Middle East ETF News Older than One Year
Saudi Stock Exchange Joins MSCI Emerging Market Index
June 20, 2018--Inclusion in global indices reflects continued progress of capital market reform under Vision 2030
The Saudi Stock Exchange (Tadawul) is pleased to announce today that MSCI, a leading provider of global equity indices, upgraded the Kingdom of Saudi Arabia to "Emerging Market" from its previous "Standalone Market" status in its Annual Market Classification Review. The Kingdom, which was also recently added to the FTSE Russell as a "Secondary Emerging' market in March 2018, will be included in MSCI's Emerging Market Index in two phases concurring with the May 2019 Semi Annual Index Review and the August 2019 Quarterly Index Review.
Source: Tadawul
Dubai slips on property and banking shares, Abu Dhabi also down
June 19, 2018--Dubai's main index fell almost 1.5 percent on Tuesday as concerns over trade tensions between the United States and China ricocheted through emerging markets.
Source: Zawya.com
ADX gains 81.5 points Thursday
June 14, 2018--The banks sector increased by 2.34%
The Abu Dhabi Securities Exchange's (ADX) general index rose 81.53 points, or 1.76%, to close at 4,714.73 points on Thursday.
The ADX's trading volume reached 53.6 million shares, while the market's liquidity amounted to AED 187.78 million.
Source: Zawya.com
Egypt amends some provisions of listing, delisting rules for EGX
June 14, 2018--The board of directors of the Financial Regulatory Authority (FRA) issued a decision to amend some of the provisions of the rules for new listings on the Egyptian Exchange (EGX), as well as rules for continuation and delisting, through adding rules stipulated in article 6 of Law 95 of 1992.
Source: Zawya.com
MIDEAST STOCKS-Abu Dhabi, Qatar rise, but Dubai sags as Eid holiday begins
June 14, 2018--The Abu Dhabi stock exchange ended higher on Thursday, helped by shares in sector majors First Abu Dhabi Bank (FAB) and Etisalat, and neighbouring Dubai ended lower as property shares weighed on the exchange.
Source: Zawya.com
MIDEAST STOCKS-Dubai gains on demand for bank stocks, Abu Dhabi falls
June 13, 2018--Dubai stocks opened higher in response to selective buying in financial services companies such as Dubai Islamic Bank, but other Gulf markets were mixed with Abu Dhabi falling on profit taking in First Abu Dhabi Bank, while Qatar was flat.
Source: Zawya.com
IMF Working Papers-Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought
June 13, 2018--Summary:
This paper estimates fiscal multipliers for the Gulf Cooperation Council (GCC) countries. Using OLS panel fixed effects on a sample of six countries from 1990-2016, results indicate that GCC fiscal multipliers have declined in recent years which would make the on-going fiscal consolidation less costly than previously thought.
Though both capital and current multipliers have declined in recent years, capital multipliers are larger than current multipliers, which implies that reducing (less productive) current spending will help limit the adverse impact of such measures on growth.
Source: IMF
TASE Launches New Index-the Tel Bond-Dollar Index
June 10, 2018--The Index Will be comprised of Dollar-Linked Corporate Bonds Listed on TASE
The board of directors of the Tel-Aviv Stock Exchange (TASE) approved (June 7th, 2018) the launch of a new corporate bonds index-the "Tel Bond-Dollar Index".
The index will consist of dollar-linked corporate bonds listed on TASE. Following the launch of the new index, TASE will be calculating 29 Tel Bond indices, 10 of which were launched in 2017 and 6 additional indices were launched since the beginning of 2018.
The new index was formulated by TASE to expand and diversify the products traded on TASE.
Source: Tel-Aviv Stock Exchange (TASE)
UK pushes forward with 'Aramco' listing rule
June 8, 2018--Britain's markets watchdog will introduce new premium listing rules next month aimed at attracting sovereign backed companies such as Saudi Aramco.
The UK Financial Conduct Authority (FCA) said it had addressed investor concerns with clauses that relate to disclosure and the appointment of independent directors.
Source: Zawya.com
MIDEAST STOCKS-Gulf slips early on, Dubai down despite new economic steps
June 7, 2018--Energy and petrochemical shares helped to drag down stock markets across the Gulf early on Thursday, with Dubai gaining little benefit from the announcement of fresh economic stimulus steps.
Dubai's index was down 0.4 percent as amusement park operator DXB Entertainments, by far the most heavily traded stock, sank 2.9 percent.
Source: Zawya.com
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