by Jennifer George | September 23, 2024 | Banking, Central Banks, Stocks & Bonds
The Central Bank of Egypt has decided to offer a stake in United Bank’s (UB) shares on the Egyptian Stock Exchange and is currently working on obtaining the required approvals related to the offering, including the approvals of the Financial Regulatory Authority and...
by Jibran Munaf | September 22, 2024 | Cryptocurrencies, Markets
US-listed cryptocurrency stocks soared on Thursday after a half-percentage point interest rate cut by the Federal Reserve fueled risk-on sentiment among investors. The reduction in rates added momentum to an industry already riding high on significant wins earlier...
by Jibran Munaf | September 22, 2024 | Market Analysis & Commentary, Markets, Stocks & Bonds
Global stock markets dipped on Friday following a rally sparked by the US Federal Reserve’s decision to cut interest rates. The move, which reduced the rate by 50 basis points, initially boosted investor confidence, leading to record highs for major indices....
by Jibran Munaf | September 21, 2024 | Commodities, Market Analysis & Commentary
Gold prices skyrocketed above the $2,600 threshold on Friday, driven by expectations of further U.S. interest rate cuts and escalating geopolitical tensions in the Middle East. This marks the first time gold has crossed the historic $2,600 mark, adding momentum to a...
by Jibran Munaf | September 21, 2024 | Markets, Stocks & Bonds
The market capitalization of Arab stock exchanges rose to $4.268 trillion by the end of August 2024, marking a 0.52% growth—equivalent to $22 billion—compared to $4.246 trillion at the end of July, according to the Arab Monetary Fund’s (AMF) latest report. The...
by Vasu Jit Kalia | September 17, 2024 | Commodities, Market Analysis & Commentary, Markets
Gold prices in the UAE have lost one-and-a-half dirhams per gram at the opening of the markets in Dubai on Tuesday, dropping from an all-time high of AED313.5 per gram at the close of the markets on Monday. According to Dubai Jewellery Group data, the 24K variant was...
