Logistic
Most Gulf markets inch higher in early trade
Saudi Arabia's benchmark index (.TASI), edged 0.1% higher, helped by a 2.2% rise in Al Rajhi Bank (1120.SE), and a 1.7% increase in Elm Company (7203.SE).
Oil prices, a catalyst for the Gulf's financial markets, nudged higher in the first day of trade for 2025, as investors returning from holidays cautiously eyed a recovery in China's economy and fuel demand following a pledge by President Xi Jinping to promote growth.
Dubai's main share index (.DFMGI), inched up 0.1%, with toll operator Salik Co (SALIK.DU), gaining 1.7%.
On the other hand, the Abu Dhabi index (FTFADGI), dropped 0.8%.
Separately, Abu Dhabi's Mubadala Investment Company accounted for about 20% of the almost $136.1 billion spent by sovereign wealth funds worldwide last year, overtaking Saudi Arabia's wealth fund amid a surge in spending from Gulf countries.
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