Dubai Is Back and a Bargain, at Least to Stock Pickers With Time - Bloomberg:
After Dubai’s benchmark stock index lost almost half its value in the past five years, it’s beginning to attract investors on the lookout for bargains.
Hobbled by a lackluster economy and languishing in the shadow of its Gulf Arab neighbors, the emirate’s stocks have dropped in three of the last four years. The main gauge peaked in 2014, when MSCI Inc. officially included the United Arab Emirates -- of which Dubai is a part -- in the emerging-markets category.
#Shares in Dubai companies have now become so cheap relative to developing-nation equities that the gap in their estimated price-to-earnings ratios is near the widest since 2011.
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