Stock markets in the Gulf declined on Thursday, as investors awaited key inflation data due on Friday to assess the likely path of interest rates from the U.S. Federal Reserve.
The crucial February reading of the Personal Consumption Expenditures (PCE) price index, the Fed's preferred inflation gauge, is due on Friday © Mena Today
Stock markets in the Gulf declined on Thursday, as investors awaited key inflation data due on Friday to assess the likely path of interest rates from the U.S. Federal Reserve.
Saudi Arabia's benchmark index fell 0.3% with most sectors in the red and logged a 2.1% loss for the week.
Al Rajhi Bank, the world's largest Islamic lender, slipped 1.4% and Saudi Research and Media Group slumped 10%, the steepest drop in more than six years after the media firm posted a 15.9% decrease in annual net profit.
However, Saudi National Bank climbed 4.9%, the sharpest rise since early January, after the kingdom's largest lender has appointed a new chief executive in place of the acting CEO.
The Qatari benchmark index was down 0.1%, weighed down by losses in energy, finance, real estate and industry sectors with Qatar Navigation sliding 2.3% and Qatar International Islamic Bank dropping 1.4%.
In Abu Dhabi, the benchmark index slid for a fourth straight session and ended 0.1% lower, with Aldar Properties sliding 1.1% and First Abu Dhabi Bank, the UAE's largest lender, falling 0.6%.
Dubai's benchmark index was little changed as Commercial Bank of Dubai gained 4.4% and Dubai Financial Market added 3.5%.
The crucial February reading of the Personal Consumption Expenditures (PCE) price index, the Fed's preferred inflation gauge, is due on Friday.
A hot reading for the PCE index could dent market optimism around early rate cuts.
By Md Manzer Hussain
UAE-based AD Ports Group has acquired Corredor Logística e Infraestrutura (CLI), Brazil's leading independent agri-bulk port terminal operator, for an enterprise value of $835 million (AED 3.1 billion), marking the group's first entry into Latin America.
Paris and several French cities descended into chaos on Saturday night as violent clashes erupted following PSG's Champions League final victory over Arsenal in Budapest, scenes that have become a grim ritual whenever the Qatar-backed club wins a major trophy.
The United Arab Emirates posted robust economic growth of 6.2% in 2025, with real GDP reaching 1.9 trillion AED ($517 billion), according to data released Sunday by the Federal Competitiveness and Statistics Centre.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.