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Air Arabia, Etisalat, Tabuk Agricultural: Gulf Equity Preview

June 23 (Bloomberg) -- The following companies may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.

Dubai’s DFM General Index retreated 1.4 percent, the most since June 6, to 1,542.07 and Abu Dhabi’s gauge dropped 0.4 percent. Oman’s benchmark slid 0.7 percent and Saudi Arabia’s Tadawul All Share Index decreased 1.4 percent.

Air Arabia (AIRARABI UH): The United Arab Emirates’ biggest low-cost carrier started flying from its Alexandria hub to Amman and will service the Jordanian capital four times a week. The shares lost 1.6 percent to 86.5 fils.

Bank Muscat SAOG (BKMB OM): Oman’s biggest bank by assets was raised to “overweight” from “neutral” and assigned a share-price estimate of 1.08 rials at Taib Bank. The shares fell 0.3 percent to 0.813 rial.

Emirates Telecommunications Corp. (ETISALAT UH): The U.A.E. phone company known as Etisalat signed a partnership agreement with Korea Telecom for “new age” telecom solutions. The shares were unchanged at 10.30 dirhams.

Tabuk Agricultural Development Co. (TAACO AB): The Saudi fruit and vegetable exporter signed a memorandum of understanding to invest in agricultural projects in Asia. The shares were unchanged at 21.4 riyals.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net.

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