Dubai And Abu Dhabi Shares Climb On Rate Cut

Dubai and Abu Dhabi’s stock markets rose after the UAE central bank cut interest rates by 0.25 percentage points, following a similar move by the U.S. Federal Reserve. Dubai’s main stock index gained 0.7%, driven largely by real estate and industrial companies such as Emaar Development and Gulf Navigation Holding. Abu Dhabi’s index also increased by about 0.3%, supported by ADNOC Gas and Emirates Telecommunications Group. Analysts noted that the UAE’s economic growth forecast for 2025 has been revised upward to 4.9% from 4.4%, reflecting stronger oil output and non-oil sector performance. However, volatility in global oil prices continues to pose risks for investor sentiment.

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