Middle East ETFs, Indexes Attract Global Interest

Areas of emerging markets displaying potential for continued rapid growth (at least, after the global economic downturn finally abates) include the Middle East, and Dow Jones Indexes has launched two new indexes for exchange traded funds (ETFs).

BNP Paribas has been licensed to serve as the provider of ETFs to track the new indexes, which will be listed on Euronext Paris:

• Dow Jones Kuwait Titans 30
• Dow Jones UAE Select

The Kuwait Titans index tracks 30 of the largest and most liquid stocks traded on the Kuwait stock exchange. The UAE Select index measures the largest and most liquid stocks trading on the Dubai financial market, Abu Dhabi Securities Market and Dubai International Financial Exchange, reports Carla Johnson for OffshoreInvestor.com.

Prospects for peace in the Middle East might be improving, as hopes are high that President-Elect Barack Obama will work hard for it, reports Voice of America.

In the United States, there are already some ETFs that focus on the Middle East and interest in this region of the world is high:

• Market Vectors Gulf States ETF (MES), down 41.8% since July 22 inception

• WisdomTree Middle East Dividend (GULF), down 48.4% since Aug. 21 inception

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