Credit Suisse Launches Research Coverage of Stocks in Saudi Arabia
Dubai Credit Suisse is pleased to announce today it has initiated research coverage of 13 stocks in Saudi Arabia, effective May 1. This expansion of the Bank’s research coverage provides investors with the first comprehensive analysis of stocks in Saudi Arabia, representing approximately 65% of the equity market in Saudi Arabia.
Economic growth coupled with strong corporate earnings outlook and M&A activity underscore the importance of the region's capital markets in a global context. The Middle East is a key focus area for Credit Suisse and for the Bank’s research product more specifically. The London and Dubai based Middle East Equity Research team will continue to expand its coverage of Middle Eastern stocks.
Credit Suisse is also pleased to announce the launch of its “Access MENA” trading platform, an innovative access product which will allow international investors to buy economic exposure to stocks in the Middle East. Through “Access MENA“, Credit Suisse is now able to offer investors exposure to economic performance of shares traded in the Middle East, gain exposure to previously unavailable stocks and execute FX simultaneously, reducing investor’s operational cost.
Credit Suisse hosted its first conference dedicated to the BRIC and MENA countries, titled “BRIC and MENA - Feel the Heat”. The conference, which took place on June 10-12, brought together senior representatives of the leading companies in Brazil, Russia, India and China and the Middle East and North Africa.
Bassam Yammine, Co-CEO of Credit Suisse in the Middle East, said, “The launch of this landmark product is an important step in opening the Middle East equity market and further strengthening our overall platform in the Middle East. We look forward to offering our clients comprehensive access to the Saudi equity market.”
Ian Dalglish, Managing Director and Head of EEMEA Equities at Credit Suisse, said, “This offering is further evidence of our strong commitment to providing our clients unparalleled access to the growing equities market in the Middle East. We continue to develop our research, sales and trading platform to offer our international clients the most innovative products and services.”
Guy Rigden, Managing Director and Co-Head of EEMEA Equities at Credit Suisse, added: “Credit Suisse is committed to identifying and delivering investment opportunities in the region. Our BRIC and MENA Conference provides a unique opportunity to compare the prolific growth of the corporate sector in the MENA region with their peers from the BRIC countries.”
© 2008 Al Bawaba (www.albawaba.com)
