Middle East ETF News Older than One Year
Banks push Qatar higher, Mobily's loss dampens Saudi
July 24, 2017--Banks pushed Qatar's stock market higher on Monday while Saudi Arabia's market edged down as telecommunications firm Mobily plunged in the wake of a bigger-than-expected quarterly loss.
Source: Zawya.com
IMF Executive Board Concludes 2017 Article IV Consultation with Saudi Arabia
July 21, 2017--On July 17, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV Consultation [1] with Saudi Arabia.
Non-oil growth is projected to pick up to 1.7 percent in 2017, but overall real GDP growth is expected to be close to zero as oil GDP declines in line with Saudi Arabia's commitments under the OPEC+ agreement.
Growth is expected to strengthen over the medium-term as structural reforms are implemented.
Source: IMF
Dubai rises after bank earnings, most of region sluggish
July 19, 2017--Dubai's stock market rose on the back of strong bank earnings in early trade on Wednesday while most of the rest of the region was sluggish.
Source: Zawya.com
Banks boost Qatar in otherwise quiet region
July 19, 2017-- Banking stocks boosted Qatar's equities market on Wednesday, with some share prices approaching levels last reached before the country's diplomatic crisis erupted in early June, while other bourses in the region were mostly quiet.
Source: Zawya.com
Saudi-led bloc modifies demands to end Qatar crisis
July 19, 2017--The four Arab nations leading a boycott of Qatar are no longer insisting it comply with a list of 13 specific demands they tabled last month.
Diplomats from Saudi Arabia, the United Arab Emirates, Bahrain and Egypt told reporters at the UN they now wanted it to accept six broad principles.
Source: bbc.com
Is Saudi Arabia ready for the MSCI Emerging Markets Index?
July 18, 2017--Saudi's entry into the MSCI Emerging Markets Index is a hotly discussed topic now more than ever given that MSCI has lauded the progress made by the kingdom in its efforts towards capital markets reforms.
The kingdom would be the third country from the Gulf Cooperation Council to be included in the index after the UAE and Qatar were admitted in 2014.
Source: Zawya.com
Abu Dhabi Global Market enhances its international commitment with the implementation of common reporting standard regulations
July 18, 2017--Abu Dhabi Global Market, ADGM, has announced it is to implement the Common Reporting Standard, CRS, Regulations in support of the United Arab Emirates' international obligation in implementing the standards of joint disclosures and the exchange of information for tax purposes set out by the G20 and Organisation for Economic Cooperation and Development, OECD.
Source: Zawya.com
Dubai technically bullish, Saudi Kayan beats earnings expectations
July 18, 2017-- Most Gulf stock markets may consolidate without clear direction on Tuesday though Dubai is short-term technically bullish and a few stocks, including Saudi petrochemical maker Saudi Kayan, may move on second-quarter earnings announcements.
Source: Zawya.com
IMF: United Arab Emirates: Selected Issues
July 14, 2017--The UAE is adjusting to the new "lower-for-longer" oil environment. A consolidated Medium-Term Fiscal Framework (MTFF), which is comprehensive and forward-looking, could set a clear direction for fiscal policy for the country as a whole and better align resource allocation with local and national developments plans underpinned by goals embodied in the Vision 2021.
High quality of public financial management systems overall is also key ingredient of an appropriate MTFF
Source: World Bank
MIDEAST STOCKS-Gulf stocks end week on high after Fed's dovish comments, good Q2 results
July 13, 2017--Middle East stock markets extended gains on Thursday, helped by a rise in oil prices this week and by dovish comments from U.S. Federal Reserve Chair Janet Yellen that pointed to a more gradual tightening of monetary policy.
Source: Zawya.com
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