IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Trump Administration to Secure Equity Stake in Pat Gelsinger’s XLight Startup 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
IKEA Expands U.S. Manufacturing Amid Rising Tariffs and Supply Chain Strategy Shift 
Amazon Italy Pays €180M in Compensation as Delivery Staff Probe Ends 
Magnum Audit Flags Governance Issues at Ben & Jerry’s Foundation Ahead of Spin-Off 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
Anthropic Reportedly Taps Wilson Sonsini as It Prepares for a Potential 2026 IPO 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Visa to Move European Headquarters to London’s Canary Wharf 
Michael Dell Pledges $6.25 Billion to Boost Children’s Investment Accounts Under Trump Initiative 
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.
