A general view shows the Dubai Financial Market after Joe Biden wins U.S. presidency, in Dubai, United Arab Emirates November 8, 2020. REUTERS/Christopher Pike
Most Gulf markets fell on Tuesday, as fears of a drop in demand for crude capped oil prices, while investors continued to steer money toward Dubai cheering bumper response to a recent initial public offering (IPO).
Oil prices extended losses for a second session on fears of a drop in fuel demand in China after the financial hub of Shanghai shut down to curb a surge in COVID-19 cases.
Ukraine and Russia are set to meet in Istanbul later in the day for their first peace talks in over two weeks. However, air raid sirens sounded across Ukraine before dawn, while Kyiv seeks ceasefire without compromising on territory or sovereignty. read more
Dubai’s main financial index (.DFMGI) rose for the fifth consecutive session with its gain of 1.4%.
State utility Dubai Electricity and Water Authority’s (DEWA) IPO to raise as much as 8.06 billion dirhams ($2.19 billion) has boosted sentiment in the region after subscription kicked off last week.
The IPO is the largest such deal in the emirate since DP World in 2007. read more
Shares of Waha Capiral rose 1.2% after the company approved dividend distribution on Monday.
Saudi Arabia’s benchmark index (.TASI) traded flat, with gains in financial stocks offset by losses in the energy sector.
State-run Saudi Aramco (2222.SE) dropped 0.6%.
Shares of Al Masane Al Kobra Mining Co jumped 10% in their debut on the exchange, rising as much as 69.3 riyals from their IPO price of 63 riyals.
The region has also seen a boost in IPOs since it listed Saudi Aramco (2222.SE) in a record $29.4 billion listing in 2019.
The Abu Dhabi index (.FTFADGI) inched up, while the Qatari index (.QSI) fell for a second straight session, slipping 0.3%.
Reporting by Tanvi Mehta in Bengaluru; Editing by Rashmi Aich
This article was originally published by Reuters.
Ghada Ashour, who grew up in Gaza, becomes fifth scholar selected for FIA’s flagship scholarship initiative Dubai, UAE, 8th December, 2025: The FIA’s United Against Online Abuse (UAOA) Campaign has welcomed Ghada Ashour, a 24-year-old student from Palestine, to its flagship scholarship programme, created to empower the next generation of researchers in the fight against online abuse in sport. Ghada grew up in Gaza where she has been studying remotely until gaining her place on the UAOA scholarship, which brought her to Dublin City University (DCU), Ireland. Becoming the fifth scholar to join the scholarship, she was selected based on her interests in social media, and her strong passion for advancing insights in this area for the benefit of everyone participating in sport. Launched in 2023, the programme offers talented students and young professionals from diverse backgrounds the opportunity to engage in cutting-edge research on the impact, prevalence, and prevention of online abuse in sport with a focus on developing practical solutions. Funded by the FIA Foundation, the UAOA scholars have been selected to undertake invaluable research at DCU based on their project proposals, dedication to achieving positive social change, and their unique perspectives approaching this issue. Ghada’s thesis, which will be printed in English and translated into Arabic, will focus specifically on the …
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