Asian stocks rise as Powell rate warning taken in stride
Equities rose in Asia on Wednesday as traders took in their stride a warning from Federal Reserve boss Jerome Powell...Economy
Tech Mahindra’s Ram Ramachandran: MEA, India key to shaping future in multipolar world
Davos, Switzerland -- The Middle East, Africa, and India have an important role and influence in shaping the evolving world order...Technology Technology Economy Global
Pre-tax net profit of Dubai Financial Market rises 74% to $53m in H1 2024
Dubai, Saudi Arabia - Dubai Financial Market (DFM) today announced its consolidated financial results for the period ended June 30,...The first half of 2024 saw an increase in trading activity, higher trade values, and a wave of new investors
Market capitalization of DFM listed companies stands at AED 679 billion (USD 184.8 billion) in the period
GCC countries host nine million Indians, UAE alone home to 3.55 million
New Delhi, UAE - The number of Indians living in the Gulf Cooperation Council (GCC) countries has crossed nine million,...Indians are employed in a wide range of professions from highly qualified fintech, healthcare, information technology, engineering and banking to blue collar jobs
Within the GCC, the most popular destination for Indian job seekers is the UAE, which hosts 3.55 million Indians, followed by Saudi Arabia, with 2.64 million Indians
Asian markets battle to recover from tech rout after reassuring US data
Asian traders struggled to fight back Friday after a tech-fuelled sell-off, taking heart from forecast-beating US growth data that reassured...Figures showing the US economy expanded far more than expected in the second quarter
Attention now turns to personal US consumption expenditure figures, due later today
Dubai’s GDP tops $31.3 bn in Q1 2024, growing 3.2%
The financial and insurance sector saw a 5.6% rise, reaching USD 4.1 billion (AED 15.1 billion), supported by significant growth...The transportation and storage sector grew by 5.6 percent, contributing USD 4.2 billion (AED 15.4 billion) to the GDP, driven by increased demand for national carriers' services
The financial and insurance sector also saw a 5.6 percent rise, reaching USD 4.1 billion (AED 15.1 billion), supported by significant growth in credit and deposit balances
Asian markets drop as Biden drops out of White House race
Asian markets fell Monday as Joe Biden's decision to drop out of the US presidential race fuelled fresh uncertainty, while...Traders appeared to be unmoved by China's decision to cut interest rates
Developments out of Washington overshadowed optimism that the FED will cut interest rates as soon as September
US Department of State issues favorable 2024 Bahrain Investment Climate Statement
The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...Oil and gas sector now makes up less than 20 percent of Bahrain’s GDP
Bahrain’s total foreign direct investment (FDI) stock reached $33.8 billion in 2023
Record high Gold prices amidst expected September FED rate cut
Gold prices continued to notch new records Wednesday, lifted by increasing conviction that the Federal Reserve will cut interest rates...Gold rose 0.5% to $2,482.29 per ounce, hitting an all-time high
Markets are fully pricing in a rate cut of at least 25 basis points
Transformative New Murabba Stadium design in Riyadh revealed by PIF
Equipped with cutting-edge sporting technology, the stadium will offer an immersive and personalized experience for fans. Additionally, it will act...The design of the Stadium symbolizes the fusion of tradition and innovation that defines New Murabba
The project is scheduled for completion by the end of 2032
Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates
Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut...A “hard landing” for the U.S. economy was not “a likely scenario.”
The central bank’s next policy meeting is at the end of July
Dollar droops before Powell testimony; euro weathers France uncertainty
The U.S. dollar hung near a multi-week low versus major peers on Tuesday, still smarting from Friday's unexpectedly soft jobs...The U.S. dollar index was flat at 104.99
Traders currently set about 76% odds for a rate cut at the September FED meeting
