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.
Chinese Premier Li Qiang’s visit to Egypt marks a major diplomatic milestone in strengthening China-Egypt ties, said Chinese Ambassador to Egypt Liu Licheng in a statement issued Wednesday.
Saudi Arabia and Indonesia signed several deals and memos of understanding worth around $27 billion between private sector institutions in several fields including clean energy and petrochemicals, the Saudi state news agency SPA reported on Wednesday.
The Egyptian government has successfully completed its second sovereign sukuk issuance, valued at $1 billion, as part of its broader strategy to diversify financing tools and investor bases.
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