Most stock markets in the Gulf slipped on Wednesday as investors turned cautious after strong readings on the U.S. economy tempered bets on interest rate cuts by the Federal Reserve this year.
Most Gulf currencies are pegged to the dollar © Mena Today
Most stock markets in the Gulf slipped on Wednesday as investors turned cautious after strong readings on the U.S. economy tempered bets on interest rate cuts by the Federal Reserve this year.
Investors' focus is now on Federal Reserve Chair Jerome Powell's speech and March private payrolls and services sector data later in the day to get more clues on the rate outlook.
Most Gulf currencies are pegged to the dollar, and Saudi Arabia, the United Arab Emirates, and Qatar usually mimic any U.S. monetary policy change.
Outside the Gulf, Egypt's blue-chip index was little changed.
By Md Manzer Hussain
Morocco's National Office of Hydrocarbons and Mines (Onhym), led by Amina Benkhadra, is now responsible for granting mining permits in Western Sahara, according to‘Africa Intelligence’ published on Monday.
The sale of shares in Saudi Arabian oil giant Aramco reached $12.35 billion at the end of the stabilization period, surpassing the initial forecast by $1 billion, according to a statement released on Wednesday.
Riyadh Air has partnered with U.S. carrier Delta Air Lines as the Saudi startup carrier grows its potential network ahead of launching commercial operations next year, the airlines said on Tuesday.
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