Marmore 14 5 billion dollars, the value of 27 initial subscriptions in the Gulf during…

Marmore MENA Intelligence, a wholly owned subsidiary of Kuwait Financial Center Company “Markaz”, concluded its participation in the Middle East and North Africa Investment Conference, which was held in Abu Dhabi on November 24, 2022. Global, the participation of over 300 personalities global.
MR Raghu, Chief Executive Officer of Marmore, participated in the conference through a panel discussion titled “Middle East and North Africa Outlook 2023”, where he provided insights into the development of the Gulf Stock Exchanges, their role in supporting economic diversification and development and the opportunities to bring foreign investment to the region through fixed income, equities and alternative investments.
Raghu spoke in the discussion session moderated by Hussain Sayed, a certified financial analyst and program presenter on CNBC Arabia, where he discussed numbers that paint a positive outlook for regional equity markets, including the completion of 27 initial public offerings in the Gulf countries in 2022, with a value of $14.5 billion and more than $7 billion of foreign capital invested in Middle East stock exchanges in March 2022, according to Franklin Templeton data.
Raghu also explained the difference between attracting family businesses and state-owned companies to IPO, noting that the latter are more accessible and bring greater returns for the market, and identified major geopolitical events and macroeconomic shifts that could continue to affect the GCC markets. indicating that the war between Russia and Ukraine, tight monetary policies, high inflation rates and growing fears of recession are among the main causes of the changes in global markets, as the GCC countries continue their path of transition from oil-dependent economies.

Raghu added that with oil prices rising, the outlook for the wider GCC region remains strong according to GDP and government budget balance calculations. Raghu points out that the public sector will play an important role in this transformation.
He added that the great development of the Gulf financial markets in recent years has led to an increase in quotations, liquidity rates, products and valuations.

He also indicated that the various reforms undertaken by those markets should attract more foreign inflows. Raghu said the share of GCC countries in the MSCI Emerging Markets Index (MSCI EM) is likely to increase in the coming years due to these factors.