By: Mahmoud Gamal
Dubai – Mubasher: The UAE bourses are expected to see a positive performance on Wednesday following President Donald Trump’s decisions of withdrawing the US from the Iran nuclear deal, analysts told Mubasher.
On Tuesday, Trump decided to walked away from the Iran nuclear deal, stressing he would reinstate the US economic sanctions imposed on Iran before the deal was signed in 2015.
Saudi Arabia and Bahrain have announced their endorsement of Trump’s decisions of the US exit from the Iran nuclear deal.
Trump’s decision will remarkably impact the global economies, particularly the GCC economies, senior financial analyst at Menacorp Financial Services Issam Kassabieh said.
Oil prices are expected to hike, therefore, revenues of the GCC countries from oil are likely to rise, mainly in Saudi Arabia, the UAE, and Kuwait, Kassabieh highlighted.
These countries may re-pump the revenues into the economic sectors, such as projects of the listed-firms and direct investments in stocks, he noted.
Translated by: Mai Ezz El-Din
