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.
Following the recent ceasefire with Hezbollah, international airlines are gradually resuming flights to Israel, providing alternatives to the high fares charged by El Al Israel Airlines Ltd. during the war.
As 2024 comes to a close, the Middle East finds itself at the end of an extremely turbulent and eventful year, according to the latest Middle East Outlook 2025 report published by the Economist Intelligence Unit.
The Central Bank of the United Arab Emirates has approved the launch of a new stablecoin, AE Coin, which will be pegged to the dirham.
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