Middle East ETF News Older than One Year
UAE economy to grow at over 4% this year
September 6, 2021--Minister Abdulla bin Touq says over 30,000 jobs will be created
The UAE's economy is expected to grow by more than 4 percent this year, at a higher rate than previously forecast, Abdulla bin Touq, the minister of economy, said in an interview with Bloomberg television on Sunday.
The central bank had forecast 2.5 percent growth in December. Economic growth fell to around 6 percent in 2020, according to estimates from the International Monetary Fund.
The minister also said that more than 30,000 jobs would be created over the next year.
Source: zawya.com
GCC equity markets broadly positive in August, UAE indices top
September 2, 2021--Key large-cap sectors boosted MSCI GCC index, says Kamco Invest
Most GCC equity markets, barring Oman, reported gains during August, according to the GCC Markets Monthly.
The MSCI GCC index posted gains for the tenth consecutive month during the month backed by gains in key large-cap sectors. The index closed at a seven-year high level on 17 August but as investors booked profits, the index receded towards the end of the month to close at 708.48 points, registering a monthly gain of 4.3 percent. This further pushed year-to-date (YTD) gains to 28.6 percent for the aggregate GCC index.
Source: zawya.com
Outlook: UAE stock markets to remain positive, barring virus resurgence
August 30, 2021--Corporate results starting to improve, says Chimera
Stock markets in the UAE will continue to perform well, provided there is no resurgence of coronavirus cases, Abu Dhabi-based asset management firm Chimera Capital said in a bourse filing to the Dubai Financial Market (DFM) on Monday.
The alliance will create a full-service enterprise offering for institutional investors in the region. It will provide MENA investors with extensive reach into more than 100 markets around the world, an unrivalled product range servicing all major listed and unlisted asset classes, delivered by in-country client service teams in the UAE, Saudi Arabia, Kuwait, Oman, Bahrain and Egypt.
Source: State Street Corporation
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