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Saudi Arabia’s benchmark index fell 1.2%, after the government said COVID-19 vaccines were being delayed.
Vast wealth and the promise of dramatic change make for cautious optimism concerning Saudi Arabia, the chief executive…
32 Views | the publication reaches you by | Saudi Arabia TodayShares in Al Rajhi Bank dropped 1%, while National Commercial Bank slipped 2.4% lower.
Saudi Basic Industries Corp (SABIC), the Gulf’s largest petrochemical maker, slid 1.8% despite posting a net profit of 2.22 billion riyals ($592 million) in the fourth quarter of 2020 compared with a net loss a year earlier.
Dubai’s main share index retreated 1.6%, extending the previous session’s losses, as Dubai Islamic Bank fell 1.8% and Emirates NBD Bank dropped 1.7%.
Dubai suspended non-essential surgeries in hospitals for a month and halted live music at restaurants indefinitely after daily coronavirus infections surged in the United Arab Emirates.
In Abu Dhabi, the index slipped 0.9%, hit by a 1.6% fall in the country’s largest lender First Abu Dhabi Bank and a 0.6% decrease in telecoms giant Etisalat.
The Qatari index lost 0.7%, with Qatar Fuel shedding 2.2% to be the worst performer on the benchmark.
Outside the Gulf, Egypt’s index eased 0.3%, with tobacco monopoly Eastern Company dropping 2%.
The project for the design, engineering and procurement of the new 400,000m3/day Jubail II seawater reverse osmosis (SWRO)…
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).
