Edition:
India

Tuqa Khalid

Iran makes new nuclear threats that would reverse steps in pact

09 Jul 2019

GENEVA/DUBAI Iran threatened on Monday to restart deactivated centrifuges and ramp up enrichment of uranium to 20% purity in a move away from the 2015 nuclear deal, but the head of Iran's Revolutionary Guards insisted the world knows Tehran is not pursuing nuclear arms. | Video

WRAPUP 3-Iran makes new nuclear threats that would reverse steps in pact

08 Jul 2019

* IAEA still studying whether Iran has breached uranium limit (Adds Zarif tweet)

RPT-WRAPUP 2-Iran makes new nuclear threats that would reverse steps in pact

08 Jul 2019

* IAEA still studying whether Iran has breached uranium limit

Iran ratchets up tensions with higher enrichment, draws warnings

08 Jul 2019

DUBAI Iran said on Sunday it will shortly boost its uranium enrichment above a cap set by a landmark 2015 nuclear deal, prompting a warning 'to be careful' from U.S. President Donald Trump, who has pressured Tehran to renegotiate the pact.

MIDEAST STOCKS-Trade war truce lifts Gulf markets, Dubai leads gains

30 Jun 2019

* U.S.-China trade talks lifts market sentiment * ENBD soars 4.1% after acquisition approval * Telecom companies boost Saudi market * Abu Dhabi slightly down, exchange cuts commission fees By Tuqa Khalid DUBAI, June 30 Most major Gulf markets gained on Sunday, reacting to positive global market sentiment after the United States and China agreed to a trade war truce at the G20 meeting. The two powers agreed on Saturday to restart trade talks after U.S. President Donald Trump offered concessions including no new tariffs and an easing of restrictions on the Chinese tech company Huawei. Dubai's index rose 1.2%, lifted by the largest lender in the emirate, Emirates NBD, rising 4.1% after getting banking regulatory approval to acquire shares in Turkey's Denizbank from Russia's Sberbank. The real estate and construction sector was also up, with market heavyweight Emaar Properties gaining 1.1%, construction firm Arabtec up 1.3%, Emaar Development 0.8%, and Damac Properties 0.7%. Saudi Arabia's index inched up 0.3%, lifted by communication services stocks such as telecoms operator Zain Saudi Arabia, which rose 4.2%, and Etihad Etisalat Company, which rose 1.9%. The Abu Dhabi index shed 0.2%, dragged down by financials. The exchange announced on Sunday it was reducing its trading commission fees by between 50% and 90% as it seeks to reduce investor costs, increase liquidity and build confidence. Abu Dhabi Islamic Bank was down 0.9% and First Abu Dhabi Bank, the largest bank in the United Arab Emirates, slipped 0.7%. Qatar's index rose 0.1%, with Commercial Bank up 1.7% and Qatar National Bank up 1.0%. Kuwait's index was up 0.3%, continuing its gains days after MSCI said it would upgrade Kuwaiti equities to its main emerging markets index in 2020. The Egyptian stock exchange was closed for a holiday. SAUDI The index rose 0.3% to 8,822 points ARABIA ABU DHABI The index inched down 0.2% to 4,980 points DUBAI The index rose 1.2% to 2,659 points QATAR The index was up 0.1% at 10,456 points EGYPT The market was closed BAHRAIN The index was up 0.2% at 1,471 points OMAN The index fell 0.2% to 3,885 points KUWAIT The index rose 0.3% to 6,377 points (Reporting by Tuqa Khalid)

Expo 2020 Dubai to attract 11 million foreign visitors: officials

27 May 2019

DUBAI Dubai could attract 11 million foreign visitors to the Expo 2020 world fair, organizers said in an interview, giving a significant boost to the emirate's tourism sector.

MIDEAST STOCKS-Abu Dhabi outperforms on financials and real estate, most Gulf markets rise

21 Apr 2019

By Tuqa Khalid DUBAI, April 21 Abu Dhabi stocks outperformed Gulf markets on Sunday on expectations that banks and real estate companies will benefit from new rules which would allow foreigners to own land and property in investment areas on a freehold basis. The Abu Dhabi index rose 1 percent, lifted by RAK Properties, up 2.7 percent, and Aldar Properties , up 2.1 percent. Abu Dhabi Commercial Bank rose 1.8 percent and Union National Bank rose 2.3 percent. The rise in investor interest came ahead of a company filing that said Al Hilal Bank's owner, the Abu Dhabi Investment Council, appointed Alaa Eraiqat as the lender's chairman. Eraiqat is currently group chief executive of Abu Dhabi Commercial Bank (ADCB), which is expected to merge with Al Hilal Bank and Union National Bank (UNB) in the first half of 2019. Eraiqat will serve as chairman at Al Hilal in addition to his current role at ADCB. First Abu Dhabi Bank continued a recent rally to add 1.4 percent. The top lender in Abu Dhabi rose nearly 9 percent last week after obtaining regulatory approval to increase its foreign ownership limit to 40 percent from 25 percent. Saudi Arabia's main index, the Tadawul All-Share benchmark , was up 0.5 percent, lifted by financials and telecommunications. Islamic lender Alinma and telecommunications firm Etihad Etisalat (Mobily) were up 5.3 percent and 4.8 percent, respectively, after reporting strong earnings for the first quarter. "Generally, the (Saudi) corporate results coming in today have been encouraging. Sentiment remains positive on foreign inflows as the next FTSE and MSCI inclusion nears," said Muhammad Faisal Potrik, head of research at Riyad Capital. Saudi shares joined the FTSE Emerging All Cap Index in March with a weighting of 2.9 percent. In May, Saudi shares will join the MSCI Emerging Markets Index. In Dubai, the index rose 0.2 percent on the back of a strong performance by real estate stocks such as Deyaar , Emaar Development and Emaar Malls which were up 3.7 percent, 2.1 percent and 1.2 percent, respectively. Qatar's stock market inched up 0.1 percent on financials, as Qatar First Bank rose 1.1 percent, Qatar Islamic Bank gained 0.3 percent and Qatar Insurance company added 1 percent. Egypt's blue-chip index was down 0.3 percent, with Alexandria Mineral Oils Co SAE shedding 3.6 percent and El Sewedy Electric slipping 2 percent. "Regional markets have been focusing on passive flows from MSCI and FTSE events in Saudi and Kuwait while ignoring other markets like Dubai, Oman and Bahrain due to lack of catalysts," said Sanat Sachar, equity research analyst at Dubai's Al Mal Capital. "We expect this theme to remain valid for the next couple of months and post that investors will start looking at other markets in search of better investment opportunities with cheaper valuations," Sachar added. SAUDI The index was up 0.5 pct at 9,240 points ARABIA ABU DHABI The index rose 1 pct to 5,346 points DUBAI The index was up 0.2 pct at 2,821 points QATAR The index was up 0.1 pct at 10,355 points EGYPT The index was down 0.3 pct at 14,839 points BAHRAIN The index was flat at 1,446 points OMAN The index was up 0.1 pct at 3,984 points KUWAIT The index was up 0.1 pct at 6,249 points (Reporting by Tuqa Khalid, editing by Hadeel Al Sayegh and Louise Heavens)

Qatar's real estate market faces reality check ahead of World Cup

17 Feb 2019

DOHA/DUBAI Qatar's Doha Tower, a spike-tipped cylinder that glows orange at night, won an award when finished in 2012 amid a Gulf-wide real estate boom, but today about half of its 46 floors are empty.

Qatar's real estate market faces reality check ahead of World Cup

15 Feb 2019

DOHA/DUBAI Qatar's Doha Tower, a spike-tipped cylinder that glows orange at night, won an award when finished in 2012 amid a Gulf-wide real estate boom, but today about half of its 46 floors are empty.

MIDEAST STOCKS-Real estate weighs on Dubai, major Gulf markets down

03 Feb 2019

* Developers' MSCI exclusion weighs on Dubai index * Abu Dhabi up on financials * But banks drag down Saudi index * EGX30 boosted by telecoms, industrials By Tuqa Khalid DUBAI, Feb 3 Dubai's stock market fell sharply on Sunday dragged down by property stocks, as other major Gulf bourses also saw losses. In Dubai, the index dropped 1.1 percent. The emirate’s largest listed developer, Emaar Properties, slid 3.3 percent, Emaar Malls dropped 4.5 percent, and DAMAC properties fell 2.3 percent. Dubai’s weak real estate market has been a big drag for property shares this year. Prices have been falling quarter-on-quarter almost continually since the start of 2017, with analysts blaming a glut of properties on the market. "DFM index continued its downward performance due to expected deletion of Emaar Development, Emaar Malls and DAMAC properties from MSCI Index which will result in $200 million of outflow from these names," said Sanat Sachar, equity research analyst at Al Mal Capital. The three firms' performance over the past year sets them up for exclusion from the MSCI Emerging Markets Index in May under the compiler’s criteria for membership. The Saudi stock index was down 0.4 percent, dragged down by financials. Saudi British Bank (SABB) fell 1.8 percent, Alawwal Bank fell 1.6 percent and Banque Saudi Fransi (BSF) fell 2.8 percent after reporting decreased net income which the company said was due to an increase in total operating expenses because of higher impairment charges. The EGX 30 Index gained 0.8 percent boosted by telecommunications and industrials, as Orascom Investment Holding surged 8.4 percent and Telecom Egypt Co was up 6.5 percent. Abu Dhabi's index rose 0.6 percent lifted by financials, such as heavyweight First Abu Dhabi Bank, which rose 1.8 percent. This comes a week after it said it had proposed increasing its foreign ownership limit to 40 percent from 25 percent. Abu Dhabi Islamic Bank also rose 1.7 percent. Qatar’s index dropped 0.3 percent with Qatar Gas Transport shedding 1.7 percent and Qatar Insurance Co down 1.2 percent. SAUDI The index fell 0.4 pct to 8,527 points ARABIA DUBAI The index fell 1.1 pct to 2,540 points QATAR The index was fell 0.3 pct to 10,689 points ABU DHABI The index rose 0.6 pct to 5,076 points EGYPT The index rose 0.8 pct to 14,244 points KUWAIT The index fell 0.5 pct to 5,406 points OMAN The index fell 0.5 pct to 4,147 points BAHRAIN The index was up 0.3 pct at 1,396 points (Reporting by Tuqa Khalid Editing by Andrew Heavens)

World News