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Did you know that John D. Rockefeller, who revolutionized and dominated the oil industry during the late 19th and early 20th century, had an estimated net worth of US $1.4 trillion (in today’s money) at the time of his death?


Latest Insights

Catalysts for a market correction could be in place - but don’t sell

Weekly Investment View – 12 November 2017

Nervousness from possible delay to US tax reform, and growing geopolitical risk could start an overdue and healthy correction in developed market equities - but the outlook for Asia-Pacific equities still looks good, and includes Japan. Our suggestion for overseas investors to look to buy UK real estate at depressed levels is on track. A heightened political risk premium in oil has likely offset a technical correction. The background to the Venezuelan sovereign bond situation is discussed. China’s self-assurance shone from APEC, while delegates listened to Trump politely.

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Oil Barrels Along

Hot Topics – 9 November 2017

Those of you who have been following our oil market commentaries for the past 12 to 18 months will already be aware of our optimistic outlook for crude prices since WTI dipped briefly below US$30 a barrel back in February 2016, and which we suggested was likely to be the bottom for this latest major cycle. Since then the market has staged a pretty respectable recovery but is there room to go further?

Glenn Wepener, Executive Director & Geopolitical Analyst Middle East & Africa

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UAE markets intraday review

INTERVIEW – Al Arabiya TV – 18 October 2017

Mohammed Ali Yasin, the CEO of NBAD Securities, commented on the drop in DAMAC’s profits for the first 9 months of 2017. He also mentioned that investors are waiting the results of banks and Blue Chips companies, next week, before they make their next investment decision

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GCC Fixed Income Chart Book: Q3 2017 Review

12 October 2017

FAB’s market insights team published their quarterly review of GCC bond and sukuk markets for Q3 2017.

Chavan Bhogaita, Head of Market Insights & Strategy
Rakesh Sahu, Analyst – Market Insights & Strategy

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What’s behind the surge in trading on the Dubai Financial Market

INTERVIEW – Dubai Eye – 12 October 2017

Mohammed Ali Yasin, the CEO of NBAD Securities, Recent statements from the Minister of Economy on the country’s liquidity, along with positive news on oil prices and new IPOs coming in played an important part in October’s surge in traded volumes, said Mohammed Ali Yasin, the CEO of NBAD Securities. Until last month “there was no such catalyst to encourage people to enter the market”, he added. Even though volumes are not yet sufficient for analysts to talk about index improvement Mr Yasin remains very optimistic, partly due to expected IPOs.

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Why Saudi Arabia And Uae Earnings Are Under Pressure

INTERVIEW – Bloomberg TV – 04 October 2017

Mohammed Ali Yasin, the CEO of NBAD Securities, does not expect any surprises for the next earnings season. “The market has disappointed over the past few months” in terms of traded value and index movement, he said. Positive news that came from Saudi Arabia had boosted market performance in the 2nd and 3rd quarters, which we don’t have at the moment, according to Mr. Yasin. “The sentiment has mellowed down and investors are waiting for a catalyst to change that.”

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Bahrain prints $3bn deal - Anyone still doubting investor demand?

Hot Topics – 14 September 2017

Bahrain’s successful $3bn three-tranche sovereign transaction shows pretty clearly that there is still substantial investor appetite for GCC paper. FAB’s Market Insights & Strategy team have produced a brief commentary on this deal.

Chavan Bhogaita, Head of Market Insights & Strategy
Rakesh Sahu, Analyst – Market Insights & Strategy

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Daily Market News

Latest Global Market Reports

Bahrain‘s new bond/sukuk combo – a good test of investor appetite?

Hot Topics – 13 September 2017

Following the Kingdom of Bahrain’s announcement of initial price talk for its 3-tranche bond and sukuk transaction, FAB’s Market Insights & Strategy team provides a quick overview of the deal along with some relative value analysis.

Chavan Bhogaita, Head of Market Insights & Strategy
Rakesh Sahu, Analyst – Market Insights & Strategy

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Take Two - Kenya’s Presidential Election To Be Re-run

Hot Topics – 04 September 2017

Markets have begun to reflect growing concerns over the potential for extended political turbulence in Kenya, after the country’s High Court declared the latest Presidential election’s results invalid and ordered fresh elections be held within the next two months, due to ‘illegalities’ around the electronic transmission of paper results. We expect pressure on Kenyan assets to continue in the near term, at least until the poll has been re-run.

Glenn Wepener, Executive Director & Geopolitical Analyst Middle East & Africa

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Other Regional and Sector Insights

A Quieter Start

Weekly Fixed Income Comment – 13 November 2017

So now we know how the seventh innings started: on a soft note. The regional news centring on Saudi Arabia obviously had an impact on our markets last week but was also a factor in the weaker credit markets that we saw globally, along with focal points in the US high yield markets centred on some of the companies in that universe and outflows from the(...)

Ian Clarke, Head of Fixed Income Fund Management

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Mena Equity Commentary

Weekly Equity Comment – 06 November 2017

The GCC region remains volatile and continues to be impacted on the macro and political front. Last week the IMF updated its regional outlook for the Middle East, although growth concerns remain, IMF forecasts highlight fiscal initiatives with oil break-evens mostly falling. Kuwait remains best positioned in the current environment(...)

Saleem Khokhar, Head of Equities Fund Management

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Tight mortgage lending rules may have an impact on real estate sector

INTERVIEW – Al Arabiya – 28 September 2017

(ARABIC CONTENT) Mohammed Ali Yasin, the CEO of NBAD Securities comments on some banks’ request for the UAE Central Bank to reduce constraints on mortgage lending.
After late September’s low traded volumes, Mr. Yasin also expects October to be a potentially better month for GCC equities, thanks to blue chip stocks.

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Bullish euro/bearish dollar trend to continue?

The Bigger Picture – 05 September 2017

Investors should not get too excited about short-run cyclical improvements in the Eurozone when the degree of required structural change remains substantial. The dollar has already discounted much Trump-related bad news for the time being, hence could easily bounce from current levels, limiting euro upside. We have revised our expected six-month trading range to $1.1200-1.2500 (from $1.0500-1.1700 previously).

Alain Marckus, FAB’s Director of Investment Strategy - Global Asset Management

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