Gulf bourses must link operations: Oman


“Snags – political, legal and technical – are preventing the Gulf bourses to be linked together in an electronic network,” Sheikh Abdullah Al-Salmi, executive vice president of the Capital Market Authority, said.
“Linking the regional bourses will boost the GCC economy, inspire greater investor confidence, improve share volumes and liquidity,” he said on the sidelines of a regional corporate governance conference.

The GCC is an economic bloc grouping six oil-producing countries Oman, United Arab Emirates, Qatar, Bahrain, Kuwait and Saudi Arabia.

At the Saud Stock Exchange on Tuesday, the Tadawul All-Share Index jumped over 6,100 points in the beginning, but eventually traded sideways and closed 1.38 percent higher at 6,063.12 points.

Islamic insurance operator Saudi British Bank (SABB) Takaful again led the list of the top gainers, adding almost 10 percent to its value. The share is trading 6.4 times higher than six months before.

Allied Cooperative Insurance plummeted 9.94 percent on profit booking.

Leave a Reply

Your email address will not be published. Required fields are marked *