Middle East funds are turning positive on Saudi Arabia's stock market because of signs that oil prices are starting to stabilise, the latest Reuters survey of asset managers shows.
Many fund managers became bearish on Saudi Ar
Gold added to overnight losses on Thursday as strength in the dollar and equities plus robust US economic data reduced the metal's appeal as a hedge, triggering further outflows from the top bullion-backed fund.
Spot gold ease
Gold hit a three-week high on Tuesday as sliding oil prices knocked stock markets and concerns simmered over Greece's future in the euro zone, prompting investors to seek out bullion as a safe store of value.
European shares r
The United Arab Emirates central bank discussed margin lending at a board meeting this week and ordered that all aspects of the issue be studied, the central bank said on Wednesday.
In a brief statement describing discussions at t
Saudi Arabia's market regulator has suspended the local unit of accountancy firm Deloitte & Touche from doing auditing work for listed firms in the kingdom from June 1, 2015, according to a circular seen by Reuters.
Foreign institutional investors are expected to begin direct trading of Saudi Arabian stocks before April next year, the Asharq al-Awsat newspaper reported on Monday, quoting unnamed sources.
In August, the Capital Market
Saudi Arabia's stock market regulator proposed rules on Thursday for opening the $580 billion market to direct investment by foreign institutions, including a 10 per cent cap on foreign ownership of the market's value.
The value of shares bought by foreign investors through swap arrangements on the Saudi stock exchange jumped in July, official statistics showed on Sunday.
Authorities in the kingdom granted long-awaited approval on July 21 to ope
Bahrain Bourse (BHB) was the best performing market in the second quarter, gaining 5.2 per cent, followed by Oman's stock market with a 2.2 per cent gain, according to National Bank of Kuwait (NBK) research.
The Saudi market w
Saudi Arabia’s decision to open up its stock market to foreign financial institutions (FIIs) in the first half of next year is a long-awaited step towards its inclusion in the MSCI emerging markets (EM) index, which could mean active net i