Middle East ETF News Older than One Year
Mideast Stocks: Saudi snaps five days of gains with most Gulf markets subdued
November 24, 2019--Egypt falls for a fifth day
The Saudi Arabian stock market snapped a five-day rising streak on Sunday with lenders taking a breather after riding high on a lending boom related to Saudi Aramco's public listing.
Other markets in the region were mostly lower as concerns surrounding global trade persisted.
Source: Zawya.com
IMF Making the Most of Capital Flows in the Middle East and Central Asia
October 28, 2019--As economies in the Middle East and Central Asia become increasingly integrated into global capital markets, a central question has emerged: How can countries reap the benefits of capital inflows while guarding against the risks posed by sudden market shifts? Capital inflows can take several forms, such as foreign direct investment (FDI), portfolio flows, and wholesale funding to banks.
view the IMF Regional Economic Outlook: Middle East and Central Asia
Source: IMF
MENA Economic Update: Reaching New Heights: Promoting Fair Competition in the Middle East and North Africa
October 9, 20199--The Middle East and North Africa (MENA) needs bolder and deeper economic reforms. GDP growth is projected to be 0.6% in the region in 2019, a fraction of what is needed to create enough jobs for the fast-growing working-age population. Even in those few countries that have had periods of higher growth, poverty failed to decline, suggesting a need for reforms to instill fair competition and promote inclusive growth.
It is time for MENA countries to focus on both demonopolizing their markets and harnessing the collective domestic demand of their economies to achieve export-led growth regionally and internationally.
Part I discusses the short- and medium-term growth prospects for countries in the Middle East and North Africa. The region is expected to grow at a subdued rate of 0.6% in 2019, rising to 2.6% in 2020 and 2.9% in 2021. The growth forecast for 2019 is revised down by 0.8 percentage points from the April 2019 projection.
Saudi Arabia seeks to ease path for foreign listings
October 7, 2019--But some commentators questioned its appeal either to investors or to companies seeking to list their shares on the exchange, known as the Tadawul.
The new rules would make it easier for foreign companies to list on the main market and promote trading and listing on the secondary market, known as NOMU, the CMA said.
Source: FT.com
Saudi Arabia Weighs Selling Dollar Sukuk as Soon as October
September 29, 2019--Sale would come weeks after the attacks on Aramco facilities
Kingdom has raised $10.9 billion on global markets this year
Saudi Arabia is considering selling a dollar-denominated Islamic bond as early as next month as the kingdom seeks to take advantage of lower borrowing costs, according to people with knowledge of the matter.
The government is close to hiring banks for the possible sukuk, the people said, asking not to be identified because the information is private. A spokesman for the Finance Ministry didn't immediately respond to requests to comment.
Source: Bloomberg
Egypt protests wipe out stock market gains
September 27, 2019--Cairo bourse is world's second-worst performer this week after anti-corruption demonstrations
Source: FT.com
Saudi oil output bounces back after attacks
September 25, 2019--Kingdom's production is back up at 8m barrels a day, say insiders
Source: FT.com
Saudis race to restore oil output after Aramco attacks
September 16, 2019--Saudi Arabia is racing to restore oil production after a brazen drone strike on a key Aramco facility slashed its output by half, removing about 5% of world supply.
Source: FIN24
Saudi stocks tumble as tensions surge after Aramco drone attacks
September 15, 2019--Saudi Arabian stocks sank after drone strikes highlighted the vulnerability of the kingdom's oil facilities to terror attacks.
Source: FIN24
IMF Staff Country Report-Saudi Arabia: Selected Issues
September 10, 2019--POLICIES TO DRIVE DIVERSIFICATION FOR SAUDI
ARABIA1
Diversification is needed to create jobs for Saudis and to mitigate the impact of uncertainty in oil markets. While the business climate should be improved, and remaining infrastructure gaps addressed, reforms need to go beyond these areas.
Diversification in Saudi Arabia that creates jobs for nationals could be held back by the effects of relatively high wages and their impact on cost competitiveness. Creative solutions are needed to address the impact of high government wages and employment on competitiveness. Industrial policy could help overcome the incentives that encourage companies to focus on the non-tradable sector, but should be handled carefully, keeping lessons from other countries’ experiences in mind. Export orientation and competition are crucial mechanisms to ensure discipline. Strengthening human capital to raise productivity and provide workers with the skills needed in the private sector will be essential to success.
view the IMF Staff Country Report-Saudi Arabia: Selected Issues
Source: IMF
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