The chief economist at Beltone Financial Holding Company, Alia Mamdouh, confirmed in an interview with Al Arabiya that Beltone expects continued foreign cash flows in Saudi Arabia in 2022.
Mamdouh referred to Expectations of continued momentum in the Saudi market with the succession of initial offerings, amid positive prospects for the performance of the economy, supported by the expected offerings and the rise in oil.
She added that the economic indicators are positive in the Kingdom at various levels, and we will see a new year in which the indicators will perform stronger.
She considered that Beltone’s future view of the UAE market is promising, especially Dubai, with the expected proposals, explaining that the UAE markets are still trading at low levels, noting the anticipation of a number of proposals in the UAE, in addition to the economy benefiting from the impact of Expo 2020 Dubai and the return of tourism, and airport activity, and other affiliated activities.
Beltone Financial also expected that the global volatility situation, with the emergence of new variants of Covid-19, would represent additional obstacles, which could prevent the positive impact of the improvement in the financial performance of companies on the performance of stocks.
Beltone’s financial vision confirmed that the catalysts that will support the levels of liquidity in the market are either new offerings or a renewed appetite for foreign investment, which will benefit certain stocks such as Commercial International Bank, Credit Agricole, El Sewedy Electric, Eastern Company and Edita.