Decent Upsides Despite The Rally

The regional equity markets have rallied since early March 2011 following the sharp drops they experienced after the outbreak of political turmoil in some of the Middle East and North Africa (MENA) countries. The stock market indices in Saudi Arabia, United Arab Emirates (UAE), Qatar and Oman (countries in which we have banks under coverage) have increased by 24%, 16% 13%, and 2%, respectively, since early March 2011, which was when these markets bottomed out following the start of the political turmoil.


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