Page 320 - SALIK ENGLISH PR REPORT NOVEMBER 2024

Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by the
Fed's decisions, as most regional currencies are pegged to the U.S. dollar.

Dubai's main share index (.DFMGI), opens new tab added 0.2%, with blue-chip developer
Emaar Properties (EMAR.DU), opens new tab advancing 1.3%. Toll operator

Salik (SALIK.DU), opens new tab gained 1.1% after reporting a higher third-quarter net
profit.

In Abu Dhabi, the index (.FTFADGI), opens new tab rose 0.4%, with conglomerate
International Holding (IHC.AD), opens new tab climbing 1%.

Advertisement · Scroll to continue
Report this ad

However, Lulu Retail Holdings (LULU.AD), opens new tab - Middle East's biggest
hypermarket chain operator - dropped 2.5% in market debut.

The Qatari index (.QSI), opens new tab was up 0.4%, with petrochemical maker Industries

Qatar (IQCD.QA), opens new tab gaining 1.3%.

Saudi Arabia's benchmark index (.TASI), opens new tab fell 0.9%, weighed down by a 4%
slide in Acwa Power Company (2082.SE), opens new tab, whereas Saudi Telecom Company
(STC) (7010.SE), opens new tab retreated more than 3%.

The video player is currently playing an ad. You can skip the ad in 5 sec with a mouse
or keyboard
00:24‘Football is not politics,’ say Israel soccer fans at France game

The kingdom's sovereign wealth fund PIF has raised 3.86 billion riyals ($1.03 billion) from

selling a 2% stake in telecoms firm STC, PIF said on Thursday, as it seeks to raise funds for
the Gulf country's economic diversification programme.

($1 = 3.7570 riyals)

The Reuters Daily Briefing newsletter provides all the news you need to start your
day. Sign up here.
Reporting by Ateeq Shariff in Bengaluru; Editing by Eileen Soreng

https://www.reuters.com/world/middle-east/most-gulf-markets-gain-early-trade-saudi-falls-2024-
11-14/