Dubai shares climbed the most in two weeks, led by property developer Deyaar Development PJSC, after gains in emerging markets and better-than-expected corporate earnings boosted sentiment. Saudi Arabia’s gauge also rose.
House Republican leaders are giving up efforts to couple a U.S. debt-limit increase with measures backing the Keystone XL pipeline or revoking an Obamacare insurance provision, two party leadership aides said.
The rand’s slump to a five-year low is souring investor confidence toward South Africa, complicating Finance Minister Pravin Gordhan’s efforts to cut the fiscal deficit as government borrowing costs rise.
Argentina’s economic disarray has played a leading role in turning investors against emerging markets in recent days. Multiple policy errors and the prospect of tighter U.S. monetary policy fueled a surge of pessimism that drove down the peso and overwhelmed the government’s currency controls. The administration of President Cristina Fernandez de Kirchner announced a loosening of those restrictions Friday: She had no choice.