EMerging Equity
MENA
As Oil Declines, The UAE Is The Safest Bet In The Middle East
While the stalemate against the Islamic State, or ISIS, sits just a few hundred miles away and oil receipts dropping by the day, the glittering skyscrapers and perennially superlative-laced cities of the United Arab Emirates are filled with citizens and expatriates sitting by brand-new pools, sipping cocktails, and checking their swelling bank accounts. Even these … Continue reading
Will Sisi Succeed In Tackling Egypt’s Subsidies?
By David Wille To make Egypt a more attractive home for investment, President Sisi made tackling unsustainable food and energy subsidies a top priority. A year later, it is still unclear whether Sisi’s government can follow through on reforms that have stymied leaders for decades. As Egypt’s leaders struggle to bring the country’s finances under … Continue reading
UAE Hikes Gas Prices By 24% As It Halts Subsidies Amid Oil Bear Market
The United Arab Emirates (UAE), the second-largest Arab economy and OPEC’s third largest oil producer, will hike unleaded gasoline prices by 24 percent in August as it becomes the first country in the oil-rich Persian Gulf to remove subsidies, the UAE’s official WAM news agency reported on Tuesday. Drivers in the UAE will now pay 2.14 dirhams per liter … Continue reading
NATO, West Becoming Irrelevant As BRICS/SCO Expand Political, Economic Influence: F. William Engdahl
By F. William Engdahl The dual summits that took place in Russia’s Ufa beginning 9 July were anything but routine. In fact it may be seen by future historians as a signal event that marked the definitive decline of the global hegemony of European civilization including North America. This is no small event in human history. … Continue reading
Goldman Sachs Looks To Saudi Arabian Stocks Following Market Opening
Following Saudi Arabia’s opening of its near $600 billion stock market to direct foreign investment, Goldman Sachs — which advises clients on over $1 trillion in investment — has applied to own and trade Saudi Arabian stocks, Bloomberg reports, citing people familiar with the matter. Goldman is seeking a qualified foreign investor permit from the Capital Markets Authority of Saudi Arabia, according … Continue reading
Saudi Arabian Wealth Fund To Invest Up To $10 Billion In Russia
Saudi Arabia has inked a commitment to invest up to $10 billion in Russia, the Russian Direct Investment Fund (RDIF) said on Monday. Russia’s RDIF and the Public Investment Fund (PIF) of Saudi Arabia agreed to create a partnership to invest $10 billion into projects in Russia, RDIF head Kirill Dmitriev told RIA Novosti. Russia’s latest deal with its … Continue reading
Flying Blind: Gulf Subsidies Debate Ignores Regional Realities
By Francis Wilson The ongoing debate over the fairness and transparency of state-owned enterprises (SOEs) in the Middle East intensified in March when three of America’s largest airlines entered the fray. In a 55 page white paper released to the public in April, American, Delta, and United attacked what they believed to be the unfair business … Continue reading
Saudi Arabia: An Emerging Frontier?
By Tanya Rawat Saudi Arabia has a solid economic track record and is taking steps to become more included in global financial markets. This includes the Morgan Stanley Capital International (MSCI) Emerging Markets Index, though the process is still in the early stages and some challenges remain. Saudi Arabia opened its markets to international investors on … Continue reading
China Officially Launches The Asian Infrastructure Investment Bank (AIIB)
The Chinese-led Asian Infrastructure Investment Bank (AIIB) officially launched on Monday following a signing ceremony of the bank’s articles of association that took place in Beijing. Chinese President Xi Jinping greeted 300 delegates from the bank’s fifty-seven founding-member countries where they would later determine the total share capital, each member’s voting share of capital, the governance structure, decision-making mechanism, and operational … Continue reading
Saudi Arabia Opens Up $585B Stock Market To Direct Foreign Investment
“Saudi Arabia’s stock market, valued at $585 billion, opened up to direct foreign investment for the first time Monday, as the kingdom seeks an economic boost amid low global oil prices,” The Street reports. “The opening of the Tadawul Saudi Stock Exchange allows companies, particularly those that are not in the oil business, to raise … Continue reading
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