Economy
Major Gulf markets open higher after Eid holidays

Most major Gulf markets traded in the positive today after returning from the Eid break, according to a Reuters report. Saudi Arabia and Oman markets are yet to resume trading and will do so on Sunday.
Among individual markets, Dubai’s index rose to 0.4% as most of its real estate stocks traded higher, with blue-chip developer Emaar Properties gaining 1.1%, the report added.
Damac Properties rose to 1.6% after reporting AED 50.6mn in net profit for the second quarter. Earlier in July, EFG Hermes estimated that Damac’s net profit would be at Dh207m this year, down from Dh1.21 billion 2018. The bottom line is expected to drop further to Dh35m in 2020, it added. Damac is the owner and operator of the only golf club in the region under the Trump brand.
Abu Dhabi’s index recorded a 0.1% increase with a 0.7% gain for Emirates Telecommunications Group. According to the report, Waha Capital plunged 5.9% after it swung to second-quarter loss.
Qatar’s index rose to 0.5% with Qatar National Bank leading with a 1.5% rise and Qatar Islamic Bank reporting a gain of 0.9%.
Meanwhile, global equity markets also saw a rise with President Donald Trump having delayed plans to impose 10% tariffs on some Chinese imports, including cellphones, laptops and many other consumer goods.
-
Banking & Finance2 days ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
OER Magazines2 months ago
OER, April 25
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, April 25
-
Renewables1 month ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Leaders Speak1 month ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, May 25
-
OER Magazines4 weeks ago
OER, May 2025
You must be logged in to post a comment Login