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21 August 2017
Global markets and the U.S. dollar were hampered on Monday with investors wary of the political turmoil in the White House along with tensions between the United States and North Korea.
In the Gulf region, most stock markets rose modestly on Sunday supported by robust oil prices with both Riyadh and Dubai indices gaining 0.4 percent, Kuwait adding 0.2 percent, and Qatar rising 0.3 percent.
The Saudi market saw three insurers fall sharply after they were banned temporarily by the central bank because of “serious breaches” in their practices.
Goldman Sachs received an approval from Saudi regulator for an equities trading license that authorizes the bank for principal dealing, fund and portfolio management as well as advisory activities.
In Oman, lending growth by conventional bank accelerated in June, according to the central bank’s latest data.
In commodities, oil markets were steady on Monday after the sharp gains on Friday. Despite rising U.S. output, falling crude inventories signal tighter market conditions as American energy firm cut rigs drilling.
Gold prices were also stable on Monday holding near $1,283.3 after jumping to its highest level in more than nine months on Friday on geopolitical concerns.
In other news, Egypt is restructuring its state commodity buyer, Food Industries Holding Company (FIHC), and considering listing it on the Egyptian bourse.
The Dubai Gold and Commodities Exchange and a Saudi firm announced plans to develop the region’s first sharia-compliant gold contract to be traded on an international exchange.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here.
Global markets and the U.S. dollar were hampered on Monday with investors wary of the political turmoil in the White House along with tensions between the United States and North Korea.
In the Gulf region, most stock markets rose modestly on Sunday supported by robust oil prices with both Riyadh and Dubai indices gaining 0.4 percent, Kuwait adding 0.2 percent, and Qatar rising 0.3 percent.
The Saudi market saw three insurers fall sharply after they were banned temporarily by the central bank because of “serious breaches” in their practices.
Goldman Sachs received an approval from Saudi regulator for an equities trading license that authorizes the bank for principal dealing, fund and portfolio management as well as advisory activities.
In Oman, lending growth by conventional bank accelerated in June, according to the central bank’s latest data.
In commodities, oil markets were steady on Monday after the sharp gains on Friday. Despite rising U.S. output, falling crude inventories signal tighter market conditions as American energy firm cut rigs drilling.
Gold prices were also stable on Monday holding near $1,283.3 after jumping to its highest level in more than nine months on Friday on geopolitical concerns.
In other news, Egypt is restructuring its state commodity buyer, Food Industries Holding Company (FIHC), and considering listing it on the Egyptian bourse.
The Dubai Gold and Commodities Exchange and a Saudi firm announced plans to develop the region’s first sharia-compliant gold contract to be traded on an international exchange.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here.
