, real-time updates improve opportunities to buy or sell at optimal prices and help minimize risks associated with sudden market changes. Easy and Secure Ways to Buy Bitcoin in the Region Trusted exchanges like MEXC provide multiple methods to purchase Bitcoin, including local bank transfers, debit/credit cards, and peer-to-peer (P2P) platforms . These methods support major banks in the region, such as Al Rajhi Bank and Riyad Bank in Saudi Arabia, Emirates NBD in the UAE, and the National Bank of Egypt , making transactions safe and fast . The Role of USDT in Local Markets USDT (Tether) , a stablecoin pegged to the US dollar, is the preferred option for maintaining value amid market fluctuations. In the Middle East, users rely on USDT for cross-border transfers and reducing bank transfer fees , especially in countries facing economic volatility or high inflation, such as Egypt and Lebanon . Bitcoin Trading and Futures with Leverage After buying Bitcoin, investors can trade in spot markets or futures with leverage up to 500x , offering significant profit opportunities. Trading platforms provide advanced tools like stop-loss and take-profit orders , enabling traders to manage risks efficiently and capitalize on price fluctuations. Using Mobile Trading Apps for Portfolio Management Mobile trading apps have become essential for Middle Eastern traders, allowing them to track Bitcoin's live price and execute trades anytime, anywhere . Apps like MEXC offer user-friendly interfaces, instant alerts, and market analysis to support quick, effective decision-making. Security and Trust in Trading Platforms Trust in exchanges comes from security, transparency, and consistent user support . Platforms like MEXC offer multi-layered protection for client funds , Arabic language support, high liquidity, and competitive trading fees suitable for all types of traders. Discover More on the Official Crypto Blog If you want to deepen your knowledge of cryptocurrencies and stay updated with the latest market news, visit specialized crypto blogs that provide educational articles, market analyses, and detailed guides to help you understand trading, track Bitcoin's live price, and make the most of available tools. Stay informed with expert tips and trends to succeed in the dynamic crypto world. Tips for Safe Bitcoin Investment Choose licensed and trusted trading platforms . Track Bitcoin's live price from multiple sources for accuracy . Use technical analysis tools to understand market trends before making decisions. Never invest money you cannot afford to lose , and diversify your portfolio to reduce risk. Conclusion With Bitcoin adoption growing across the Middle East and North Africa, it has become essential to monitor Bitcoin's live price and use secure, efficient buying and trading methods . Selecting reliable platforms , understanding the market, and applying well-planned trading strategies put investors in a strong position to achieve sustainable profits in the volatile cryptocurrency market.
Zawya
4 days ago
- Business
- Zawya
Mideast Stocks: Gulf markets mixed as strong earnings offset US tariff concerns
Stock markets in the Gulf ended mixed on Monday, as investors weighed positive corporate earnings against concerns over U.S. trade policy changes. The European Union is exploring broader counter-measures against the U.S. as prospects of an acceptable trade agreement with Washington fade, according to EU diplomats. Investors had been hoping for some progress in trade talks ahead of U.S. President Donald Trump's August 1 tariff deadline; Commerce Secretary Howard Lutnick is still confident a deal could be reached with the EU. Saudi Arabia's benchmark index gained 0.2%, ending a nine-day losing streak, led by a 1.6% gain in sharia-compliant lender Al Rajhi Bank and a 1.2% increase in Saudi National Bank, as the duo reported a rise in quarterly net profit. But International Petrochemical Company declined 5.7%, after the firm turned to losses in the second quarter. If upcoming earnings reports are broadly positive, the market may rebound, Osama Al Saifi, managing director for MENA at Traze, said. Dubai's main share index dropped 0.8%, easing from a multi-year high, hit by a 3.7% slide in top lender Emirates NBD. Profit-taking weighed on the market, with noticeable pressure on the financial sector, Saifi said. "Investors could secure their profits after a long period of strong momentum ahead of the Q2 earnings releases." Air Arabia leapt 4.8% to a fresh record high after securing a bid to operate a new Saudi low-cost national airline, set to launch by 2030. In Abu Dhabi, the index fell 0.2%. Oil prices dipped slightly, with the latest European sanctions on Russian oil expected to have minimal impact on supplies while U.S. tariffs ensure demand concerns remain. The Qatari index closed 0.7% higher, with the Gulf's biggest lender Qatar National Bank gaining 1.5%. Outside the Gulf, Egypt's blue-chip index edged 0.2% higher, hitting a new record high. SAUDI ARABIA rose 0.2% to 10,981 Abu Dhabi fell 0.2% to 10,262 Dubai dropped 0.8% to 6,045 QATAR gained 0.7% to 11,022 EGYPT added 0.2% to 34,130 BAHRAIN was down 0.3% to 1,938 OMAN rose 1.5% at 4,743 KUWAIT was up 0.1% to 9,302 (Reporting by Ateeq Shariff in Bengaluru; Editing by Sahal Muhammed)
