Rebounding Qatar Stocks Shine in 2018 as Dubai Lacks Sparkle - Bloomberg

Rebounding Qatar Stocks Shine in 2018 as Dubai Lacks Sparkle - Bloomberg:

When it comes to their Gulf stock-market rivalry, Doha is easily outshining Dubai.

The main Qatari equities index is 2018’s best performer worldwide in dollar terms, up 15 percent. Earlier this year, it recovered all the losses caused by Qatar’s diplomatic standoff with a group of countries including the United Arab Emirates and Saudi Arabia that began 15 months ago. In bleak contrast, Dubai stocks are languishing at their lowest level since January 2016 after falling 19 percent this year.

Qatar responded to the spat with steps to entice investors. Several companies have allowed increased foreign ownership, while the country has made permanent residency an option for some non-nationals. A minister even described the embargo as “a blessing” for the gas-rich nation, with exports and global trade rising. The U.A.E. has taken steps of its own to stimulate its economy at a time of dropping Dubai real-estate prices and faltering demand, but these efforts are yet to reflect in stock performances.