by Jibran Munaf | August 16, 2024 | Market Analysis & Commentary, Market Commentary, News, Retail
Retail spending in the GCC is projected to increase by 37% from 2022 levels, reaching $300 billion by 2028. Cities in the region are emerging as top global shopping destinations, with Dubai leading the way. Dubai is the only GCC city among the six top global retail...
by Jibran Munaf | August 15, 2024 | Currencies, Economy, Finance, Markets, News
The dollar lost ground against its major peers on Wednesday, helping the euro to an eight-month peak, as the U.S. Consumer Price Index (CPI) showed inflation is subsiding, reinforcing expectations that Federal Reserve interest rate cuts are near. U.S. CPI rose...
by Jibran Munaf | August 15, 2024 | Commodities, Derivatives, Finance, Markets, News
Gold prices fell 1% on Wednesday after data showed U.S. consumer prices rebounded as expected in July, dampening hopes for a sizeable rate cut from the Federal Reserve next month. Spot gold fell about 1% to $2,440.62 per ounce by 1637 GMT. U.S. gold futures slipped...
by Jibran Munaf | August 15, 2024 | Finance, Market Commentary, News, Stocks & Bonds
Initial public offerings (IPOs) in the UAE markets raised US$890 million in the second quarter (Q2) of this year, according to a recent economic report. The PwC Middle East’s latest IPO+ Watch said that notable IPOs in the second quarter included Alef Education...
by Vasu Jit Kalia | August 14, 2024 | Market Analysis & Commentary
The total production of passenger vehicles, three-wheelers, two-wheelers and quadricycle reached 24,37,138 units in July, the Society of Indian Automobile Manufacturers (SIAM) data showed on Wednesday. Passenger vehicles sales were 3,41,510, three-wheeler sales were...
by Jibran Munaf | August 14, 2024 | Breaking, Currency Markets Analysis, Economy, Finance, Market Analysis & Commentary, Markets, News, Stocks & Bonds
Stocks rallied across the board, with the Dow, S&P 500, and Nasdaq Composite all posting gains after weak Producer Price Index (PPI) inflation data. The technology sector led the charge as the first of two closely watched inflation reports came in weaker than...
