The wire
Gulf equity markets posted broad gains on 3 August as most GCC bourses advanced, led by Dubai's 1.4% rise, while Saudi Arabia's TASI continued to outperform regional peers with a 0.9% year-to-date gain. On the regulatory front, DIFC's CEO signalled that financial institutions now prioritise regulatory certainty and market depth over incentive packages when choosing Gulf financial hubs. Emirates NBD's agreement to acquire HSBC Bank Egypt's retail banking business underscored continued cross-border banking consolidation affecting retail customers across the region.
Top stories
Zawya / Reuters
Most GCC Stock Markets Gain as Dubai Posts Biggest Single-Day Rise Since June
Gulf bourses broadly advanced on 3 August, with Dubai up 1.4%, Saudi Arabia up 1.1%, and Qatar gaining 0.8%, supported by resilient bank earnings and non-oil growth.
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Arabian Business
DIFC CEO: Regulatory Certainty Now Outweighs Incentives for Global Finance Firms
DIFC Authority CEO Arif Amiri said global banks and asset managers increasingly prioritise regulatory certainty and long-term scale over tax incentives when selecting Gulf hubs.
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Gulf Business
Emirates NBD to Acquire HSBC Bank Egypt's Retail Banking Business
Emirates NBD has agreed to acquire HSBC Bank Egypt's retail banking operations, expanding its regional footprint across a network of 1,425 branches.
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