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.
Abu Dhabi-based investment group 2PointZero has announced its participation in WHOOP's Series G funding round, joining a raise led by Collaborative Fund. The move signals a significant bet on the booming consumer health technology sector.
As missiles and drones continue to fly across the Middle East, Abu Dhabi is sending a clear message: business goes on.
The Iran conflict is causing a rise in tourist cancellations and a dive in new bookings in Cyprus and to a lesser extent other countries whose economies rely heavily on summer visitors.
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