Emirates NBD, Dubai's biggest bank by assets, is bullish on selective emerging market equities, where a weaker US dollar, lower oil prices and favourable demographics are expected to boost overall consumption that will positively impact the bottom line of listed companies.
“A lot of the conversations [with clients] are about where in the emerging market should I be investing versus should I be investing in the emerging markets,” Tariq Bin Hendi, an executive vice president and acting chief investment officer of Emirates NBD group, said at a media briefing on Monday to launch the bank’s Investment Outlook 2018 report.
“So when you are looking at a portfolio, where maybe three or four years ago you were talking about 20 per cent allocation, today you are talking about 60 per cent allocation in emerging markets, if not more.”
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Emerging markets are expected to yield returns in the low teens this year, complementing a stellar 2017, while returns in developed markets may touch high single digits this year, according to the report. Both the MSCI Emerging Markets Index and S&P 500 Index have had a bull run last year with the US benchmarks hitting multiple records in 2017.
Within the emerging markets, Emirates NBD favours select consumer and technology stocks while in the US, the focus is on companies from financial, defence, industrial and technology sectors. Oil exploration and production companies in the UK are the investment pick for the lender.
In the Arabian Gulf region, which accounts for about a third of the world’s proven oil reserves, the wealth management arm of the lender, is advising clients to look for investments in regional banks, real estate companies in the UAE and petrochemical firms in the Saudi Arabia.
“Within the GCC there are particular areas we like… it’s always the sustainable dividend players like banks, which are in a very good position this year,” Mr Bin Hendi said. The healthcare space within the broader region and logistics sector, specifically, in the UAE should also be in focus this year.
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BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
The%20specs
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TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
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