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Did you know that Bahrain’s Gulf Air is one of the oldest airlines in the Middle East and was first established in 1950?

Latest Insights

Business Breakfast with FABS CEO

INTERVIEW – Dubai Eye – 23 May 2018

Mr. Yasin interview with Dubai Eye explains why property stocks have tumbled this year – and how to spot bargains on the Dubai Financial Market.

Mohammed Ali Yasin , the FABS CEO

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Markets take a relaxed view of developments

Weekly Investment View – 20 May 2018

This week’s report discusses a week during which the yield on the closely-watched US 10-year Treasury bond moved above 3%. The FAB Asset Allocation Committee made no changes to investment strategy during its meeting last week, having already reduced equity exposure on a tactical basis slightly in advance of the lower-volume summer months. There was, however, an official change in view on the Brent crude price, which is now expected to trade in a $65-90/barrel range for the rest of the year. There follows an explanation of exactly what happened in last week’s Karnataka state elections in India, with the conclusion that support for Prime Minister Modi remains intact, boding well for the general election in 18 months. We are certainly keeping faith with our Indian equities overweight, within a tactically-neutral position in EM equities overall. In the ‘Lastly’ section we touch on the intractable problems of Brexit, as well as the - we believe highly significant - inclusion of a group of Chinese ‘A’ onshore stocks in MSCI’s Emerging market Index, used for the tracking of trillions of dollars of passive funds. We remain overweight in Chinese equities, pending global investors’ realizing they have no choice but to invest much more in this asset class. Meanwhile, our reading of the US-China trade talks is that they are proceeding positively, and that both sides want to make solid progress.

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How do we stack up against the others?

FAB vs Peer Banks– 17 May 2018

In this periodic report FAB’s Market Insights & Strategy team analyses how FAB compares versus its main peer banks in the GCC as well as Western and Eastern parts of the world. The report shows how these banks stack up against each other on various factual metrics such as credit ratings, CDS spread, capital adequacy, return on equity, return on assets, etc.

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

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Eurozone PMI data offers asset allocation strategy ahead of ECB QE withdrawal

Macro Strategy and Economic - 03 May 2018

European Purchasing Managers’ Index (PMI) data released Wednesday (May 2) should serve as a useful reminder as to where embedded European macroeconomic risks lie. The numbers highlight to us those geographies in the sovereign spectrum that may have enjoyed the greatest benefit of monetary repression, and as such may now be at greatest risk of price corrections over the coming months. Furthermore, data released Thursday for UAE and Saudi Arabia PMIs, would seem to highlight the relative inherent strength of GCC credit when compared alongside Europe.

Simon Ballard - Macro Strategist, Market Insights & Strategy

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UAE Real Estate‘‘Foundations for Optimism’

Hot Topics – 19 April 2018

In our latest review of UAE real estate, “Foundations for Optimism” we find that a soft, but nonetheless cautiously optimistic tone continues to characterize the UAE property market. After the correction seen in real estate prices during 2014/2015 the market is now showing some encouraging signs of underlying price support, although with evidence of extensive incentives being used by landlords to retain incumbent tenants or entice new ones, market conditions are still far from strong.

Simon Ballard, Macro Strategist, Market Insights & Strategy

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GCC Fixed Income Chart Book: Q1 2018 Review

11 April 2018

GCC bond and sukuk markets have been very active indeed over Q1 2018, especially with new issues coming from issuers in this region, and this momentum looks set to continue into Q2. In this report our Market Insights & Strategy team provide a quick overview of the market and our thoughts on some of the key drivers.

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

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India & the UAE ‘Trading Places’

Hot Topics – 05 April 2018

Trading between the UAE and India go back centuries. In this piece we look briefly at the UAE’s more modern history and how its relations with India became so intertwined.

Glenn Wepener - Executive Director, Market Insights & Strategy 

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Bahrain’s first $ debt issue of 2018, but perhaps not the last…

Hot Topics – 28 March 2018

The Kingdom of Bahrain is in the market with its first deal of 2018, a 7.5 year sukuk transaction. Given the country’s budget deficit, recent ratings downgrades, etc, this sukuk deal is one that needs to succeed. Furthermore, given the magnitude of the country’s funding requirements, we don’t see today’s deal as being the Kingdom’s only transaction for 2018 and hence expect further issuance during the year. Watch this space….

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

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Saudi Arabia's possible inclusion into the FTSE and MSCI

INTERVIEW – Bloomberg – 28 March 2018

Mohammed Ali Yasin , the FABS CEO

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The Dhs30 billion tie-up between Emaar Properties and Aldar.

INTERVIEW – Dubai Eye – 21 March 2018

Mohammed Ali Yasin , the FABS CEO

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Aldar + Emaar: There’s more to it than a JV

Hot Topics – 21 March 2018

The announcement of a joint venture between two of the UAE’s leading property developers - Aldar and Emaar – is more significant than may first meet the eye. We believe the collaboration is of huge strategic importance to Abu Dhabi, Dubai and the country as a whole

Chavan Bhogaita, MD & Head of Market Insights & Strategy

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Global Remittances - A Brief Overview

Hot Topics – 18 March 2018

Global remittances have undergone substantial transformation and growth over the past 50 years, and furthermore it is likely that this transformation will be even more pronounced in the coming years as a result of technological advances. In this report FAB’s Market Insights & Strategy team provides a broad overview of Global Remittances and highlights some of the key factors aspects of this market.

Mohamed Ali Al Shamsi, Market Insights & Strategy

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Balancing Politics with Macro and Rates

Macro Strategy and Economic Update - 14 March 2018

Our latest macro strategy missive, in which we analyse and discuss the recent political developments in the U.S. alongside the OECD’s update of its global growth projections.

Simon Ballard - Macro Strategist, Market Insights & Strategy

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Saudi Arabia - Shifting Sands

Hot Topics – 12 March 2018

There is an ancient Arabic proverb which literally translated into English reads: “You cannot change the wind, but you can adjust the sail.”Although having originated a long time ago it could still be used today to highlight Saudi Arabia’s recently unveiled and unprecedented program of social and economic change. While foreign media headlines and investors may currently be focused on the discussion over where and when Aramco will be listed, other equally important events are either already underway or due to take place this year, thus we try and discuss these in the following piece.

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

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