Middle East ETF News Older than One Year
First set of guiding principles on sustainable finance published by leading financial authorities in the UAE
January 15, 2020-First-of-its-kind initiative aimed at furthering the UAE's sustainability agenda
UAE Financial authorities forge commitment to ensure sustainability of UAE economy
Leading financial authorities in the UAE have published the UAE's first set of Guiding Principles on Sustainable Finance, which serves as a catalyst in the implementation of the UAE’s sustainability priorities.
The launch of the initiative was unveiled during the second edition of the Abu Dhabi Sustainable Finance Forum (ADSFF), a prominent event organized by Abu Dhabi Global Market (ADGM) and held during Abu Dhabi Sustainability Week.
Premised on the United Nations Agenda for Sustainable Development, the initiative was implemented as a result of collaborative efforts among a number of financial services authorities in the UAE, including: Abu Dhabi Global Market; the Ministry of Climate Change and Environment; the Central Bank of the UAE; the Insurance Authority of the UAE; the Securities and Commodities Authority; the Dubai Financial Services Authority; the Dubai Islamic Economy Development Centre; the Abu Dhabi Securities Exchange, the Dubai Financial Market and Nasdaq Dubai.
Source: Zawya.com
Gulf Economic Update, December 2019: Economic Diversification for a Sustainable and Resilient GCC
December 4, 2019--Economic growth in the Gulf Cooperation Council (GCC) states significantly weakened in 2019; overall real GDP growth is estimated to drop to 0.8% in 2019 from 2% in 2018 before gradually gradually recovering in 2020-21.
This edition of the Gulf Economic Update explores the links between economic diversification and environmental sustainability. The analysis highlights the need to integrate environmental sustainability and ecosystem resilience considerations into the decision-making process on the diversification paths and options in the GCC countries.
Source: World BAnk
Monday Outlook: Stocks rise, oil gains, dollar boosted on positive cues from Washington
November 25, 2019--All property shares gain in Dubai
All major Gulf bourses rose on Monday, taking a cue from global equity markets as investors turned optimistic about some progress in U.S.-China trade talks, but Egypt remained pressured due to sell-off in blue chip stocks.
Source: Zawya.com
Mideast Stocks: Saudi snaps five days of gains with most Gulf markets subdued
November 24, 2019--Egypt falls for a fifth day
The Saudi Arabian stock market snapped a five-day rising streak on Sunday with lenders taking a breather after riding high on a lending boom related to Saudi Aramco's public listing.
Other markets in the region were mostly lower as concerns surrounding global trade persisted.
Source: Zawya.com
IMF Making the Most of Capital Flows in the Middle East and Central Asia
October 28, 2019--As economies in the Middle East and Central Asia become increasingly integrated into global capital markets, a central question has emerged: How can countries reap the benefits of capital inflows while guarding against the risks posed by sudden market shifts? Capital inflows can take several forms, such as foreign direct investment (FDI), portfolio flows, and wholesale funding to banks.
view the IMF Regional Economic Outlook: Middle East and Central Asia
Source: IMF
MENA Economic Update: Reaching New Heights: Promoting Fair Competition in the Middle East and North Africa
October 9, 20199--The Middle East and North Africa (MENA) needs bolder and deeper economic reforms. GDP growth is projected to be 0.6% in the region in 2019, a fraction of what is needed to create enough jobs for the fast-growing working-age population. Even in those few countries that have had periods of higher growth, poverty failed to decline, suggesting a need for reforms to instill fair competition and promote inclusive growth.
It is time for MENA countries to focus on both demonopolizing their markets and harnessing the collective domestic demand of their economies to achieve export-led growth regionally and internationally.
Part I discusses the short- and medium-term growth prospects for countries in the Middle East and North Africa. The region is expected to grow at a subdued rate of 0.6% in 2019, rising to 2.6% in 2020 and 2.9% in 2021. The growth forecast for 2019 is revised down by 0.8 percentage points from the April 2019 projection.
Saudi Arabia seeks to ease path for foreign listings
October 7, 2019--But some commentators questioned its appeal either to investors or to companies seeking to list their shares on the exchange, known as the Tadawul.
The new rules would make it easier for foreign companies to list on the main market and promote trading and listing on the secondary market, known as NOMU, the CMA said.
Source: FT.com
Saudi Arabia Weighs Selling Dollar Sukuk as Soon as October
September 29, 2019--Sale would come weeks after the attacks on Aramco facilities
Kingdom has raised $10.9 billion on global markets this year
Saudi Arabia is considering selling a dollar-denominated Islamic bond as early as next month as the kingdom seeks to take advantage of lower borrowing costs, according to people with knowledge of the matter.
The government is close to hiring banks for the possible sukuk, the people said, asking not to be identified because the information is private. A spokesman for the Finance Ministry didn't immediately respond to requests to comment.
Source: Bloomberg
Egypt protests wipe out stock market gains
September 27, 2019--Cairo bourse is world's second-worst performer this week after anti-corruption demonstrations
Source: FT.com
Saudi oil output bounces back after attacks
September 25, 2019--Kingdom's production is back up at 8m barrels a day, say insiders
Source: FT.com
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