Major Gulf stock markets were little changed in early trade on Sunday, though the Saudi index was up 0.4% to extend gains from the previous four sessions.
In a blow for the Saudi economy the kingdom has restricted the annual haj pilgrimage to its own citizens and residents for the second year running in response to the COVID-19 pandemic, the Saudi Press Agency reported on Saturday. read more
It also set a maximum of 60,000 participants, a fraction of the 2.5 million that would visit the holiest sites of Islam in Mecca and Medina before the pandemic for the week-long haj and the year-round umrah pilgrimage, which together earned the kingdom about $12 billion a year, official data shows.
From June 15 Abu Dhabi, the United Arab Emirates’ (UAE) second-most populous emirate, will limit entry to shopping centres, restaurants, cafes and other public places to those who have been vaccinated against COVID-19 or recently tested negative for the coronavirus. read more
Daily coronavirus cases in the UAE, a federation of seven emirates, have risen over the past three weeks.
Dubai’s main share index (.DFMGI) traded flat as gains in property shares were offset by declines in financial stocks.
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