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05 June 11:54 AM

Saudi Arabia, Russia near agreement to extend oil output cut

Saudi Arabia and Russia have reportedly agreed on a preliminary deal to extend the current crude oil output curbs for another month.
KPMG - Saudi Arabia
M&A deals in GCC expected to grow amidst COVID-19 – Report
Women currently outnumber men at universities in 15 Arab countries
Women's wealth in Middle East at $786bn with further growth expected
Emirates airline resumed flights to nine cities
Emirates resumes flights to 8 countries
The GCC is forecast to witness an economic recovery
Gulf states GDP expected to contract by 5.9% in 2020
Emirates Airline is set to lay off some employees amid the COVID-19 crisis
Emirates foresees recovery of airline industry by June 2021
Jordan Arab Global Commodities
GENERAL
1,654.03 0.78% 12.80
Volume 7,246,191 Turnover 4,427,996 No. of Trades: 1,764
30 Down 23 Flat 38 Up
No. of Traded Stocks : 91
Last Update: 4 June 11:30 AM
Latest News
The oil exports represented 93.28% of Kuwait's total exports
Kuwait's oil exports slump to KWD 3.61bn in Q1-20 Macroeconomics
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Saudi Arabia, Russia near agreement to extend oil output cut Global Reports
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Borg El-Arab Petroleum and Mineral Company drilled El Salmiya-5 well
Egypt makes new oil discovery in Western Desert Macroeconomics
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Brent futures were up by $1.25 on Tuesday
Kuwait’s crude oil nears $34 pb on Tuesday - KPC Macroeconomics
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Egypt aims to purchase 3.6 million of wheat from local farmers
Egypt buys 120K tonnes of Ukrainian wheat Commodities
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KPMG - Saudi Arabia
M&A deals in GCC expected to grow amidst COVID-19 – Report Mergers and Acquisitions
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Women currently outnumber men at universities in 15 Arab countries
Women's wealth in Middle East at $786bn with further growth expected Global Economy
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Emirates airline resumed flights to nine cities
Emirates resumes flights to 8 countries Global Economy
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Brent futures closed Monday up by 48 cents
Kuwait’s crude oil jumps $5.63 on Monday - KPC Macroeconomics
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The GCC is forecast to witness an economic recovery
Gulf states GDP expected to contract by 5.9% in 2020 Global Economy
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Saudi oil exports down 10.75% in 2019 Commodities
MWC 2020 cancelled over coronavirus worries Global Reports
Finastra's solutions cover 90% of banks’ needs
Interview: We look to repeat Finastra Egypt Digital Trade Forum – Serge Tohme
Iron prices have dropped by EGP 300 per tonne since the beginning of the week
Iron prices to further decline as EGP levels up Commodities
Bahrain launched Cloud First Policy in 2017
Pakiza Abdulrahman: Gov’t leads cloud adoption in Bahrain; private sector is following – Interview Macroeconomics
Startups do not repay the funding since it is a grant by Tamkeen
How can non-local startups get grants in Bahrain? – Interview with Pakiza Abdulrahman Macroeconomics
Salma is the Arabic version of Google Home and Amazon Alexa
Story behind first Arabic voice assistant ‘Salma’ – Interview Event
Pakiza Abdulrahman, Manager of Business Development for Startups at EDB
Pakiza Abdulrahman: We encourage Egyptian startups to set up in Bahrain – Interview Macroeconomics
Vera Futorjanski during a panel at RiseUp Summit 2019
Vera Futorjanski: Startups must focus on solving local challenges – Interview Macroeconomics
Credit Agricole is still developing SMEs portfolio and getting some resources
Antoine Paliard talks fintech innovation, startup contests – Interview Central Banks
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Islamic Finance
The bank has set the minimum subscription at SAR 10 million
NCB launches SAR-denominated Tier 1 Sukuk Banking and Finance
Sharjah has issued AED 4 billion Sukuk
Sharjah pumps AED 4bn liquidity to support banking system Sector Reports
HSBC was hired as global coordinator for the transaction
Sharjah launches new dollar-dominated Sukuk Sukuk and Islamic Finance
The issuance is part of a Sukuk programme at a maximum value of $2 billion
Warba Bank receives regulatory approval for KWD 150m Sukuk Sukuk and Islamic Finance
The outlook on all ratings was changed to ratings under review
Moody’s downgrades Arabian Centres ratings Real estate
Riyad Bank and MIS signed the finance agreement on 4 May
MIS signs SAR 290m Islamic finance deal Banking and Finance
Dividends will be distributed at SAR 0.0674 per unit
Albilad Sovereign Sukuk ETF announces dividends Banking and Finance
The banks' investments in stocks were lowered to AED 9.1bn in March
UAE banks slash bond, stock investments in March Central Banks
Capital Market Authority (CMA)
Mudaraba Fintech application receives experimental permit Companies Investments
Sukuk trading suspension will begin on 15 June 2020
Riyad Bank to redeem SAR 4bn Sukuk Banking and Finance
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Arab Markets
The market cap value gained EGP 9.5 billion
EGX30 ends Thursday at highest level since mid-March Trading Activities
Egypt's construction and building industry is valued at $25 billion
Fitch sees Egypt as MENA's largest construction market by 2029 – Cabinet Real estate
The benchmark index closed at 7,207.78 points
Tadawul maintains downward streak for third day Trading Activities
The total number of recoveries reached 19,572
UAE's coronavirus cases exceed 37,000
The oil exports represented 93.28% of Kuwait's total exports
Kuwait's oil exports slump to KWD 3.61bn in Q1-20 Macroeconomics
The deal involved the trading of 11.52 million shares
Dice sees EGP 18.4m block-trading deal Insider Trading & Treasury Stocks
Chinese exports to Egypt declined to $3.08 billion
Egypt’s non-oil imports down 21% in 4M – CAPMAS Macroeconomics
Turnover amounted to AED 222.95 million
ADX gains AED 1.81bn on Thursday Trading Activities
The market cap value jumped by AED 3.74 billion
DFM exceeds 2,000 pts at Thursday's close Trading Activities
Tijara and Real Estate Investment came on top of the green zone
Boursa Kuwait closes Thursday on gains Trading Activities
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International Markets
Global markets may return to fundamentals in 2020 –Emirates NBD
BOE maintains rates at 0.75%, drops limited and gradual tightening
Fear arises as Brexit impact on power sector still unclear
Uber, Hyundai team up to launch future Uber Air Taxis
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