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Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Oil prices soar 4 percent but US inflation fears ease

Oil prices rose more than one percent as traders tracked developments in Syria. (AFP)
  • WTI and Brent crudes were both hovering around $80 per barrel at time of publishing
  • Expectations for three-year inflation hitting a record low of 2.3%

U.S. crude oil prices rose over 4% on Monday, surpassing $80 per barrel, as the Pentagon deployed additional forces to the Middle East in response to heightened tensions. Defense Secretary Lloyd Austin ordered a carrier strike group, including F-35 warplanes, and a guided-missile submarine to the region. Israel has been preparing for retaliatory strikes by Iran and Hezbollah after the assassination of a Hamas leader in Tehran, CNBC reported. WTI and Brent crudes were both hovering around $80 per barrel at the time of publishing.

Inflation outlook

U.S. consumers believe price increases will gradually decline, with expectations for three-year inflation hitting a record low of 2.3%, according to a New York Federal Reserve report. While inflation is expected to remain elevated over the next year, consumers anticipate a decline in the following years. The report comes amid expectations that the Federal Reserve may reduce interest rates next month. The Labor Department’s consumer price index report, due Wednesday, is expected to show a 0.2% increase last month and an yearly rate of 3%, still above the Fed’s 2% target.

S&P 500, Nasdaq unchanged

The S&P 500 and the Nasdaq Composite largely held on to gains in choppy trade ahead of key inflation data. The S&P 500 closed virtually unchanged, up 0.23 points, while the Nasdaq Composite added 0.21%, boosted by a surge in Nvidia shares. However, the Dow Jones Industrial Average fell 0.36%. The yield on the 10-year Treasury edged lower.