Browsing: Arabian Gulf

Most stock markets in the Gulf closed higher on Thursday, led by the Saudi index, joining a global rally as investors cheered the U.S. Federal Reserve’s indication that it will still deliver three rate cuts this year. The Fed kept borrowing costs unchanged on Wednesday and signaled they still expect to ease interest rates by three-quarters of a percentage point by the end of 2024.

The Dubai International Financial Centre (DIFC) has implemented the new changes to the Employment Law that require contributions to a savings scheme for Gulf nationals working at the financial hub.