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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

          Oman inks pack to bolster role of SMEs in food systems

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

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            Deal signed to set-up first factory in Qatar to assemble electric vehicles

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            Local, Italian companies partner up to establish food retail chain in Egypt

            Local, Italian companies partner up to establish food retail chain in Egypt

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            Iraq set to award new Faw Port deals

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            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

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            Miral’s premier Abu Dhabi waterfront project work on track

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            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

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                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

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                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

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                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Equity markets in the GCC have room to grow further

              Times of Oman

              March 18, 2013
              in Finance
              0

              Gulf Cooperation Council (GCC) equity markets are considered some of the most promising markets, with room to grow further, given the abundance of liquidity and the strengthening of the economy. Yet, they are still generally dependent on global growth, asserted Malek Kanawati, CEO of Mubasher Financial Services (MFS).

              Speaking exclusively to Times Business, Malek said, "Furthermore, some political instability in the Middle East and North Africa (Mena) region represents both an opportunity and a challenge to the region. On one hand, opportunity lies in funds shifting from troubled countries (e.g., Egypt, Tunisia, and Yemen) to the more stable countries of the GCC. On the other hand, the challenge lies in how governments can address popular demand for a better standard of living. But this should not be a concern for GCC countries, given their fiscal surpluses, thanks to relatively high oil prices."

              He observed, "The positive outlook for GCC equity markets is also supported by fundamentals since they rank amongst the lowest in the world in terms of price-to-earnings ratios (9-11x), with relatively high earnings growth rates (10-16 per cent). Also, their dividend yields are among the highest [in the world] (3-5 per cent)."

              When asked which sectors in the GCC were the best investments at present, he said, "Almost all of the GCC governments are looking to diversify their economies away from the oil and gas sector. Non-oil sectors are expected to represent a significantly higher percentage of overall GCC GDPs. Cyclical sectors, such as real estate and materials (e.g., cement and steel), are expected to witness high growth rates in the GCC, as a result. Mega real-estate projects should drive demand, with Saudi Arabia providing more residential areas, while the United Arab Emirates and Qatar target the tourism sector. Meanwhile, reforms in the banking sector are continuing in order to absorb more liquidity from the economies [of GCC countries], thanks to current accounts surpluses. Transportation is also considered a promising sector, with a focus on joining entire GCC countries through mega transportation projects."

              Commenting on how emerging markets have been the focus for many investors over the past year while Western equities have struggled, Malek observed, "Considering that the global economic crisis started in the United States and reverberated through other European countries, investors have shifted focus to emerging markets that are least affected by the crisis. In addition, emerging markets continue to boast relatively higher real gross domestic product growth rates versus their counterparts with developed economies.

              Thus, ultimately, emerging markets' equities should have a higher investment potential than Western equities. But investors must keep in mind that while emerging markets should continue to enjoy higher growth rates vis-à-vis developed markets in the foreseeable future, they are not totally isolated from global economic swings."
              Times of Oman
              17 March

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