Latest news with #AlRajhiBank
Reuters
3 days ago
- Business
- Reuters
Most Gulf bourses fall on US tariff concerns, weaker oil
July 22 (Reuters) - Most Gulf stock indexes dipped on Tuesday, as investors worried about fading prospects of the European Union's trade deal with the United States ahead of a looming tariff deadline, with weak oil prices offsetting strong corporate earnings. The EU is exploring broader counter-measures against the U.S. as prospects of an acceptable trade agreement with Washington wane, according to EU diplomats. U.S. President Donald Trump's imposition of tariffs around the world risks hurting global economic growth, and with it oil consumption. Saudi Arabia's benchmark index (.TASI), opens new tab retreated 1.3%, after snapping its longest downturn in nearly two years in the previous session as broad sector declines and weaker oil prices outweighed upbeat corporate earnings. Al Rajhi Bank ( opens new tab dropped 1% and oil giant Saudi Aramco ( opens new tab decreased 0.5%. Oil prices declined for a third consecutive session on concerns that a brewing trade war between major crude consumers, the U.S. and the EU, will curb fuel demand growth by reducing economic activity. But Etihad Etisalat ( opens new tab rose 1.9% after posting a 25% rise in second-quarter profit, while Saudi Automotive Services ( opens new tab gained 1.5% following a more-than-twofold-jump in quarterly earnings. Elsewhere, shares of Sport Clubs ( opens new tab surged 24% on their market debut. Saudi Exchange allows 30% fluctuation limit for newly-listed stocks during their first three days of trading. Dubai's main share index (.DFMGI), opens new tab eased 0.3%, marking the third straight session of losses as investors remained cautious ahead of key earnings and locked in profits following a multi-year rally. Index heavyweight Dubai Islamic Bank ( opens new tab dropped 1.2% while budget carrier Air Arabia ( opens new tab fell over 3%, ending a five-session winning streak. In Abu Dhabi, the index (.FTFADGI), opens new tab was under pressure as a wave of earnings releases this week kept many investors on the sidelines. Qatar's stock index (.QSI), opens new tab reversed early losses to finish 1.1% higher, reaching its highest level in more than two and a half years, as nearly all sectors advanced. Banking stocks led the advance, supported by strong earnings. Qatar Islamic Bank ( opens new tab soared 6%, rising for a fourth straight session after reporting upbeat results. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab declined 1%, pulling back from a record high.
Zawya
6 days 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
6 days 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
7 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
21-07-2025
- 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.
