Kuwait, Abu Dhabi and Qatar best markets to invest

And banks and telecom companies the most attractive industries, Morgan Stanley says.
Kuwait, Abu Dhabi and Qatar best markets to invest
By James Cordahi
Sun 24 Feb 2008 12:19 PM

Kuwait, Abu Dhabi and Qatar are the best markets in which to invest in the Gulf, with banks and telecom companies the most attractive industries, Morgan Stanley said in a report.

"Strong underlying economic growth, negative real interest rates and pressure for currency appreciation present an attractive backdrop for regional equity markets," the US investment bank said in an equity strategy report.

Kuwait's decision to exempt foreign investors from capital taxes on gains Kuwaiti stocks would help boost the stocks' relative value, the bank said.

The lender recommends stocks such as Dubai's Arabtec Holding, Dubai Islamic Bank and First Gulf Bank. (Reuters)

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