Middle EastMIDEAST STOCKS Most major Gulf markets track lower oil prices; Dubai gains
Ateeq Shariff
4 minute read
A general view shows the Dubai Financial Market after Joe Biden wins U.S. presidency, in Dubai, United Arab Emirates November 8, 2020. REUTERS/Christopher Pike
Major Gulf markets ended lower on Wednesday, mirroring weak oil prices, while Dubai extended gains from the previous session following an upbeat assessment of its property shares by Morgan Stanley.
Brent crude futures fell $1.4, or 2% to $67.31 a barrel at 1215 GMT, on renewed demand concerns as coronavirus cases in Asia rise and on fears rising inflation might lead the U.S. Federal Reserve to raise interest rates, which could limit economic growth.
Investors flock to buy Dubai realty in Ramadan khaleejtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaleejtimes.com Daily Mail and Mail on Sunday newspapers.
Earlier this month, The Coca-Cola Co (NYSE: KO) removed its logo from cans of coke in the Middle East and replaced it with a message that read Labels are for cans, not people. The campaign ran during Ramadan, an Islamic festival that takes place from June 17 to July 17. Overall, Coke s decision. Read More.