Dubai
Stock markets in the Gulf ended higher on Monday, with the Abu Dhabi index marking its best session in more than nine months, led by the UAE’s top lender, First Abu Dhabi Bank.
The Abu Dhabi index gained nearly four per cent and the benchmark has risen in all but two sessions so far in the new year.
First Abu Dhabi Bank was the best performer on the benchmark, adding about eight per cent. Another bank, Abu Dhabi Commercial Bank, rose nearly five per cent.
The Abu Dhabi Department of Finance has announced a Dh6 billion ($1.63 billion) supply chain financing initiative to support a variety of sectors, as a key initiative in its commitment to support small and medium enterprises.— Reuters
