Middle East ETF News Older than One Year
Monthly markets review: Region's stock markets make strong start to 2019, Saudi outperforms in January
February 5, 2019--Stock markets in the Middle East mostly made strong gains in January, tracking a rise in global markets and oil prices during the month. In most cases, markets were also buoyed by fourth quarter earnings results.
Saudi Arabia and Egypt's indices outperformed the region, while Oman's index was the sole loser among its peers in the Gulf.
Source: Zawya.com
Mideast Stocks: Egypt continues winning streak, banks boost Saudi
February 5, 2019--Egypt's blue-chip share index rose sharply on Tuesday boosted by major lender Commercial International Bank after its strong fourth-quarter earnings, while banks also lifted Saudi Arabia's stock market.
Source: Zawya.com
FTSE Russell, Nasdaq Dubai to start Saudi equity indexes for derivatives trading
February 4, 2019-- Nasdaq Dubai has signed a licence agreement to launch derivatives based on FTSE Russell's Saudi Arabia equity indexes in the coming months, the two companies said on Monday.
Source: Zawya.com
Mideast Stocks: FAB elevates Abu Dhabi, COMI lifts Egypt
January 4, 2019--Abu Dhabi stock market rose sharply on Monday, buoyed by First Abu Dhabi Bank after it proposed an increase in the foreign ownership limit, while Egypt's blue-chip index was lifted by its top lender Commercial International Bank .
Source: Zawya.com
IMF Executive Board Concludes 2018 Article IV Consultation with the United Arab Emirates
February 1, 2019--On November 26, 2018, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with the United Arab Emirates.
The economy is starting to recover from the 2015-16 slowdown caused by a decline in oil prices. Growth momentum is expected to strengthen in the next few years with increased investment and private sector credit, improved prospects in trading partners, and a boost to tourism from Expo 2020.
Non-oil growth is projected to rise to 3.9 percent in 2019 and 4.2 percent in 2020. The oil sector's prospects have also improved with higher oil prices and output. Overall real GDP growth is projected at around 3.7 percent for 2019-20. Inflation is expected to remain low, notwithstanding the introduction of the value-added tax (VAT) earlier in 2018. Although nonperforming loans rose during the slowdown, banks remain liquid and well capitalized.
Source: IMF
Egypt shares jump 4.6% this week on expectations of a rate cut
January 31, 2019--Expectations that Egypt would cut interest rates and improved performance across emerging markets pushed up the country's stocks 4.6 percent this week, with some analysts expecting the trend to continue in coming weeks.
Source: Zawya.com
New Saudi-MSCI index dips; earnings boost Dubai
January 31, 2019--Saudi Arabia's stock market, which introduced the MSCI Tadawul 30 index, fell on Thursday as its bank stocks slid, while Dubai gained sharply lifted by corporate earnings results.
Source: Zawya.com
ETFGI reports ETFs and ETPs listed in the Middle East and Africa saw outflows of US$273 million during December 2018
January 31, 2019--ETFGI, a leading independent research and consultancy firm covering trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed in the Middle East and Africa saw net outflows of US$273 million during December.
Over the month, total assets invested in the Middle East and African ETF and ETP industry decreased 7.75%, from US$31.63 billion at the end of November, to US$29.18 billion, according to ETFGI's December 2018 Middle East and Africa ETF and ETP industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Total Assets invested in ETFs and ETPs listed in the Middle East and Africa decreased 7.75% to $29.18 Bn during December.
Source: ETFGI
IMF-Kuwait: Staff Concluding Statement of the 2018 Article IV Mission
January 28, 2019--Higher oil prices in 2017-18 lifted growth and improved fiscal and external balances. The uncertainty about their future though, as demonstrated by the recent drop, underscores the need to reduce Kuwait's dependence on oil and save adequately for future generations.
Successfully tackling these challenges hinges on the emergence of a vibrant private sector that can create jobs for the large number of nationals joining the labor force over the next decade. Ample financial assets, low debt, and a sound banking sector allow Kuwait to undertake the needed reforms from a position of strength and at a measured pace.
Source: IMF
Mideast Stocks: Petchems hurt Saudi, Dubai weighed down by property stocks
January 24, 2019--The Saudi stock market dropped on Thursday as weak oil prices pressured its petrochemical firms, while weakness in property stocks such as DAMAC Properties weighed on Dubai stocks.
Source: Zawya.com
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