This is a thread specifically for the war, not a general megathread (use the pinned /c/genzedong thread for that).
Please keep related news in this thread rather than making separate posts. Remember to include sources and avoid spreading rumours.
❗️UAE stocks rise as oil surge fuels gains amid West Asia supply fears
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UAE stock markets ended higher on Friday, with Dubai leading the region, as a steep weekly increase in oil prices provided support amid growing concerns that attacks on major West Asian shipping routes could lead to prolonged supply disruptions.
Dubai’s main index rose 0.6% after two consecutive sessions of losses, led by a 4.2% jump in top lender Emirates NBD Bank, while utility company Emirates Central Cooling Systems Corporation gained 1.9%.
National Central Cooling fell 2.1% after announcing Yousif al-Hammadi as its new chief executive.
Abu Dhabi’s benchmark index edged up 0.03%, extending gains for a fourth consecutive session. The index was supported by a 3.6% rise in IHC-owned investment firm Two Point Zero Group.
State-owned energy shipping company Adnoc Logistics & Services advanced 2.9%, while energy infrastructure developer NMDC Group gained 3.5%.
The gains were capped by a 5% decline in chemical producer Fertiglobe and a 1.5% drop in the emirate’s largest lender, First Abu Dhabi Bank.
For the week, Abu Dhabi’s index gained 1.4%, while Dubai’s index rose 1%, according to LSEG data.
https://t.me/thecradlemedia/67785
I genuinely wish Iran anhilated every oil refinery in the UAE. That parasitic monarchy is right behind Israel when it comes to the worst actors in the region.