Major stock markets in the Gulf were little changed in early trade on Sunday, with expectations of economic recovery nudging Dubai higher again after the index snapped an eight-session winning streak at the end of last week.
Maqsood Alam
4 minute read
Electronic boards showing stock information are pictured at the stock market, in Dubai, United Arab Emirates, November 5, 2020. REUTERS/Abdel Hadi Ramahi
Major Gulf stock markets were mixed on Thursday, with the Abu Dhabi index rising after aquaculture firm International Holding Company reported a higher quarterly profit.
Abu Dhabi s index (.ADI) closed 0.6% higher with a weekly gain of 1.7%. International Holding (IHC.AD) was up 3.3%, boosting the index the most. The firm posted 1.5 billion dirhams of profit in the first quarter compared with 112.2 million dirhams a year earlier.
The company s board also approved acquiring stake in four companies through its units.
May 3, 20218:43 AM UTC
Middle EastMIDEAST STOCKS Most major Gulf stocks gain in early trade, earnings support Abu Dhabi
Reuters
3 minute read
Most major Gulf stock markets were slightly up in early trade on Monday, with Abu Dhabi gaining on corporate earnings, while Saudi Arabia was supported by project expansion announcements from Dr. Sulaiman Al-Habib Medical Services Group (4013.SE) and consumer food and beverages firm Almarai (2280.SE).
Abu Dhabi s benchmark index (.ADI) was up 0.2% as Emirates Telecommunications Group (ETISALAT.AD) advanced 1%, extending gains from the previous session after the telecom operator reported nearly 8% increase in first-quarter profit on Thursday.
Abu Dhabi Islamic Bank (ADIB.AD) rose 1.2%. The Islamic lender on Sunday reported 125.3% jump in first-quarter profit to 607.6 million dirhams ($165.45).
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Vodafone and MTN bid for telecom licenses in Ethiopia
Bloomberg26 April 2021
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MTN and a consortium led by Vodafone have bid for telecommunications licenses in Ethiopia, as wireless service providers look to tap the last remaining large market in the world.
Ethiopia will take a few days to review the technical offer and then open the financial bids, said Brook Taye, an adviser in the Finance Ministry.
Earlier on Monday, Kenya’s largest telecommunications provider Safaricom said it was bidding for one license jointly with Vodafone and the UK carrier’s South African unit Vodacom. Others in the consortium include CDC Group and Sumitomo it said in a notice.