{
  "id": 10451363,
  "title": "Most Gulf bourses retreat after Trump dismisses Iranian overture",
  "url": "https://urgent.news/2026/09/28/most-gulf-bourses-retreat-after-trump-dismisses-iranian-overture",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-28T13:21:29.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40441624/most-gulf-bourses-retreat-after-trump-dismisses-iranian-overture"
  },
  "original_language": "en",
  "account": "Most equity markets in the Gulf region experienced a decline on Monday following US President Donald Trump's dismissal of Iran's proposal to reopen the Strait of Hormuz. Iran proposed diplomacy as the sole pathway forward, having conveyed its UN-approved framework to the United States via Qatar. President Trump labeled the overture as a sign of Iranian desperation.\n\nSaudi Arabia's benchmark index fell by 1%, driven by a 1.7% drop in Saudi National Bank, the country's largest lender in terms of assets. Saudi Aramco, an oil major, also declined by 1.1%. Saudi Foreign Minister Prince Faisal bin Farhan visited Washington on Monday for discussions with US Secretary of State Marco Rubio, according to state media.\n\nQatar's index slipped by 0.5%, with Qatar Fuel falling by 3.1%. Dubai's principal share index saw a modest gain of 0.3%, bolstered by a 1.4% increase in Emirates NBD, the top lender in Abu Dhabi. In Abu Dhabi, the index lost 0.4%.\n\nDiplomatic tensions escalated over the weekend as the Saudi-led coalition intercepted a barrage of Houthi ballistic missiles and drones aimed at the kingdom. Outside the Gulf, Egypt's blue-chip index closed 1.1% lower, with the Saudi benchmark dropping 1% to 10,579. Abu Dhabi experienced a decline of 0.4% to 10,159, while Dubai gained 0.3% to 5,998. Qatar saw a 0.5% drop to 9,410, and Egypt's index decreased by 1.1% to 52,469. Bahrain slipped by 0.1% to 1,906, while Oman gained 0.6% to 7,590, and Kuwait added 0.1% to 9,240.",
  "summary": "Most Gulf equity markets ended lower on Monday after US President Donald Trump dismissed an Iranian proposal to reopen the Strait of Hormuz. Iran said diplomacy remained the only path forward, having put its UN-announced framework to Washington through Qatari intermediaries. Trump dismissed the overture as a sign of Iranian desperation. Saudi Arabia’s benchmark index dropped 1%, hit by a 1.7%…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "The National Business",
        "title": "Iranian exiles urge Trump not to stop at nuclear deal",
        "url": "https://urgent.news/2026/09/28/iranian-exiles-urge-trump-not-to-stop-at-nuclear-deal",
        "published": "2026-09-28T13:02:04.000Z"
      },
      {
        "outlet": "Hindustan Times - World News",
        "title": "Trump offered arms deal to China's Xi, says US envoy; reveals what led to the proposal",
        "url": "https://urgent.news/2026/09/28/trump-offered-arms-deal-to-chinas-xi-says-us-envoy-reveals-what-led",
        "published": "2026-09-28T13:09:56.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}