Latest news with #QatarNationalBank
Zawya
4 days ago
- Business
- Zawya
Mideast Stocks: Major Gulf markets mixed on Trump's tariff uncertainty
Gulf stock markets were mixed on Tuesday, with Saudi Arabia's main Tadawul index retreating 0.78% as investor sentiment remained fragile on the unpredictability of U.S. President Donald Trump's trade policies. Trump announced a postponement of his threatened 50% duties on the European Union on Sunday, providing a boost to futures markets. A deadline for July 9 has been set to allow for talks between Washington and the 27-nation bloc to produce a deal. Nasdaq futures rose 1.67% and S&P 500 futures climbed 1.49%. Oil prices - a catalyst for the markets in the Gulf - were little changed, with Brent crude futures up 11 cents, or 0.2%, by 0640 GMT, as markets await clarity on the OPEC+ group's next move at a meeting later this week. In Saudi Arabia, Saudi Arabian Refineries Company lost 3.44%, while Saudi Industrial Investment Group was down 3.38%. But markets in the United Arab Emirates traded higher, with Abu Dhabi's benchmark index up 0.11% and Dubai's main share index gaining 0.23%, and hitting its highest level since July 2008. Amlak Finance was Dubai's biggest gainer, up 6.10%, after the company announced a board meeting later this week to discuss significant corporate actions, including asset sales and a potential exit from its real estate finance portfolio. Qatar's benchmark stock index fell 0.29%, logging losses for a second straight session. Qatar National Bank ,the largest bank in the region by assets, was down 0.64%, and Qatar Fuel Company retreated 0.67%.
Reuters
6 days ago
- Business
- Reuters
Gulf markets in red as new tariff war looms
May 25 (Reuters) - Saudi stocks performed the worst in a declining Gulf market on Sunday following the latest tariff threat by the U.S. President on European Union goods, while Israel's latest assault on Gaza kept the region on edge. Trump's statement on Truth Social on Friday that he is recommending a 50% tariff from June 1 on all EU goods sent global markets roiling. Saudi Arabia's benchmark index (.TASI), opens new tab dropped for a third straight session, falling 1.7%% to 10,999, its lowest level since November 2023 with all sectors in the red. Al Rajhi Bank( opens new tab, the world's largest Islamic lender, lost 2% and ACWA Power ( opens new tab declined 7.8%. Among other losers, Saudi National Bank( opens new tab, the kingdom's largest lender, dropped 2.8% and Saudi state oil company, Aramco ( opens new tab, shed 0.6%. Aramco is exploring potential asset sales to free up funds, two people with knowledge of the matter said on Saturday. The Qatari benchmark index (.QSI), opens new tab snapped its six-session winning streak and fell 0.4% with almost all of its constituents posting losses. Qatar National Bank( opens new tab, the largest bank in the region, slipped 0.9% and Qatar Gas Transport ( opens new tab declined 1.5%. However, Commercial Bank ( opens new tab advanced 3% after the lender on Thursday approved a buyback of up to 10% of bank's fully paid-up issued shares. Meanwhile, the region remained on edge as Israeli military strikes killed at least 23 Palestinians across the Gaza Strip on Sunday. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab was up for a fourth consecutive session, rising 0.2% with E-Finance for Digital( opens new tab gaining 3.2% and Palm Hills Development ( opens new tab advancing 3.4%. The developer, PHD, signed an agreement to develop 1.87 million SQM plot of land in Abu Dhabi.
Business Standard
23-05-2025
- Business
- Business Standard
Board of Morepen Laboratories approves availing of working capital loan of Rs 50 cr
At meeting held on 23 May 2025 The Board of Morepen Laboratories at its meeting held on 23 May 2025 has approved inter-alia, availing of working capital demand loan facility, packing credit facility and post shipment facility from Qatar National Bank, to the extent of, in aggregate, Rs. 50 crore and entered into various agreements with the Bank. Connect with us on WhatsApp
Qatar Tribune
22-05-2025
- Business
- Qatar Tribune
Gold price in Qatari market increases by 4.21%
DOHA: The price of gold in the Qatari market increased by 4.21 percent during the current week, reaching $3338.25000 per ounce on Thursday, according to data issued by Qatar National Bank (QNB). QNB data showed that the price of gold per ounce rose from $3203.26590, the level recorded last Sunday. The data also showed an increase in the prices of other precious metals on a weekly basis, with silver rising by 4.06 percent to $33.62000 per ounce, from $32.31000 at the beginning of the week. Platinum increased by 8.78 percent, reaching $1082.06000 per ounce, compared to $994.64580 on Sunday.
Euronews
21-05-2025
- Business
- Euronews
The shift towards digital-only banking and cloud operations for a tech-driven future
In this episode of The Exchange, Laila Humairah explores the banking revolution driven by digital wallets and fintech. Insights from Yousef Al Neama, Group Chief Business Officer of Qatar National Bank, and Juan Pablo Ortega, CEO of Yuno, a payment solutions company, highlight the need for technology. Cyril Fourneris reports from Switzerland on the rise of neobanks on the financial landscape, highlighting emerging trends and consumer behaviour. Prices in the UK were 3.5% higher in April 2025 compared to the same month a year earlier, according to the Office for National Statistics (ONS). This marks the highest inflation rate since January 2024 and exceeds economists' expectations of a more modest rise to 3.3%. By comparison, inflation stood at 2.6% in the twelve months to March 2025. On a monthly basis, consumer prices rose by 1.2% in April, up sharply from a 0.3% increase in March. Economists had anticipated a significant jump in April, driven by substantial annual increases in various household bills. The rise also reflects the impact of higher business taxes and a notable increase in the minimum wage. According to the ONS, the main contributors to the rise in inflation were higher costs in housing and household services, transport, and recreation and culture. These were partially offset by falling prices in clothing and footwear. Inflation is widely expected to remain above 3% for the rest of the year, which could temper expectations of further interest rate reductions from the Bank of England, whose inflation target is 2%. On Tuesday, the bank's chief economist, Huw Pill, said that borrowing rates have been cut too quickly — an indication that he is concerned about underlying inflationary pressures. Since the BoE began cutting borrowing costs last August from a 16-year high of 5.25%, the bank has proceeded on a gradual basis by lowering its main interest rate by a quarter of a percentage point every three months. Earlier this month, it reduced it to 4.25%. Following the latest inflation update, Rob Wood, chief UK economist at Pantheon Macroeconomics, said that cuts on a "precise quarterly schedule" are "far from certain." Although inflation is expected to remain above the bank's target this year, economists expect it to decline in 2026, partly due to a recent trade deal between the US and the UK, which rolled back some of the tariffs previously proposed by US President Donald Trump.
