Boeing Secures $166.8 Million U.S. Navy Contract for P-8A Engineering and Software Support 
MOEX Russia Index Hits 3-Month High as Energy Stocks Lead Gains 
FAA Plans Flight Reductions at Chicago O’Hare as Airlines Ramp Up Summer Schedules 
Netflix Declines to Raise Bid for Warner Bros. Discovery Amid Competing Paramount Skydance Offer 
China’s New Home Prices Post Sharpest Drop Since 2022 Amid Ongoing Property Slump 
OpenAI Secures $110 Billion Funding Round at $840 Billion Valuation Ahead of IPO 
Malta will gain from smart heritage 
Bank of Japan Signals Further Interest Rate Hikes as Inflation Trends Toward 2% Target 
APEX Tech Acquisition Inc. Raises $111.97 Million in NYSE IPO Under Ticker TRADU 
Anthropic Refuses Pentagon Request to Remove AI Safeguards Amid Defense Contract Dispute 
The strikes on Iran show why quitting oil is more important than ever 
Trump Orders Federal Agencies to Halt Use of Anthropic AI Technology 
Nintendo Share Sale: MUFG and Bank of Kyoto to Sell Stakes in Strategic Unwinding 
FCC Approves Charter Communications’ $34.5 Billion Acquisition of Cox Communications 
Germany and China Reaffirm Open Trade and Strategic Partnership in Landmark Beijing Visit 
Oil Prices Surge 13% as U.S.-Israel Strikes on Iran Spark Supply Fears 
Strait of Hormuz Oil and LNG Shipments Disrupted After U.S.-Israel Strikes on Iran 
Gulf Stock Markets Experience Early Decline
Most major stock markets in the Gulf region saw a downturn in early trading on Wednesday due to escalating geopolitical tensions.
Geopolitical Tensions Rise
On Tuesday, Israel announced the death of Hashem Safieddine, the successor to the late Hezbollah leader Hassan Nasrallah, who was killed last month in an Israeli operation targeting the Iran-backed militant group.
Saudi Arabia's Market Reaction
In Saudi Arabia, the benchmark index dropped by 0.4%, primarily influenced by a 0.5% decline in Al Taiseer Group, an aluminum products manufacturer, and a 0.6% fall in Al Rajhi Bank. Banque Saudi Fransi also retreated by 1% following a reported decline in its quarterly net profit.
The International Monetary Fund (IMF) has further reduced its GDP growth forecast for Saudi Arabia for 2024 to 1.5%, with expectations of a rebound to 4.6% in 2025, according to its latest World Economic Outlook report released on Tuesday.
Market Trends in Other Gulf Nations
In Abu Dhabi, the index fell 0.2%, while the Qatari index decreased by 0.3%, with Qatar National Bank, the Gulf's largest lender, also experiencing a 0.3% drop. Conversely, Dubai's main share index increased by 0.3%, buoyed by a 1.4% rise in Salik Company, a toll operator.
Traders are adjusting their expectations regarding the Federal Reserve's monetary policy, leading to a cautious sentiment in the markets. The Gulf Cooperation Council's monetary policy generally aligns with the Fed's decisions, as most regional currencies are pegged to the U.S. dollar.
