Rising oil prices are helping to maintain Saudi Arabia’s foreign asset accumulation according to a Q4 report by the SABB Bank and cited by Arab News. Assets managed by the Saudi Arabian Monetary Agency should reach $266.9bn this year, with a monthly growth rate of $4.3bn. Most of the agency’s assets are in the form of secure G7 bonds.
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US regulators are to put the recently concluded deal between NASDAQ and Borse Dubai, which gives the latter a 20% stake in the New York based exchange, under close scrutiny, reported Reuters. President George W Bush confirmed the deal would be assessed for any ‘national security implications’. Speaker of the House of Representatives, Nancy Pelosi, said the deal ‘doesn’t raise alarm bells.’
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It was a quiet start to the trading week on Saudi Arabia’s Tadawul All Share Index (Tasi) with the exchange dipping by just under 0.1% to close on 7,879.5 points. The day’s main gainer was the National Agriculture Marketing Company which advanced by 6.5% to finish on SR77.8. The Tasi is 0.7% down on its position at the end of 2006.
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NEW YORK (MarketWatch) — U.S. stocks climbed Friday, with the Dow industrials scoring it largest weekly gain since March, as positive earnings from Oracle Corp. and Nike Inc. spurred optimism amid high volume triggered by expiring futures and options contracts.
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ALEXANDRIA, Va. (MarketWatch) — The day was perfect. Not a cloud in the sky, and the historic Potomac River shimmered with a blue that would bring tranquility to the minds of the most overstressed executive.
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