This week in MENA "17 July 2026" Peace

Research evidence excerpt

This week in MENA "17 July 2026" Peace

Global Research

17 July 2026ab

This week in MENA Equities

EMEA Emerging17 July 2026

Financial

Jon Peace

Higher oil price supports Saudi vs UAE market Analyst

A sharply higher oil price (+10.8%) to $84.2/Bbl amid renewed geopolitical volatility jon.peace@ubs.com

supported the Saudi market this week (-0.9%), while UAE (-3.1%) underperformed the +44-20-7567 0638

broader MSCI EM Index (-1.6%) despite the latter being further impacted by weakness Ulyana Lenvalskaya

in Korea. Among sectors, Energy and Materials were among the most defensive, while Analyst

Real Estate lagged. Banks were supported by resilient Q2 results. ulyana.lenvalskaya@ubs.com

+971-443-64776

Macro news and research Alexander Estefanous, CFA

Saudi and UAE projects tracker: June 2026. Analyst

alex.estefanous@ubs.com

Saudi Arabia’s annual inflation holds at 1.8 percent in June 2026. (Economy +44-20-7567 0508

Middle East) Luis Schmidt

Saudi land sales fall after higher tax kicks in. (AGBI) Associate Analyst

luis.schmidt@ubs.com

Saudi lending programme seeks to revive mortgage market. (AGBI) +44-20-7567 0847

Thando Skosana Dubai unveils new $545m road project to cut journey times. (AGBI)

Analyst

Company news and research thando.skosana@ubs.com

+44-20-7568 6457

3Q26 MENA Outlook: Resilience to Rebound.

Anna Kishmariya

MENA Banks Q2 preview: UAE to show resilience. Analyst

anna.kishmariya@ubs.com

MENA Industrials 2Q26; A Toll Order or Road to Recovery? +44-20-7568 7999

National Medical Care: Initiation - A Healthy Prescription for Growth. Henri Patricot, CFA

Dallah Healthcare: Initiation - A Balanced Diagnosis. henri.patricot@ubs.com

+33-14-888 3033

Dubai Islamic Bank Post 2Q26: Increase target to AED8.0.

Michael Christelis, FIA CFA