A trader looks at the screens at Bahrain Bourse in Manama, Bahrain, February 7, 2018. REUTERS/Hamad I Mohammed
Jan 5 (Reuters) – Most major stock markets in the Gulf rose in early trade on Wednesday, shrugging off concerns that the Omicron coronavirus variant could choke the global economic recovery.
Saudi Arabia’s benchmark index (.TASI) edged up 0.2%, helped by a 1.1% rise in Riyad Bank (1010.SE) and a 0.3% increase in oil behemoth Saudi Aramco (2222.SE).
Oil prices, a key catalyst for the Gulf’s financial markets, steadied as investors assessed the impact of a massive spike in COVID-19 cases caused by the Omicron variant, though the upside remained limited after U.S. fuel inventories climbed.
OPEC+’s decision this week to stick to its planned increase in oil output for February reflects easing concern of a big surplus in the first quarter, as well as a wish to provide consistent guidance to the market, Reuters reported citing sources and analysts. read more
The kingdom on Tuesday registered 2,585 new infections, up from some 1,000 cases announced on Sunday. It is still below a peak of more than 4,700 in June 2020. read more
Dubai’s main share index (.DFMGI) added 0.1%, with blue-chip developer Emaar Properties (EMAR.DU) advancing 1%.
In Abu Dhabi, the index (.ADI) fell 0.2%, hit by a 1.1% fall in telecoms giant Etisalat (ETISALAT.AD).
The United Arab Emirates, regional tourism and commercial hub, recorded 2,581 new coronavirus casses on Tuesday, as it hosts a world fair during its peak tourist season.
The Qatari benchmark (.QSI) gained 0.6%, led by a 1.3% rise in Qatar Islamic Bank (QISB.QA).
Qatar reported 1,695 new coronavirus cases on Tuesday, the highest daily number since last summer.Reporting by Ateeq Shariff in Bengaluru
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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