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Middle East Shares Rise, Abu Dhabi Commercial Bank In Merger Talks

MidEast stocks advanced, with Abu Dhabi rising after Abu Dhabi Commercial Bank (ADCB) said it was in early merger talks with Union National Bank ( UNB ) and Al Hilal Bank.

In other company news, Saudi Real Estate Co said it had signed a framework agreement with the Presidency of State Security, which combines counterterrorism and domestic intelligence services.

National Bank of Kuwait (NBK) and Agility rose on expectations for inflows into those stocks when the country begins to join the FTSE Russel emerging markets index on Sept. 24.

Other Middle East markets barely edged higher as investors continued to remain concerned trade disputes involving the United States could hurt the global economy.

Saudi Arabia's main index firmed 0.3% to 7,968 points, Dubai gained 0.3% to 2,837 points, Abu Dhabi rose 0.9% to 4,984 points, Qatar edged up 0.2% to 9,820 points, Kuwait jumped 1% to 5,279 points, Bahraiin added 0.3% to 1,338 points, and Oman was flat at 4,429 points.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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