Middle East ETF News Older than One Year
Macroprudential Policy in the GCC Countries
March 19, 2014--Summary: As undiversified commodity exporters, GCC economies are prone to pro-cyclical systemic risk in the financial system. During periods of high hydrocarbon prices, favorable economic prospects make the financial sector keen to lend, leading to higher domestic credit growth and easier access to external financing.
Fiscal policy is a very important tool for macroeconomic management, but due to the significant time lags and expenditure rigidities, it has not been a flexible enough tool to prevent credit booms and the build-up of systemic risk in the GCC. This, together with limited monetary policy independence because of the pegged exchange rate, means that macro-prudential policy has a particularly important role in limiting systemic risk in the financial system. This importance is reinforced by the underdeveloped financial markets in the region that provide limited risk management tools and shortcomings in crisis resolution frameworks. This paper will discuss the importance of macro-prudential policy in the GCC countries, look at the experience with macro-prudential policies in the boom/bust cycle in the second half of the 2000s, and use the broad frameworks being developed in the Fund and elsewhere to discuss ways existing frameworks and policy toolkits in the region can be strengthened given the characteristics of the GCC economies.
Source: IMF
Gulf Countries Should Refine Policies to Ensure Financial Stability-IMF Survey
March 19, 2014--Gulf countries remain susceptible to boom and bust of credit and asset prices
Reliance on oil revenues, importance of real-estate sector are sources of risks
Refining macroprudential policy is key to better manage financial cycles
The experience of the boom and bust in 2008-09 demonstrates the vulnerability of the member countries of the Gulf Cooperation Council (GCC)—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates-to credit and asset price cycles, and makes macroprudential policies especially important, says IMF.
Source: IMF
Khaleeji Commercial Bank appoints new chairman
March 19, 2014--The Bahrain All-Share Index slipped 0.16 per cent to reach 1,371.64 points on Wednesday, March 19. Khaleeji Commercial Bank (KHCB) gained 1.90 per cent to reach BHD0.054.
Earlier in the day, KHCB revealed that, on March 18 (Tuesday), it appointed Dr. Ahmed Al-Mutawa as the Islamic bank's chairman. Abdulrahman Jamsheer has been appointed as vice-chairman. ...
Source: AME Info
Arabtec in the spotlight at Dubai market
March 19, 2014--The Dubai Financial Market General Index (DFMGI) consolidated above 4,200 points on Wednesday, March 19, as the gauge finished 0.50 per cent higher at 4,255.57 points.
Arabtec Holding was the most liquid share, as it surged by 5.11 per cent to AED5.55. On Tuesday (March 18), Arabtec revealed that, in 2013, it generated a net ...
Source: AME Info
Finance House in the loop on nod for 10 per cent share buyback scheme
March 19, 2014--The Abu Dhabi Securities Exchange General Index (ADXGI) lost 0.24 per cent to close at 4,836.43 points on Wednesday, March 19.
Finance House (FH) recorded the biggest leap, ending 1.04 per cent higher at AED3.90. Earlier in the day, FH revealed that it has received an approval from the UAE Central Bank and the Securities ...
Source: AME Info
Shareholders approve Nakilat's dividend proposal
March 19, 2014--The Qatar Exchange 20 Index declined by 0.27 per cent to close at 11,388.14 points on Wednesday, March 19. Qatar Gas Transport Company, also known as Nakilat, dived 6.02 per cent to QAR19.84.
Earlier in the day, Nakilat revealed that its annual general assembly approved the distribution of cash dividends totalling 11 per cent to ...
Source: AME Info
Bahrain market slump halted
March 18, 2014--The Bahrain All-Share Index closed 0.21 per cent to reach 1,373.80 points on Tuesday, March 18. Khaleeji Commercial Bank closed six per cent higher at BHD0.053.
National Bank of Bahrain fell by 2.74 per cent to BHD0.71. Al Salam Bank surged from 0.94 per cent to 0.214 per cent, finishing at BHD0.214. Gérard Al-Fil...
Source: AME Info
Ooredoo announces interest payment for bondholders
March 18, 2014--The Qatar Exchange 20 Index advanced by 0.15 per cent to close at 11,418.76 points on Tuesday, March 18. Islamic Holding jumped 9.95 per cent to reach QAR68.50.
Ooredoo, formerly Qatar Telecom, finished flat at QAR139. Earlier in the day, Ooredoo revealed that it will distribute interest payments to the bondholders of its global medium-term
Source: AME Info
Abu Dhabi market bounces back
Since the start of the year, the developer's share has been trading in a narrow range of AED2.50. Arkan Bulding ...
Source: AME Info
Emaar shares approach AED10
On Monday, Emaar unveiled luxury apartments in BLVD (Boulevard) Crescent, a residential development in the heart of Downtown Dubai. BLVD Crescent features two towers of 39 and...
Source: AME Info
March 18, 2014--The Abu Dhabi Securities Exchange General Index (ADXGI) added 1.96 per cent to close at 4,824.96 points on Tuesday, March 18. Eshraq Properties was the most liquid share, closing 2.60 per cent to hit AED2.37.
March 18, 2014--The Dubai Financial Market General Index (DFMGI) gained 2.66 per cent, closing at 4,234.29 points on Tuesday, March 18. Emaar Properties jumped 5.41 per cent to reach AED9.75.
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