Middle East ETF News Older than One Year
Dubai pulls back after speculative rally
June 11, 2015--Widespread profit-taking dragged Dubai's stock market lower in early trade on Thursday after oil prices slipped, while other Gulf bourses were narrowly mixed.
Dubai's index dropped as much as 2.1 percent before trimming its losses to 1.4 percent as it retreated from Wednesday's six-week closing high of 4,187 points. The benchmark had jumped 4.3 percent in the two previous sessions as some stocks surged on speculative buying.
Source: Zawya
Qatar cuts forecast for GDP growth in 2015 expecting deficit in 2016
June 10, 2015--"Oil prices continue to pose a significant risk to economic outlook"-Ministry
Source: AMEInfo
Egypt eyes 4.5 per cent GDP growth in current fiscal year
June 10, 2015--Government's current strategy plans on removing all hindrances at stock market
Source: AMEInfo
Gulf markets may move sideways, lacking catalysts
June 9, 2015--Oil staged its first rally in three days on Friday, gaining 2 percent, despite warnings of more oversupply as a result of OPEC's decision to keep pumping crude without restraint.
But for the week, Brent fell 3.6 percent.
Source: AMEInfo
Gulf markets slip but Dubai's Amlak surges again
June 4, 2015--Major Gulf stock markets edged down in early trade on Thursday after oil prices declined and the United States said it was investigating Qatar's winning bid for the 2022 soccer World Cup, but Dubai mortgage firm Amlak Finance surged in heavy trade.
Amlak was the most traded stock in Dubai and rose 12 percent after surging by its daily 15 percent limit in the previous session.
Source: Zawya
IMF Staff Completes 2015 Article IV Mission to the United Arab Emirates
June 4, 2015--The outlook for economic activity is expected to moderate with non-hydrocarbon growth projected at 3.4 percent in 2015 amid lower oil prices and an appreciation of the real effective exchange rate.
Sales prices in the real estate market have stabilized, but increases in rents more than offset the dampening effect of U.S. dollar appreciation on imported prices, pushing up inflation, which is expected to reach 3.8 percent on average in 2015.
Source: IMF
Saudi Stock Exchange activity slows
June 4, 2015--Index falls as Tadawul prepares for foreign investors.
Source: Meed
Saudi Arabia slips as oil falls; Egypt also soft
June 4, 2015--The main Saudi stock index edged down 0.2 percent as most blue chips declined.
Petrochemicals sector leader Saudi Basic Industries was down 0.7 percent.view more
Source: AME Info
Gulf edges up, tracking oil, volatile Amlak dominates Dubai
June 2, 2015--Gulf stock markets rose on Tuesday after oil prices edged up and mortgage company Amlak Finance, which dominated activity in Dubai,
pared early losses to close flat as it resumed trading following a suspension of nearly six years.
Source: Zawya
IMF Staff Completes 2015 Article IV Mission to
June 1, 2015--"The decline in oil prices is resulting in substantially lower export and fiscal revenues, but the effect on the rest of the economy has so far been limited. Real GDP growth is projected by IMF staff at a healthy 3.5 percent this year, unchanged from 2014, with an increase in oil production and continued government spending expected to support the economy.
Growth, however, is projected to slow to 2.7 percent in 2016 as government spending begins to adjust to the lower oil price environment. Over the medium-term, growth is expected to be around 3 percent. Inflation is likely to remain subdued.
An International Monetary Fund (IMF) team led by Tim Callen held discussions from May 17-28 on the 2015 Article IV Consultation with Saudi Arabia.
Source: IMF
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