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IMF-Qatar: Staff Concluding Statement of the 2016 Article IV Mission
January 3, 2017--Context and Outlook
1. Qatar is effectively adjusting to the new reality of sustained lower energy prices. The drop in international oil and gas prices has put considerable pressure on the fiscal and external positions.
However, the authorities' policy response has been adequate, underpinned by cuts to current expenditures and renewed efforts towards increasing non-oil revenues. Tariffs of some utilities (water and electricity) have been increased from October 2015 and the increase in gasoline prices in January 2016 was followed in May by the implementation of a regular price adjustment mechanism.
Gulf bourses edge up in early trade, petchems buoy Saudi
December 28, 2016--Most major Gulf stock markets edged up in early trade on Wednesday in line with global bourses, as petrochemical producers led Saudi Arabia's bourse.
The Saudi index, which surged 1.3 percent on Tuesday to a new high for the year, climbed 0.3 percent in the first 15 minutes.
Tadawul All Share Index hits new 52-week high
December 28, 2016--The Saudi stock benchmark Tadawul All Share Index rose 1.27% to hit a new 52-week high.
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Abu Dhabi bourse to introduce short-selling in first quarter 2017-CEO
December 27, 2016--Abu Dhabi's stock market plans to introduce covered short-selling in the first quarter of 2017, its chief executive said on Monday, as it seeks to boost liquidity and attract more foreign investors.
In covered short-selling, investors borrow shares and sell them in the expectation of repurchasing them later at a lower price.
Saudi post-budget rally stalls near chart barrier; rest of Gulf firm
December 26, 2016--Saudi edged down 0.1 per cent to 7,181 in the first 20 minutes of trading
Tadawul index added 1.5 per cent to 7,191 points on Sunday
Dubai and Abu Dhabi markets rose 0.6 per cent and 0.8 per cent respectively
Franklin Templeton Likes U.A.E., Egypt in Mideast Stocks Outlook
December 20, 2016--Fund is neutral Kuwait; underweight Saudi Arabia, Qatar
In North Africa, Morocco and Tunisia are seen as expensive.
The United Arab Emirates and Egypt are the Middle East stock markets poised to perform best in 2017, said Bassel Khatoun, Franklin Templeton Investments' chief investment officer for Middle East and North Africa equity. Khatoun, who manages $87 million in stocks from the region out of Dubai, gave his calls on key markets in the region next year in a Dec. 19 interview.
IMF Staff Completes 2016 Article IV Mission to Islamic Republic of Iran
December 19, 2016--Higher oil production and exports are allowing economic growth to rebound from recession in 2015/16
Iran is urged to create the conditions for sustained macroeconomic stability and growth
The IMF welcomes Iran's strong commitment to AML/CFT reform that helps facilitate the expansion of correspondent banking relations
New Islamic finance guidance on gold emphasises real deal
December 6, 2016--To encourage new Islamic finance products using gold
Sukuk, ETFs, trading accounts in development
Guidance also applies to silver-based contracts
Same-day settlement reduces risk, may be less convenient
AAOIFI plans workshops for wholesale gold market.
New Islamic finance guidance on gold, GCC F&B industry grows
December 6, 2016--Islamic finance experts have developed new rules for gold transactions; the GCC F&B industry continues to experience growth driven by the growing population and numbers of tourists
Here are the top seven business stories you need to know about today.
Dubai's Emirates Islamic launches 1.5 bln dirham rights issue Emirates Islamic Bank, the shariah-compliant...