Mideast Stocks: Most Middle Eastern stocks retreat on downbeat IMF forecasts – ZAWYA

Mideast Stocks: Most Middle Eastern stocks retreat on downbeat IMF forecasts – ZAWYA

Mideast Stocks: Most Middle Eastern stocks retreat on downbeat IMF forecasts | ZAWYA MENA Edition HomeMarketsEquitiesArticleMideast Stocks: Most Middle Eastern stocks retreat on downbeat IMF forecasts Zain Saudi Arabia slides as Q2 profit shrinks    An investor uses his mobile phone at the Dubai Financial Market. Most Middle Eastern stock markets ended lower on Tuesday, with Kuwait hardest hit, after the International Monetary Fund cut its economic forecasts for the region due to lower oil prices and the coronavirus crisis.The COVID-19 pandemic has hit sectors such as tourism and trade, while low oil prices and crude production cuts have strained the finances of regional oil exporters and impacted remittances.Saudi Arabia's benchmark index eased 0.4%, weighed down by a 2.6% slide in the kingdom's largest lender National Commercial Bank and a 0.7% drop in Al Rajhi Bank .The COVID-19 pandemic has hit sectors such as tourism and trade, while low oil prices and crude production cuts have strained the finances of regional oil exporters and impacted remittances.Most Middle Eastern stock markets ended lower on Tuesday, with Kuwait hardest hit, after the International Monetary Fund cut its economic forecasts for the region due to lower oil prices and the coronavirus crisis.Saudi Arabia's