MENA - Business Recorder

Middle East

Joblessness among Saudis falls to 8% in fourth quarter

DUBAI: Unemployment in Saudi Arabia among citizens fell to 8% in the fourth quarter of 2022, decreasing from 9.9%...

Published 30 Mar, 2023 06:38pm

Stocks

Most major Gulf bourses poised for weekly gain on firmer oil

Most major Gulf stock markets closed higher on Thursday, in line with global peers and firmer oil prices, amid...

Published 30 Mar, 2023 06:32pm

Middle East

UAE president names son as crown prince, presumed future leader

DUBAI: The United Arab Emirates’ president named his eldest son as crown prince of Abu Dhabi late on Wednesday,...

Published 30 Mar, 2023 02:33pm

Middle East

Israeli strikes near Damascus wound two soldiers: Syria

DAMASCUS: Israel carried out missile strikes near Damascus early Thursday that wounded two soldiers, Syria’s defence...

Published 30 Mar, 2023 12:46pm

Middle East

Lebanon airport expansion sparks transparency concerns

BEIRUT: Civil society organisations and lawmakers in crisis-hit Lebanon have raised concerns over the awarding of a...

Published 30 Mar, 2023 06:35am

Middle East

Netanyahu tells Biden democracy summit that US-Israel alliance ‘unshakable’

WASHINGTON: Israeli Prime Minister Benjamin Netanyahu said Wednesday the alliance with the United States was...

Published 29 Mar, 2023 05:34pm

Inclusive growth and the IMF

Grappling with multiple issues like economic meltdown, climate change and social unrest amid the long lasting impact...

Published 29 Mar, 2023 08:50am

Stocks

Gulf stocks rise as sentiment improves amid easing banking fears

Most Gulf stock indexes rose in early trading on Tuesday, led by the gains in banking shares as worries of banking...

Published 28 Mar, 2023 02:02pm

Asia

Xi hails Middle East thaw in call with Saudi crown prince

BEIJING: Chinese President Xi Jinping lauded what he called the easing of tensions in the Middle East during a call...

Published 28 Mar, 2023 12:57pm

Stocks

Gulf equities open mixed amid rising oil prices

Major Gulf markets opened mixed on Monday, mirroring gains in oil prices as investors pin their hopes on modest...

Published 27 Mar, 2023 03:07pm

Middle East

Saudi, Iranian foreign ministers to meet during Muslim holy month

Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and his Iranian counterpart, Hossein Amirabdollahian, have...

Published 27 Mar, 2023 10:56am

Middle East

Israel’s Netanyahu sacks defence minister who opposed judicial overhaul

OCCUPIED JERUSALEM: Israeli Prime Minister Benjamin Netanyahu on Sunday dismissed Defence Minister Yoav Gallant ...

Published 27 Mar, 2023 07:09am

Middle East

Tehran condemns US strikes on Iran-linked groups

TEHRAN: Tehran has condemned US airstrikes on Iran-linked forces in Syria that reportedly killed 19 people, which...

Published 27 Mar, 2023 06:59am

Africa

Researchers unearth 2,000 ram heads in Egypt temple

CAIRO: Archaeologists in Egypt have discovered more than 2,000 ancient mummified sheep heads left as offerings in a...

Published 26 Mar, 2023 06:30pm

Middle East

'Great misery': Kuwait political crisis drags down economy

DUBAI: A seemingly never-ending political crisis is plunging oil-rich Kuwait’s economy into the mire, affecting...

Updated 26 Mar, 2023 11:33am

Middle East

Death toll from US strikes on pro-Iran installations in Syria rises to 19 fighters, says Syrian war monitor

The death toll in US air strikes on pro-Iran installations in eastern Syria has risen to 19 fighters, the Syrian...

Published 25 Mar, 2023 12:50pm

Stocks

UAE equities extend losses on ex-dividend stocks, bearish mood

Stock markets in the United Arab Emirates extended their losses on Friday, pulled lower by a slew of stocks trading...

Published 24 Mar, 2023 05:49pm

Middle East

‘Sea change’: disruptive Saudi prince shows new pragmatism with Iran

RIYADH: Saudi Crown Prince Mohammed bin Salman once compared Iran’s supreme leader to Hitler, but has now green-lit...

Published 24 Mar, 2023 11:06am

Stocks

Most Gulf markets end lower as oil prices drop; Egypt up

Most Gulf stock markets ended lower on Thursday, as oil prices declined after Federal Reserve Chair Jerome Powell...

Published 23 Mar, 2023 08:52pm

Middle East

Saudi, Iranian foreign ministers to meet to pave way to re-open embassies

DUBAI: Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and his Iranian counterpart, Hossein Amirabdollahian,...

Published 23 Mar, 2023 10:50am

Middle East

Israeli air strike targets Syria’s Aleppo airport vicinity

CAIRO/AMMAN: An Israeli air strike targeted the vicinity of Syria’s Aleppo airport causing some “material damage” to...

Published 22 Mar, 2023 12:54pm

Money & Banking

Bank ABC signs accords with Temenos, NdcTech to change its core banking systems

KARACHI: Bank ABC, one of MENA’s leading international banks, has signed agreements with Temenos and NdcTech to...

Published 22 Mar, 2023 06:24am

Middle East

Saudi announces Ramadan to start Thursday

RIYADH: Saudi Arabia, home of the holiest shrines in Islam in Mecca and Medina, has announced that the fasting month...

Published 21 Mar, 2023 11:45pm

Middle East

Khamenei says Iran not ‘upset’ with Europeans

MASHHAD: Iran’s supreme leader on Tuesday said the Islamic republic is not “upset” with European nations and is...

Published 21 Mar, 2023 09:24pm

Companies

Emirates head says air traffic curbs hurt Indian airlines

NEW DELHI: The head of Emirates said Indian airlines would lose financially as a result of traffic quotas between...

Updated 21 Mar, 2023 02:42pm

Stocks

Most Gulf bourses end lower as oil prices drop; Egypt rises

Most Gulf stock markets ended lower on Monday, as oil prices hit their lowest since 2021 on concerns that the...

Published 20 Mar, 2023 07:41pm

Africa

Nine Chinese nationals killed in Central African Republic

BAMBARI: Nine Chinese mine workers were killed in an attack in the Central African Republic, sparking a rare call on...

Published 20 Mar, 2023 11:32am

Middle East

Assad arrives in UAE

DUBAI: Syrian President Bashar al-Assad met Sunday with Emirati leaders in Abu Dhabi, his second Gulf visit since...

Published 20 Mar, 2023 06:12am

Middle East

Iran’s Raisi ‘welcomes’ invitation by Saudi king: official

TEHRAN: Iranian President Ebrahim Raisi has favourably received an invitation from Saudi Arabia’s King Salman to...

Published 19 Mar, 2023 08:34pm

Middle East

Iraq, Iran sign deal to tighten border security

BAGHDAD: Iraq and Iran signed a border security agreement on Sunday, a move Iraqi officials said aimed primarily at...

Published 19 Mar, 2023 07:23pm

Middle East

Iraq in final stages of talks on $27bn TotalEnergies deal, says minister

Talks between French oil major TotalEnergies and Iraq to resolve sticking points in a long-delayed $27 billion...

Published 19 Mar, 2023 05:34pm

Middle East

Syria’s Assad arrives in UAE in official visit

DUBAI: Syrian President Bashar al Assad arrived in the United Arab Emirates (UAE) on Sunday for an official visit,...

Published 19 Mar, 2023 04:28pm

Africa

Top Egyptian and Turkish diplomats hold talks in Cairo amid improving ties

CAIRO: Turkiye’s Foreign Minister Mevlut Cavusoglu held talks with his Egyptian counterpart in Cairo on Saturday, in...

Published 18 Mar, 2023 02:39pm

Stocks

UAE shares rebound as fears of banking crisis ease

Stock markets in United Arab Emirates rebounded on Friday as fears of a global banking crisis subsided after U.S....

Published 17 Mar, 2023 05:40pm

Middle East

Saudi officials downplay risks to global bank sector

RIYADH: Saudi finance officials on Thursday downplayed risks to the global banking sector after days of market...

Published 16 Mar, 2023 09:02pm

Middle East

Top UAE and Iran security officials meet after Riyadh-Tehran deal

DUBAI: The United Arab Emirates’ national security adviser held talks Thursday in Abu Dhabi with his Iranian...

Published 16 Mar, 2023 07:23pm

Middle East

UAE pledges $3mn to rebuild Palestinian town raided by settlers

DUBAI: The United Arab Emirates has pledged $3 million to support the reconstruction of a Palestinian town in the...

Published 16 Mar, 2023 05:56pm

Middle East

Assad rules out Erdogan talks till Turkiye leaves Syria

MOSCOW: Syrian President Bashar al-Assad has said he will only meet President Recep Tayyip Erdogan if Turkiye...

Published 16 Mar, 2023 04:57pm

Africa

Blinken on rare Niger trip as Western support dwindles in West Africa

ADDIS ABABA: US Secretary of State Antony Blinken headed Thursday on a rare trip to Niger, an outpost of Western...

Published 16 Mar, 2023 01:47pm

Stocks

Most Gulf markets turn south as Credit Suisse woes roil markets

Most stock markets in the Gulf gave up early gains to end lower on Wednesday, tracking a decline in global shares,...

Published 15 Mar, 2023 07:53pm

Europe

Assad visits Moscow for talks on Turkiye-Syria ties

MOSCOW: Russian President Vladimir Putin on Wednesday was hosting Syrian leader Bashar al-Assad for talks as the...

Published 15 Mar, 2023 05:40pm

Energy

Kuwait to cut crude supplies to some Asian refiners as Al Zour refinery ramps up

NEW DELHI: Kuwait has asked some Asian refiners to take less oil under their annual deals as the OPEC producer hopes...

Published 15 Mar, 2023 05:13pm

Middle East

Saudi could invest in Iran ‘very quickly’: finance minister

RIYADH: Saudi Arabia could start making investments in Iran “very quickly” after they agreed to restore diplomatic...

Published 15 Mar, 2023 03:23pm

Africa

Blinken to meet Ethiopia’s Abiy in bid to renew ties

ADDIS ABABA: US Secretary of State Antony Blinken was set to meet Ethiopia’s Prime Minister Abiy Ahmed on Wednesday...

Published 15 Mar, 2023 12:13pm

Middle East

White House praises Saudi-Boeing deal, says it will support US jobs

WASHINGTON: The White House on Tuesday welcomed the “landmark” deal between Saudi Arabia and the Boeing Co, saying...

Published 14 Mar, 2023 08:15pm

Middle East

Saudi Arabia deposit of $5bn enters Turkish central bank accounts

ANKARA: A deposit of $5 billion from the Saudi Fund for Development (SFD) entered the accounts of the Turkish...

Updated 14 Mar, 2023 06:43pm

Africa

IMF sees Senegal 2023 growth lower than expected, lowers 2022 GDP estimate

DAKAR: Growth in Senegal’s economy is expected to accelerate in 2023 but still come in lower than expected, IMF...

Published 14 Mar, 2023 06:11pm

Stocks

Most Gulf markets in red as banking fears rattle markets

Most stock markets in the Gulf ended lower on Monday, extending losses from the previous session as the collapse of...

Published 13 Mar, 2023 09:03pm

Africa

US VP Harris to visit Ghana, Tanzania, Zambia in push to boost Africa links

WASHINGTON: US Vice President Kamala Harris will travel to three African countries this month, a statement said...

Published 13 Mar, 2023 06:39pm

Middle East

After Saudi deal, Iran says hopes to restore Bahrain ties

TEHRAN: Iran said Monday it would welcome restoring ties with Bahrain to end seven years of ruptured relations,...

Published 13 Mar, 2023 05:46pm

Stocks

Major Gulf bourses subdued on SVB jitter; Saudi edges up

Most major Gulf stock markets fell on Monday, shrugging a slight gain in oil prices, as investors were a little...

Published 13 Mar, 2023 02:06pm

Middle East

Saudi unveils new airline to compete with Gulf rivals

RIYADH: Saudi Arabia announced Sunday the creation of a new national airline, part of a plan to turn Riyadh into a...

Updated 13 Mar, 2023 06:29am

Middle East

Iran’s behaviour will be monitored in coming months: Saudi analysts

RIYADH: Saudi Arabia will watch Iran’s behaviour during the two-month window agreed upon to restore relations,...

Published 13 Mar, 2023 06:15am

Middle East

Israeli army shoots dead three Palestinians in West Bank

NABLUS: Israeli soldiers shot dead three Palestinian gunmen in a pre-dawn firefight in the occupied West Bank,...

Published 13 Mar, 2023 06:15am

Middle East

UAE withdraws bid for 2026 World Bank-IMF meetings in favour of Qatar

DOHA: The United Arab Emirates (UAE) has withdrawn its bid to host the 2026 World Bank and International Monetary...

Published 12 Mar, 2023 08:24pm

Middle East

White House official denies Iranian prisoner swap deal reached

WILMINGTON: A White House official on Sunday denied Iranian statements that Washington and Tehran had reached an...

Published 12 Mar, 2023 08:03pm

Middle East

Iran says deal reached with US for prisoner swap

DUBAI: Iran and the United States have reached an agreement to exchange prisoners, Iranian Foreign Minister Hossein...

Published 12 Mar, 2023 07:16pm

Middle East

Israeli army shoots dead three Palestinian gunmen in occupied West Bank

NABLUS: Israeli soldiers shot dead three Palestinian gunmen after they fired at troops in the occupied northern...

Published 12 Mar, 2023 12:41pm

Middle East

Tens of thousands of Israelis rally against judicial overhaul

TEL AVIV: Tens of thousands of Israelis demonstrated across the country Saturday in the 10th consecutive week of...

Published 12 Mar, 2023 12:20pm

Stocks

United Arab Emirates markets mirror losses in crude prices

Stock markets in United Arab Emirates closed lower for a fourth straight session on Friday, mirroring losses in...

Published 10 Mar, 2023 05:19pm

Africa

UN Security Council team arrives in DR Congo

KINSHASA: A United Nations Security Council delegation arrived in DR Congo on Thursday for a three-day visit, the...

Published 10 Mar, 2023 11:31am

Middle East

Three Palestinians killed by Israel undercover unit

JABA: Three Palestinians were shot dead by Israeli border police in the occupied West Bank on Thursday, the...

Updated 09 Mar, 2023 02:57pm

Middle East

Syria child quake victims, flown to UAE, unaware of heartbreak to come

ABU DHABI: Cradling a pink stuffed animal as she sleeps in a United Arab Emirates hospital, a nine-year-old Syrian...

Published 09 Mar, 2023 12:07pm

Stocks

Gulf stocks end mixed ahead of Powell’s speech; Egypt down

Gulf stock markets ended mixed on Tuesday, as investors awaited a speech from Federal Reserve Chair Jerome Powell...

Published 07 Mar, 2023 06:41pm

Middle East

Pentagon chief makes unannounced trip to Iraq as 20-year anniversary of invasion nears

BAGHDAD: US Defence Secretary Lloyd Austin made an unannounced trip to Iraq on Tuesday in a visit aimed at showing...

Published 07 Mar, 2023 01:46pm

Stocks

Emaar Dev boosts Dubai as Gulf markets rise; Egypt extends losses

Most Gulf stock markets closed higher on Monday, shrugging of a decline in oil prices, with Dubai leading the gains...

Published 06 Mar, 2023 06:50pm

Stocks

Qatar leads most Gulf bourses higher; Saudi flat

Most Gulf stock markets rose in early trade on Monday, with the Qatari bourse leading the gains, while the Saudi...

Published 06 Mar, 2023 03:15pm

Energy

Saudi Arabia raises Arab Light crude price to Asia for 2nd month in April

SINGAPORE: Top crude exporter Saudi Arabia raised prices for the flagship Arab light crude it sells to Asia for a...

Published 06 Mar, 2023 10:47am

Middle East

Top Al-Qaeda figure killed in Yemen air strike: sources

DUBAI: A senior Al-Qaeda figure was killed in a suspected US air strike in war-torn Yemen, security and local...

Updated 05 Mar, 2023 08:58pm

Scientists reveal hidden corridor in Great Pyramid of Giza

CAIRO: A hidden corridor nine metres (30 feet) long has been discovered close to the main entrance of the...

Published 05 Mar, 2023 08:05pm

Middle East

US defence secretary lands in Jordan at start of Middle East tour

AMMAN: US Defence Secretary Lloyd Austin arrived in Jordan on Sunday at the start of a Middle East tour that will...

Published 05 Mar, 2023 07:46pm

Africa

Curfews imposed to help Burkina Faso fight militants

OUAGADOUGOU: Burkina Faso has put the North and parts of the Centre East region under curfew to aid the fight...

Published 05 Mar, 2023 05:49pm

Middle East

Turkey, United Arab Emirates sign trade agreement

ABU DHABI/ISTANBUL: The United Arab Emirates and Turkey signed an agreement in Abu Dhabi on Friday which aims to...

Updated 03 Mar, 2023 09:13pm

Middle East

Israeli forces kill teen in West Bank: Palestinian ministry

RAMALLAH: Israeli troops shot dead a 15-year-old Palestinian and critically wounded another child in the occupied...

Published 03 Mar, 2023 12:05pm

Arts

Art Dubai 2023 opens with focus on the 'Global South'

Art Dubai is back and opened for previews on Wednesday, March 1. It will open to the public on Friday, March 3, and...

Updated 02 Mar, 2023 09:12pm

Stocks

Most Gulf stocks extend rebound; Dubai falls on oil, rate hike worries

Most Gulf equities extended their rebound on Thursday, with Saudi Arabia outperforming peers in the region, while...

Published 02 Mar, 2023 03:16pm

Middle East

UN chief on ‘solidarity’ visit to Iraq

BAGHDAD: UN Secretary-General Antonio Guterres was in Iraq Wednesday for talks with senior officials in a show of...

Published 01 Mar, 2023 12:52pm

Africa

Nigeria’s Tinubu declared president-elect after disputed election

ABUJA: Nigeria’s electoral commission on Wednesday declared ruling party candidate Bola Tinubu president-elect after...

Published 01 Mar, 2023 11:47am

Arts

Pakistan's Canvas Gallery to showcase at 16th edition of Art Dubai

Art Dubai will take place at Madinat Jumeirah, Dubai from March 3 to 5

Updated 27 Feb, 2023 09:51pm

Stocks

Most Gulf markets open lower on weak oil prices, rate-hike bets

Most major Gulf markets opened lower on Monday, tracking Asian peers and weaker oil prices, as fears of further rate...

Published 27 Feb, 2023 03:07pm

Middle East

UN appeals for $4.3bn to help millions in war-torn Yemen

GENEVA: The United Nations said it needed $4.3 billion this year to help millions of people in war-ravaged Yemen,...

Published 27 Feb, 2023 10:53am

Gainers
Losers
Leaders

Stock	Price
Chakwal Spinning / Mar 30 Chakwal Spinning Mills Limited(CWSM)	1.36 ▲ 0.20 (17.24%)
First IBL Mod. / Mar 30 First IBL Modaraba(FIBLM)	5.90 ▲ 0.60 (11.32%)
First Pak Mod. / Mar 30 First Pak Modaraba(PAKMI)	1.34 ▲ 0.13 (10.74%)
Dewan Sugar / Mar 30 Dewan Sugar Mills Limited(DWSM)	2.57 ▲ 0.23 (9.83%)
Unicap Modaraba / Mar 30 Unicap Modaraba(UCAPM)	1.77 ▲ 0.15 (9.26%)
Premier Insurance / Mar 30 Premier Insurance Limited(PINL)	7.50 ▲ 0.63 (9.17%)
B.R.R.Guardian / Mar 30 B.R.R. Guardian Modaraba(BRR)	12.04 ▲ 0.99 (8.96%)
Ismail Ind. / Mar 30 Ismail Industries Limited(ISIL)	518.26 ▲ 36.15 (7.50%)
Khyber Tex. / Mar 30 Khyber Textile Mills Limited(KHYT)	397.42 ▲ 27.72 (7.50%)
Suraj Cotton / Mar 30 Suraj Cotton Mills Limited(SURC)	102.53 ▲ 7.15 (7.50%)

Stock	Price
First Prudential Mod. / Mar 30 First Prudential Modaraba(PMI)	1.40 ▼ -0.24 (-14.63%)
Trust Mod. / Mar 30 Trust Modaraba(TRSM)	1.30 ▼ -0.20 (-13.33%)
Sapphire Fibres / Mar 30 Sapphire Fibres Limited(SFL)	1018 ▼ -82.00 (-7.45%)
Sardar Chemical / Mar 30 Sardar Chemical Industries Limited(SARC)	32 ▼ -2.55 (-7.38%)
Gadoon Textile / Mar 30 Gadoon Textile Mills Limited(GADT)	192.50 ▼ -15.30 (-7.36%)
Philip Morris Pak. / Mar 30 Philip Morris (Pakistan) Limited(PMPK)	461 ▼ -36.43 (-7.32%)
Pakistan Services / Mar 30 Pakistan Services Limited(PSEL)	876 ▼ -69.10 (-7.31%)
Shield Corp. / Mar 30 Shield Corporation Limited(SCL)	282 ▼ -22.00 (-7.24%)
Bal. Wheel / Mar 30 Baluchistan Wheels Limited(BWHL)	68.42 ▼ -5.18 (-7.04%)
JDW Sugar / Mar 30 JDW Sugar Mills Limited(JDWS)	356 ▼ -26.79 (-7.00%)

Stock	Volume
Telecard Limited / Mar 30 Telecard Limited(TELE)	12,447,500 ▼ -0.21
WorldCall Telecom / Mar 30 Worldcall Telecom Limited(WTL)	9,398,662 ▲ 0.01
Pakistan Alumin / Mar 30 Pakistan Aluminium Beverage Cans Limited(PABC)	7,638,000 ▲ 0.23
Pak Elektron / Mar 30 Pak Elektron Limited(PAEL)	6,136,500 ▼ -0.05
Pak Int.Bulk / Mar 30 Pakistan International Bulk Terminal(PIBTL)	6,018,500 ▲ 0.08
Engro Corp / Mar 30 Engro Corporation Limited(ENGRO)	5,429,492 ▼ -0.02
Nishat Mills Ltd / Mar 30 Nishat Mills Limited(NML)	4,517,879 ▲ 0.46
Shifa Int.Hosp / Mar 30 Shifa International Hospitals Limited(SHFA)	4,299,000 ▼ -1.99
Agha Steel Ind. / Mar 30 Agha Steel Ind.Ltd(AGHA)	3,645,000 ▲ 0.36
K-Electric Ltd. / Mar 30 K-Electric Limited(KEL)	3,416,092 ▲ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Mar 30	285.65
USD PKR Interbank Buying / Mar 30	283.65
USD to Japanese Yen / Mar 30	132.47
USD to Swiss Franc / Mar 30	0.92
Pound Sterling to USD / Mar 30	1.23
Euro to USD / Mar 30	1.08
UK LIBOR % / Mar 29	4.81

Stock	Volume
S&P 500 / Mar 29	4027.81
India Sensex / Mar 29	57960.09
Nasdaq / Mar 29	11926.24
Dow Jones / Mar 29	32717.60
Tokyo Nikkei / Mar 30	27782.93
Hang Seng / Mar 30	20309.13
FTSE 100 / Mar 30	7578.80
Germany DAX 30 / Mar 30	15430.39
France CAC40 / Mar 30	7235.99

Item	Value
Karachi Cotton PKR/37.32 KG / Mar 29	18935
Gold 10 Grams PKR / Mar 29	176268
Crude Oil USD/Barrel / Mar 30	72.81
Gold Spot USD/Ounce / Mar 30	1963.79
Cotton US¢/pound / Mar 30	82.34

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