MIDDLE EAST AND NORTH AFRICA ECONOMICS: “MENA IN FOCUS OCTOBER 5 2008″
October 5, 2008 at 7:12 pm | In Africa, Arabs, Economics, Financial, Middle East, Research | Leave a Comment
MENA In Focus – 05 Oct. 2008
NBK Capital MENA Research MENAresearch@nbkcapital.com
NBK Capital-MENA infocus-05Oct2008.pdf Size: 1020890 bytes.
NBK Capital MENA Research
Ahmed Al-Jaber Street, Sharq
P.O. Box 4950 Safat 13050
Kuwait City, Kuwait
Tel.: +965 224 6663
Fax: +965 224 6984
www.nbkcapital.com
Sun, 5 Oct 2008
Please find attached our MENA In Focus Publication.
In This Issue:
In Focus 1 – Nine-Month Review of GCC Markets
The GCC equity markets have been witnessing a horrific bear market in 3Q2008, with the hardest hit markets being those of Saudi Arabia and the UAE. These two markets are currently trading at levels close to (or lower than) the bottoms the markets hit in the previous bear market. While the previous bear market was mostly a result of excessive valuations, the current one we are experiencing has been the result of a combination of factors, namely the global financial crisis, the exodus of foreign investors, and the retreat in the price of oil to USD 90 per barrel after peaking at USD 146.
In Focus 2 – Borderless Mobile Market
As competition intensifies in the region, GCC telecom operators in the region are always seeking to protect their market share and attract potential subscribers. The fruit of the expansion plan in different countries and regions has started to appear. Subscribers usually own SIM cards to avoid roaming charges in countries that they frequently visit. Thus, many operators, led by Zain, are trying to waive or reduce high roaming charges to increase minutes of usage and mitigate the shift to other networks.
MENA In Focus is a monthly NBK Capital publication that analyses sector and country trends in the region, which includes the six GCC countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE, as well as Egypt, Jordan, Lebanon, Morocco, Palestine and Tunisia. In addition, each report tabulates the performance of each of the region’s twelve markets during the preceding month.
Thank you,
NBK Capital MENA Research
Ahmed Al-Jaber Street, Sharq
P.O. Box 4950 Safat 13050
Kuwait City, Kuwait
Tel.: +965 224 6663
Fax: +965 224 6984
www.nbkcapital.com
NBK Capital
MENA In Focus – 05 Oct. 2008
NBK Capital MENA Research MENAresearch@nbkcapital.com
NBK Capital-MENA infocus-05Oct2008.pdf Size: 1020890 bytes.
Sun, 5 Oct 2008
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