The Dubai International Financial Centre (DIFC) has implemented the new changes to the Employment Law that require contributions to a savings scheme for Gulf nationals working at the financial hub.

Stock markets in United Arab Emirates declined on Friday, in line with global equities after a bigger-than-expected hike in U.S. inflation dashed hopes of early rate cut. MSCI’S global equity index was down 0.2%, while Hong Kong’s Hang Seng Index slid 1.4%. The mood turned cautious after a bigger-than-expected rise in producer prices in U.S. data on Thursday added to a hot consumer inflation reading earlier in the week.

MSCI’S global equity index was down 0.2% on Friday and flat for the week, following a strong rally for most of the first quarter of the year

Oil demand will continue to increase and crude will maintain its status as a main energy resource for long decades

A Reuters poll had expected the rate to ease to 2.5% last month. The consumer price index fell 0.4% in February from January

Brent crude oil futures were down 45 cents or 0.6% to $84.83 a barrel at 1155 GMT, a day after topping $85 a barrel for the firs