Middle East ETF News Older than One Year
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
IMF-Qatar: Selected Issues
April 2, 2015--STRENGTHENING FISCAL POLICY AND FISCAL
FRAMEWORKS IN QATAR1
Fiscal policy remains sustainable, but given the large drop in oil prices, revenue-raising and expenditure-containing measures need to be consid
ered to ensure intergenerational equity.
Measures aimed at containing current spending, prioritizing capital expenditure, and raising non-hydrocarbon revenues would help bring fiscal policy back to consistency with intergenerational equity.
Strengthening fiscal frameworks would help achieve the desirable fiscal policies.1.
This paper proposes ways to ensure that sustainable fiscal policy is maintained in the medium to long term in Qatar . It provides an overview of government's revenue and expenditure developments. The paper discusses various measures to increase nonhydrocarbon revenue such as broadening corporate income tax and introducing a low rate-broad based value added tax.
Source: IMF
S&P Dow Jones Indices-Middle East Index Dashboard
March 31, 2015--March was a challenging month for Middle Eastern equities. The S&P Pan Arab Composite LargeMidCap Index fell by 5.4%, wiping out most but not quite all of the year-to-date gains in the process.
A slim majority of our pan-regional indices remain in positive figures for the quarter; in the case of single countries, it is a significant minority.
March provided a rare moment in the spotlight for Lebanon's equity market, the S&P Lebanon BMI topped the charts, albeit with a small gain just over 1%; it was the only country to gain over the month and has over taken Saudi Arabia to become the leading country year-to-date.
Source: S&P Dow Jones Indices
Ooredoo gets shareholders’ nod for 40 per cent cash dividend
March 30, 2015--The Qatar Exchange 20 index extended its cautious rebound on Monday, March 30, closing 0.90 per cent higher at 11,586.83.
Ooredoo, the first telecom firm in the gas-rich Gulf state, lost 3.18 per cent to close at QAR99.90. Losses in this amount are normal when firms announce their dividend payout.
Source: AME Info
Banks demanded at Abu Dhabi market
March 30, 2015--The ADX General Index closed 1.40 per cent higher at 4,431.35 on Monday, March 30.
National Bank of Abu Dhabi, the first lender in the UAE capital, jumped five per cent to hit AED11.55.
Source: AME Info
Midcap shares lift Dubai exchange slightly
March 30, 2015--A roller-coaster trading session lifted the Dubai equity market index DFMGI by 0.20 per cent, closing at 3,444.65 on Monday, March 30, on negative market breadth and low turnover.
Thirteen shares advanced, while 15 stocks declined in value.
Source: AME Info
Kuwait is second in global trade, Saudi slumps
March 26, 2015--Kuwait is ranked second globally after Singapore for surpluses in its current account, reports Kuwait-based Alrai citing a recent survey.
The survey conducted by Bloomberg News and covering 75 countries and territories, ranked the winners in global trade based on surpluses in their current accounts – a broad measure of trade in goods and services – as a percentage of GDP. view more
Source: AME Info
Muscat market loses the most in the GCC
March 26, 2015--The Omani stock market index MSM30 dived 2.58 per cent to hit 6,112.91 points on Thursday, March 26.
The sentiment in Oman suffered the most due to the escalation of the crisis in...
Source: AME Info
Qatar market sinks deeper into the red
March 26, 2015--The Qatar Exchange 20 index slipped 0.81 per cent to reach 11,410.76 points on Thursday, March 26.
Since January 1, 2015, the gauge lost 7.12 per cent, making it the one of the worst performers in the GCC.
Source: AME Info
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