Most stock markets in the Gulf fell in early trade on Wednesday as hopes waned for early interest rate cuts from the U.S. Federal Reserve.
In Abu Dhabi, the benchmark stock index fell 0.3%
Most stock markets in the Gulf fell in early trade on Wednesday as hopes waned for early interest rate cuts from the U.S. Federal Reserve.
Markets will get a chance to assess minutes of the Feds' last meeting later in the day for further clues on when the U.S. central bank will start its easing cycle.
Most Gulf currencies are pegged to the dollar, and any monetary policy change in the United States is usually mimicked by Saudi Arabia, the United Arab Emirates and Qatar.
Lebanon's Finance and Budget Committee approved Monday a government bill establishing a "golden visa" scheme, offering wealthy foreigners and expatriates the opportunity to obtain Lebanese residency and a preferential tax regime in exchange for a minimum investment of $500,000.
The United States authorized Iranian oil sales on Monday, easing decades-old sanctions as it pushes toward a final peace deal with Tehran in return for commitments on nuclear inspections and free transit through the Strait of Hormuz.
Syria has signed a contract with American energy giant ConocoPhillips and Novaterra Energy to develop several gas fields and boost production at existing ones, state media reported Tuesday, the latest in a series of major energy agreements as Damascus seeks to rebuild its war-ravaged infrastructure.
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