Israel’s benchmark stock index advanced for a seventh day, tracking gains in U.S. shares last week, as investors weighed lower borrowing costs and Iran’s nuclear accord with world powers. Saudi shares rose.
Dubai’s benchmark stock index rose to the highest in almost two weeks on bets the emirate will win the right to host the World Expo 2020. Shares in other Gulf markets climbed as Iran signed a nuclear accord.
A nuclear deal between Iran and countries including the U.S. and Russia could prompt sovereign upgrades of Persian Gulf Arab nations even as it may cut their revenue by causing oil prices to fall, according to IHS Inc.
Qatar hired local and international consultants, including experts from Texas A&M University, to draft food-supply contingency plans in the event of a crisis, such as a disruption to regional trade routes.
It would be relatively easy for Iran to make good on its threat to close the strategic waterway that carries oil tankers from the Persian Gulf -- and it would probably hurt itself most by taking such action.
The United Arab Emirates, OPEC’s fourth-largest crude producer, is investing in nuclear power, renewable energy and liquefied natural gas terminals to reduce its reliance on oil, according to its energy minister.