Stock markets diverge before Nvidia results, Federal Reserve minutes
Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...
Market Report
Bezos sells $2bn Amazon shares
He reportedly intends to sell, next July, 50 million shares of the group.
Business
Business
Stock markets rise globally on cooling US inflation
Stock markets jumped after data showed US inflation slowed further in May, raising hopes the Federal Reserve will pause its...
- The dollar fell against other major currencies as the greenback usually benefits from higher interest rates.
- The US central bank has raised interest rates 10 straight times in efforts to combat elevated inflation.
Business
Crypto exchange Binance halts US dollar deposits after action
WASHINGTON, US - The world's largest cryptocurrency exchange Binance said it was halting US dollar deposits and encouraged clients to withdraw...
- Binance is alleged to have permitted US residents to trade, even though the platform is not registered in the United States as a securities exchange.
- Binance has criticized the govt's actions, saying that it will continue to vigorously defend ourselves and customers against the SEC attacks.
Business
US SEC sues cryptocurrency platform Coinbase
NEW YORK, US - US securities regulators sued Coinbase on Tuesday, alleging that the cryptocurrency platform's failure to register as a securities...
- "Since at least 2019, Coinbase has made billions of dollars unlawfully facilitating the buying and selling of crypto asset securities," said the SEC.
- SEC said Coinbase's failure to register "has deprived investors of significant protections, including inspection, record-keeping requirements."
Market Report
Stock markets give out mixed signals as traders await US debt ceiling vote
Stock markets wobbled as a deal to hike the US debt ceiling and avoid a painful default goes to a...
- Ultra-conservative Republicans feel House Speaker should have secured far deeper spending cuts in exchange for raising the debt ceiling.
- The left wing of the Democratic Party is equally unhappy that President Joe Biden agreed to any spending limits at all.
Business
DFM launches futures contract on General Index
Dubai, UAE - The Dubai Financial Market (DFM) on Monday announced the offering of futures contracts on its General Index...
- Trading futures contracts on the DFMGI offers investors the opportunity to access DFM’s largest and most liquid stocks.
- DFMGI will provide strong diversification and hedging opportunities for both retail and institutional investors.
Market Report
Stock markets advance on US debt, elections
Major stock markets advanced after President Joe Biden said he was "optimistic" about finding an agreement on averting a first-ever...
- The European Commission boosted its 2023 economic growth outlook for the eurozone but raised the inflation forecast for the area.
- European gas prices reached the lowest levels in almost two years as concerns about tight supplies ease heading into the summer.
Market Report
Global stocks rise despite data showing US economic slowdown
Wall Street stocks pushed higher despite data that showed US economic growth is slowing, which raised fresh questions about interest...
- The first quarter growth figure adds to lackluster US consumer confidence data which has deepened worries about a broader recession.
- Yields on US government debt rose after the data was released and also reported a drop in weekly jobless claims.
Traders in GCC gear up for volatile week as markets gradually reopen
Traders are expected to scramble to incorporate changes in sentiment following last week's data, while keeping an eye on the...
- Changes in sentiment following last week's data and global data are expected to impact trading
- Qatari stock market may reopen with new pressures on prices due to caution among investors
Opinion
Marketwatch: Recession fear hurts commodity market
"As the gold correction unfolded last week, platinum remained supported due to supply concerns from South Africa facing frequent power...
- Crude prices are heading for their biggest weekly loss since last month's banking turmoil-led sell-off, wiping out most of the gains that followed the OPEC+ cut announcement
- Mining companies' quarterly results highlight that global tightness in the copper market will continue, but the short-term outlook points to continued rangebound trading
Market Report
Stock markets slip on auto woes, economy fears
Global equities mostly slid on auto sector woes and economic fears about the prospect of more interest rate hikes aimed...
- The dollar fell against its main rivals and crude oil tanked more than two percent.
- Europe's main equity markets were mostly lower after a mixed session in Asia.
Stock markets diverge before Nvidia results, Federal Reserve minutes
Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...
Market Report
Company News
Oil prices rise following Red Sea attacks
Market Report
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Q3 corporate earnings show mixed results in GCC
Market Report
GCC equity markets record first gain in four months
The GCC equity market index rebounded notably in November 2023, with the MSCI GCC index rising 5.2%, led by Qatar...
Business
Defying global trend, UAE leads Middle East IPO surge
The region's IPO momentum is driven by strong performances from entities like Dubai Taxi Company and a significant announcement from...
Business
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Market Report
Q3 corporate earnings show mixed results in GCC
While the energy and commodity sectors faced declines due to falling prices, the banking and telecom sectors demonstrated remarkable resilience,...
- While the energy and commodity sectors faced declines due to falling prices, the banking and telecom sectors demonstrated remarkable resilience, says a latest report.
- The latest comprehensive analysis by Kamco Invest delves into the intricacies of the GCC's corporate financial performance during a turbulent economic period.
Market Report
Stock markets on hold as investors await key US inflation data
Stock markets were mostly in wait-and-see mode as investors eyed the release this week of key US inflation data that...
- The Dow edged higher at the open, while the S&P 500 and Nasdaq drifted lower.
- With Wall Street seeing little action at the back of last week owing to the Thanksgiving break, traders had few catalysts to drive action.
Business
Bank of Sharjah joint lead manager for $350m Ittihad sukuk
SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million...
- The Sukuk issuance was 1.7 times oversubscribed, with the orderbook reaching approximately US$600 million.
- “This demonstrates Ittihad’s solid business fundamentals and confirms its strong credit appetite,” CEO of Bank of Sharjah said.