Middle East ETF News Older than One Year
UAE aims $1trln business with Israel in next 10 years
September 14, 2021--Central Bureau of Statistics data shows that UAE and Israel have done business worth around $570mln after signing Abraham Accords.
The UAE is planning to improve economic relations with Israel to more than $1 trillion in the next 10 years, Bloomberg reported citing Economy Minister Abdulla Bin Touq.
The UAE has signed more than 60 MoUs with Israel after normalising relations in 2020 and is expecting an "influx" of trade in the next two years, Bin Touq told a virtual conference from the U.S., the report said.
Source: zawya.com
UAE to sign trade deals with 8 countries; seize new investment opportunities
September 6, 2021--The economic partnerships are expected to increase the UAE’s current trade volume of Dh257 billion to Dh40 billion annually
The UAE is signing comprehensive economic partnership agreements with eight countries to consolidate its position as a gateway for global trade and investment.
The deal with India, Indonesia, Turkey, UK, Israel, Kenya, South Korea and Ethiopia will widen its access in the emerging markets and fuel the emirate's future economic growth.
The agreements are vital as the UAE aims to double its economy from Dh1.4 trillion to Dh3 trillion in the next 10 years. The economic partnerships are expected to increase the UAE's current trade volume of Dh257 billion with these markets to Dh40 billion annually.
Source: zawya.com
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.
