Page 15 - Qa News Today

The United Arab Emirates is increasingly pursuing bilateral trade deals outside of the Saudi-headquartered regional Gulf Cooperation Council (GCC), as competition with Riyadh intensifies for economic dominance in the oil-rich region.

Most Gulf stock markets were subdued on Tuesday, mirroring a decline in Asian shares and volatile energy prices as standoff over the U.S. debt ceiling capped investor risk appetite, although Abu Dhabi edged up led by hospital operator Burjeel.

Qatar Investment Authority has been very active in private and public credit over the past two years, CEO Mansoor Ebrahim Al-Mahmoud said on Tuesday.

Majid Al Futtaim (MAF) and Banque Saudi Fransi both launched Islamic bonds, or sukuk, on Tuesday, as investor demand and favourable conditions drive issues from the Gulf region.

Most major Gulf stock markets opened higher on Monday, while Saudi Arabia's benchmark index extended its losses as lower oil prices and concerns over U.S. debt ceiling negotiations dampened investor sentiment.

Middle East crude prices in Asia fell to their lowest level in months, despite OPEC+ production cuts, traders said, as Asian refiners held back spot purchases and China and India binged on cheap Russian oil.

President Bashar al-Assad's attendance at an Arab Summit in Saudi Arabia on Friday is the result of big policy shifts by Arab states that once backed his opponents in Syria's civil war.

Stock markets in United Arab Emirates closed lower on Friday for a second consecutive session as investors remained cautious amid the volatile energy market.

Most stock markets in the Gulf fell in early trade on Thursday on lower oil price, although the Saudi index bucked the trend to trade higher.

The Arab League's welcoming back of Syria's President Bashar al-Assad into its ranks highlights how far behind Qatar has fallen in its bid to be a diplomatic voice that carries weight in the Middle East.