DUBAI Jan 4 Stock markets in the United Arab
Emirates and Qatar may stay firm on Wednesday after healthy
gains on the previous day, but Saudi Arabia stalled on Tuesday
and lower oil prices may cause that pattern to continue there.
MSCI's broadest index of Asia-Pacific shares outside Japan
is up 0.1 percent but oil prices pulled back 2
In Dubai, Amlak Finance may attract interest after
saying it renegotiated parts of a debt restructuring which the
Islamic mortgage provider agreed with creditors following the
local property market crash of 2008.
Amlak said creditors agreed to waive a number of covenants,
adjusting restrictions to allow the company to expand its
mortgage book, raise more funds and add new business.
A monthly Reuters survey of leading Middle East fund
managers at the end of December found them bullish on regional
equities in general, especially the UAE and Qatar, where they
intended to capture high annual dividend yields.
But they were more cautious on Saudi Arabia for now because
they felt valuations were starting to become rich again.
(Reporting by Celine Aswad; Editing by Andrew Torchia)