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(Reuters) - Major stock markets in the Gulf ended mixed on Wednesday, with the Abu Dhabi index ending its run of gains, while Saudi Arabia was lifted by its financial shares.
FILE PHOTO: An Investor looks at the screen at the Dubai International Financial Market in Dubai, United Arab Emirates March 9, 2020. REUTERS/Satish Kumar
The Saudi benchmark index rose 0.3%, helped by a 5.7% gain in Banque Saudi Fransi and a 3.3% increase in Dr Sulaiman Al-Habib Medical Services.
However, petrochemical firm Saudi Basic Industries Corp (SABIC) eased 0.3%.
SABIC has selected HSBC and Morgan Stanley to work on the planned initial public offering (IPO) of its specialty chemicals business, Reuters reported, citing two sources familiar with the matter.
COVID-19 repercussions on global economic sectors examined
an hour ago Top officials during the virtual meeting.
Obaid Humaid Al Tayer, UAE Minister of State for Financial Affairs, recently participated in the meeting that was held by Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), with the governors of the Mena region, Afghanistan and Pakistan on the sidelines of the 2021 IMF/World Bank Spring Meetings.
The meeting took place virtually and discussed the latest developments related to the COVID-19 pandemic and its repercussions on various global sectors.
Abdulhamid Saeed, Governor of the Central Bank of the UAE, along with finance ministers, central bank governors and leaders of regional financial institutions of the Mena region, Afghanistan and Pakistan participated in the meeting. During his speech, Al Tayer praised the IMF’s efforts to mitigate the repercussions of the unprecedented global health crisis.
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(MENAFN - Emirates News Agency (WAM))
ABU DHABI, 12th February, 2021 (WAM) The Higher Committee Overseeing the National Strategy on Anti-Money Laundering and Countering the Financing of Terrorism, has convened its first meeting in 2021 via video conference.
The committee members were briefed on the latest developments of the action plan for anti-money laundering and counter-terrorist finance in addition to the future plans developed to achieve the set objectives in the best possible manners.
During the meeting Sultan bin Saeed Al Badi Al Dhaheri, Minister of Justice, and Abdullah bin Touq Al Marri, Cabinet Member and Minister of Economy, reviewed the progress made by their ministries to counter money laundering and financing terrorism.