Middle East bourses fell sharply on Thursday as investors cashed out after Brent crude oil slipped below $30 a barrel and global markets resumed selling off.
The Saudi index tumbled 3.3 per cent to close at 5,8
Middle East bourses slumped on Tuesday in a broad sell-off as investors cashed out, with petrochemicals the main drag on Saudi Arabia's index and blue-chips weighing elsewhere.
Brent crude had slipped towards $30 a barrel to a
Saudi Arabia's stock market tumbled again early on Thursday, hit by the plunge of oil to new 11-year lows and investor worries about the health of the regional and global economies.
Brent crude futures sank more than 4 percent
An "uneasy calm" prevails in financial markets about the first increase in US interest rates in almost a decade, which is widely expected later this month, the Bank for International Settlements said in its latest report.
The world is awash with oil after having built record stockpiles in recent months and slowing demand growth combined with resilient non-Opec supply could worsen the glut well into next year, the International Energy Agency (IEA) said on Friday
Asian shares slipped on Friday as investors braced for US employment data that is expected to bolster the case for a Federal Reserve interest rate increase as early as next month.
MSCI's broadest index of A
Currencies, stocks and bonds appear to be at a turning point, according to the latest Reuters polls from around the world, with the size and nature of forecast changes suggesting worries are building about the health of the global economy.
Prism Group, a leading name in luxury brands, has strengthened its market position since the introduction of its Oud-inspired fragrances, Kindus perfumes, into the UAE and other GCC markets.
The Kindus line of products include fra
China has fended off the major risks to its financial system while its economic prospects remain positive, Premier Li Keqiang said on Wednesday, as he tried to reassure global markets that Beijing can keep its economy on track and stock markets
The sharp decline in oil prices over the past one year has started to impact the UAE real estate market in a big way, with property transaction levels falling across Abu Dhabi, Dubai and Sharjah, said a report.
A further reduction in oi