Middle East ETP News

ADX logs $506.4mln in ETF trading Jan-Aug 2024

August 30, 2024-The total value of ETF trading on the exchange reached AED1.863 billion in the first eight months of 2024
The Abu Dhabi Securities Exchange (ADX) has recorded significant value and volume of trading in exchange-traded funds (ETFs) since the beginning of this year, making it the most active and liquid ETF market in the Middle East and North Africa (MENA) region.

TCW expands global footprint with opening of Dubai office

August 28, 2024-New location to focus on serving clients in the Middle East
The TCW Group, a leading global asset management firm, today announced that it has continued its global expansion with the opening of a new office in Dubai, UAE.

Saudi GDP growth set to turn positive in H2 2024

August 23, 2024-CreditSights maintains 'Outperform' call on the kingdom's sovereign bonds
Saudi Arabia's economic growth is expected to turn positive in second half of 2024 with GDP set to grow at 1.7% in 2024 and 4.7% in 2025, research firm Credit Sights said.

Saudi targets Indian, Chinese, other Asian investors to boost stock market

August 22, 2024--Tadawul looks to tap into 'sheer size of investment dollars' from Asian investors
The Asian market is now a key target for the Saudi Tadawul Group Holding Co., according to the company's chief strategy officer, Lee Hodgkinson, during an episode of Tiger Money, a Bloomberg podcast.

Capex super cycle: Saudi to invest $1trln in economy by 2030

August 16, 2024-Goldman Sachs report highlights nearly 73% of investment funds will go to non-oil sectors by 2030
Saudi Arabia is poised to invest $1 trillion in a "capex super cycle", with 73% of the capital infusion designated to fuel the kingdom's non-oil economy by 2030, according to Goldman Sachs.

ETFs focusing on Saudi equities debut in China

July 16, 2024--The move comes as the two countries look to deepen their financial ties
Investors in China now have the option to trade in Saudi Arabian equities following the debut of two exchange traded funds in Shanghai and Shenzhen, as the two countries deepen their financial ties.

More Diversified Trade Can Make Middle East and Central Asia More Resilient

May 13, 2024--Reducing trade barriers, easing regulatory constraints, and upgrading infrastructure can mitigate challenges and help countries leverage new opportunities.
Dislocations from the pandemic, geoeconomic fragmentation, and Russia's war in Ukraine have shifted world trade dynamics.

Egypt: Economic downturn draws more investment from Gulf countries

March 28, 2024-- Opportunities in education and healthcare are high on the agenda for Saudi and the United Arab Emirates.

IMF Country Report-Qatar: Selected Issues From Hydrocarbon to Hightech: Mapping the Economic Transformation of QATAR1

February 7, 2024--Qatar's state-led, hydrocarbon intensive growth model has delivered rapid growth and substantial improvements in living standards over the past several decades. Guided by the National Vision 2030, an economic transformation is underway toward a more dynamic, diversified, knowledge-based, sustainable, and private sector-led growth model.

IMF Staff Country Report-Gulf Cooperation Council: Economic Prospects and Policy Challenges for the GCC Countries

December 14, 2023--Summary:
The GCC region's non-hydrocarbon growth momentum remains strong, driven by higher domestic demand, increased gross capital inflows, and reform implementation. Oil production-which depends on OPEC+ decisions -will be subdued in the near term. Inflation is contained and current account surpluses are high.

How the Middle East and Central Asia Can Better Address Climate Challenges

November 29, 2023--Investment of up to 4 percent of GDP annually is needed to ensure climate resilience and meet emissions reduction targets
The Middle East and Central Asia face a sobering climate reality. Temperatures have risen twice as fast as the global average, and rainfall has become scarcer and less predictable. Fragile states are disproportionally affected and conflicts may worsen. The toll this is taking on people and economies is poised to worsen.

IMF Staff Completes 2023 Article IV Mission to Qatar

November 21, 2023--Qatar's economic growth has normalized in 2023 following the World Cup-driven boom. Continued normalization is expected in the near term, with a favorable medium-term outlook supported by the LNG production expansion and intensifying reform efforts.
Broad fiscal discipline amid hydrocarbon windfalls in 2022-23 resulted in sizeable surpluses and rapid central government debt reduction.

GCC economy could hit $13trln by 2050 through green investments

October 19, 2023--Figure is double the initial projection of $6 trillion, according to Gulf Investment Report
Investing in green and sustainable projects could expand the gross domestic product (GDP) of Gulf countries to $13 trillion by 2050, according to a new report.

IMF-Regional Economic Outlook-Middle East and Central Asia-October 2023

October 12, 2023--Building Resilience and Fostering Sustainable Growth
Across the Middle East and Central Asia, the combined effects of global headwinds, domestic challenges, and geopolitical risks weigh on economic momentum, and the outlook is highly uncertain.

World Bank-Sharp Deceleration Expected for Middle East and North Africa Economies in 2023

October 5, 2023--Over five million jobs lost due to economic shocks in the last three years
Growth of the economies in the Middle East and North Africa (MENA) is expected to fall sharply this year. The region's gross domestic product (GDP) is forecast to plummet to 1.9% in 2023 from 6% in 2022, due to oil production cuts amidst subdued oil prices, tight global financial conditions, and high inflation, according to the latest issue of the World Bank MENA Economic Update (MEU).

IMF-Saudi Arabia's Economy Grows as it Diversifies

September 28, 2023--Sustaining growth in private non-oil investment requires maintaining the reform momentum and sound macroeconomic policies
Saudi Arabia's economy is undergoing a transformation, as it implements reforms to reduce oil dependence, diversify income sources, and enhance competitiveness. This year marks an important juncture as the midpoint of Saudi Arabia's ambitious Vision 2030 journey.