Middle East ETF News Older than One Year
UAE non-oil economy to grow 4% in 2025, driven by a surge in investment inflows
October 18, 2024-Non-oil growth will drive the UAE's economy in 2025, with a 4% growth projection, driven by higher investment inflows, which will partly be channelled through the financial and real estate markets.
The 'UAE Macro Outlook' by the National Bank of Kuwait (NBK) also highlights a robust expansion in private credit in 2024 that will maintain a positive momentum next year, coupled with a looser monetary policy, low inflation and a rising population that will prove supportive of consumer activity over the forecast period.
Source: zawya.com
Modest Growth Forecast for Economies in the Middle East and North Africa Amid Rising Uncertainty
October 16, 2024--While GDP is subdued in 2024, accelerating reforms would spur inclusive growth
Growth continues to be subdued in the Middle East and North Africa (MENA) because of uncertainties heightened by the conflict in the region, says the World Bank in its latest semi-annual MENA Economic Update, entitled Growth in the Middle East and North Africa.
The report forecasts the region's overall gross domestic product (GDP) growth to rise modestly to 2.2 percent in 2024 in real terms, up from 1.8 percent in 2023. This uptick is driven by Gulf Cooperation Council (GCC) countries, where growth is projected to rise from 0.5 percent in 2023 to 1.9 percent in 2024. In the rest of MENA, growth is expected to decelerate. Oil importers' growth is forecast to slow from 3.2 percent in 2023 to 2.1 percent in 2024, and that of non-GCC oil exporters to decline from 3.2 percent to 2.7 percent.
Source: worldbank.org/
Saudi Arabia leads in stock lending as short selling grows
September 25, 2024--Short selling requires stock lending
Lending fee revenue rising
Saudi companies dominate
Saudi Arabia is the Middle East's most active market for stock lending- an important part of the process of short selling-and demand from borrowers is likely to increase as more sophisticated investors start trading, new research suggests.
In stock lending, an entity-usually a broker or financial institution-pays a fee to borrow shares in a company from an investor in that company. The borrower uses the shares for short selling or other hedging strategies.
Source: agbi.com
ADX logs $506.4mln in ETF trading Jan-Aug 2024
August 30, 2024-The total value of ETF trading on the exchange reached AED1.863 billion in the first eight months of 2024
The Abu Dhabi Securities Exchange (ADX) has recorded significant value and volume of trading in exchange-traded funds (ETFs) since the beginning of this year, making it the most active and liquid ETF market in the Middle East and North Africa (MENA) region.
According to data obtained by the Emirates News Agency (WAM) from ADX, the total value of ETF trading on the exchange reached AED1.863 billion in the first eight months of 2024.
This strong activity and significant growth reinforces ADX's position as a preferred destination and a major regional hub for ETFs, while supporting its ambitious goals of attracting and listing ETFs from global issuers.
Source: zawya.com
TCW expands global footprint with opening of Dubai office
August 28, 2024-New location to focus on serving clients in the Middle East
The TCW Group, a leading global asset management firm, today announced that it has continued its global expansion with the opening of a new office in Dubai, UAE.
The new office, located in the Dubai International Financial Centre (DIFC), will focus on supporting and serving the investment needs of Sovereign and Institutional clients in the Middle East.
This new location represents TCW's first office in the Middle East. Over time, the Firm expects to expand its presence in the region.
Source: zawya.com
Saudi GDP growth set to turn positive in H2 2024
August 23, 2024-CreditSights maintains 'Outperform' call on the kingdom's sovereign bonds
Saudi Arabia's economic growth is expected to turn positive in second half of 2024 with GDP set to grow at 1.7% in 2024 and 4.7% in 2025, research firm Credit Sights said.
The oil-rich kingdom's real GDP shrank 0.4% year-on-year in Q2 2024, according to preliminary government data, as oil related activities declined. In 2023, real GDP shrank by 0.8% after rising 7.5% in 2022.
Source: zawya.com
Saudi targets Indian, Chinese, other Asian investors to boost stock market
August 22, 2024--Tadawul looks to tap into 'sheer size of investment dollars' from Asian investors
The Asian market is now a key target for the Saudi Tadawul Group Holding Co., according to the company's chief strategy officer, Lee Hodgkinson, during an episode of Tiger Money, a Bloomberg podcast.
He said the Saudi Stock Exchange (Tadawul) is interested in tapping into the "sheer size of investment dollars available that can come" from investors from China, India and other parts of Asia.
Saudi Arabia is looking to tap into investors from Asia to boost its local bourse.
Source: zawya.com
Capex super cycle: Saudi to invest $1trln in economy by 2030
August 16, 2024-Goldman Sachs report highlights nearly 73% of investment funds will go to non-oil sectors by 2030
Saudi Arabia is poised to invest $1 trillion in a "capex super cycle", with 73% of the capital infusion designated to fuel the kingdom's non-oil economy by 2030, according to Goldman Sachs.
Goldman Sachs also highlights an estimated $25 billion-per-year funding gap for the country's capex projects, while shifting focus on alternative sources of financing to address liquidity concerns.
Saudi Arabia's realignment on developing its non-oil economy has seen a notable shift from the earlier forecast, which pegged the country’s non-oil investment at 66%, Faisal AlAzmeh, who heads CEEMEA equity research at the US-based investment bank, said.
Source: zawya.com
ETFs focusing on Saudi equities debut in China
July 16, 2024--The move comes as the two countries look to deepen their financial ties
Investors in China now have the option to trade in Saudi Arabian equities following the debut of two exchange traded funds in Shanghai and Shenzhen, as the two countries deepen their financial ties.
AGIX tracks the Solactive Etna Two ETFs focused on Saudi Arabain equities debuted today in Shenzhen and Shanghai in China.
The China Southern Asset Management CSOP Saudi Arabia ETF QDII is listed in Shenzhen, and the Hautai-Pinebridge CSOP Saudi Arabia ETF QDII is trading in Shanghai. According to Bloomberg, both the Shenzhen and Shanghai listings, which raised $87 million and $81.2 million respectively, traded close to their listing prices as of 10.20am local time, following their debut.
Source: zawya.com
More Diversified Trade Can Make Middle East and Central Asia More Resilient
May 13, 2024--Reducing trade barriers, easing regulatory constraints, and upgrading infrastructure can mitigate challenges and help countries leverage new opportunities.
Dislocations from the pandemic, geoeconomic fragmentation, and Russia's war in Ukraine have shifted world trade dynamics.
While this has created challenges, the redirection of trade has also generated new opportunities, particularly for the Caucasus and Central Asia.
Since the war began, the region's economies have shown continued resilience and trade activity in many countries has surged, fueled in part by alternative trade routes. In 2022, Armenia, Georgia, and the Kyrgyz Republic saw their share of trade excluding oil and gas with major partners such as China, the European Union, Russia, and the United States rise as much as 60 percent. Hence, despite some moderation, gross domestic product growth in the Caucasus and Central Asia is projected to remain robust at 3.9 percent in 2024 before picking up to 4.8 percent in 2025.
Source: imf.org
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