Latest news

Saudi CMA Head: Will Open Stk Mkt Gradually To Foreign Investors

20 April 2012

Zawya: The Capital Market Authority wants to ensure its planned move would not affect the market’s stability, Abdulrahman al-Tuwaijri, the CMA’s chairman, told executives of listed companies and reporters in Riyadh, but did not give a time frame for the opening. The Middle East’s biggest market, known as the Tadawul, currently allows foreign investors to access the local market via share-swaps and exchange traded funds. The CMA hopes that opening…

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GCC stock markets continued to rise in March and LHV Persian Gulf Fund recorded a result of +3.4% for the month

20 April 2012

GCC stock markets continued to rise in March and LHV Persian Gulf Fund recorded a result of +3.4% for the month. This means that in total in Q1 2012 the fund’s performance was +12.4%. „MSCI GCC ex Saudi Arabia“ index rose at the same time by +2% (in euros, net). The fund’s Q1 performance was aided by 19% rises (in euros) in the stock markets of Saudi Arabia and Dubai…

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The fund’s NAV rose by 7.81 per cent in February

5 March 2012

The NAV of LHV Persian Gulf Fund gained 7.81 percent during February. This represented the best monthly return for the fund in the last 23 months and the fourth best monthly performance ever for the fund. Main reasons for such a burst of optimism were positive news coming from the euro zone, a steadily rising oil price and slightly oversold stock markets in the GCC that did not participate in the global stock market rally…

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Up to date overview now available

1 March 2012

An up to date overview made at the end of February 2012 of LHV Persian Gulf Fund, GCC-countries and the Middle-East region in general is now available in PDF format. Tried to cover the whole specter of investing – from general macroeconomic trends to risks associated with investing and finally to potential triggers for stock price growth in the region etc. Also covered the whole fund portfolio and discussed briefly the biggest…

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Zawya: Vitol warns crude could pass 150 USD

23 February 2012

The world’s largest independent oil trader has warned that oil prices could jump this year to a record high above 150 USD a barrel due to growing tensions with Iran. Read the whole article here.

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Zawya: Gulf countries line up $1 trillion of projects by 2020

11 February 2012

Combined with Qatar’s $106bn (to be awarded) projects, more than $1 trillion worth of major new projects are expected to be completed in the GCC region between now and 2020 which is the largest construction work per capita in the world, said a statement issued by MEED Quality Awards for Projects 2012. Read the whole article here.

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Zawya: Abu Dhabi’s ADIA Tops List Of Biggest Sovereign Wealth Funds

10 February 2012

The Abu Dhabi Investment Authority topped a new list of the world’s largest sovereign wealth funds with an estimated $627 billion of assets in its coffers. The list, compiled by the U.S.-based Sovereign Wealth Fund Institute and updated this month, puts China’s main sovereign fund second, with $567.9 billion of assets. Norway’s government pension fund came in third with $560 billion in assets. Read the whole article here.

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Zawya: BRIC vs MENA

9 February 2012

A number of ME markets are trading at valuations below their BRIC counterparts, says NBK Capital. With a few potential catalysts such as an MSCI upgrade and Saudi opening up, there may even be hope for the unthinkable: a rally. Read the whole article here.

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The fund’s NAV rose by 0.82% in January

6 February 2012

In th e month of January 2012 LHV Persian Gulf Fund´s NAV gained 0.82%. During the month a number of our investments delivered their Q4 2011 results. First Gulf Bank (UAE) released a strong set of results, coupled with greater than expected dividend pay-out. FGB reported net profit up 11% Q-o-Q and 18% Y-o-Y. Earnings were ahead of the consensus estimate. Another of our investments, Commercial Bank of Qatar, showed slightly mixed result for the period. Net…

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Zawya: Middle East injects US$180 billion into 113 new power, water, energy projects

3 February 2012

Middle East Electricity shines spotlight on booming energy sector; UAE forges ahead with power, water, energy projects worth US$34.2 billion. New power, water, and energy projects valued at US$180 billion are underway or at the planning stages in the Middle East, as the UAE forges ahead with 20 projects worth US$34.2 billion. Read the full article here.

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