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 2017 UAE Market Outlook

January-16-2017
by Rema Khanfar
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Daman Investments held its annual UAE Market Outlook press conference on 16-January 2017 at the Jumeirah Emirates Tower hotel. A host of local media including regional TV channels, press and radio journalists attended the press briefing. The event received a wide coverage across the various channels underlining the esteem and credibility that Daman Investments enjoys in the region.

Key panelists:

  • Shehab Gargash, Founder & Chairman
  • Ahmed Khizer Khan, CEO

 

The Market outlook centered on the following themes:

  • Key GCC market indices were well below their peak levels witnessed in H1 of 2014 but valuations remained attractive and there had been recent upswings in value traded.
  • Most GCC governments had taken several actions to bridge their fiscal deficits and improve their macroeconomic standing by reducing subsidies, introducing taxes, divesting state-owned enterprises and consolidating businesses.
  • 2017 would provide a spring-board to selectively benefit from the trading opportunities on the back of strong project pipelines in the UAE such as the Dubai Metro expansion, construction of Al Maktoum Airport and the build up to the Expo 2020 event.
  • The recent agreement by OPEC and non-OPEC countries to instill production cuts had strengthened the case for oil to be range bound between USD 50-USD 60 levels. A stable and predictable oil price trajectory would be a positive for GCC economies in 2017.

The senior management also shared the firm’s strategies and plans moving forward.

PLEASE CLICK HERE TO DOWNLOAD THE PRESENTATION

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