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.
The Arab Energy Fund (TAEF) has listed a USD 500 million Sukuk on Nasdaq Dubai, attracting orders exceeding USD 900 million and achieving 2x oversubscription, a strong vote of confidence from global investors in the multilateral institution's credit profile and energy sector mandate.
The acquisition of Electronic Arts (EA) by a consortium led by Saudi Arabia's Public Investment Fund (PIF), the most significant transaction in the history of the video game industry, is taking longer than anticipated to close, sources indicate.
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.
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