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.
Spanish police said on Tuesday they had dismantled an illegal banking network that served some of Europe's biggest cocaine traffickers, arresting 21 people in several countries including in the Middle East and uncovering assets worth €20 million ($23.2 million).
Israel's Ministry of Finance released a set of headline macroeconomic indicators ahead of Rosh Hashanah, the Jewish New Year, a major holiday marking the start of the Hebrew calendar year and traditionally a moment for reflection and stocktaking, including on the state of the economy.
Vision Bank, the Islamic bank headquartered in Abu Dhabi Global Market (ADGM) and wholly owned by GII Group, has announced the launch of a new SME financing proposition, marking a significant milestone in the Bank's strategy to support modern businesses with solutions tailored to how companies operate, trade and grow.
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