The US dollar remained on track for a weekly loss as markets monitored global geopolitical and economic developments. The euro held steady at $1.157, near its highest level in a week, backed by the European Central Bank’s decision to raise interest rates for the first time in three years.
Leading Omani bank Nizwa has successfully managed the launch of the 11th series of local sovereign sukuk issued by the sultanate. The total demand of the sukuk reached RO250 million ($648 million), thus reflecting strong investor interest that exceeded the size of the issuance.
SpaceX went public Friday, with shares trading at just above $150 in a hotly anticipated initial public offering that values Elon Musk’s rocket and AI company at $2 trillion. With this, Musk has now made history as the world’s first trillionaire.
IHC, a global investment company focused on building dynamic value networks, has launched its second share buyback programme, with an initial tranche of AED1.8 billion ($490 million) allocated for the repurchase of its shares.
The conflict in the Middle East is expected to slow global growth to the lowest rate since the onset of the COVID-19 pandemic amid higher energy prices, steeper inflation, and increased borrowing costs , according to the World Bank Group’s latest Global Economic Prospects report.
The heightened volatility in commodity prices, profit rates, and exchange rates following the onset of the Iran war has reinforced the importance of Islamic derivatives for risk management, Fitch Ratings says. However, adoption is fragmented, and varies by sector and country.
The Board of Trustees of the Future Investment Initiative (FII) Institute has appointed Princess Dr Maha bint Mishari bin Abdulaziz Al Saud as Chief Executive Officer of FII Institute.
Dubai Islamic Bank (DIB) said it has successfully priced a $1 billion Additional Tier 1 Perpetual Non-Call 6-Year Sukuk at a profit rate of 6.25%, thus reflecting strong investor confidence in its credit fundamentals, resilient profitability and prudent capital management framework.
Boursa Kuwait is stepping up efforts to develop the country's fixed-income market, hosting a webinar on bonds and sukuk in partnership with the CFA Institute after the Capital Markets Authority introduced rules governing their listing and trading on the exchange.
Saudi Arabia's economy is expected to accelerate sharply in 2027 after a subdued performance this year, with Riyad Capital forecasting real GDP growth of 6.8% next year compared with 0.9% in 2026, driven by a recovery in oil production and continued expansion of non-oil sectors.
