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.
International credit ratings agency S&P Global has affirmed Ras Al Khaimah's credit rating at 'A/A-1' with a stable outlook for 202, reflecting confidence in the Emirate's economic resilience and prudent fiscal management amid current global uncertainties.
Neutralizing Iran could make crude oil much cheaper because the threat posed by Tehran imposed a "terror premium" that inflated global oil prices for decades, a top White House adviser said in a report to be released on Monday.
Egypt's Minister of Industry Khaled Hashem met with a Mercedes-Benz Egypt delegation led by CEO Stefanie Volz to discuss expanding the German automaker's operations and deepening its investment in the Egyptian market.
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