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
Five years of relentless upheaval have left Israel's tourism sector in ruins. The Covid pandemic, the October 7, 2023 massacres, the 2025 offensive against Iran and the renewed conflict in 2026 have delivered blow after blow to an industry that once welcomed millions of visitors annually.
Saudi Arabia's Future Investment Initiative (FII) Institute has appointed Princess Maha Al Saud as its new chief executive, marking a significant leadership transition at one of the world's most high-profile investment summits.
Anwar Gargash, the influential diplomatic adviser to the UAE president, met Monday in Paris with Anne Claire Le Jeune, the newly appointed president of the Institut du Monde Arabe (IMA), praising the cultural institution for its role in "strengthening cultural and civilisational dialogue between the Arab world and Europe."
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.