2017 UAE Market Outlook

Key panelists:

• Shehab Gargash, Founder & Chairman
• Ahmed Khizer Khan, CEO
• Farid Samji, Head of Asset Management

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.

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