Middle East ETF News Older than One Year
Egypt's stockmarket outperforms Gulf neighbors in 2017
January 15, 2017--Egypt's equities market performed better than peers in neighbouring Gulf Cooperation Council (GCC) countries in 2017.
Cairo's main index increased in value by 21.66 percent during 2017, as a continuous drop in inflation, positive comments from the Central Bank and an ongoing programme of economic reforms boosted investor sentiment, especially in the second half of the year.
Source: Zawya.com
New cryptocurrencies' exchange platform launches in Dubai
January 15, 2018--Palmex has been founded by a Saudi entrepreneur based in Dubai.
A Dubai-based blockchain startup announced on Monday the launch of a new digital portal for cryptocurrencies trading, its CEO said.
Arabian Chain is a Dubai-based startup founded in February last year by a group of Saudi entrepreneurs including its founder and CEO Mohammed Alsehli, 30.
Source: Zawya.com
Oil adds to rally, heads for fourth week of gains
January 13, 2018--Oil prices rose for a sixth day on Friday after Russia's oil minister said that global crude supplies were "not balanced yet," alleviating market concerns about a wind-down of the OPEC-led deal to reduce production.
Source: Zawya.com
MIDEAST STOCKS-Gulf markets flat to lower early on; many Saudi petchems lose steam
January 11, 2018--Gulf stock markets were flat to lower in early trade on Thursday as many Saudi petrochemical shares lost steam after rising earlier this week as oil prices hit 2 1/2-year highs.
Source: Zawya.com
Tadawul Announces Significant Market Enhancements
January 10, 2018--Far-ranging measures aim to raise market efficiency, boost investor access, security and improve liquidity in the Saudi capital markets
Latest round of market enhancements build on ground-breaking reforms implemented by the Saudi Stock Exchange in 2017.
Tadawul, the Saudi Stock Exchange, today announced a series of significant measures to improve market access and efficiency, enhance liquidity, bolster investor security, mitigate risk and further align market practices with global best practices. Newly announced measures include:
Source: The Saudi Stock Exchange (Tadawul)
World Bank-Global Economic Prospects 2018: Middle East & North Africa
January 9, 2018--Recent developments: Growth in the Middle East and North Africa is estimated to have slowed sharply to 1.8 percent in 2017 from 5 percent the year before. The slowdown in growth among oil exporters, driven by oil production cuts and continued geopolitical tensions, has more than offset a pickup among oil-importing economies. Fiscal adjustments also held back growth among both oil-importing and oil-exporting economies in the region.
Growth among members of the Gulf Cooperation Council (GCC) slowed, reflecting lower oil output. Growth in Saudi Arabia fell to 0.3 percent in 2017 from 1.7 last year amid oil production cuts and fiscal consolidation, and the United Arab Emirates eased to 1.4 percent. The diplomatic rift between Qatar and neighboring economies is estimated to have weighed somewhat on Qatar's economy, but the impact on neighboring economies has been limited. After an exceptionaly high growth rate in 2016 due to lifting of sanctions, growth in the Islamic Republic of Iran moderated in 2017, contributing sizably to the moderation in regional growth.
Source: World Bank
QE Index Rises and Exceeds 9000 Points
January 9, 2018--The Qatar Stock Exchange Index (QE Index) today exceeded 9000 points gaining 26.64 points to reach 9,002.46 points and rising 5.62 percent since the beginning of January 2018.
Qataris accounted for half of investors' net buying today with 50.4% of the buy transactions and foreign investors accounted nearly around the other half with 49.6% of the buy transactions.
Source: Qatar Stock Exchange
MIDEAST STOCKS-Oil prices, technicals may support Gulf markets
January 4, 2018--Most Gulf markets may keep a firm tone on Thursday after oil prices shot up and the three main Wall Street stock indexes hit record closes overnight.
Source: Zawya.com
Oil prices near levels last seen in 2014/2015 as market tightens
January 4, 2017--Brent crude futures were at $67.82 a barrel, down 2 cents
Oil prices on Thursday remained near levels last seen in late 2014/2015, with markets tightening amid tensions in Iran and due to ongoing OPEC-led production cuts.
Source: Zawya.com
Saudi Arabia and UAE introduce 5% VAT in bid to narrow deficits
January 4, 2018--Pivotal measure taken to end tax-free living as Gulf allies seek to boost non-oil income.
Source: FT.com
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