Middle East ETF News Older than One Year
Value of assets under management in the Middle East rose 52% in last 3 years
May 20, 2022--AUM poised to grow further on the back of rising oil, gas prices
The value of assets under management (AUM) in the Middle East has rebounded after a contraction in 2015 and 2016 and is poised to increase further on the back of rising energy prices, a new report said.
Since the end of 2019, AUM in the region has been consistently on an uptrend, rising by 52 percent, according to Preqin, a privately held UK-based investment data company. As of the third quarter in 2021, the region’s AUM reached $35 billion, exceeding the $25 billion recorded in 2020.
Source: zawya.com
Mideast Stocks: Lender FAB buoys Abu Dhabi index; Qatar dips
April 28, 2022--In Abu Dhabi, the index advanced 1.1%
Most stock markets in the Gulf rose in early trade on Thursday, with the Abu Dhabi index leading the gains, boosted by a rise in the country's largest lender, First Abu Dhabi Bank.
In Abu Dhabi, the index advanced 1.1%, buoyed by a 1.2% gain in First Abu Dhabi Bank (FAB), which reported its highest quarterly net profit, helped by the sale of a majority stake in its payments business.
Source: Zawya.com
World Bank Forecasts Uneven Recovery in Middle East and North Africa
April 14, 2022--GDP will grow 5.2% by end 2022, but Ukraine war and COVID-19 add to uncertainty
Economies in the Middle East and North Africa (MENA) region are expected to grow by 5.2% in 2022, the fastest rate since 2016, on the back of oil-price windfalls benefitting the region's oil exporters. But heightened uncertainty surrounds this forecast due to the war in Ukraine and ongoing threats from COVID-19 variants.
Titled "Reality Check: Forecasting Growth in the Middle East and North Africa in Times of Uncertainty", the World Bank's latest economic update forecasts an uneven recovery as regional averages mask broad differences. Oil-producers will benefit from higher oil prices and vaccination rates as fragile countries lag. But tighter global monetary policy, the unpredictability of the course of the pandemic, ongoing supply chain disruptions and food price hikes raise inflation risks for the entire region.
Source: worldbank.org
GCC Economic Update-April 2022
April 14, 2022--Bahrain
The economy is gradually picking up as pandemic pressures fade, non-oil economy recovers, and hydrocarbon production increases. The fiscal deficit remains high as emergency crisis-spending persists but is expected to narrow gradually. The external balance will noticeably improve.
The debt to-GDP-ratio is expected to remain elevated during the forecast period to meet fiscal needs.
Downside risks arise from oil price volatility and insufficient fiscal adjustment, which could worsen fiscal and external positions and intensify pressure on already high public debt, thereby threatening macroeconomic sustainability.
Source: worldbank.org
Without Adaptation, Middle East and Central Asia Face Crippling Climate Losses
March 30, 2022--International cooperation is essential to manage the costs and maximize the benefits of adaptation, particularly for the most vulnerable countries.
Climate change is inflicting crippling losses in the Middle East and Central Asia, with poor and conflict-affected countries suffering the most from higher temperatures and extreme weather events.
In any given year since 2000, climate disasters have killed more than 2,600 people, affected 7 million others, and caused $2 billion in direct material damage.
A new IMF staff paper assesses the economic impact of climate change in the region and shows how adaptation policies have become a pressing priority. It underscores the need for international support to finance adaptation.
Source: IMF
Digital Economy Could Reap Huge Benefits for Middle East and North Africa
March 16, 2022 — The universal adoption of digital technologies in countries across the Middle East and North Africa (MENA) would reap huge socio-economic benefits, amounting to hundreds of billions of dollars each year and a much-needed surge in new jobs, according to a new World Bank report.
The report, "The Upside of Digital for the Middle East and North Africa: How Digital Technology Adoption Can Accelerate Growth and Create Jobs," offers sound evidence of how the widespread use of digital services such as mobile money and digital payments would boost economic growth.
A core reason for this boost is that digital technologies reduce informational costs that constrain economic transactions, and those costs are lower when many more people use the technologies.
Source: worldbank.org
Total trade in Dubai's DGCX reached $13.6bln in February
March 4, 2022--Exchange saw an uptick in trading activity in precious metals, currencies, energy
The Dubai Gold and Commodities Exchange (DGCX) saw total trades hitting $13.681 billion in February, as investors sought to hedge wealth against volatility.
The exchange recorded a monthly average open interest (AOI) of 125,206 contracts during the month. The precious metals' portfolio led the trading activity, with the Gold Futures Contract recording a year-on-year average daily volume growth of 734 percent and Silver Futures Contract registering 75 percent.
Source: zawya.com
Egypt Bourse Ends Year of 2021 With Gains Exceeding Egp 115 Billion
December 30, 2021--Egypt bourse ended the year of 2021 with total gains exceeding EGP 115 billion to hit EGP 765.5 billion. During all year round transactions EGX 30 benchmark index spiked 10.1 % to stand at 11,949.18 points.
Also during the course of the year, the broader EGX 70 EWI of the leading small and mid-cap enterprises (SMEs) was up 2.64%, recording 2,201.79 points and the all-embracing EGX 100 index increased 5.08% to stand at 3,255.21 points.
Source: allafrica.com
IMF-Economic Prospects and Policy Challenges for the GCC Countries - 2021
December 15, 2021--Summary:
GCC policymakers moved quickly to mitigate the health and economic impacts of twin COVID-19 and oil price shocks. Infection rates have declined across the GCC to well below previous peaks, though countries have experienced successive waves of the virus, and economic recoveries have begun to take hold.
Source: IMF
Gulf Economic Update-Seizing the Opportunity for a Sustainable Recovery
December 2, 2021--This issue of the Gulf Economic Update includes a special section focused on the GCC public sector wage bill. This is placed in the context of the existing social contract whereby in addition to well-paid, public sector jobs, GCC governments have provided free health care, education, social security benefits, and subsidized housing and utilities to their citizens in return for their acceptance of the status quo.
This model worked well while oil prices were high and local populations limited. However, as oil prices slumped, populations grew rapidly, and the wage bill has become both an important contributor to fiscal deficits and also a drag on potential growth of the private sector.
Source: worldbank.org
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