Middle East ETF News Older than One Year
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
Egypt's Economic Update-April 2019
April 1, 2019--Egypt's economic growth has been robust, averaging 5.3 percent in FY2017/18; a rate that was sustained through Q1-FY2018/19, driven by an expansion in the gas extractives, tourism, manufacturing, construction and ICT sectors. Private investment is picking up and net exports are improving.
There is however evidence that non-oil private activities continue to be hampered by the cumbersome business environment, including non-tariff measures and poor institutional capacity at the borders that constrain trade. Consequently, job creation remains modest.
view the Egypt's Economic Update-April 2019
Source: World Bank
Mideast Stocks: Dubai hits one-month high, major Gulf markets rise
April 1, 2019--Dubai's stock market hit a one-month high on Monday, partly lifted by its largest bank Emirates NBD as one of its businesses prepares to list on the London Stock Exchange, while Qatar rose on back of its blue-chip banks.
The Dubai index added 1.5 percent with Emirates NBD gaining 3 percent.
Source: Zawya.com
MENA fund managers increase investments in UAE, Egypt: poll
March 28, 2019--Middle Eastern funds plan to increase their investments in the United Arab Emirates (UAE) and Egypt over the next three months, while largely keeping their exposure to other countries in the region at current levels, according to a Reuters poll.
Source: Zawya.com
Mideast Stocks: Saudi's SABIC loses steam, ex-dividend stocks hit Abu Dhabi
March 28, 2019--Saudi Arabia's stock market rose on Thursday aided by its banks, even as Saudi Basic Industries (SABIC) gave up most of its early gains spurred by news of Aramco's purchase of a large stake in the petrochemicals group.
Abu Dhabi edged down as some stocks traded ex-dividend.
Source: Zawya.com
Mideast Stocks: Blue-chips lift Qatar, Banks boost Saudi
March 27, 2019--Qatar's stock market rose on Wednesday, lifted by shareholder approval for an increase in foreign ownership limits at Qatar Fuel and Mesaieed Petrochemical, while Saudi Arabia rose on the back of its banks.
Source: Zawya.com
Mideast Stocks: Uber-Careem deal boosts Saudi, real estate hurts Dubai
March 26, 2019--Saudi shares rose on Tuesday boosted by a 10 percent surge in travel operator Al Tayyar Group, a shareholder in ride hailing app Careem which Uber has agreed to buy.
Source: Zawya.com
Mideast Stocks: Egypt hit by sell-off of blue chips, financials lift Qatar
March 25, 2019--Egypt's index fell sharply on Monday, pulled down by its blue-chip shares, while Qatar's index was lifted by its financial stocks.
The Egyptian blue-chip index dropped 1.2 percent, with 26 of its 30 stocks declining.
Source: Zawya.com
Mideast Stocks: Saudi near-4 year high days after entering FTSE Russell index
March 21, 2019--All of Saudi Arabia's banks rose on Thursday, lifting its stock exchange to a near-four year high following its inclusion in the FTSE Russell's emerging-market index this week.
Saudi's Tadawul index will have a weighting of 2.9 percent in the FTSE Emerging All Cap Index and this year will join the MSCI emerging market benchmark.
Source: Zawya.com
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