FILE PHOTO: Qatar's traders look at share prices on an electronic display at the Doha Stock Exchange in Doha, Qatar January 8, 2020. REUTERS/Naseem Zeitoon
- Major stock markets in the Gulf traded higher early on Sunday, with Qatar’s index leading the gains following a report that a resolution to a dispute with some of the country’s Arab neighbours seemed “within reach”. In Qatar, the main index advanced 1.7% with all the shares in the index were in positive territory including Qatar National Bank, the Gulf’s largest lender, which was up 1.6%.
Saudi Arabia, the United Arab Emirates, Bahrain and Egypt have imposed a diplomatic, trade and travel embargo on Qatar since mid-2017, accusing Doha of supporting terrorism.Dubai’s main share index gained 1.4%, buoyed by 4.4% jump in blue-chip developer Emaar Properties. The Abu Dhabi index rose 0.8%, led by a 1.6% gain in the country’s largest lender First Abu Dhabi Bank.Saudi Arabia’s benchmark index edged up 0.3%, on track to end three sessions of losses, with Al Rajhi Bank rising 0.4%.
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Saudis approach Qatar with their tails between their legs
The Kushner’s shenanigans are over
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Do you currently know anyone hospitalized for Covid?