DUBAI: Middle Eastern stock markets fell on Tuesday because of the global downturn in equities.
But the region outperformed emerging markets in Asia, where MSCI’s broadest index of Asia-Pacific shares excluding Japan plunged 3.6 percent.
Because of low oil prices and poor liquidity, the Gulf greatly underperformed the uptrend in global emerging markets last year, so fund managers said it may be less prone to profit-taking and have less distance to fall on the way down.
The Saudi stock index fell 1.6 percent with declining stocks outnumbering gainers by 169 to 13. Cement shares continued to pull back after big gains last week, with Jouf Cement down 3.3 percent.
Mediterranean & Gulf Cooperative Insurance and Reinsurance fell a further 5 percent, having lost almost 10 percent on each of the previous two days. The Capital Market Authority has said it might suspend or cancel trade in the stock following the central bank’s decision to prohibit the firm from issuing or renewing policies pending a capital increase.
But the biggest bank, National Commercial Bank, rose 0.7 percent. It reported a fourth-quarter net profit of SR2.56 billion ($683 million), up from SR2.29 billion a year ago. SICO Bahrain had forecast SR2.16 billion.
PetroRabigh added a further 3.1 percent after soaring 9.9 percent on Monday, when it reported a leap in fourth-quarter net profit.
Dubai’s index fell 1.5 percent as losing stocks outnumbered gainers by 32 to three. Abu Dhabi’s index sagged 0.9 percent.
In Qatar, the index lost 2.1 percent. Salam International Investment, the most heavily traded stock, closed 3.2 percent lower, far off its intra-day low. It had plunged by its 10 percent daily limit on Monday, when it posted an annual net loss of 89.9 million riyals ($24.7 million) versus a year-earlier profit of 119.7 million riyals.
Egypt’s index lost 1.6 percent but exchange data showed foreign investors were net buyers of strocks, by a modest margin.
Gulf stocks dragged down by rout across global markets
Gulf stocks dragged down by rout across global markets
Egypt’s non-oil exports rise 17% as trade deficit narrows
RIYADH: Egyptian non-oil exports increased by over 17 percent year on year in 2025, reaching approximately $48.6 billion, new figures showed.
Latest foreign trade indicators released by the country’s Ministry of Investment and Foreign Trade revealed the trade deficit narrowed by 9 percent over the 12 months, reaching around $34.4 billion, according to a statement.
This supports Egypt’s ambition to enter the global top 50 in trade performance, boost exports to $145 billion a year, and narrow the trade deficit.
It also aligns with the country’s efforts to streamline procedures, maximize the benefits of trade agreements, and protect local industry in line with international agreements.
The newly released data said: “Egyptian gold exports also saw a substantial increase, reaching $7.6 billion in 2025 compared to $3.2 billion in 2024, an increase of $4.4 billion.”
It further indicated that the largest markets for Egyptian non-oil exports in 2025 included the UAE, Turkiye, and Saudi Arabia, as well as Italy and the US.
The most important export sectors included building materials at $14.9 billion, chemicals and fertilizers at $9.4 billion, and food industries at $6.8 billion.
In October, Egypt’s credit rating was raised by S&P Global to “B” from “B-,” while Fitch reaffirmed its “B” rating, citing reform progress and macroeconomic stability.
S&P said at the time that the upgrade reflects reforms implemented over the past period by the country, including the liberalization of the foreign exchange regime, which boosted competitiveness and fueled a rebound in growth.
Prime Minister Mostafa Madbouly also said at that time that both rating agencies’ decisions signal confidence in the government’s reform agenda and its expected returns.
In September, Egypt’s Ministry of Planning, Economic Development and International Cooperation reported that the economy expanded 4.4 percent in fiscal year 2024/25, driven by a strong fourth quarter when gross domestic product growth hit a three-year high of 5 percent.
This reflects the impact of the more flexible exchange rate regime adopted since March 2024, which has helped stabilize the balance of payments and restore investor confidence.
