A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018. REUTERS/Faisal Al Nasser
Dubai’s main share index rallied for a seventh consecutive session on Wednesday, after state utility DEWA increased its initial public offering (IPO) size to raise as much as $5.7 billion, while Saudi Arabian stocks edged lower.
Dubai Electricity and Water Authority (DEWA) said it had raised its IPO size to 17% from 6.5%, which could make it the biggest public share-sale for the region since Saudi Aramco’s (2222.SE) record $29.4 billion issue in 2019. read more
Dubai’s index (.DFMGI) rose 0.8%, boosted by real estate and financial stocks. Emaar Properties (EMAR.DU) climbed 2%.
Financial investment services provider Shuaa Capital (SHUA.DU) advanced 2% after it said it will buy Allianz Marine And Logistics Services Holding.
Global markets gained, amid hopes for a negotiated end to the Ukraine conflict, while bond markets signalled concerns about the U.S. economy overnight after 10-year yields briefly dipped below two-year rates.
Oil prices advanced to $111.09 a barrel, while prospects of new Western sanctions against Russia grew despite signs of progress in peace talks with Ukraine.
Russia promised on Tuesday to scale down military operations around Kyiv and another city but the United States warned the threat was not over as Ukraine proposed adopting a neutral status in a sign of progress at face-to-face negotiations. read more
Saudi Arabia’s benchmark index (.TASI) inched lower, dragged down by financials.
Shares of Bindawood Holding (4161.SE) fell 3% after the company posted a lower fourth-quarter profit.
The Abu Dhabi index (.FTFADGI) fell marginally, pausing its six-day spree of gains.
The Qatari index (.QSI) also edged lower, with industrial stocks leading the losses.
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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