Stock markets in the Gulf look set to rise on Sunday, shrugging off Moody's decision to cut its outlook for the debt ratings of several Gulf states, after oil prices rallied further on Friday.
Saudi Arabia's Aa3 rating was
Gulf stock markets rose sharply early on Sunday, with strong trading volumes suggesting some investors were returning after oil prices and global equities jumped at the end of last week.
Dubai's index surged 3.1 per cent to 2,
Gulf stock markets edged higher on Sunday with Saudi Arabia rising in the final hour of trade as local traders bought back ahead of Monday's 2016 budget announcement. Egypt dropped in response to an interest rate hike.
Financial markets in the Gulf reacted calmly on Thursday to the first US interest rate hike in nine years, suggesting most investors think the region can defend its currency pegs to the dollar for the foreseeable future.
The US Fe
Economies and markets in the wealthy Gulf oil exporters barely blinked when Islamist militants overran parts of neighbouring Iraq last year, and they look likely to ride out escalating conflict in Yemen with similar ease.
The manager of one of the world's best-performing mutual funds, the Dubai-based Daman Fifth Fund, says there is still plenty of upside in Gulf Arab markets despite the plunge of oil prices.
Daman Fifth was ranked the top-perfo
Funds are positive on many Gulf stock markets despite the recent slide in oil prices, after sharp pull-backs in the markets improved valuations, the latest monthly Reuters survey of regional asset managers found.
The oil price dro
Despite some headwinds, long-term prospects for the sukuk industry remain promising as regulators continue to build and strengthen their frameworks to minimize barriers in the market and deepen liquidity, Standard & Poor's Ratings Servic
Gulf markets declined in volatile trading as investors opted for short-term trades amid increasing worries of a military strike against Syria.
Dubai's measure dropped 1.9 percent to 2,443 points but reached