Stock markets in the Gulf tracked global peers higher on Thursday, led by the Qatar index, as the optimism around potential U.S. interest rate cuts raised investors' risk appetite.
Saudi Arabia's benchmark stock index rose for the fourth straight session, up 0.7%, with most of its constituents posting gains © Mena Today
Stock markets in the Gulf tracked global peers higher on Thursday, led by the Qatar index, as the optimism around potential U.S. interest rate cuts raised investors' risk appetite.
Data on Wednesday showed lower growth in the U.S. services industry and bolstered optimism over the potential easing of monetary policy. Sentiment was aided by a reaffirmation from Federal Reserve Chair Jerome Powell that U.S. rates were still on course to be cut this year, though the timing was data-dependent.
Outside the Gulf, Egypt's blue-chip index gained 2%, with almost all stocks in the green.
By Md Manzer Hussain
Two Israeli banks will halt working with their Palestinian counterparts in the coming months citing risks of associating with possible terrorism financing and money laundering, Israeli officials said, fuelling concerns of a Palestinian economic crisis.
Civil society groups have called on Malaysian billionaire tycoon Syed Mokhtar Al-Bukhary to revoke the appointment of Sultan Ahmed Bin Sulayem as executive chairman of logistics giant MMC Port Holdings due to his alleged ties to the late Jeffrey Epstein.
Sharjah Islamic Bank (SIB) posted a net profit after tax of $218.9 million (AED803.9 million) for the first half of 2026, up 15.3 percent from $189.9 million (AED697.2 million) a year earlier.
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