Mideast Stocks: Gulf bourses end mixed on US-China trade-talks
Stock markets in the Gulf ended mixed on Wednesday as there was little progress in U.S.-China trade talks, dashing hopes it would ease long-standing tensions between the world's largest economies. Top officials of both countries said on Tuesday they agreed on a framework to get their trade truce back on track and remove China's export restrictions on rare earths, while offering little sign of a durable resolution.
Saudi Arabia's benchmark index - which traded after a four-session eid break - gave up early gains to finish flat. Meanwhile, the kingdom's crude oil supply to China is set to dip slightly in July, Reuters reported on Tuesday, citing trade sources, but still strong for a third straight month as the OPEC kingpin regains its market share supplying the world's top crude importer.
Dubai's main share index eased 0.1%, hovering around 17-year high, with top lender Emirates NBD losing 2%. The Dubai stock market remained relatively flat, suggesting potential uncertainty as the market hovers near 17-year highs, which may prompt some investors to engage in profit-taking, said Joseph Dahrieh, Managing Principal at Tickmill.
In Abu Dhabi, the index inched 0.1% higher, with ADNOC Gas gaining 1.2%. ADNOC Gas said on Tuesday it had taken a final investment decision on the first phase of its Rich Gas Development (RGD) Project, awarding $5 billion in contracts to expand and improve efficiency at the project.
The Qatari index added 0.2%, with Qatar Gas Transport increasing 2.8%. Outside the Gulf, Egypt's blue-chip index was up 0.1%, helped by a 2% rise in Commercial International Bank .
SAUDI ARABIA was flat at 11,005
Abu Dhabi up 0.1% to 9,805
Dubai eased 0.1% to 5,596
QATAR added 0.2% to 10,713
EGYPT up 0.1% to 32,935
BAHRAIN down 0.1% to 1,923
OMAN rose 0.2% to 4,592
KUWAIT gained 0.7% to 8,983
(Reporting by Ateeq Shariff in Bengaluru; Editing by Leroy Leo)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
14 minutes ago
- Al Etihad
ACTVET to host Skills Camp programme to enhance national capabilities
28 June 2025 13:09 ABU DHABI (ALETIHAD)The Abu Dhabi Centre for Technical and Vocational Education and Training (ACTVET) is launching the Skills Camp programme, which will take place from June 30 to July 24 in Abu Dhabi, Al Dhafra, and Al initiative aims to enhance and develop technical and vocational skills among UAE Nationals across different age Skills Camp offers a wide range of courses and workshops across 19 technical and vocational skill areas. The programme is designed for Emiratis, targeting school and university students, along with various other segments of the camp will be held at ACTVET's educational institutions and will be conducted under the guidance of experts in technical and vocational education and training, ensuring a dynamic and enriching learning initiative reflects the centre's commitment to developing national capabilities and strengthening citizens' skills in line with global standards, thereby supporting the country's sustainable economic development programme is held during both summer and winter breaks, offering participants a valuable opportunity to acquire new skills and enhance their professional capabilities in an inspiring educational programme will be held from June 30 to July 24 across four locations including Abu Dhabi – Applied Technology Schools, Mohammed Bin Zayed Campus, Abu Dhabi – Applied Technology Schools, Baniyas Campus, Al Ain Region – Applied Technology Schools, Al Aqabiya Campus, and Al Dhafra Region – Applied Technology Schools, Baynounah programme will be open to juniors enrolled in Grades 6 to 9, seniors enrolled in Grades 10 to 12, university students, and to adults aged 24 years and line with the Year of Community, the programme has been expanded to include elementary-level children enrolled in Grades 3 to 5 across three skill areas. Skills options will include Health & Social Care, Industrial Control, Industrial Design Technology, IT Software, Solutions for Business, Mechanical Engineering CAD, Painting & Decorating, Refrigeration & Air Conditioning, Renewable Energy, Website Technologies, Welding, 3D Designing & Printing, Automobile Technology, Autonomous Mobile Robotics, Car Painting, CNC Milling, CNC Turning, Smart Home Automation, Electronics and Graphic Design Technology. Source: Aletihad - Abu Dhabi
Arabian Business
an hour ago
- Arabian Business
Riyadh Monopoly board game unveiled, showcasing Saudi capital's culture and landmarks
Riyadh Monopoly, a new edition of the world's most iconic board game, has officially been unveiled in the Saudi capital. The game was launched on June 26, 2025 at a high-profile event held at the King Abdullah Financial District (KAFD) Conference Centre, attended by government, cultural, education and media leaders. The launch marks Riyadh's first-ever Monopoly edition, designed to reflect the capital's most recognisable landmarks, historic streets and visionary developments — from ancient quarters to cutting-edge urban hubs like KAFD. Riyadh Monopoly Mazroua Al-Mazroua, Chief Marketing and Experience Officer, at the King Abdullah Financial District Development and Management Company (KAFD DMC), said: 'Riyadh Monopoly reflects our goal of making big, strategic projects accessible and engaging to all ages. 'As the leading destination for international and local businesses in Saudi Arabia, we are creating new opportunities for the next generation to thrive. We want the new generation to recognise the names and places shaping their future. What better way than through play?'. With over 50 per cent of Riyadh's population under the age of 20, the game aims to bring families and young people together through competitive play — all while promoting awareness of Saudi Arabia's rich culture, modern transformation, and investment in youth empowerment. The Riyadh Monopoly edition is expected to appeal to both local families and international visitors, offering a dynamic introduction to the city through an interactive lens. Riyadh Monopoly will hit stores across Saudi Arabia in September 2025, and is expected to become a popular souvenir and educational tool — helping residents and tourists alike explore the city's transformation from historic capital to modern megacity. Among the iconic locations included in the board game's latest edition are: KAFD Financial Plaza Souk Al Zal Diplomatic Quarter King Fahd Road The Ritz-Carlton British International School
Arabian Business
an hour ago
- Arabian Business
UAE petrol prices to change; Dubai real estate hotspots; Millionaire investment tips; Leave guide and 2026 holiday dates – 10 things you missed this week
From UAE petrol price changes and new credit rules to real estate innovations and millionaire savings plans, the Gulf is seeing rapid shifts in finance and lifestyle. Meanwhile, smart city projects, public sector reforms, and Ramadan 2026 forecasts are helping shape the months ahead. Catch up with 10 of the biggest stories this week, as selected by Arabian Business editors. UAE petrol prices to change for July 2025 The UAE is set to announce petrol prices for July 2025 in the next few days. Petrol prices have remained virtually unchanged for the past three months, following two months of freezes to the cost of filling up at the pump. Despite the current stability, it is currently significantly cheaper to fill up a tank than year ago, with all categories becoming more affordable, despite prices fluctuating throughout the past 12 months. Saudi Arabia announces new credit card rules The Saudi Central Bank (SAMA) has announced updated credit card rules. The updated regulations will be for credit card issuance and operation, targeting cost reduction for customers whilst increasing disclosure and transparency levels, and will take effect within 30 to 90 days. Under the updated framework, credit card issuers must notify customers of fee changes via SMS, with customers permitted to terminate their agreements within 14 days of receiving such notices. E-wallet top-ups via credit cards will no longer incur charges. The regulations establish new fee structures for cash withdrawals. For amounts below SR2,500, fees are capped at 3 per cent of the transaction value. Dubai residents can now instantly check credit scores online Dubai residents can now check their credit reports and scores directly through the DubaiNow app, thanks to a new integration with the Etihad Credit Bureau. The collaboration between Etihad Credit Bureau (ECB) and DubaiNow, the UAE's leading unified government services app, allows users to access their personal Credit Report and Credit Score in real time with a single click—simplifying financial planning and enhancing digital accessibility. DubaiNow offers more than 300 integrated services from both government and private sector entities. With the new feature, users can log in to the app and instantly view their credit insights—supporting informed financial decisions and streamlining access to key personal data. UAE real estate: 6 major hotspots to invest in right now, delivering 9% returns The UAE's real estate sector recorded transactions worth over AED 239bn (approximately $65bn) in the first quarter of 2024, according to official figures. Property consultancy Whitewill has identified six locations drawing investor attention during the summer period. According to the analysis, the market favours projects combining lifestyle, location, and financial returns. Indian Aces 2025: Meet the Gulf's most powerful Indian business leaders The Indian business community remains an indispensable pillar of the United Arab Emirates' economic architecture. These entrepreneurs, executives, and visionaries – many of whom are celebrated in our Indian Aces 2025 power list – have transformed industries across the Emirates. From retail and healthcare to technology and construction, these business leaders have created enterprises that form the backbone of the region's economic landscape. Dubai real estate: How to buy property for $545 – tokenization explained Dubai is reshaping access to real estate with a new government-backed platform that lets investors own a slice of the city's booming property market for as little as AED 2,000. By turning property into digital tokens, the initiative introduces a new model of ownership that aims to make real estate investment faster, more flexible, and more accessible — all within a regulated blockchain ecosystem. But, what exactly is Dubai real estate tokenization and how does it actually work? Ajman reduces work hours and launches remote work Fridays from July1 Ajman has unveiled a new plan with reduced hours and remote work on Fridays. The 'Balanced Summer' initiative for government employees is aimed at promoting work-life balance, family cohesion, and environmental sustainability during the summer months. The plan was approved during a meeting of the Ajman Executive Council chaired by Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman. Under the initiative, 100 per cent remote work will be in effect every Friday from July 1 to August 22, 2025. In addition, working hours from Monday to Thursday will be reduced to seven hours, running from 7.30 am to 2.30 pm across all government entities. UAE Ramadan and Eid 2026: Expected dates for Ramadan, Eid Al Fitr and Eid Al Adha announced Expected dates for Ramadan 2026 in the UAE have been announced by the Emirates Astronomy Society. The Emirates Astronomy Society forecasts Ramadan will begin on February 18, 2026, with Eid Al Fitr likely on March 20 and Eid Al Adha on May 27. Ibrahim Al Jarwan, chairman of the board of directors of the Emirates Astronomy Society, shared expected dates for holidays and events next year. UAE residents need nearly $1,800 monthly to become millionaires in 10 years, financial experts reveal The UAE's wealth creation ecosystem has produced some of the world's fastest-growing millionaire population, with specific strategies emerging for building seven-figure wealth. Anchored by zero personal income tax, 100 per cent foreign ownership rules, and $817 billion in non-oil trade, the nation has transformed into a magnet for entrepreneurs, investors, and high-net-worth individuals (HNWIs) seeking to drive their way to millionaire status But, how much can one build and save to hit AED1 million in the UAE? UAE Leave Guide 2025: Every type of holiday you're entitled to explained UAE workers will enjoy a public holiday on Friday, June 27, to mark the Islamic New Year — giving many a long weekend. But did you know there are nine official types of leave you're entitled to in the UAE? From annual holidays and sick leave to study breaks and maternity support, here's your full guide to every type of leave under UAE Labour Law in 2025.
