Egypt's stock market has jumped 37 per cent so far in 2012, the largest gain of any country, but top US fund managers focused on the region remain wary of further political turmoil and currency weakness in the most populous Arab nation.
The Saudi bourse watchdog fined a former fund manager at a local bank for breaching trading regulations in the latest case of violations to be officially acknowledged in the opaque market.
The Capital Market Authority (CMA) fined Abdulaziz
Pharos Financial Advisors Limited, a specialist emerging markets fund manager, has been granted a licence by the Dubai Financial Services Authority (DFSA) to operate in the Dubai International Financial Centre (DIFC).
The parent company, P