Middle East ETF News Older than One Year
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
Egypt: Economic downturn draws more investment from Gulf countries
March 28, 2024-- Opportunities in education and healthcare are high on the agenda for Saudi and the United Arab Emirates.
Over the last three years, Saudi Arabia and the United Arab Emirates (UAE) have dominated Egypt's mergers and acquisitions (M&A) scene, with activity set to intensify within the healthcare and education sectors in the midst of the current economic slump.
Source: theafricareport.com
IMF Country Report-Qatar: Selected Issues From Hydrocarbon to Hightech: Mapping the Economic Transformation of QATAR1
February 7, 2024--Qatar's state-led, hydrocarbon intensive growth model has delivered rapid growth and substantial
improvements in living standards over the past several decades. Guided by the National Vision 2030,
an economic transformation is underway toward a more dynamic, diversified, knowledge-based, sustainable, and private sector-led growth model.
As Qatar is finalizing its Third National Development Strategy to make the final leap toward Vision 2030, this paper aims to identify key structural reforms needed, quantify their potential impact on the economy, and shed light on the design of a comprehensive reform agenda ahead.
The paper finds that labor market reforms could bring substantial benefits, particularly reforms related to increasing the share of skilled foreign workers. Certain reforms to further improve the business environment, such as improving access to finance, could also have large growth impact. A comprehensive, well-integrated, and properly sequenced reform package to exploit complementarities across reforms could boost Qatar's potential growth significantly.
IMF Staff Country Report-Gulf Cooperation Council: Economic Prospects and Policy Challenges for the GCC Countries
December 14, 2023--Summary:
The GCC region's non-hydrocarbon growth momentum remains strong, driven by higher domestic demand, increased gross capital inflows, and reform implementation. Oil production-which depends on OPEC+ decisions -will be subdued in the near term. Inflation is contained and current account surpluses are high.
Fiscal balances remain healthy, supported by fiscal reforms and high oil prices. The primary non-oil deficits are expected to decrease to 24 percent of GDP by 2028, with higher non-oil revenue reflecting sustained fiscal and structural reforms and contained expenditures. High global uncertainty is weighing on the outlook.
Source: imf.org
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