07:40 AM EDT, 10/28/2026 (MT Newswires) -- Stock trading in the United Arab Emirates ended lower as markets await the US Federal Reserve's latest monetary policy decision amid high energy prices and lingering Middle East uncertainty. At the close of Wednesday trading, the FTSE ADX General Index declined 1.599%, while the DFM General Index was 0.331% in the red. The US Fed is widely expected to adopt a wait-and-see approach and hold rates steady in the 3.75% to 4.00% range, even as inflation remains above the 2% target. The meeting follows a decision to hike rates by 25 basis points in September. "While years of above-target inflation coupled with the more recent acceleration in consumer and producer costs in September should be more than enough to justify a second-round hike near term, Committee members have voiced a desire for a more patient approach to any additional policy firming. While the majority of the Committee continues to support at least some policy adjustments higher, the more cautious rhetoric from officials as of late suggests the next move will likely be postponed until year-end," Stifel said. On the geopolitical front, Iran was handed over a new draft deal by Qatari mediators on Sunday to end its eight-month-long conflict with the US, with a response from the Middle Eastern country expected by the end of this week, Reuters reported, citing an official. Back home, Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Canadian Prime Minister Mark Carney discussed ways to boost bilateral trade and investment, expand economic partnerships, and advance cooperation in artificial intelligence, defense, clean energy, infrastructure and logistics, and food security sectors. Over to corporates, Emirates Mobility Co. (ADX:EMOBILITY) reported a year-over-year decline in attributable profit in the third quarter amid soft demand in the travel segment and ongoing regional developments. The driver training school operator closed the session 0.89% lower. Elsewhere, Dubai Taxi Co. (DFM:DTC) and National Taxi extended their strategic partnership with e-hailing taxi services company Hala by five years to offer booking of over 7,700 taxis, excluding the airport fleet, through Hala on the Careem application. Dubai Taxi gained 0.46% at closing.

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