Gulf Exchanges Close Higher

Most stock markets in the Gulf region closed higher today, Tuesday, with the Dubai index reaching its highest level in nearly eight years. The main index in Saudi Arabia rose by 0.6% to 11,619 points, driven by a 3.4% increase in shares of "Saudi National Bank." Additionally, shares of Saudi Airlines Catering jumped by 9.8% after the company announced a contract with the Red Sea International Company worth approximately 6.3 billion riyals, or 1.7 billion dollars. The main index in Dubai increased by 1.4% to 3,931 points, achieving its highest level in nearly eight years supported by a 3.9% surge in shares of Emirates NBD. Furthermore, shares of Emaar Properties rose by 0.2% to their highest levels since 2018.