
Mideast Stocks: Gulf stocks steady as strong earnings offset US tariff jitters
Despite global jitters, strong results from regional heavyweights and steady oil prices helped offset external headwinds.
Saudi Arabia's benchmark index edged 0.2% higher, on course to snap its longest downturn in nearly two years, with financials driving the gains.
Saudi National Bank - the country's biggest lender by assets - gained 1.5% and Al Rajhi Bank, the largest sharia-compliant bank, jumped over 1% after their strong second-quarter results lifted sentiment across the banking sector.
However, the petrochemical giant SIPCHEM fell 3.7% after posting a rare loss, breaking a five-year streak of profitability.
Dubai's benchmark index eased 0.1%, pressured by broad-based declines as investors locked in gains after a recent multi-year rally.
Meanwhile, Air Arabia surged 5.1% to a fresh record high after securing a bid to operate a new Saudi low-cost national airline, set to launch by 2030.
Abu Dhabi Index posted a decline ahead of key upcoming earnings as investors looked for cues on the market's next direction.
Qatar's stock index added 0.1%, nearing a two-year peak, led by a 1.5% rise in Commercial Bank.
Among other gainers, Qatar International Islamic Bank advanced 1.4% on a year-on-year rise of 5.2% in its six-month profit.
(Reporting by Amna Mariyam and Ateeq Shariff in Bengaluru; Editing by Vijay Kishore)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Zawya
23 minutes ago
- Zawya
The Gambia: African Development Fund Approves $19.93 Million Grant to Tackle Fragility and Expand Opportunities for Rural Youth and Women
The Board of Directors of the African Development Bank Group ( has approved $19.93 million grant funding for the Resilience Building - Vulnerable Youth and Women Support Project, designed to improve access to basic social services for underserved communities in The Gambia. The initiative seeks to address the root causes of poverty and irregular migration by creating sustainable livelihoods and tackling early signs of fragility and preventing structural drivers of conflict and instability in the targeted region. It forms part of the Bank's scaled-up prevention agenda under the Prevention Envelope of the Transition Support Facility (TSF), which emphasizes early response to fragility risks and systematic drivers of conflict. The Gambia faces severe economic challenges, with 53.4% of the population living below the poverty line. Poverty is particularly severe in rural areas, affecting 76 percent of residents, compared to 34 percent in urban areas. Youth unemployment stands at 38.6%, with women disproportionately impacted -- 1.3 unemployed women for every unemployed man. These socio-economic disparities, coupled with limited access to services, are major push factors fuelling irregular migration and social instability. Although the country has achieved robust electricity access nationwide, glaring regional inequalities persist. In areas such as Kuntaur and Janjanbureh, fewer than one in four people have access to electricity, compared to 95 percent in the capital. Additionally, one in four children suffers from malnutrition. By targeting these gaps, the project aims to renew the social contract and foster community resilience. 'This project represents our commitment to tackling the foundational causes of fragility, poverty, exclusion, and lack of opportunity, by investing in people and systems that build community resilience and hope,' said Dr. Joseph Ribeiro, African Development Bank Deputy Director General for West Africa, and Country Manager for The Gambia. 'Through the TSF Prevention Envelope, we are acting early to prevent conflict and youth migration by fostering inclusive growth, gender equality, and institutional stability, while building foundations for sustainable livelihoods that will keep families and communities together.' The project will directly create 1,500 jobs, enhance productivity for 5,000 existing positions, and provide annual skills training to 500 youth in high-demand sectors such as agriculture, engineering, ICT, and renewable energy. In addition, support will be extended to 500 women-led micro and small enterprises and 50 women's cooperatives. Key investments in health infrastructure will include rehabilitating four primary health facilities vulnerable regions, including Basse, Kuntaur, and Janjanbureh, where maternal mortality and child malnutrition rates exceed national averages. Enhanced nutrition surveillance systems will enable early detection for 22,000 children and facilitate treatment for 1,000 children requiring specialized care. Food insecurity has surged, rising from 13.4 percent in 2021 to 29 percent in 2023, with peaks of 61 percent in areas such as Kuntaur. The project will address this crisis by promoting climate-smart agriculture and strengthening local values chains to improve food security and reduce vulnerability to climate shocks. Financial inclusion is a core pillar of the intervention. With 77 percent of Gambian youth currently excluded from formal financial services, the project will establish dedicated credit lines and provide business development support to unlock entrepreneurship, particularly for women who face systemic barriers to accessing capital and markets. The initiative also includes scaling up efforts to tackle gender-based violence and inequality, and capacity-building for government institutions to enhance data-driven policymaking and long-term monitoring of fragility trends. Civil society organisations, including the Association of Non-Governmental Organizations (TANGO), will be central to ensuring the project is inclusive, participatory, and aligned with national priorities. Distributed by APO Group on behalf of African Development Bank Group (AfDB). Media Contact: Natalie Nkembuh, Communication and Media Relations Department media@


Fintech News ME
44 minutes ago
- Fintech News ME
MENA Startup Funding Hits US$2.1 Billion in H1 2025
Startup funding in the Middle East and North Africa (MENA) reached US$2.1 billion during the first half of 2025, with 334 deals recorded across the region. This marks a 134% increase compared to the same period in 2024. While part of the growth was driven by an increase in debt-based financing, the figures reflect a notable level of investor activity amid persistent regional uncertainty. The second quarter ended with US$583.4 million invested across 149 deals, surpassing both the value and volume recorded in Q2 2024. Despite a slowdown in June, the quarter's performance indicated continued investor appetite for regional startups. Market conditions remained difficult in the first half of the year. Currency fluctuations, geopolitical tensions and volatile commodity prices, particularly in gold, oil and the US dollar, all contributed to an unpredictable environment. Nonetheless, several venture capital firms remained active, investing with caution. Fintech drew the highest amount of capital in Q2, with 38 startups raising a total of US$170 million. Proptech followed with US$77 million across eight deals, while the traveltech sector raised US$40 million through two transactions. Saudi Arabia recorded the highest funding volume during the quarter, overtaking the UAE. A total of US$231.5 million was invested in 38 Saudi startups, compared to US$197.7 million across 52 UAE-based companies. Egypt ranked third, attracting US$133 million through 30 transactions. By stage, mid-stage startups received the largest share of capital, with 10 Series A rounds totalling US$161 million. Early-stage companies accounted for the majority of deals, with 67 transactions recorded. Only four debt deals took place during the period, alongside two later-stage equity rounds. Total investment in H1 2025 reached US$2.1 billion, a substantial increase from US$898 million in H1 2024. However, excluding debt financing, which contributed US$930 million, the year-on-year growth narrows to 53%. The increase in funding coincided with renewed international interest in the region following a visit from US President Donald Trump, who was accompanied by a group of major Silicon Valley investors. The visit was widely seen as a signal of strategic interest in the region's technological infrastructure and market potential. Saudi Arabia accounted for approximately 64% of total capital deployed across MENA during the first half of the year. Investment volume in the Kingdom rose 342% year on year, driven by a policy-backed ecosystem and consistent government support. Fintech was the leading sector in Saudi Arabia, securing US$969 million across 20 deals. Contech and proptech followed with US$48 million and US$39 million respectively. Local venture capital firms received support from sovereign wealth funds, while government incentives attracted international startups and technologies. Male-led ventures continued to dominate the funding landscape. However, three female-founded startups in Saudi Arabia raised a total of US$60 million, and mixed-gender founding teams secured US$34 million across seven transactions. Domestic firms such as STV, Wa'ed Ventures and Raed Ventures led funding activity in the Kingdom. Foreign participation was also present, including JPMorgan's involvement in a debt round raised by Lendo, which signalled institutional interest in Saudi fintech. The UAE recorded steady growth despite competitive regional pressure. In H1, 114 UAE-based startups secured US$541 million, an 18% increase compared to the previous year. Debt made up 19 percent of this total, suggesting a relatively stronger equity market. Fintech led sectoral funding in the UAE with US$265.8 million raised across 35 deals. Insurtech followed with US$55 million from five transactions. Web3 and AI companies each raised US$44.7 million, through 11 and 13 startups respectively. Eight female-led startups in the UAE raised US$17.6 million, while mixed-gender teams secured US$91.7 million. Startups founded exclusively by men received the majority of capital. Egypt recorded a 106 percent year-on-year increase in startup funding, with US$179 million raised across 52 deals. This growth came despite continued macroeconomic strain, including external debt reaching 38.8% of GDP by the end of 2024. Debt financing accounted for 13% of activity in the market. In contrast to Saudi Arabia and the UAE, Egypt's most funded sector was proptech, which attracted US$75 million through three deals. Fintech companies raised US$85.3 million across 10 transactions, and e-commerce startups secured US$24.8 million across seven. Female-founded ventures in Egypt raised a total of US$425,000, while mixed-gender teams secured US$23 million. The remaining capital went to 37 startups led exclusively by men. Across the MENA region, fintech remained the top-funded sector in H1, attracting 62% of all deployed capital through 77 deals. Two of the three largest deals recorded during the period were directed toward fintech firms. A single large investment in iMena Group boosted venture studios to second in terms of capital raised, followed by proptech, which attracted US$119 million across 16 companies. E-commerce startups raised US$65 million in 24 deals. Debt instruments played a significant role in shaping funding trends in H1, accounting for approximately 44% of total capital or US$930 million. This reflects a shift in investor behaviour in response to wider global economic uncertainty. Early-stage companies, from pre-seed to Series A, attracted US$568 million in funding, while later-stage companies, ranging from pre-Series B to pre-IPO, raised US$431.7 million. Despite mid-stage rounds capturing the largest share by value, early-stage startups remained dominant in terms of deal count. Business-to-business models drew the most investor interest, with B2B startups raising US$1.5 billion across 197 transactions. This represented 70% of total funding in the first half. The remainder was allocated to B2C or hybrid startups. Funding distribution across genders remained uneven. Startups founded exclusively by men received nearly 89% of total H1 capital. Female-founded companies raised a combined US$84.5 million across 27 deals, while mixed-gender teams secured US$150 million.


Gulf Business
2 hours ago
- Gulf Business
Saudi investment delegation signs $6.4bn in deals during Syria visit
Image: Saudi Press Agency A high-level Saudi investment delegation, led by Minister of Investment Eng. Khalid Al-Falih, has concluded a multi-day visit to Syria aimed at strengthening economic ties and driving long-term cooperation across key sectors. The visit, which included a series of meetings with Syrian officials, culminated in the Syrian-Saudi Investment Forum, held under the patronage of Syrian President Ahmad al-Sharaa. Several ministers and senior officials from both nations participated in the event. During the forum, 47 Saudi-Syrian investment agreements were signed, with a total value of nearly $6.4bn (SAR24bn). The deals span a wide array of sectors, including real estate, infrastructure, finance, communications and IT, energy, industry, tourism, trade, investment, and healthcare. On the sidelines of the forum, a ministerial session brought together Eng. Al-Falih, Syrian Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar, Minister of Tourism Mazen Al-Salhani, and Saudi-Syrian Business Council and ACWA Power chairman Mohammad Abunayyan. Discussions focused on revitalising economic ties and Saudi Arabia's support for Syria's post-conflict reconstruction. The session also underscored the commitment of Saudi Arabia, under the leadership of King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman, to enabling Syria's recovery through investments and partnerships. Projects Several notable projects were announced during the forum. Al-Badia Cement Company unveiled plans to invest over $200mto expand its grinding, packaging, and power generation capacities, aiming to boost annual output to more than 5 million tons. The company also expressed interest in partnering with the Syrian government to enhance state-owned cement operations and ensure market stability. Minister Al-Falih also met with various Syrian ministers to explore additional avenues of cooperation supporting comprehensive development. Read: As part of the visit, the delegation conducted field visits to existing and planned Saudi projects in Syria. Al-Falih laid the foundation stone for the Al-Fayhaa Cement Factory, a project worth approximately $27m (SAR100m), which will have an annual capacity of 150,000 tonnes. The project is expected to enhance local content and drive knowledge transfer. Another major development is the Al-Jawhara Commercial Tower in Damascus, a Saudi-Syrian initiative with a built-up area of 25,000 square meters and an estimated investment of over $100m (SAR375m). The mixed-use tower will feature office spaces, retail outlets, and hotel units, further contributing to Syria's urban and economic redevelopment.