Home | News    Thursday 13 July 2017

Sudanese companies’ shares fall sharply on UAE stock markets after extension of U.S. sanctions

separation
increase
decrease
separation
separation

July 12, 2107 (KHARTOUM) - Share price of Sudanese companies listed on the UAE capital markets fell sharply during trading on Wednesday after the U.S. President Donald Trump delayed the lifting of trade and financial sanctions imposed on Sudan.

JPEG - 35.6 kb
An engineer stands in front of a new electronic trading board at the Khartoum stock exchange April 25, 2011 (REUTERS/Mohamed Nureldin Abdallah)

On Tuesday, Trump delayed the lift of economic sanctions on Sudan for a three-month period until next October saying more time is needed to appreciate the permanent revocation of the 20-year embargo.

According to the Turkish Anadolu Agency, the share price of the Sudanese, Al-Salam Bank listed on Dubai Financial Market (DFM) has declined by 3,85% topping the list of the losing stocks.

Also, the share price of the Sudatel Telecom Group (STG) listed on Abu Dhabi Securities Exchange (A.D.X.) has dropped by 3,64%.

Last January, former President Barack Obama eased the 19-year economic and trade sanctions on Sudan allowing resumption of trade exchange and banking transactions between the two countries.

On Wednesday, the U.S. State Department Spokesperson Heather Nauert said his government is committed to the lift of sanctions within three months “if the Government of Sudan (GOS) sustains the positive actions that gave rise to” the initial decision taken by the former President Barack Obama.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.


s
Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Turkey and Africa are building a solid partnership 2018-05-24 22:55:24 by Turkish Foreign Minister Mevlüt Çavu?o?lu As Turkey marks the annual Africa Day, I take the opportunity to celebrate Africa’s achievements and rejoice in our developing partnership. Africa’s (...)

Sudan’s Bashir is playing a dangerous game 2018-05-23 05:09:04 The attempt of the Sudanese president to engage with rival regional interests in a bid to stay in power might fail. By Ahmed H Adam Sudan's political crisis is sliding into a dangerous phase. (...)

Salva Kiir’s cunning strategy 2018-05-19 07:40:06 By Duop Chak Wuol Salva Kiir likes to preach democracy to confuse people, looks for ways to legitimize his atrocious regime, uses deception to promote his despotism, and calculatingly waits for (...)


MORE






Latest Press Releases


The Suspension of Hurriyat Online Newspaper 2018-04-29 07:04:37 Sudan Democracy First Group 28 April 2018 The Sudanese civil and political circles and those concerned with Sudan were shocked by the news that the management of Hurriyat online newspaper has (...)

Petition on the Deteriorating Human Rights and Humanitarian Situation in Sudan 2018-04-22 10:01:20 UN Secretary-General, New York African Union Commission, Addis Ababa UN High Commissioner for Human Rights, Geneva Petition on the Deteriorating Human Rights and Humanitarian Situation in Sudan (...)

Abyei celebrates Mine Awareness Day 2018-04-05 08:52:03 4 April 2018 | Abyei - The United Nations Interim Security Force for Abyei (UNISFA) and the United Nations Mine Action Service (UNMAS) commemorated the International Day for Mine Awareness and (...)


MORE

Copyright © 2003-2018 SudanTribune - All rights reserved.