Effects of oil prices, food prices and macroeconomic news on Gcc stock markets

This thesis was submitted for the degree of Doctor of Philosophy and awarded by Brunel University London.This thesis is based on three papers examining Gulf Cooperation Council (GCC) financial markets. The member countries of the GCC are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. These countries have transitioned from developing to frontier markets over the past ten years, but there is considerable debate about whether GCC economies are efficient or affected by shocks in oil and other commodity markets. The first paper (chapter 2) considers GCC stock market returns and examines how they are affected by oil price shocks using a bivariate VAR-GARCH(1,1) approach. The conclusion of this essay is that GCC economies are more affected by shocks than are other countries considered for comparison purposes. The second paper (chapter 3) discusses how food prices are affected by oil price shocks, and it examines possible parameter shifts between food and oil that result from four recent events, including renewable fuel policies and the financial crisis. The third paper (chapter 4) uses an empirical approach to compare a least squares model and a non-linear Markov switching model to measure the effect of newspaper sentiment on stock market performance. The results indicate that all information is important to stock market investors and that non-linear models are better predictors of stock market performance then linear models when using data from newspaper articles. Chapter 5 offers some final conclusions and remarks

Using machine learning to analyze the impact of coronavirus pandemic news on the stock markets in GCC countries

COVID-19 has resulted in high volatility in financial markets across the world. The goal of this study is to investigate the impact of COVID-19-related news on the stock markets in Gulf Cooperation Council (GCC) countries. The study utilizes machine learning approaches to assess the role of COVID-19 news in stock return predictability in these markets. The results reveal that the stock markets in the United Arab Emirates (UAE), Qatar, Saudi Arabia, and Oman were impacted by coronavirus-related news; however, this news had no impact on the stocks in Bahrain. Moreover, the results indicate that the impacted markets were influenced differently in terms of the quantities and types of news. 2022 The AuthorsThe authors would like to thank Qatar University for financial support , Grant no. QUCP-CBE-2018-1 . The findings are solely the responsibility of the authors.Scopu

Stock Prices and Crude Oil Shocks: The Case of GCC Countries

Qatar and other Middle Eastern countries stock market are influenced by oil prices. The goal of this paper is to compare how stock prices in the GCC are affected by shocks in oil prices and comparing the results with other stock markets in other oil exporting countries. The relationship between oil and stock prices has been analyzed extensively in the recent literature. This paper aims to shed light on the volatility spillover dynamics running from the oil market into stock markets volatility for eight selected Middle East/African frontier markets. Middle East countries account for 31? of all crude oil production, while approximately 69? of all crude oil is produced by only ten countries. The methodology adopted in this paper is based on the VAR-GARCH approach of Engle and Kroner (1995), which allows to test for the presence of volatility spillover in both directions (i.e., from oil prices to stock prices as well as in the opposite direction). We use weekly data for GCC stock markets, plus three frontier stock markets (Algeria, Morocco and Namibia), WTI oil prices and stock prices were sourced by the U.S. Energy Information Administration and Bloomberg, respectively. Weekly indices, Wednesday to Wednesday, were preferred in order to overcome the different stock markets days closure across the eight countries considered in this study. We define weekly returns as logarithmic differences of oil and stock prices. Following Caporale et al. (2006) and Al-Maadid et al. (2016), we use a multivariate GARCH-BEKK model to test for volatility spillover by placing restrictions on the relevant parameters. We consider the following two null hypotheses: i) Tests of no stock price volatility spillover to oil price volatility (H0: Stock → Oil: a21?g21?0) and ii) Tests of no oil price volatility spillover to stock price volatility (H0: Oil → Stock: a12?g12?0). The results indicate that there is volatility spillover from oil prices volatility into stock market returns volatility. There is evidence of significant conditional volatility spillover, measured by g12, running from oil towards UAE (0.130), Qatar (0.134) and Oman (0.259). These results are consistent with other findings which show significant volatility spillovers between oil and stock markets in the GCC region. However volatility spillover from stock market returns volatility into oil prices volatility. The conclusion of this paper helps with moving to a more diversified and knowledge based economy because it identifies the effects of oil prices volatility on stock markets volatility for eight oil exporter countries (GCC and non GCC counties). By using weekly data for the 2004–2015 period and using Wednesday to Wednesday weekly prices to overcome the different weekend effect, and by using the US stock market because it is a proxy for the business cycle and an international stock market, we model the relationship between oil and stock prices using a multivariate GARCH-BEKK model. We find evidence of co-movement between oil and stock markets, especially in the GCC region, whereas results for volatility spillovers are quite mixed. Consequently, general policies aimed at stabilizing stock prices in oil exporting countries should be formulated by diversification. The specific linkages between different markets need to be taken into account in order to devise appropriate policy measures.qscienc

Spillovers between food and energy prices and structural breaks

This paper estimates a bivariate VAR-GARCH(1,1) model to examine linkages between food and energy prices. The adopted framework is suitable to analyse both mean and volatility spillovers, and also allows for possible parameter shifts resulting from four recent events, namely: 1) the 2006 food crisis, 2) the Brent oil bubble, 3) the introduction of the Renewable Fuel Standard (RFS) policy, and 4) the 2008 global financial crisis. The empirical findings suggest that there are significant linkages between food and both oil and ethanol prices. Further, the four events considered had mixed effects, the 2006 food crisis and 2008 financial crisis leading to the most significant shifts in the (volatility) spillovers between the price series considered

Political tension and stock markets in the Arabian Peninsula

This note investigates the effects of the recent political tensions in the Arabian peninsula on the linkages between the stock markets of the leading Gulf Cooperation Council countries by estimating a VAR-GARCH(1,1) model at a weekly frequency. The results indicate that the June 2017 crisis lowered stock market returns and generally led to greater volatility spillovers within the region. This evidence supports the need for further financial integration and suggests fewer portfolio diversification opportunities for investors in the Gulf Cooperation Council region. 2020 The Authors. International Journal of Finance & Economics published by John Wiley & Sons Ltd.We would like to thank the editor and two anonimous referees for very helpful comments and suggestions. The first author would also like to thank Qatar University for financial support, Grant QUCP-CBE-2018-1. The findings are solely the responsibility of the authors.Scopu

Understanding Water Consumption in Qatar: Evidence From a Nationally Representative Survey

This paper presents an analysis of a nationally representative (n = 1,002) telephone survey conducted in Qatar on habits, perceptions, and religious attitudes related to water use. Our empirical analysis yields three main findings. When asked whether religious obligation was a reason to save water, (Formula presented.) of respondents agreed with the statement, showing it to be an important stated motive for water conservation. However, we find no statistically significant relationship between stated attitudes towards water use and actual water consumption. Second, when asked to estimate their monthly water use, participants' actual water consumption was similar to how they perceived it to be, on average, but different at the decile level. Third, certain household water usage characteristics are associated with significantly higher levels of water consumption. These include: nationality, education, number of adults in the residence, among others. 2022 Informa UK Limited, trading as Taylor & Francis Group.We thank the editor, Christos Makropoulos and three anonymous reviewers, for very helpful feedback. Additionally, we thank Alecia Cassidy for useful discussions. This paper was made possible by NPRP grant # NPRP10-0131-170-300 from the Qatar National Research Fund (a member of Qatar Foundation). The statements made herein are solely the responsibility of the authors. In addition, we thank the Eng. Nasser A. Al Khuzaei, Conservation and Energy Efficiency Department, the Qatar General Electricity and Water Corporation "KAHRAMAA" for his very helpful feedback and support.Scopu

Dynamic risk spillovers and portfolio risk management between precious metals and global foreign exchange markets

This study examines portfolio management and risk spillovers between four major precious metals (gold, silver, palladium and platinum) and 20 important U.S. exchange markets. To this end, we employ the multivariate DECO-GARCH model and the spillover index developed by Diebold and Yilmaz (2014, 2016) to examine the spillovers between those metal prices and the exchange rates and design portfolios and hedging strategies using different risk measures. The results show evidence of weak average conditional equicorrelations among the considered markets over time, excluding the turbulent 2008–2010 period. Furthermore, the precious metals (excluding platinum) and the currencies (with the exception of the Australian, Brazilian, Denmark, Euro, Mexican, Norwegian, New Zealand and Swedish currencies) are net receivers of shocks. Finally, the four precious metals provide strong risk and downside risk reductions, underscoring the usefulness of including precious metals in a traditional foreign exchange-dominated portfolio.The fourth author (Alanoud Ali S A Al-Maadid) acknowledges the financial support by Qatar University internal research grant [QUCP-CBE-2018-1]. The last author (Sang Hoon Kang) acknowledges the financial support by the Ministry of Education of the Republic of Korea and the National Research Foundation of Korea (NRF-2017S1A5B8057488)

Systematic Analysis of Artificial Intelligence-Based Platforms for Identifying Governance and Access Control

Artificial intelligence (AI) has become omnipotent with its variety of applications and advantages. Considering the other side of the coin, the eruption of technology has created situations that need more caution about the safety and security of data and systems at all levels. Thus, to hedge against the growing threats of cybersecurity, the need for a robust AI platform supported by machine learning and other supportive technologies is well recognized by organizations. AI is a much sought-after topic, and there is extolling literature available in repositories. Hence, a systematic arrangement of the literature that can help identify the right AI platform that can provide identity governance and access control is the need of the hour. Having this background, the present study is commissioned a Systematic Literature Review (SLR) to accomplish the necessity. Literature related to AI and Identity and Access Management (IAM) is collected from renowned peer-reviewed digital libraries for systematic analysis and assessment purposes using the systematic review guidelines. Thus, the final list of articles relevant to the framed research questions related to the study topic is fetched and is reviewed thoroughly. For the proposed systematic research work, the literature reported during the period ranging from 2016 to 2021 (a portion of 2021 is included) is analyzed and a total of 43 papers were depicted more relevant to the selected research domain. These articles were accumulated from ProQuest, Scopus, Taylor & Franics, Science Direct, and Wiley online repositories. The article's contribution can supplement the AI-based IAM information and steer the entities of diverse sectors concerning seamless implementation. Appropriate suggestions are proposed to encourage research work in the required fields.This work was supported by Qatar University (Internal Grant no. IRCC-2021-010)

مدى تأثير الأحاديث الضعيفة والموضوعة على دور المرأة وتمكينها في المجتمع دراسة ميدانية على عينة من طلاب وطالبات جامعات دولة قطر

إنه مما لا شك فيه أن علاقة الرجل بالمرأة تتعرض لمؤثرات عدة: ثقافية، واجتماعية، وسياسية، مما قد يكون له بالغ الأثر على هذه العلاقة بالإيجاب أو السلب. وتعد الأحاديث الضعيفة والموضوعة من الروافد الثقافية التي لها علاقة بطبيعة الاتجاه نحو المرأة في المجتمعات الإسلامية وتمكينها الإيجابي في المجتمع؛ لاحتوائها على مجموعة من المفاهيم والأدبيات التي تؤثر في العقل المسلم، والتي استوطنت فيه قرونًاا لازالت أنفاسها تظهر من هنا وهناك على شكل تيارات فكرية، تنادي باختزال أدوار المرأة المتعددة في المجتمع في دور أوحد -مع أولويته- وهو بيتها؛ لتقر فيه جاهلة لا نصيب لها من علم، ولا حظ لها من ثقافة. وقد تُرَسِّخُ هذه الأحاديث الضعيفة والموضوعة الكثير من السلوكيات والتصرفات تجاه المرأة والحيلولة دون تمكينها الإيجابي في المجتمع، انطلاقًاا من القناعة الفكرية بهذه الأحاديث وجدواها، كما تَكْمُن خطورة مثل تلك الأحاديث عندما يتم تطبيقها بصورة عملية من أفراد المجتمع دون التأكد من صحتها أو ثبوتها، كما أن هذا لا ينفى احتمالية وجود فئةٍ معينةٍ تأخذ من هذه الأحاديث ما يوافق مزاجها الفكري، أو تقاليدها المتبعة، أو أعرافها المستقرة، وتعمل على إلباس هذا الفكر وتلك التقاليد القداسة والشرعية مما قد يؤثر بالسلب على مكانة المرأة وتمكينها في المجتمع المسلم. ومما تهدف إليه الدراسة ١-  قياس المدى المعرفي لهذه الأحاديث من حيث تواجدها ومدى صحتها لدى عينة البحث والمصادر التي تنتشر من خلالها. ٢-  قياس مدى التَأَثُّر بالأحاديث الضعيفة والموضوعة والتي وجَّهت الأمة قرونًاا طويلنًا في الاتجاه السلبي نحو المرأة وحالت دون تمكينها بشكل إيجابي في المجتمع. ٣-  الرغبة في إدماج المرأة في المسار التنموي العام إدماجاً إيجابياً وعادلاً. ٤-  السعي في عودة الوعي الفكري الصحيح في هذه القضية لمواجهة مزاعم الانتقاص من مكانة المرأة ودورها المجتمعي في الشريعة الإسلامية. ٥-  الإسهام في زيادة الوعي للحيلولة دون وقوع التصدع الأسري نتيجة العمل بهذه الأحاديث والذي يؤثر سلبا على الاستقرار الأسري للمجتمع. ٦-  بيان ضعف وزيف بعض المؤثرات الثقافية التي قد تحول دون دمج المرأة في مؤسسات المجتمع وتمكينها من أداء دورها المجتمعي. ٧-  تنقية الجانب الثقافي عند طلاب الجامعات يعد دعما للثقافة التي تميز دولة قطر من خلال ترسيخ القيم والمبادئ العربية والإسلامية الصحيحة والتي تضمن السلم والأمن الاجتماعي والاستقرار داخل المجتمع القطري. ٨-  تعزيز مكانة الثقافة العربية الإسلامية في نفوس طلاب الجامعات في دولة قطر من خلال تنقية هذه الثقافة مما شابها وكدرها. واستخدم الباحثون المنهج الوصفي التحليلي في إجراء هذا البحث، ويهدف المنهج الوصفي التحليلي إلى رصد الظاهرة موضع البحث بدون أي تدخل من الباحثين، ووصفها وصفاً دقيقاً من حيث جوانب القوة والضعف الموجودة في ظاهرة البحث، ثم تحليل هذه المعلومات من أجل تفسير هذه الظاهرة بصورة علمية. ويتم تنفيذ الدراسة التطبيقية المقصودة عن طريق عينة عشوائية حجمها ٦٠٠ طالب وطالبة بواقع ١٠٠ لكل باحث من الطلاب وعددهم ستة: ثلاث من البنين، وثلاثة من البنات؛ ليقوم الطلاب بعمل الدراسة مع البنين وتقوم الطالبات بعمل الدراسة مع البنات. وهذه العينة تكون ممثلة للشباب في جامعات دولة قطر (جامعة قطر الوطنية - كلية المجتمع - وغيرها من الجامعات في دولة قطر) ويتم تحديد نسب الطلاب والطالبات في كل جامعة بنااً على نسب التمثيل العددي لكل جامعة. وخلص الجانب النظري إلى ١-  علاقة الرجل بالمرأة تتأثر بالمتغيرات الثقافية والاجتماعية والسياسية السائدة في المجتمع. ٢-  تنوع الأحاديث الموضوعة والضعيفة وكثرتها واتساعها لتشمل الكثير من قضايا المرأة ومكانتها في الأسرة وكيفية التعامل معها في الأحوال المختلفة وهذا أحدث لباًا للحق بالباطل واختلااًا للصواب بالخطأ. ٣-  الأحاديث الموضوعة تؤدي إلى إلباس الفكر المنحرف تجاه المرأة ثوب القداسة والشرعية. ٤-  السعي في عودة الوعي الفكري الصحيح في هذه القضية من شأنه القضاء على مزاعم انتقاص المرأة لحقوقها ودورها في الدين الإسلامي. ٥-  لا يقتصر دور المرأة داخل محيطها الأسري وإنما يتجاوزه إلى رعاية المجتمع كما هي رعاية الأبناء والأسرة تمااًا. ٦-  المشاركة الإيجابية للمرأة في المجتمع هو أساس أي تقدم اجتماعي؛ لذا من الضروري تأهيل المرأة وإعادتها لسابق دورها من النشاط والحيوية والتفاني في خدمة مجتمعها. ٧-  التنازل عن دور المرأة هو تنازل طوعي عن قدرات نصف المجتمع والتأثير في قدرات النصف الآخر. ٨-  التعرف على الواقع الفعلي لدور المرأة هو السبيل الوحيد للعمل على نيل المرأة لحقوقها وتبوؤ مكانتها دون منة من المجتمع. وتوصي الدراسة في جانبها النظري بضرورة إجراء مثل هذه الدراسات لبحث مدى تأثُّر دور المرأة في المجتمع بالمؤثرات الثقافية التي لها دور في التعامل السلبي مع المرأة. وأما الجانب التطبيقي للدراسة فمن المتوقع الانتهاء منه وتحليل نتائجه وسيتم تضمينه في الدراسة قبيل موعد عقد المؤتمر بعون الل

Transforming the Capabilities of Artificial Intelligence in GCC Financial Sector: A Systematic Literature Review

Identity and access management is a business process framework that makes it easier to maintain genuine user identities and regulate access to sensitive assets. The word "access control"refers to an organization's policy for authorizing access procedures, the mechanisms that implement and enforce the policy, and the model that the policy and procedures are built on. Adopting new technology may give rise to specific cyber threats that decrease or degrade business operations. The paper has designed to discuss the artificial intelligence-based access control system as a necessary component of governing and safeguarding the financial sector's information assets in the Gulf Cooperation Council (GCC) region. Due to the dynamic and complicated nature of security rules for access control, organizations that employ web-enabled remote access in conjunction with applications access deployed over several networks face various obstacles, including increased operational complexity and monitoring concerns. Organizations spend a vast budget on securing their business. As the industry trend has shifted to intelligent internet-based companies on the same side, the cyber threat has become a challenge for the researcher to find the solution. A systematic research is conducted to fill the gaps in the existing literature by picking the most relevant research papers (126) from the four most reputable online repositories based on the four research questions specified. These research topics aim to evaluate the current situation from many perspectives and provide new avenues for future study to be studied soon to maintain high security and authenticity inside financial sectors of the GCC's countries