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.
Several top energy executives were dropped from the schedule of the WPC Energy Congress in Riyadh, as Saudi authorities pressed ahead with the event despite deadly attacks on the capital claimed by Yemen's Iran-aligned Houthis.
The organisers of two major Saudi energy and investment conferences said their events will go ahead this month and reassured visitors on security, after missile attacks on Riyadh's airport left four people dead and an airliner heavily damaged this week.
Several global and regional hotel groups are looking to enter or expand in Syria, senior executives told Reuters, betting that its rich history and coastal destinations will attract overseas tourists as well as Syrians who have long lived abroad.
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