Middle East ETF News Older than One Year
Monthly markets review: Stocks in Kuwait and Saudi Arabia outperform in a dull market phase
April 4, 2019--Kuwait's premier market index rises 9% in March, Oman's exchange continues downward slide
Investors in the Middle East were mostly cautious during the month of March, reflecting the calmness in global markets following a rally at the beginning of the year.
Source: Zawya.com
Mideast Stocks: Banks lift Saudi, Dubai continues to rally on Emirates NBD deal
April 4, 2019--Saudi Arabia's stock market marked its ninth session of gains on Thursday, led by banking shares, while Emirates NBD's deal to buy Turkey's Denizbank lifted Dubai's main index.
Source: Zawya.com
World Economic Forum-The Middle East and North Africa Risks Landscape
April 4, 2019--The Middle East and North Africa Risks Landscape briefing paper comes at a time when technological and geopolitical forces are reshaping regional landscapes. The technological breakthroughs of the Fourth Industrial Revolution are bringing opportunity but also risk for those unprepared to adapt.
At the same time, fractures between global stakeholders-including geo-economic tension-are adding another layer of risk for the region.
Because the Middle East and North Africa is home to more natural-resources dependant economies than skills-driven ones, and because the region houses existing political and societal divides, the impacts of technological and geopolitical disruptions may be more pronounced here than elsewhere.
Source: World Economic Forum
Lipper U.S. Weekly FundFlows Insight Report: Funds Take in Net New Money Driven by Demand for Taxable Bond Funds
April 4, 2019--Lipper's fund asset groups (including both mutual funds and ETFs) experienced net inflows of $1.9 billion for the fund-flows trading week ended Wednesday, April 3.
Taxable bond funds (+$3.7 billion) took in the most net new money, while money market funds (+$1.4 billion) and municipal debt funds (+$714 million) also contributed to the net positive flows. Equity funds (-$3.9 billion) were the lone asset group to experience net outflows.
Market Overview
The major equity indices all posted positive returns for the fund-flows trading week. The NASDAQ Composite Index (+3.30%) led the gains, while the S&P 500 Index and the Dow Jones Industrial Average posted solid increases of 2.42% and 2.31%, respectively. All of the indices recorded double-digit gains, paced by the NASDAQ (+16.49%) and followed by the S&P 500 (+13.07%) and the Dow (+11.15%). The markets took strength on optimism over the progress of trade talks between the U.S. and China, as well as better than expected manufacturing data from the same two countries.<>view more
Source: Refinitiv
Mideast Stocks: Emirates NBD's $2.8bln Turkish deal lifts Dubai
March 3, 2019--Dubai's stock market rose on Wednesday led by gains in its largest bank Emirates NBD after it signed a $2.8 billion deal to buy Turkey's Denizbank, while Saudi Arabia edged up on the back of its banks.
Source: Zawya.com
Mideast Stocks-Emirates NBD jumps to 11-year high, lifts Dubai
April 3, 2019--Dubai's stock market rose on Wednesday, lifted by gains in top lender Emirates NBD after it agreed to buy Turkey's Denizbank, while Saudi Arabian stocks climbed as banks rose across the board.
Source: Zawya.com
IMF Staff Country Report-Kuwait- Financial System Stability Assessment
April 3, 2019--Summary:
Since the 2010 FSAP, the financial system has withstood the real-life stress test of a severe drop in oil prices and the authorities have strengthened their framework. Banks, which constitute the largest part of the financial sector, have maintained high capital ratios, comfortable liquidity buffers, and high provisions, while nonperforming loans (NPLs) reached historic lows in 2017.
The authorities proactively developed their regulatory and supervisory framework, notably by implementing Basel III for banks and establishing a regulatory and supervisory agency for capital markets, the Capital Markets Authority (CMA). Kuwait's limited economic diversification (characteristic of small oil-dependent economies) is directly reflected in the bank-centric financial sector. Banks have high concentrations to single borrowers, large depositors, and sectors, as well as significant common exposures. Risks to the financial sector are mostly external, stemming from oil price shocks, geopolitical tensions, and global financial developments. The risks are mitigated by sizeable sovereign financial assets, and by the ability of public entities to provide liquidity through large deposits.
view the IMF Staff Country Report-Kuwait- Financial System Stability Assessment
Source: IMF
Mideast Stocks-Emaar, Emirates lift Dubai; petrochemicals aid Saudi
April 2, 2019--Dubai's stock market rose for the fourth straight session to a four-month high on Tuesday, lifted mainly by gains in heavyweights Emaar Properties and Emirates NBD, while petrochemical stocks buoyed Saudi Arabia.
Source: Zawya.com
Abu Dhabi's GDP grows 3.7% in Q4
April 2, 2019--The emirate of Abu Dhabi's gross domestic product (GDP) at current prices grew 3.7% to AED 203.2 billion in the last three months of 2018, against AED 195.9 billion in the corresponding period of 2017.
Source: Zawya.com
World Bank MENA Economic Update: Reforms and External Imbalances: The Labor-Productivity Connection in the Middle East and North Africa
April 1, 2019--World Bank economists expect economic growth in the Middle East and North Africa (MENA) to continue at a modest pace of about 1.5 to 3.5 percent during 2019-2021, with some laggards and a few emerging growth stars. While some MENA economies have maintained what this Update calls "unexplained" current account balances for several years, fiscal policy has lost some of its historical role as a driver of the current account.
In addition, the region's capacity to recirculate savings from one country to another also seems to have weakened, most notably since 2014, when the global restructuring of the oil market became abundantly apparent. The declining movement of savings across borders suggests that regional economies that tended to finance trade and current account deficits of other economies now face declining current accounts themselves. In the medium- to long-run, therefore, existing excess current account deficits must shrink gradually rather than wait until souring capital flows force current account deficit reversals upon MENA economies.
Source: World Bank
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