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Wednesday, 21 December 2016

Franklin Templeton Likes U.A.E., Egypt in Mideast Stocks Outlook - Bloomberg

Franklin Templeton Likes U.A.E., Egypt in Mideast Stocks Outlook - Bloomberg:
"The United Arab Emirates and Egypt are the Middle East stock markets poised to perform best in 2017, said Bassel Khatoun, Franklin Templeton Investments’ chief investment officer for Middle East and North Africa equity. Khatoun, who manages $87 million in stocks from the region out of Dubai, gave his calls on key markets in the region next year in a Dec. 19 interview.

United Arab Emirates -- Overweight

Areas like tourism, finance, hospitality, trade should continue to grow. And the Expo 2020 in Dubai will serve as a concrete deadline for a lot of that infrastructural spending. Most of the liquidity issues in the country will be overcome, and the banks are operating quite healthy balance sheets. Its growing size on MSCI EM will also continue to attract investors."

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