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Article: Arab markets expected to rise despite bearish start in 2007
- Article from:
- Al Bawaba
- Article date:
- January 16, 2007
CopyrightCopyright 2007 Al Bawaba. Provided by ProQuest LLC. (Hide copyright information)
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Despite the fact that across the Middle East most bourses began
the New Year on a bearish note, many industry observers continue to
cautiously predict that 2007 will be a year of growth, especially for
GCC states UAE, Saudi Arabia and Kuwait.
According to forecasts by leading investment consultancy firm,
Kuwait-based Global Investment House, GCC stock markets should grow
by more than 25 percent in the coming year if earnings growth meets
predictions, reported Khaleej Times.
"At current price levels, many stocks represent a good buying
opportunity and provide a case of careful stock selection and
accumulation," the report stated.
Slow start in New Year
Such markets nonetheless kicked off ...