UAE stocks end the week in negative territory
Dubai’s stock index jumped more than one per cent on Thursday as investors shrugged off concerns arising out of the tension a day earlier, when UAE, along with Saudi Arabia and Bahrain had recalled their envoys from Qatar.
Dubai drops, Abu Dhabi gains
UAE stocks finished in opposite directions on Wednesday amid early jitters after three of the Gulf allies, including the UAE, recalled their envoy from Qatar after accusing the latter of meddling in the internal affairs of their countries, threatening stability. Saudi Arabia and Bahrain were the other two allies who pulled out their envoys. Qatar decided not to recall its ambassadors from the three countries.
Gulf's rift over Qatar may slow investment, reforms
A diplomatic split between Qatar and its wealthy Gulf neighbours may disrupt billions of dollars of investment in the region and slow efforts to make economies more efficient through trade and transport reforms.