Middle East ETF News Older than One Year
Govt fixed income risk ETF from Asia borrower set for QSE listing
May 13, 2015--An exchange traded fund (ETF) based on government fixed income risk from an Asian borrower, which is among three such funds, is all set to be listed on the Qatar Stock Exchange (QSE), apart from new listings in the main as well as the junior bourse for small and medium enterprises (SMEs).
Moreover, efforts are on to establish an 'on-exchange' market for private companies (similar in concept to the recently announce Nasdaq model) and corporate bonds to complement the existing government and T-bills market.
Source: Gulftimes.com
Saudi Arabia Likely to Be Classified as Emerging Market
May 7, 2015--Saudi Arabia, the Middle East's biggest economy, is likely to be classified as an emerging market following the opening of its $590 billion stock market to foreign investors in June, according to index compiler MSCI.
One of the last major markets globally to restrict foreign investments, Saudi Arabia this week issued rules that will govern international investors seeking direct exposure to some of the fastest-growing companies in the region.
Source: Wall Street Journal
Saudi Arabia issues final rules ahead of foreign opening of Stock Exchange
MAy 5, 2015--Opening up it's Bourse to foreign investors, Saudi Arabia looks to strengthen the Saudi Capital market's position to become a leading market. In addition to increase the opportunities of raising its rating to be classified as an emerging market under global indices.
In a confirming report from Reuters, starting next month on June 15th (originally scheduled for April, foreign investors will be able to make direct purchases of Saudi stocks, the Saudi Capital Markets Authority (CMA) stated yesterday.
Source: leaprate.com
IMF-Middle East Outlook Sees Modest Improvement, But Risks Remain
May 5, 2015--Steady growth in oil exporters despite oil price plunge, but they will need to curb spending
Higher growth expected in oil importers; spillovers from regional conflicts pose risk
Region needs structural, fiscal reforms to create jobs and lift growth
The Middle East and North Africa region is experiencing a modest economic recovery, despite the sharp drop in oil prices and deepening conflicts, the IMF says in its latest regional assessment.
view The IMF Regional Economic Outlook Update, Middle East and Central Asia, May 2015
Source: IMF
Tadawul holds steady on Saudi reshuffle
April 29, 2015--Stock market shows muted reaction to
top-level government and Aramco changes
Source: Meed
Egypt's growth reaches six per cent in H1
April 29, 2015--Egypt's economic indicators are good and growth rates have increased to about six per cent during the first half of the current fiscal year, says Finance Minister Hany Kadry.
Kadry says Egypt's fiscal policy aims at accelerating the economy, improving services and creating job opportunities, noting that citizens' needs still outweigh the financial resources available.
Source: AME Info
Foreign, institutional investors buy AED 1.1bn shares in Dubai
April 27, 2015--Strong return of institutional investors contributed to the market revival,
prompting many stock prices to achieve significant growth rates.
Source: AME Info
Analysis-Saudi Stock Market Update-Opening the Tadawul
April 19, 2015--On Thursday the Saudi Capital Market Authority announced the opening was set for June 15th and that final rules would be published on May 4th as reported by SUSTG.com.
The Jadwa Investment firm in Riyadh provides assessments and updates to Saudi economic conditions. Today they published an update to discuss the opening of the Saudi stock market, the Tawadul, to foreign investment.
Source: Susris
Moody's Raises Egypt's Credit Rating, Says Economy Improved
April 7, 2015--Moody's Investor Service has upgraded Egypt's credit rating, saying macroeconomic performance has improved and external vulnerabilities have been reduced.
In a statement, it ranked Egypt at B3 on its scale-speculative and subject to high credit risk-with a stable outlook, an improvement from its previous classification of Caa1.
Source: NY Times
BlueStar Israel Equity Update-Israeli Stocks Add to 2015 Gains
April 6, 2015--Israeli equities continued their upward move in March, buoyed by ample domestic liquidity in the current near-zero interest rate environment, a post-election "relief" rally and continued strength in global developed market equities.
The latter was particularly pronounced in Europe and Japan, where unorthodox monetary policy rules the day. March's gains came at the expense of higher volatility. The primary causes of this volatility was the uncertainty surrounding Israel's parliamentary elections and significant swings (+ 1 standard deviation) in the ILS/USD exchange rate.
Source: Blue Star
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