Showing 9 of 67
  • UAE Flag
    SECTOR NOTE
    26 Jun 2025
    Banks

    UAE Equity Research - Banking Sector 2Q25 - Preview Note

    We maintain our MARKET WEIGHT rating on the UAE banking sector. Net advances in the UAE banking sector recorded 1.4% QOQ growth in 1Q25, owing to increased lending across private corporate and retail sectors, partially offset by a decline across government and public sector GREs.

  • UAE Flag
    SECTOR NOTE
    25 Jun 2025
    Properties

    UAE Equity Research - Real Estate Sector 2Q25 - Preview Note

    The UAE’s economy grew 4.0% in 2024 compared to 2023, primarily due to a strong growth in the non-oil sector, which recorded an increase of 5.0% in 2024. The contribution of non-oil stood at 75.5% in 2024, and the oil sector contributed the remaining. The Central Bank of UAE expects the economy to grow 4.7% in 2025 and 5.7% in 2026, owing to the strong performance expected from the non-oil and oil sectors.

  • UAE Flag
    SECTOR NOTE
    20 Jun 2025
    Telecom

    MENA Equity Research - Telecom Sector 2Q25 - Preview Note

    The UAE’s telecom industry is undergoing a dynamic transformation, marked by strategic partnerships and a sharp focus on digital innovation. Operators are embracing technologies such as 5G private networks and Industry 4.0 solutions to drive efficiency and enhance services across sectors. At the same time, there's a growing emphasis on expanding into international markets and diversifying revenue streams to ensure long-term sustainability

  • Saudi Flag
    SECTOR NOTE
    19 Jun 2025
    Banks

    Saudi Equity Research - Banking Sector 2Q25 - Preview Note

    We maintain our MARKET WEIGHT rating on the Saudi banking sector. Advances in the KSA Banking System are expected to moderate in 2025 from 14.4% growth in 2024, but are still expected to grow in low double digits. The banks have recorded a strong uptick in credit growth of 5.0% QOQ in 1Q25, driven by a 7% growth in corporate loans.

  • UAE Flag
    SECTOR NOTE
    21 Apr 2025
    Transportation

    UAE Equity Research - Transportation Sector 1Q25 - Preview Note

    We maintain a positive stance on DTC within the UAE’s transportation sector, while also recommending investors to stay invested in Air Arabia and Aramex, which are well-positioned to benefit from the sector’s robust growth, particularly driven by the tourism boom and favourable macroeconomic conditions.

  • UAE Flag
    SECTOR NOTE
    20 Apr 2025
    Consumer Staples

    UAE Equity Research - Consumer Sector 1Q25 - Preview Note

    We prefer Agthia and Americana Restaurants over LuLu Retail, following the recent price correction. While Agthia has faced macroeconomic headwinds such as currency devaluation in Egypt, operational disruptions, and concerns over compressed margins, there are signs of recovery, particularly as Egypt’s economy stabilizes.

  • UAE Flag
    SECTOR NOTE
    17 Apr 2025
    Energy

    UAE Equity Research - Energy Sector 1Q25 - Preview Note

    Following the recent price correction, ADNOC Distribution stands out as our preferred pick over ADNOC Drilling, ADNOC Gas, and Dana Gas, backed by its strong operational execution, diversified revenue streams, and scalable growth strategy. While lower crude oil prices impacted its topline, ADNOC Distribution recorded robust growth in fuel volumes and non-fuel transactions.

  • UAE Flag
    SECTOR NOTE
    15 Apr 2025
    Properties

    UAE Equity Research - Real Estate Sector 1Q25 - Preview Note

    The UAE’s economy recorded 3.8% growth in the first nine months of 2024 compared to the same period in 2023. This economic growth is driven by a strong growth in the non-oil sector, which grew 4.5% in 9M2024. The contribution of non-oil stood at 74.6% in 9M24, and the balance was contributed by oil sector.

  • UAE Flag
    SECTOR NOTE
    11 Apr 2025
    Telecom

    MENA Equity Research - Telecom Sector 1Q25 - Preview Note

    The UAE’s telecom industry is undergoing a dynamic transformation, marked by strategic partnerships and a sharp focus on digital innovation. Operators are embracing technologies such as 5G private networks and Industry 4.0 solutions to drive efficiency and enhance services across sectors.

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