Central Bank
U.S. personal consumption expenditures index rose by 2.6 percent in May after a 2.7 percent rise in April
The economy had contracted for two consecutive quarters in the second half of 2023, indicating a recent recession
GCC banks' revenue-to-assets ratio is 3.2 percent, well above the global average of 2.3 percent
Investors today await the U.S. personal consumption expenditures (PCE) price index, the Fed's preferred inflation measure
The strong U.S. dollar is driven by expectations the Fed will keep rates high due to a robust economy
Gold prices remain impacted by the Fed's policy decisions and rising geopolitical tensions
Brent oil futures for August delivery dropped 0.4 percent to $84.91 per barrel
Higher 10-year treasury yields and a stronger U.S. dollar trigger decline in gold prices
Brent oil futures expiring in August fell 0.1 percent to $84.90 per barrel
In a statement, CBK explained that the issuance period is three months, with a return rate of 4.375 percent
The regulation will also help consolidate the financial sector's competitiveness and support the UAE's economic growth
