{
  "id": 15895831,
  "title": "Most Gulf bourses slip as Iran-US diplomacy hits a standstill",
  "url": "https://urgent.news/2026/10/21/most-gulf-bourses-slip-as-iran-us-diplomacy-hits-a-standstill",
  "topic": "world",
  "section": "World",
  "published": "2026-10-21T13:37:21.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40445283/most-gulf-bourses-slip-as-iran-us-diplomacy-hits-a-standstill"
  },
  "original_language": "en",
  "account": "Equity markets throughout the Gulf experienced declines on Wednesday as Iran announced it would not engage in talks with the US to resolve their ongoing conflict. Foreign Minister Abbas Araqchi, in an article published in the Financial Times, indicated Iran's willingness for diplomacy but emphasized the country's determination to defend itself. Pakistan's army chief, Field Marshal Asim Munir, who was in Tehran for mediation efforts, received Iran's position, according to Iranian semi-official Nournews.\n\nSaudi Arabia's benchmark index dropped by 0.3%, with Alinma Bank experiencing a 5% decline following a drop in third-quarter profit. Meanwhile, Saudi Aramco saw a 0.4% increase. In response to the attacks on Saudi energy, airport, and military sites, including an Aramco facility in Yanbu, the Shaybah oilfield, and airports in Riyadh and Abha, the Houthis claimed responsibility. Iran has yet to receive any reply from Saudi Arabia or Yemen's Houthis to its proposal for mediating talks to end the fighting, as Foreign Minister Araqchi stated in a televised interview.\n\nDubai's primary share index rose by 0.4%, propelled by top lender Emirates NBD, which gained 1.3%. The Abu Dhabi index, however, fell by 0.6%. According to shiptracker Kpler, at least 18 vessels were attacked within the past two weeks. LSEG analysts suggested that Iran is targeting tankers not only in the Strait of Hormuz but also in the Gulf of Oman, potentially disrupting Gulf crude loadings and ship-to-ship transfers.\n\nOn the brighter side, Qatar's index added 0.5%, breaking a five-session losing streak. In the broader region, Egypt's blue-chip index surged by 1.5%, with most of its constituents performing well, including Commercial International Bank, which rose by 2.5%. Talaat Moustafa Group Holding (TMGH) also experienced a significant jump of 6%. The deal between Egypt and TMGH, worth 11 trillion Egyptian pounds ($202 billion), aims to develop, build, and operate four major mixed-use real-estate projects, as announced by the presidency.\n\nSaudi Arabia's index fell by 0.3% to 9,881, while Abu Dhabi declined by 0.5% to 8,643, and Dubai rose by 0.4% to 5,860. Qatar's index gained 0.5% to 8,643, while Egypt advanced by 1.5% to 52,855, Bahrain eased by 0.1% to 1,858, Oman dropped by 1.5% to 7,440, and Kuwait declined by 0.7% to 8,766.",
  "summary": "Most Gulf equities closed down on Wednesday, after Iran said there would be no talks with the US to end their conflict unless its demands are met. Foreign Minister Abbas Araqchi in an article published in the Financial Times on Wednesday said Iran is open to diplomacy but will defend itself. Iran told Pakistan’s army chief, Field Marshal Asim Munir, who was in Tehran as part of the mediation…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Business Recorder",
        "title": "Gulf bourses subdued as regional worries weigh",
        "url": "https://urgent.news/2026/10/19/gulf-bourses-subdued-as-regional-worries-weigh",
        "published": "2026-10-19T13:27:21.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}