Middle East ETF News Older than One Year
Economic growth in MENA, on track as oil production cuts ease
January 17, 2025--Non-hydrocarbon economic activity to remain robust across the region, says Moody's
Economic growth in the Middle East and North Africa (MENA) region will accelerate to 2.9% in 2025 from an estimated 2.1% in 2024 amid partial unwinding of oil production cuts, Moody's Ratings said.
Inflation-adjusted real GDP growth for the region's hydrocarbon exporters will surge to 3.5% this year from the 1.9% forecast for 2024, supported by Saudi Arabia, the UAE, Iraq, Kuwait, and Oman who have started to reverse some of their oil production cuts implemented in 2023, said Alexander Perjessy, Vice President-Senior Credit Officer at Moody's.
Source: zawya.com
Saudi Arabia's PIF invests $200m in JP Morgan fund
January 9, 2025-PIF adds exchange-traded fund
Listed on LSE and Deutsche Borse
Total assets of $241 million
Saudi Arabia's Public Investment Fund has invested $200 million in a recently launched exchange-traded fund that tracks dollar-denominated bonds and sukuk issued by the kingdom's government and quasi-state entities.
The JP Morgan Saudi Arabia Aggregate Bond UCITS ETF, created in mid-December, is the first internationally listed fixed-income Saudi Arabian ETF.
Source: agbi.com
Indxx Licenses Bitcoin Reference Index to Migdal Mutual Funds Ltd. for an ETF
December 31, 2024-Indxx, a provider of indexing solutions for exchange traded funds (ETFs), is pleased to announce the licensing of the Indxx Bitcoin Reference Index to Migdal Mutual Funds Ltd. as the underlying benchmark for the MTF (4D) Indxx Bitcoin Reference Index Fund (5139886) which began trading today on the Tel Aviv Exchange.
The Indxx Bitcoin Reference Index is a daily benchmark designed to provide a reliable and transparent reference price for Bitcoin.
Rahul Sen Sharma, President, and Co-CEO at Indxx said, "The cryptocurrency market has experienced remarkable growth in recent years, with Bitcoin solidifying its position as a leading cryptocurrency. In December 2024, it achieved an all-time high exceeding $107,000, showcasing its potential for significant returns.1
With its low correlation to traditional asset classes, Bitcoin offers valuable diversification, which has drawn increasing interest from investors. As more countries embrace cryptocurrency, we anticipate continued global expansion in this market. We are excited to partner with Migdal Mutual Funds Ltd. to bring this innovative investment strategy to Israeli investors."
Source: Indxx
Expect a more subdued Dubai bourse in 2025
December 25, 2024-Dubai bourse up 24.5% this year
Kuwait shows strong potential
Oil prices could slow growth
Following a stellar 2024, Dubai's index is likely to join other Gulf bourses in experiencing a more subdued 2025.
Dubai’s growing population, record tourism and trade revenues and a near-doubling of residential property prices since January 2021 helped to propel the emirate's bourse to a 10-year peak last week.
Source: agbi.com
Italy's Azimut and China Universal team up on Abu Dhabi ETF link
December 19, 2024----Azimut will launch a fund in Abu Dhabi to invest in a China Universal ETF in Shanghai and vice versa
Fidelity Investments will become the first asset manager to convert an index mutual fund into an ETF, according to industry analysts.
Italian asset manager Azimut Group and China Universal Asset Management are teaming up to launch an exchange traded fund that will be listed in Abu Dhabi as well as a second ETF in Shanghai to give Chinese and United Arab Emirates investors access to each other’s equities markets.
Source: ft.com
IMF-Kuwait: Selected Issues
December 9, 2024-Summary
The economy remains in recession, but a recovery has begun in the non-oil sector, and inflation is moderating. Lower oil prices and production have weakened the external and fiscal balances, while financial stability has been maintained.
The risks around the outlook are skewed to the downside, but substantial financial buffers are a source of resilience to external shocks.
These are accumulating share classes in which the returns are reinvested.
Source: IMF.org
BlackRock gets Abu Dhabi license to tap into region's capital markets
November 18, 2024--The US asset manager's Abu Dhabi move comes weeks it announced plans to set up its regional headquarters in Saudi Arabia
The world's biggest asset manager BlackRock Inc has obtained a commercial license in Abu Dhabi and has revealed plans to seek regulatory approval to operate in the Abu Dhabi Global Market (ADGM).
The news comes weeks after the US asset manager, with $11.4 trillion in AUM, announced its plans to set up its regional headquarters in Saudi Arabia.
BlackRock said the Abu Dhabi move will allow it to work with sovereign wealth funds, wealth managers and investment vehicles based in the UAE capital, with a focus on AI infrastructure and transition focused solutions.
Source: zawya.com
Mideast Stocks: Saudi bourse falls on oil; Qatar gains
November 10, 2024--Saudi Arabia's benchmark index fell 0.2% in a choppy trade
Saudi Arabia's stock market ended slightly lower on Sunday after a fall in oil prices at the end of last week, while banking shares helped lift Qatar's benchmark index.
Saudi Arabia's benchmark index <.TASI> fell 0.2% in a choppy trade, hit by a 4.6% fall in ACWA Power Company <2082.SE> and a 3.3% decline in Saudi Arabian Mining Co <1211.SE>.
Oil prices-a catalyst for the Gulf's financial markets- settled more than 2% lower on Friday as traders grew less fearful of prolonged supply disruptions from a hurricane in the U.S. Gulf of Mexico, while China's latest economic stimulus packages failed to impress some oil traders.
Source: zawya.com
ETF tracking HK-listed equities debuts on Saudi Exchange
November 1, 2024--A new exchange-traded fund (ETF) tracking Hong Kong-listed stocks,the SAB Invest Hang Seng Hong Kong ETF,has debuted on the Saudi Exchange on Thursday,following the launch of Saudi Arabia's first ETF tracking the Hong Kong equity market on the Saudi bourse on Wednesday.
Observers said the listings marked a milestone in strengthening the financial connections between the Chinese and Middle East markets.
Source: globaltimes.cn
Duo dream big with Abu Dhabi's first tokenised treasuries fund
October 31, 2024--Fund launched on ADGM
Blockchain-based token
Targeting crypto users
The first tokenised treasury bill fund licensed in the Abu Dhabi Global Market launched on Thursday, with its creators hoping to attract $100 million from investors within a year.
Such funds buy United States treasuries, which are US government bonds, and then create a blockchain-based token to represent these assets, thereby enabling digital, fractional ownership that may prove more liquid and accessible.
Source: agbi.com
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