we continue to prefer the consumer staples and the
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BofA Merrill Lynch Global Research.*Market cap as % of MSCI EM represents and artificially constructed benchmark weight
ultimately driving earnings momentum and a market
Saudi would be 2.8% of the MSCI and could
(2) Saudi Arabia (according to local press and the
as well as increasing network density in developed and urban areas.
demand still lags global and regional averages (as indicated by data as a
Mobily and STC) will be key contributors to the financing of the
and the small size of existing Saudi hospital groups limits
Medgulf and Tawuniya) or set up its own insurance
the quality of both care and infrastructure in the public
train public sector administrators and raise
we anticipate 1) a rationalization of subsidies for water and
Water and Agriculture is looking to 1) optimize the
water and electricity administered price changes introduced in