MIDEAST STOCKS Gulf bourses mixed in early trade


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

Saudi Arabia’s benchmark index was down 0.4%, extending losses from the previous session.

Saudi National Bank , the kingdom’s largest lender, and petrochemical firm Saudi Basic Industries Corp were both down 1.4%.

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 (VAT) to 15% was temporary.


You may also like

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: