Major stock markets in the Gulf put in a mixed performance on Tuesday as investors turned cautious ahead of the U.S. Federal Reserve's interest rate decision and commentary.
The operator of fitness centers in the Middle East and north Africa, Leejam posted a 22.9% rise in fourth-quarter net profit © Mena Today
Major stock markets in the Gulf put in a mixed performance on Tuesday as investors turned cautious ahead of the U.S. Federal Reserve's interest rate decision and commentary.
Saudi Arabia's benchmark index was up for a sixth straight session and ended 0.3% higher, with rising 1.7% and oil major Saudi Aramco gaining 1%.
Among other gainers, Leejam Sports surged 8.1%, hitting its all-time high of 243 riyal a share.
The operator of fitness centers in the Middle East and north Africa, Leejam posted a 22.9% rise in fourth-quarter net profit and raised its quarterly cash dividend by 20%.
The Fed is widely expected to hold rates steady in a meeting on Wednesday, with the market's attention on policymakers’ updated economic and interest rate projections and comments from Chair Jerome Powell.
Israel's economy has for almost a year ridden out the chaos of a war that risks spiralling into a regional conflict, but rising borrowing costs are starting to strain its financial architecture.
Saudi Arabia is preparing to abandon its unofficial $100 a barrel oil price target as it gets ready to raise output to win back market share, even if it means lower prices, the Financial Times reported on Thursday.
A decision on an IPO is for the shareholder ADQ to make, the CEO of Abu Dhabi's Etihad Airways, Antonoaldo Neves, said on Wednesday.
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