Oil may rise to $100, gold to hit $3,000 by 2025, says Citi
ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...
Economy
Kuwait leads GCC market gains amid regional tensions
Despite challenges from regional tensions and fluctuating oil prices, sectors like F&B and pharma see notable increases, showcasing the diverse...
Market Report
Market Report
Stocks mixed, dollar firms on rate-hike fears
Stock markets traded mixed as last week's optimism gave way to worries that central banks may wait longer than expected...
- The dollar firmed on prospects of more US rate-tightening and oil prices slipped.
- Cooler inflation is said to have eased the pressure on the European Central Bank.
Economy
More monetary tightening required, says top Federal Reserve official
The US should continue tightening monetary policy to bring down inflation while assessing the impact of last month's financial turmoil...
- The rate-setting Federal Open Markets Committee voted last month to continue raising interest rates to tackle inflation.
- The FOMC took this decision despite the turmoil when Californian high-tech lender Silicon Valley Bank dramatically collapsed.
Market Report
Stocks jump, dollar falls as Federal Reserve seen curbing rate rises soon
Equity markets rose, with Paris hitting a record-high, as investors reacted positively to easing inflation, recession concerns and some strong...
- In a sign of cooling inflation, Singapore's central bank kept rates steady, having previously hiked five times in a row.
- Stocks advanced "on increasing signs that the global round of interest rate hikes could be drawing to a close".
Business
DEWA approves payment of US$1.29bn in dividend to shareholders
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) which is listed on the Dubai Financial Market (DFM) on Monday...
- DEWA general assembly was chaired by Matar Humaid Al Tayer, Chairman of the Board of Directors of the utility.
- Saeed Mohammed Al Tayer, MD and CEO of DEWA and members of the Board of Directors also took part in the meet.
Opinion
Marketwatch: Commodities navigate turbulent waters
Grains sector was on track for its first monthly gain this year, bolstered by a resurgence in corn prices due...
- The energy sector experienced significant weakness, with a nearly 9 percent decline exacerbated by a 26 percent drop in US natural gas futures
- Grains sector was on track for its first monthly gain this year, bolstered by a resurgence in corn prices due to increased export demand
Opinion
Markets get affected as financial turmoil resurfaces
Crude oil has been challenged by the continued loss of risk appetite. The banking crisis has particularly impacted the energy...
- The collapse of Silicon Valley Bank and troubles at Credit Suisse sparked turbulent trading activity, particularly in the bond market
- Gold and silver have benefited from a 3.5% drop in the dollar and a 110bps collapse in the two-year US government bond yield
Market Report
Saudi Arabia’s TASI ends the week higher while UAE markets fall
Several factors contributed to the fall in UAE markets, including a decline in oil prices, worries about multinational banks' health.
- The primary index of the Abu Dhabi Securities Exchange fell by 0.5 percent, while the Dubai market's main index dropped by 0.9 percent.
- In Dubai, losses in the industrial and financial services sectors led to a 0.5 percent drop in the main index on Monday.
Business
Abu Dhabi Securities Exchange appoints Emirates NBD Capital as custodian
ABU DHABI, UAE - Abu Dhabi Securities Exchange (ADX) has appointed Emirates NBD Capital as a custodian. Emirates NBD Capital...
- Emirates NBD Capital obtained its custody licence from the UAE Securities and Commodities Authority.
- The firm provides safe and secure solutions for investors to hold securities, such as stocks, bonds or other assets.
Reforms help UAE, KSA lead M&A activities in MENA
Local deals account for 51% of total M&A volume with technology sector at 25% as improved market conditions and pro-business...
- Local deals account for 51% of total M&A volume with technology sector at 25% as improved market conditions and pro-business reforms boost investor confidence in the region
- Rise in oil prices over the past six years, pro-business legislative reforms, and relaxation of government travel restrictions were some other reasons behind strong M&A activities
Economy
US consumer inflation high, Federal Reserve under stress
US consumer inflation edged down in February but remains elevated, according to government data, adding pressure to the Federal Reserve...
- Between January and February, the consumer price index rose 0.4 percent, slowing from the month prior as well.
- The food index in February remains nearly 10 percent above last year's level, with prices of dining out still high.
Oil may rise to $100, gold to hit $3,000 by 2025, says Citi
ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...
Economy
Company News
Q3 corporate earnings show mixed results in GCC
Market Report
Latest News
DTC sets IPO offer price range
Business
ADIB issues green sukuk
Business
ADX set for dynamic growth in 2024 with new listings
"ADX's crucial role in bridging investors with companies, fostering growth opportunities, and reinforcing the UAE and Abu Dhabi's status as...
Business
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,...
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...
Market Report
Most Read
Business
DTC sets IPO offer price range
Final offer price will be fixed through a book-building process
- The company announced that the offer price range had been set between US$0.49 (AED1.80) and US$0.5 (AED1.85) per share.
- This implies a market capitalization at the time of listing of between US$1.2 billion (AED4.5 billion) and US$1.25 billion (AED4.6 billion).
Business
UAE holds 19% of global sustainable bonds, says Fitch Ratings
DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues...
- Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region.
- Environmental, social and governance bonds in UAE constitute over 19 percent of the global ESG bond market.
Business
ADIB issues green sukuk
The final orderbook of the green sukuk closed at $2.6 billion.
- The issuance was met with exceptional demand, attracting interest from over 100 global and regional investors.
- ADIB intends to allocate an amount equal to the net proceeds of this issuance to fund eligible green projects.