Major stock markets in the Gulf ended lower on Monday as investors waited for key U.S. inflation data this week, which could provide more clues on the Federal Reserve's monetary policy path.
Most Gulf currencies are pegged to the dollar, and Saudi Arabia, the United Arab Emirates, and Qatar usually mimic any monetary policy change in the United States © Mena Today
Major stock markets in the Gulf ended lower on Monday as investors waited for key U.S. inflation data this week, which could provide more clues on the Federal Reserve's monetary policy path.
Markets will monitor U.S. consumer inflation due on Tuesday ahead of the Federal Reserve's policy decision next week.
Most Gulf currencies are pegged to the dollar, and Saudi Arabia, the United Arab Emirates, and Qatar usually mimic any monetary policy change in the United States.
Outside the Gulf, Egypt's blue-chip index was up for a third consecutive session and ended 1.4% higher, with Commercial International Bank surging 8.9% and E-Finance shooting up 14%.
The International Monetary Fund (IMF) said last week it would increase its current loan programme with Egypt by $5 billion, as the central bank let the pound plummet and said it would allow the currency to trade freely.
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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