This week in MENA

Research evidence excerpt

This week in MENA

Global Research

31 July 2026ab

This week in MENA Equities

EMEA Emerging31 July 2026

Financial

Jon Peace

Geopolitical volatility weighs on Saudi market Analyst

Geopolitical volatility including potential further shipping disruption saw Saudi decline - jon.peace@ubs.com

1.8% this week, as the oil price declined 8% to $89.0/Bbl, while good quarterly +44-20-7567 0638

earnings left the UAE in positive territory (+0.7%). Both markets outperformed the Ulyana Lenvalskaya

broader MSCI EM Index (-4.0%), which was led lower by Korea and Taiwan. Among Analyst

sectors, Health and IT were among the top performers, while Insurance and Materials ulyana.lenvalskaya@ubs.com

were weaker performers. +971-443-64776

Alexander Estefanous, CFA

Macro news and research Analyst

EEMEA: Four things to watch in the coming week. alex.estefanous@ubs.com

+44-20-7567 0508

Saudi Arabia: Fiscal deficit narrowed in Q2 as oil revenue rebounded. Luis Schmidt

CBUAE monthly statistics May 2026: loan growth slows slightly to 19.2%. Analyst

luis.schmidt@ubs.com

QCB monthly statistics June 2026 - loan growth slows to 5.9%. +44-20-7567 0847

Thando Skosana CBK monthly statistics June 2026 - loan growth slows further to 8.6%.

Analyst

Qatar Sends Its First LNG Shipment Through Hormuz in Three Weeks (BBG) thando.skosana@ubs.com

+44-20-7568 6457

Brookfield Raises $2 Billion for Middle East Fund Backed by PIF (BBG)

Anna Kishmariya

Company news and research Analyst

anna.kishmariya@ubs.com

Al Rajhi Banking & Investment Corp Post 2Q26: Lower price target to SAR69.0. +44-20-7568 7999

Abu Dhabi Islamic Bank Post 2Q26: Slightly lower target to AED23.50. Henri Patricot, CFA

Saudi Awwal Bank Post 2Q26: Slight increase in estimates. henri.patricot@ubs.com

+33-14-888 3033