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Pak rupee rally continues

Pak rupee rally continues
khaleejtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaleejtimes.com Daily Mail and Mail on Sunday newspapers.

Higher yields mean good tidings for UAE insurers, making Salama an interesting play

Stand to gain One UAE company that can benefit from rising yields is Islamic Arab Insurance Company (Salama), which announced a good set of 2020 earnings. One of the oldest insurers, it saw its gross written premiums grow 5.5 per cent to Dh1.17 billion, while there was significant growth in net profit - by 162 per cent - to Dh157.04 million. Even after excluding the one-off net profit of Dh67 million from the sale of a stake in Salama Cooperative Insurance Co. in Saudi Arabia, the underlying net profit expanded by more than 50 per cent to Dh90 million compared to Dh59.8 million in 2019. 

Gulf Equity Markets Rise, Shrugging Off Lower Crude: Inside EM

Gulf Equity Markets Rise, Shrugging Off Lower Crude: Inside EM Bloomberg 3/14/2021 Filipe Pacheco © Bloomberg Attendees stand on an escalator as they move through the interior of the King Abdulaziz Center for World Culture during a tour of the project in Dhahran, Saudi Arabia, on Friday, Nov. 25, 2016. When completed, the project designed for the Saudi Arabian Oil Co. (Aramco) will contain diverse cultural facilities, including an auditorium, cinema, library, exhibition hall, museum and archive. (Bloomberg) Dubai’s equities index led gains in the Gulf Sunday as traders focus on the long-term prospect for oil, shrugging off the first week of decline for Brent in two months.

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