Gulf stock markets plunged in early trade on Tuesday after oil resumed its slide on bearish comments about Opec and weak Chinese manufacturing data.
Brent crude prices fell below $60 a barrel for the first time since July 2009 as
Gulf stock markets extended their plunge on Sunday as oil's drop to a new five-year low sparked a fresh wave of panic selling. The bourses' losses left Qatar and Bahrain as the only Gulf markets with year-to-date gains.
The Abu Dhabi Securities Exchange (ADX) will temporarily suspend stocks that fall by five per cent under new rules effective from Sunday as slumping oil prices continue to hit markets across the Gulf.
Investors have been dumping G
Plunging stock markets in the Gulf show investors are panicking about the prospect of $70 oil next year. But heavy state spending means most firms in the region, with the big exception of petrochemical producers,
Mezzan Holding has filed an application with Kuwait’s Capital Markets Authority to list on the Kuwait Stock Exchange (KSE).
The company plans to list on the official bourse following a secondary offering of 88.95 million sha
Foreign investors purchased shares worth Dh1.14 billion ($309.5 million) on the Dubai Financial Market (DFM) from August 17 to 21, while the value of stocks they sold was Dh1.08 billion, said a report.
The net foreign investment d
United Arab Emirates telecommunications operator Etisalat said on Wednesday that its Egyptian business was considering a listing on the Egyptian stock exchange, but no decision had been taken yet.
Local media reports had said earl
The US economy rebounded sharply in the second quarter as consumers stepped up spending and businesses restocked, putting it on course to close out the year on solid footing.
Gross domestic product expanded at a 4.0 per cent annua
A new crackdown on fish smuggling has been launched amid growing fears of depleting stocks in Bahrain.
The Municipalities and Urban Planning Affairs Ministry wants to introduce tougher penalties, saying the exi
China is helping Bahrain set up a new laboratory that will support efforts to replenish the nation's depleted fish stocks.
It will analyse fish diseases and water samples once it is fully operational at its