Middle East ETF News Older than One Year
Inflation-at-Risk in in the Middle East, North Africa, and Central Asia
September 2, 2022--Summary:
This paper investigates inflation risks for 12 Middle East and Central Asia countries, with an equal share of commodities exporters and importers. The empirical strategy leverages the recent developments in the estimation of macroeconomic risks and uses a semi-parametric approach that balances well flexibility and robustness for density projections.
The paper uncovers interesting features of inflation dynamics in the region, including the role of backward versus forward-looking drivers, non-linearities, and heterogeneous and delayed exchange rate pass-through. The results have important implications for the conduct of monetary policy and central bank communication in the Middle East and Central Asia and emerging markets in general.
Source: IMF.org
Saudi Arabia to Grow at Fastest Pace in a Decade
August 17, 2022--Maintaining reform momentum is pivotal for prosperity in the long run
Saudi Arabia is likely to be one of the world's fastest-growing economies this year as sweeping pro-business reforms and a sharp rise in oil prices and production power recovery from a-pandemic-induced recession in 2020.
Gross domestic product is expected to expand by 7.6 percent, the fastest growth in almost a decade, according to our recent Article IV consultation report.
Despite higher prices for imported commodities, inflation will remain contained at 2.8 percent in 2022 as the central bank tightens policy in line with the US Federal Reserve. Public finances and the external position will strengthen substantially thanks to increased non-oil revenue and higher proceeds from oil exports. Reserve buffers will remain ample.
Source: IMF.org
Saudi gold ETFs fell by $2.1mln in June; year-to-date global demand still strong
July 12, 2022--Gold has soared 10 percent in six weeks, but shares in gold mining companies have fallen and analysts believe potential investors might be concerned the precious metal's surge will not last.
Gold investing faces headwinds like high interest rates, strong US dollar, says World Gold Council
Source: zawya.com
Mideast Stocks: Gulf bourses rebound from selloff, follow Asia higher
June 21, 2022--Saudi Arabia's benchmark index gained 1.9%
Most stock markets in the Gulf rose on Tuesday, rebounding from a recent selloff, with the Qatari index on track to snap four sessions of losses.
The markets also followed Asian shares higher. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.3%, edging up from a more than five-week low and set for its best day in around two weeks.
Source: zawya.com
Mideast Stocks: Most Gulf bourses rebound but investors cautious on growth fears
June 21, 2022--Saudi Arabia's benchmark index advanced 2.6%, its biggest intraday gain in more than a year
Stock markets in the Gulf ended higher on Tuesday, pausing for breath after a steep sell-off, but major central banks' rate hike plans and global recession risks kept investors cautious.
Saudi Arabia's benchmark index advanced 2.6%, its biggest intraday gain in more than a year, buoyed by a 3.4% jump in Al Rajhi Bank and a 1.6% increase in oil giant Saudi Aramco.
Source: zawya.com
GCC states likely to see higher growth in 2022 on oil price rebound
June 20, 2022--Oxford Economics said rising housing demand could feed through to inflation
The GCC is likely to be one of the few regions in the world that will see higher growth in 2022 compared to last year due to the strong rebound in the oil sector and the public sector driving the non-oil economy, said Scott Livermore, the Chief Economist, Oxford Economics Middle East.
Source: zawya.com
Mideast Stocks: Major Gulf bourses extend losses on economic slowdown worries
June 20, 2022--Dubai's main share index declined 2%
Major stock markets in the Gulf declined in early trade on Monday, in line with global equities and oil prices as concerns over slowing economic growth and shrinking fuel demand weighed on investor sentiment.
MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.4%, while Tokyo's Nikkei fell 0.7%.
Source: zawya.com
Saudi Arabia logs fastest GDP growth across major G20 economies
June 15, 2022--The kingdom is leading the bounce back from the health outbreak, new OECD data suggest.
Saudi Arabia is now leading the recovery from the coronavirus pandemic, with its gross domestic product (GDP) in the first quarter rising faster than any other major economy in the world, according to data from the Organisation for Economic Cooperation and Development (OECD).
With a significant increase in oil activities, the kingdom's economy grew 2.6 percent quarter-on-quarter during the first three months of 2022, the highest in the G20 forum of the world's major economies, OECD said.
Source: zawya.com
Unlocking Sustainable Private Sector Growth in the Middle East and North Africa
June 9, 2022--More than a decade after the Arab Spring, the Middle East and North Africa region finds itself facing momentous challenges. The COVID-19 pandemic has disrupted economies, and the Russian invasion of Ukraine sent shockwaves through the region, with higher hydrocarbon prices, risks to food security and a drop in tourism.
Beyond looms the threat of climate change. But challenging times provide opportunities for change. The region's private sector can seize the moment. It remains the hope for many young people and has the potential to drive a sustainable model of growth. The Enterprise Surveys, conducted by the EIB, EBRD and the World Bank, provide insight into what lies beneath the region's relatively slow growth, with a focus on the reasons for stagnating productivity and inadequate accumulation of human and physical capital in the private sector.
Source: eib.org
All GCC equity markets plunged in May tracking global cues
June 2, 2022--GCC equity markets: UAE markets among top gainers, says Kamco Invest
GCC equity markets saw huge declines in May on panic selling as investors took their cue from global markets. There was some profit booking too as valuations were elevated across the region.
All markets reported declines during the month with Dubai dropping the most--10 percent--followed by Bahrain and Kuwait with declines of over 6 percent, according to a report by Kamco Invest.
The MSCI GCC index rounded off the month with a decline of 7.5 percent.
Source: zawya.com
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