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Saudi Arabia’s stock market closed lower on Sunday after US economic data stoked fears the Federal Reserve will act more aggressively to curb inflation.

Most Gulf Cooperation Council countries, including Qatar, Saudi Arabia and the United Arab Emirates have their currencies pegged to the US dollar and follow the Fed’s policy moves closely, exposing the region to a direct impact from monetary tightening in the world’s largest economy.

The benchmark index in Saudi Arabia dropped 0.5%, dragged down by a 2.1% slide in Retal Urban Development Co and a 0.9% decrease Al Rajhi Bank.

Major Gulf bourses mixed as oil prices fluctuate

On Friday, oil - a catalyst for the Gulf’s financial markets - settled down $2 a barrel, ending the week markedly lower, as traders worried future US interest rate hikes could cut energy demand and evidence mounted fuel supplies are ample.

Outside the Gulf, Egypt’s blue-chip index declined 0.9%, with most of the index’s stocks were in negative territory, including Fawry For Banking Technology and Electronic Payment, which was down 3.1%.

Egyptian International Pharmaceutical Industries Co, which is not part of the index, shed more than 5% after shareholders decided to delay a capital increase through a rights issue.

In Qatar, the index bucked the trend to finish 0.7% higher, led by a 3.4% rise in the Gulf’s biggest lender Qatar National Bank.

Markets in Kuwait and Oman were closed for a holiday

SAUDI ARABIA fell 0.1% to 9,473

QATAR gained 0.7% to 10,716

EGYPT lost 0.9% to 17,327

BAHRAIN added 0.1% to 1,937

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Rebirth Feb 19, 2023 09:43pm
Mind control has hurt them economically (debt ceiling) and led to demilitarization. De-dollarization is a simultaneous consequence because when critical components for radars are diverted to improvised mind control research, air defence systems become useless. What good is the USD if you can’t buy conventional weapons with it? Improvised beta-testing for technology or spontaneous medical research on unsuspecting unapproved test subjects is a kind of research that is an innovation unto itself because it has never happened in all of human history. Even Nazi scientists had a method to their selection of test subjects and purpose behind their research. Their selection process is similar but the purpose is senseless. While this has been discussed for years, how does mind control impact their pharmaceutical industry? Could the chemicals used in mind control have been used for actual medical science instead? Since India and China control the US medical supply chain, do they win another war?
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