Middle East ETF News Older than One Year
Palestine Exchange in the FTSE Frontier Markets Index
September 16, 2015--The FTSE Russell Governance Board approved the promotion of the Palestine Exchange to Frontier market status within the FTSE Country Classification scheme starting September 2016.
This promotion to Frontier Market status is a reflection of Palestine Exchange ability to meet the FTSE group qualities of markets criteria and a result of the continued improvement in corporate governance, operational integrity and transparency in Palestine's capital markets.
Source: Palestine Exchange
Gulf investor sentiment towards Saudi Arabia jumps-Invesco study
September 14, 2015--Gulf investors are increasingly planning to invest in Saudi Arabia on the back of confidence in its long-term economic performance and its opening to direct foreign investment, Invesco Asset Management said on Monday.
In its annual Middle East asset management study, the division of Invesco Ltd said the marked shift in opinion about deploying capital in Saudi Arabia came despite concerns over the immediate impact on the kingdom of lower oil prices.
Source: Zawya.com
Gulf investors may remain cautious due to oil, Fed
September 14, 2015--Equity investors in the Gulf may remain cautious about opening new positions on Monday, with oil prices falling again and global markets wobbling ahead of a U.S. Federal Reserve meeting.
Brent crude slipped 0.7 percent by 0500 GMT as weakening demand weighed on markets, although U.S. futures, down just 0.1 percent, received some support from reduced American drilling.
Source: Zawya
FTSE upgrades Qatar to secondary emerging market
September 13, 2015--FTSE Russel, the global leader in indexing, has upgraded Qatari market to Secondary Emerging Market.
Following its September 2015 annual review, FTSE announced Qatar will be promoted from Frontier to Secondary Emerging since the market meets the criteria required for the upgrade.
Source: www.thepeninsulaqatar.com
Pondering the highs and lows of Egypt's bourse
September 10, 2015--In the two years since the ouster of President Mohamed Morsi, officials have struggled to dig Egypt out of its economic rut.
Tourism, foreign investment and growth had all but dried up, while poverty and unemployment rates inched scarily upward. But the stock market seemed to be marching to the beat of a different drum.
Source: Zawya
Egypt: Country Bourse Gains Egp 5.6 Billion, Index Up By 2.03 Percent
September 9, 2015-- The Egyptian Exchange (EGX) indices rebounded at the close of Thursday's trading backed by
intensive purchases from Arab and foreign investors.
Source: AffAfrica.com
Bahrain oil price average hits $54 in eight months
September 3, 2015--This is roughly $6 less than estimated price,
which means there is a shortage in country's estimated revenue.
Source: AMEinfo
UPDATE 1-Dubai stocks close down 7.0 pct as Gulf slides
August 23, 2015--Dubai's stock market suffered its biggest one-day fall since last December on Sunday as bourses across the Gulf tumbled, hit by further weakness in oil prices and the decision by Fitch Ratings to cut its outlook for Saudi Arabia's debt.
The main Dubai index sank 7.0 percent to 3,451 points, its lowest close since March 30. Top real estate developer Emaar Properties plunged 8.3 percent while builder Arabtec dropped its 10 percent daily limit.
Source: Zawya
Saudi stocks plunge on oil, Fitch outlook cut; Egypt slides
August 23, 2015--The main Saudi stock index was down 5.2 percent at 7,594 points after 20 minutes of trade, nearing major technical support at the December low of 7,226 points. This brought its losses so far this month to 16 percent.
Selling was indiscriminate, with petrochemical producer Saudi Basic Industries Corp losing 5.6 percent, miner Ma'aden down 6.4 percent and Alinma Bank sinking 4.8 percent. view more
Source: Zawya
Fitch Ratings lowers outlook for Saudi Arabia to 'negative' from 'stable'
August 22, 2015--Fitch has lowered its outlook for Saudi Arabia to "negative" from "stable" on the back of lower oil prices and increased spending on infrastructure projects.
While the ratings agency affirmed its AA rating for the kingdom, it forecasts Saudi Arabia's general government deficit to widen to 14.4 per cent of gross domestic product this year.
Source: The National
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