Picture used for illustrative purpose. File
Gulf Today Report
European stocks jumped on Thursday on hope for a global economic recovery led by the stimulus after US Federal Reserve.
The pan-European STOXX 600 rose 0.5% by 07:20 GMT, adding to gains made earlier this week when the index erased all of its pandemic-driven losses.
Fed officials are committed to supporting the pandemic-hit economy until its recovery is more secure, according to minutes from a meeting.
Investors broadly looked past news that several European countries had announced restrictions on the use of the AstraZeneca COVID-19 vaccine in younger people after a link was found to very rare blood clots.
Asian markets trudged on Thursday after US stock futures reached new peaks following the US Federal Reserve’s declaration.
MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.2% in very quiet trade. Moves were modest across the region with Chinese blue chips up 0.1% and South Korea dead flat.
According to the minutes of the US Federal Reserve's last policy meeting, the economy is far from the forecasted target, therefore the Feds are in no rush to scale back their $120 billion a month of bond buying.
The pan-European STOXX 600 fell 0.7% by 08:10 GMT, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6%, on Wall Street, the Dow slumped 1.16%.
Tokyo is leading the Asian market with gains jumping 1.7 per cent while Sydney piled on 0.9 per cent. Euro Stoxx 50 futures fell 0.9% at 06:56 GMT, while German DAX futures shed 0.7% and UK's FTSE futures lost 0.5%.
Japan's Nikkei 225 surged 1.9% to 24,794.44. Australia's S&P/ASX 200 added 1.6% to 6,291.10. In Europe, Stoxx 50 futures were up 1.5% by 06:40 GMT, while German DAX futures and London's FTSE futures gained 1.6% and 1.3%, respectively.
Spot gold was down 0.1% at $1,768.01 per ounce by 07:11 GMT while US gold futures eased 0.1% to $1,769 per ounce.
The COVID-19 pandemic has had a positive impact on work practices in the United Arab Emirates overall, and a large percentage of professionals across various sectors hope to continue working remotely.
Pakistan and the UAE enjoy strong fraternal ties, rooted deep in common faith and shared history and values. High-level visits between the two countries have played a pivotal role in providing further impetus to strengthening bilateral