GCC
Gulf Stocks Drop as US Strike on Iranian General Lifts Tension

(Bloomberg) –Stocks in the Gulf went into retreat as the U.S. killing of Iran’s most prominent general reverberated across the region.
Kuwait’s benchmark index dropped more than 4% just minutes after trading began, while there were losses in Abu Dhabi, Dubai and Oman.
Geopolitical tension spiked after Iranian General Qassem Soleimani was killed in Iraq last week in a U.S. drone attack. Iranian President Hassan Rouhani told Soleimani’s relatives that the U.S. “won’t see the effects of their mistake today, but they will witness it over many many years to come.” President Donald Trump said late Saturday the U.S. has identified 52 Iranian sites that it would hit if Tehran retaliates.
“Investors who were hoping for lower geopolitical tension in the Middle East, North Africa region in 2020 got their hopes dashed on the second day of the year,” said Mohammed Ali Yasin, chief strategy officer at Abu Dhabi-based Al Dhabi Capital Ltd. “2020 will continue to be a year of high geopolitical tensions in our region.”
-
Banking & Finance1 month ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
OER Magazines2 months ago
OER, May 2025
-
Bahrain1 month ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
Banking & Finance2 months ago
Central Bank of Oman Issues Regulatory Framework for Digital Banks
-
Banking & Finance3 weeks ago
National Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
Insurance2 months ago
Liva Insurance Sets New Benchmark with ‘Innovative Insurer of the Year’ Award at the New Age Banking Summit 2025
-
Energy4 weeks ago
Russian Energy Week from October 15-17, 2025 offers alternative formats of cooperation
-
Banking & Finance1 month ago
The Future of the International Financial System to be discussed at SPIEF 2025