Arab Press

بالشعب و للشعب
Friday, Aug 22, 2025

Abu Dhabi outperforms Gulf markets; Saudi retreats

Abu Dhabi outperforms Gulf markets; Saudi retreats

Most stock markets in the Gulf ended higher on Monday, mirroring strong oil prices, although the Saudi index snapped a four-day winning streak on profit taking.
Oil prices hit multi-year highs buoyed by recovering demand and high natural gas and coal prices encouraging users to switch to fuel oil and diesel for power generation.

Saudi Arabia's benchmark index (.TASI) eased 0.1%, hit by a 1.5% fall in petrochemical maker Saudi Basic Industries (2010.SE) and a 4.8% decline in Yanbu National Petrochemicals Co (Yansab) (2290.SE).

Yansab reported a quarterly net profit of 179.8 million riyals ($47.94 million), down from 195.6 million riyals a year earlier.

Investors tried to secure their gains after the main index surpassed its 2008 peak briefly yesterday, said Wael Makarem senior market strategist at Exness.

"The Saudi market could see some price corrections as investors take their profits before rejoining the uptrend."

In Abu Dhabi, the index (.ADI) added 0.7%, buoyed by a 1.9% rise in the country's largest lender First Abu Dhabi Bank (FAB.AD) and a 0.5% increase in Emirates Telecommunications Group (ETISALAT.AD).

Dubai's main share index (.DFMGI) gained 0.5%, with blue-chip developer Emaar Properties (EMAR.DU) closing 1% higher and diversified investment group Dubai Investments (DINV.DU) advancing 2.4%.

The United Arab Emirates on Sunday recorded a drop in daily COVID-19 cases to below 100 for the first time since the start of the outbreak last year as it hosts a huge world fair to which it hopes to attract millions of visits.

The Qatari benchmark (.QSI) gave up early gains to finish 0.1% lower, driven down by a 0.9% drop in Qatar National Bank (QNBK.QA).

However, the index's losses were limited by gains at sharia-compliant lender Masraf Al Rayan (MARK.QA), which climbed 1.7% ahead of its earnings announcement.

Egypt's blue-chip index (.EGX30) concluded 1.1% higher, extending gains for a ninth session, with top lender Commercial International Bank (COMI.CA) climbing 1.9%.

Egypt will mandate that public sector employees must either be vaccinated against COVID-19 or take a weekly coronavirus test to be allowed to work in government buildings after Nov. 15, a cabinet statement said on Sunday.

** Bahrain was closed for a public holiday
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
×