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Gulf markets plunge on U.S.-Iran tensions, Aramco hits lowest since IPO

Gulf stocks fell sharply in late afternoon trade on Sunday, with Kuwaiti and Saudi stocks leading losses. Shares of oil giant Aramco , which listed last month in a record initial public offering (IPO), fell 1.7% to hit the lowest level since it started trading on Dec 11. Iranian military commander Qassem Soleimani, the architect of Tehran’s overseas military operations was killed on Friday in a U.S. drone strike on his convoy at Baghdad airport. …read more […]

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Gulf markets plunge on U.S.-Iran tensions, Aramco hits lowest since IPO

Gulf stocks fell sharply in late afternoon trade on Sunday, with Kuwaiti and Saudi stocks leading losses. Shares of oil giant Aramco , which listed last month in a record initial public offering (IPO), fell 1.7% to hit the lowest level since it started trading on Dec 11. Iranian military commander Qassem Soleimani, the architect of Tehran’s overseas military operations was killed on Friday in a U.S. drone strike on his convoy at Baghdad airport. …read more […]

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Gulf markets plunge on U.S.-Iran tensions, Kuwait leads fall

Gulf stocks fell sharply in early trade on Sunday, led by Kuwaiti shares, on escalating tensions between the United States and Iran. Iranian military commander Qassem Soleimani, the architect of Tehran’s overseas clandestine and military operations was killed on Friday in a U.S. drone strike on his convoy at Baghdad airport. The killing is seen by Tehran as an act of war that risks regional conflagration. …read more […]

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Will Oil Become a Weapon of Choice for Iran?

(Bloomberg Opinion) — Events in 2019 served as a reminder for just how vulnerable the world’s oil supply is, and Iran was usually blamed as the culprit for attacks on ships, pipelines and processing plants in the Middle East. But the knock-on effects blew over quickly in a world that appeared oblivious to the geopolitics of oil. Now in the wake of the U.S. killing of Qassem Soleimani, the Iranian general who led the Revolutionary Guards’ Quds force, the big question hanging over the market is whether Iran will target oil in its response. There is no particular reason to …read more […]

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Gulf Stocks Drop as U.S. Strike on Iranian General Lifts Tension

(Bloomberg) — Stocks in the Gulf went into retreat as the U.S. killing of Iran’s most prominent general reverberated across the region.Kuwait’s benchmark index dropped more than 4% just minutes after trading began, while there were losses in Abu Dhabi, Dubai and Oman.Geopolitical tension spiked after Iranian General Qassem Soleimani was killed in Iraq last week in a U.S. drone attack. Iranian President Hassan Rouhani told Soleimani’s relatives that the U.S. “won’t see the effects of their mistake today, but they will witness it over many many years to come.” President Donald Trump said late Saturday the U.S. has identified …read more […]

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Economic Calendar – Top 5 Things to Watch This Week

Investing.com – The first full trading week of 2020 looks likely to be action packed with geopolitics firmly back on top of the market agenda after a spike in oil prices in the wake of the U.S. killing of a top Iranian commander. Investors will also be watching out for the first U.S. jobs release of the decade and fresh details on the phase 1 U.S.-China trade deal. Here’s what you need to know to start your week. …read more […]

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Samsung Elec says will unveil 'innovative devices' on February 11

Samsung Electronics said on Sunday that it will introduce new, innovative devices in San Francisco on Feb. 11, with the electronics giant widely expected to unveil its new foldable phone and a new version of its flagship S model. “Samsung Electronics will unveil new, innovative devices that will shape the next decade of mobile experiences,” the South Korean firm said at an invitation letter. In a teaser image, Samsung hinted at two phones – one shaped like a square and another with a rectangular form. …read more […]

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Daimler recalls 744,000 U.S. Mercedes-Benz vehicles for faulty sunroofs

German automaker Daimler AG said on Saturday it will recall 744,000 Mercedes-Benz vehicles in the United States from the 2001 through 2011 model years because the sunroof glass panel could detach and pose a hazard. The large recall covers more two dozen vehicles from C-Class, CLK-Class, CLS-Class and E-Class model lines. The automaker said the bonding between the glass panel and the sliding room frame might not meet specifications and could lead to sunroofs detaching. …read more […]