MIDEAST STOCKS Gulf bourses mixed in early trade

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Stock markets in the Gulf were mixed early on Sunday, with bourses in the United Arab Emirates supported by corporate earnings reports.

On Wednesday, the Saudi index registered sharp gains after Crown Prince Mohammed bin Salman said the kingdom had no plans to introduce income tax and a decision last July to triple value-added tax to 15% was temporary.

The country tripled VAT to offset the impact of lower oil revenue on state finances, a move that shocked citizens and businesses expecting more support from the government during the COVID-19 pandemic.Dubai's main share index

 

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