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IMF hails progress in implementing Egyptian economic reform program       NBE, Banque Misr to sell stakes in New Ismailia Co       Release from Alexandria Flour Mills (AFMC.CA) Concerning the Semi-Annual Disclosure Form       Marseille Almasreia Alkhalegeya For Holding Investment (MAAL.CA) - Board of Directors Decisions (NILEX)       Bahrain got first funds from Gulf aid last year - c. bank governor       Saudi Arabia sells 7.095 bn riyals sukuk in monthly issue       Egypt postpones $6.6bn repayment to Saudi Arabia       World Bank affirms confidence in Egypts economic reform measures       NBE to increases SMEs portfolio to LE70bn in 2019       Egypt takes new steps to boost ties with Europe       European investments reach $15 bn in Egyptian market       8 investment entities get 159 feddans in Egypts new capital       Egypts Elsewedy to launch $112m projects in New Administrative Capital       Alexandria Flour Mills BoD okays 37.6% profit decline       UAEs Dana Gas plans $5bn investments in Egypt - CEO       Middle & West Delta ratifies profits of LE86 ending Dec 2018       AMOC reports profits LE278m ending Dec 2018       El Batal unveils launching two housing projects in New Cairo, 6th Oct. City       EFG Hermes Securitization The First Issue Tranche C Nov 2023 (EGHRSEC01C=CA) Declares Bond Dividends for Coupon No. (3)       EFG Hermes Securitization The First Issue Tranche A Dec 2019 (EGHRSEC01A=CA) Declares Bond Dividends for Coupon No. (3)      
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Oil lifts Saudi to 5-month high, most Gulf markets up



Saudi Arabias stock market climbed to a five month high on Wednesday, while most major Gulf markets also gained as oil prices rose 2 percent on optimism over U.S.-Chinese trade talks.
Both crude price benchmarks added to Tuesdays gains and have now been on the rise for eight straight days - their longest rally since June 2017.
Al Ahsa Development gained 2 percent after signing an agreement to buy a 25 percent stake in Twareat Medical Center for 15 million riyals ($4 million).
Qatars index was up 0.7 percent, lifted by gains in Qatar Islamic Bank and Industries Qatar, which rose 1.8 percent and 1.2 percent, respectively.
The Egyptian blue-chip index edged down 0.3 percent, pressured by its biggest listed lender, Commercial International Bank, which slid 2.1 percent. Commercial International has the biggest weighting in the index.
The Dubai index climbed 0.4 percent, aided by property shares. The emirates largest listed developer, Emaar Properties, added 2 percent and Dubai Investments rose 0.8 percent.
Dubais weak real estate market was a big drag for property stocks last year. The downturn is forcing construction and engineering firms to cut jobs and halt expansion plans, raising risks for the wider economy.
Abu Dhabis index was up 0.5 percent, with the regions largest bank, First Abu Dhabi Bank, rising 0.8 percent, and Emirates Telecommunications edging up 0.4 percent.
SAUDI ARABIA The index rose 1.1 pct to 8,147 points
DUBAI The index gained 0.4 pct to 2,540 points
QATAR The index was up 0.7 pct at 10,535 points
ABU DHABI The index added 0.5 pct to 4,953 points
EGYPT The index slid 0.3 pct to 13,366 points
KUWAIT The index lost 0.3 pct to 5,387 points
OMAN The index was flat at 4,311 points
BAHRAIN The index gained 0.5 pct to 1,338 points




Time Added: 2019-01-10 09:15:58
Source: arabfinance
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