iShares Trust iShares MSCI Saudi Arabia ETF (ARCA: KSA)

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The fund generally will invest at least 90% of its assets in the component securities of the index and in investments that have economic characteristics that are substantially identical to the component securities of the index. The index is a free float-adjusted market capitalization-weighted index with a capping methodology applied to issuer weights so that no single issuer exceeds 25% of the index weight, and all issuers with a weight above 5% do not cumulatively exceed 50% of the index weight. The fund is non-diversified.

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Saudi Jan. Oil Exports Down 0.4% YoY

<a href="https://www.arabnews.com/node/2581633/business-economy" title="https://www.arabnews.com/node/2581633/business-economy">https://www.arabnews.com/node/2581633/business-economy</a>

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Saudi Arabia, France Sign Power Purchase Agreement Along With Chinese Company For Solar Power Plant Project; Saudi Arabia, TotalEnergies Sign Agreements For Solar Power Plants

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Biden Says Over Coming Days, US Will Make A Push With Turkey, Qatar And Others For Gaza Ceasefire

Saudi Arabia is planning a new artificial intelligence project with backing of as much as $100 billion as it seeks to develop a technological hub to rival the neighboring United Arab Emirates, people familiar with the matter said.&nbsp;
<a href="https://www.bloomberg.com/news/articles/2024-11-06/saudis-plan-100-billion-ai-powerhouse-to-rival-uae-s-tech-hub?srnd=homepage-americas" title="https://www.bloomberg.com/news/articles/2024-11-06/saudis-plan-100-billion-ai-powerhouse-to-rival-uae-s-tech-hub?srnd=homepage-americas">https://www.bloomberg.com/news/articles/2024-11-06/saudis-plan-100-billion-ai-powerhouse-to-rival-uae-s-tech-hub?srnd=homepage-americas</a>

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'Saudis Plan $100 Billion AI Powerhouse to Rival UAE's Tech Hub' - Bloomberg

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Iran Brokering Secret Talks To Send Russian Anti-Ship Missiles To Yemen's Houthis; Moscow Has Yet To Decide To Send Missiles In Iran-arranged Talks; Missiles Would Increase Houthis' Ability To Strike Red Sea Commercial Shipping And Increase Threat To U.S. And Allied Warships; Houthis Could Use Missiles On Land To Threaten Saudi Arabia

<a href="https://www.semafor.com/article/09/11/2024/us-closer-to-green-lighting-nvidia-chips-for-saudi-arabia" title="https://www.semafor.com/article/09/11/2024/us-closer-to-green-lighting-nvidia-chips-for-saudi-arabia">https://www.semafor.com/article/09/11/2024/us-closer-to-green-lighting-nvidia-chips-for-saudi-arabia</a>

'US closer to green lighting Nvidia chips for Saudi Arabia' - Semafor

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Saudi Arabia Said To Launch $10B Aramco Share Sale On Sunday

<a href="https://www.wsj.com/business/energy-oil/saudi-arabia-to-raise-10-billion-to-20-billion-in-fresh-aramco-stock-sale-e8e70ba8?mod=latest_headlines" title="https://www.wsj.com/business/energy-oil/saudi-arabia-to-raise-10-billion-to-20-billion-in-fresh-aramco-stock-sale-e8e70ba8?mod=latest_headlines">https://www.wsj.com/business/energy-oil/saudi-arabia-to-raise-10-billion-to-20-billion-in-fresh-aramco-stock-sale-e8e70ba8?mod=latest_headlines</a>

'Saudi Arabia to Raise $10 Billion to $20 Billion in Fresh Aramco Stock Sale' - WSJ

Saudi Arabia's PIF Considering Reorganization Amid Budget Cuts And Project Delays, Sources Say; PIF Spokesman Declined Immediate Comment

Following a report that said the<a href="https://www.benzinga.com/news/24/04/38482620/us-state-secretary-antony-blinken-arrives-in-saudi-arabia-to-discuss-gaza-governance-after-israel-ha"> U.S. and Saudi Arabia are nearing a historic pact </a>that would offer the latter security guarantees and lay out a possible pathway to diplomatic ties with Israel, an investment advisor weighed in on what may have precipitated the development.
What Happened: Saudi Arabia may have come around because of its need for data centers and semiconductors said, Lumida Wealth co-founder Ram Ahluwalia, explaining the potential backstory behind the rumored <a href="https://www.bloomberg.com/news/articles/2024-05-01/us-and-saudis-near-defense-pact-aimed-at-reshaping-middle-east">deal.</a>
&#8220;Semiconductors are the New Oil,&#8221; the wealth manager said. 
In a win-win proposition, the U.S. would want lower oil and gas prices and a win in the Middle East, Ahluwalia said. The U.S., though not having export controls on Saudi, can interrupt Nvidia chip flow to Riyadh, he added.
&#8220;Remember, Saudi is building 60 data centers and diverting investment from ‘The Linear City,'&#8221; Ahluwalia said. In 2021, the Saudi government unveiled plans for the city of Neom, including a megastructure called &#8220;The Line Saudi Arabia,&#8221; which is to be built in a straight line. It was conceived as a city to be home to about 1.5 million people on a footprint of just 13 sq miles. Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-04-05/saudis-scale-back-ambition-for-1-5-trillion-desert-project-neom">reported</a> in early April that the country has scaled back ambitions for the $1.5 trillion project.
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best Artificial Intelligence Stocks</a>
Why It&#8217;s Important: There is a precedence of the U.S. exerting its clout as a tech pioneer. The country banned exports of high-performance AI chips made by Nvidia and AMD to a few countries, with China being the chief among them. The ban was predicated on the view that these chips were being used to &#8220;produce advanced military systems including weapons of mass destruction&#8221; and &#8220;commit human rights abuses.&#8221;
Saudi Arabia and UAE were bulking up on Nvidia&#8217;s high-performance chips that power AI software and applications amid the AI arms race, said FT in an August 2023 report.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33853092/nvidia-flooded-with-ai-chip-orders-from-oil-rich-saudi-arabia-uae-in-race-for-compu">Saudi alone bought at least 3,000 of Nvidia&#8217;s H100 chips</a>, priced at $40,000, through the public research institution King Abdullah University of Science and Technology, the report said. The massiveness of the purchase can be gauged from the fact that OpenAI reportedly used 1,024 A100 chips, H100&#8217;s predecessor, to train its advanced GPT-3 model in over a month.
The iShares MSCI Saudi Arabia ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSA#NYSE">KSA</a>) ended Wednesday&#8217;s session down 0.12% at $42.97, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The Global X Artificial Intelligence &amp; Technology ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIQ#NASDAQ">AIQ</a>) fell 0.37% to $31.97.
Read Next: <a href="https://www.benzinga.com/news/24/04/38498886/microsoft-meta-and-alphabet-ramp-up-ai-investments-spend-over-32b-in-q1">Microsoft, Meta, and Alphabet Ramp Up AI Investments, Spend Over $32B in Q1</a>
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'Semiconductors Are The New Oil:' Wealth Manager Says Saudi Arabia's Need For Data Centers Is Nudging It Toward Historic US Talks

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Saudi Arabia Has Not Yet Responded To The Invitation To Join BRICS, Initiation Is Still Under Consideration By Saudi Arabia

In what appears to be a major development in the ongoing Israel-Hamas conflict, a potential ceasefire and significant hostage release are reportedly close to <a href="https://www.benzinga.com/topic/israel">being finalized on Tuesday. </a>
This breakthrough could mark a pivotal moment in the hostilities that have lasted for more than a month.
Here are the latest developments: 
Details of the ceasefire and hostage release: A political source revealed on Tuesday that a ceasefire agreement between Israel and Hamas is expected to last five days, during which 40 children and 13 female hostages will be released from Hamas captivity. Multiple officials, in contact with <a href="https://edition.cnn.com/middleeast/live-news/israel-hamas-war-gaza-news-11-21-23/index.html">CNN</a>, confirmed this advancement in negotiations.
Optimistic remarks from Netanyahu: Israeli Prime Minister Benjamin Netanyahu, in a statement released by his office, expressed cautious optimism. &#8220;We are making progress&#8230; I hope there will be good news soon,&#8221; Netanyahu said, indicating that a positive outcome might be imminent.
War Cabinet meetings scheduled: Responding to these developments, Israel&#8217;s war cabinet is scheduled to meet on Tuesday. This will be followed by the security cabinet and then the government. Netanyahu&#8217;s office announced these meetings specifically to address the evolving situation regarding the hostages&#8217; release. 
Hamas Leader&#8217;s statement: Echoing a similar sentiment, Hamas leader Ismail Haniyeh indicated the proximity of an agreement with Israel. He noted in a statement to Reuters that Hamas conveyed its stance to Qatari mediators, signaling that a resolution might be close.
Gantz on hostage return: War Cabinet Minister Benny Gantz underscored the critical need to bring back hostages taken by Hamas and other terror groups. He stressed the current period&#8217;s sensitivity for Israeli society, underscoring the high stakes involved in the negotiations, as the <a href="https://www.timesofisrael.com/liveblog-november-21-2023/">Times of Israel </a>reported. 
Qatar's role in mediation: Qatar, playing a crucial mediating role, expressed confidence in finalizing the agreement. Dr. Majed Al Ansari of the Qatari Ministry of Foreign Affairs shared their optimism and readiness for a successful humanitarian truce, <a href="https://www.aljazeera.com/news/liveblog/2023/11/21/israel-hamas-war-live-medics-patients-remain-trapped-in-gaza-hospitals">Al Jazeera</a> reported Tuesday. 
<h2 class="wp-block-heading">Market Reactions</h2>
The Israeli domestic stock market, as represented by the Tel Aviv 225 index, experienced a slight uptick of 0.11% on Wednesday, returning to levels last observed on Oct. 11.
The exchange-traded fund available to U.S. investors, focusing on Israeli stocks, the iShares MSCI Israel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIS#NYSE">EIS</a>), which also takes into account the shekel&#8217;s performance against the dollar, has now rebounded to the levels it was trading at prior to the Hamas attacks on Oct. 7.
Over the past month, the standout performers have been high-tech companies, including Innoviz Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INVZ#NASDAQ">INVZ</a>), Monday.Com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) and Nova Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVMI#NASDAQ">NVMI</a>), boasting impressive returns of 40%, 28% and 26%, respectively.
Other regional stock indices showed a modest decline, reflecting a deteriorating overall risk sentiment ahead of the FOMC meeting minutes. The iShares MSCI UAE ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAE#NYSE">UAE</a>) and the iShares MSCI Saudi Arabia ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSA#NYSE">KSA</a>) dipped by 0.3% and 0.6%, respectively. The iShares MSCI Qatar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QAT#NASDAQ">QAT</a>) experienced a 0.5% drop.
<h2 class="wp-block-heading">Chart: Israel ETF Fully Erased Post-Oct. 7 Losses</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/21112946/EIS_2023-11-21_15-28-05_8e466-1-1024x723.png" alt="" class="wp-image-147186" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/21112946/EIS_2023-11-21_15-28-05_8e466-1-1024x723.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/21112946/EIS_2023-11-21_15-28-05_8e466-1-300x212.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/21112946/EIS_2023-11-21_15-28-05_8e466-1-768x542.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/21112946/EIS_2023-11-21_15-28-05_8e466-1.png 1530w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Now: <a href="https://www.benzinga.com/news/23/11/35872246/fomc-minutes-could-provide-markets-with-a-sobering-reminder-of-higher-for-longer">FOMC Minutes Could Provide Markets With Sobering Reminder Of &#8216;Higher For Longer&#8217;</a>
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Israel-Hamas, Day 46: Temporary Truce, Hostage Release Loom; Israeli Stocks Recoup Losses Post-October 7 Attacks

As the conflict between Israel and Hamas enters its forty-second day, it continues to evolve with key updates in hostage negotiations, increased global diplomatic efforts, <a href="https://www.benzinga.com/topic/israel">and persistent military actions. </a>
Here&#8217;s a recap of the latest overnight developments:
Negotiations for hostage release: The <a href="https://www.washingtonpost.com/national-security/2023/11/15/hamas-israel-gaza-hostage-deal/">Washington Post</a> reported that Hamas is agreeing in principle to a deal involving the release of hostages. An Arab diplomat, familiar with the ongoing negotiations, revealed that Hamas has consented in principle to the release of at least 50 women and children among approximately 240 foreign and Israeli hostages. Israel is currently considering this proposal, with the decision still pending.
Biden&#8217;s accuses Hamas during meeting with Xi: During a meeting with Chinese President Xi Jinping, President Joe Biden expressed cautious optimism about the prospects of releasing the hostages. As reported by <a href="https://edition.cnn.com/middleeast/live-news/israel-hamas-war-gaza-news-11-16-23/index.html">CNN</a>, Biden also accused Hamas of committing war crimes &#8220;by having their headquarters, their military hidden under a hospital.&#8221;
Iran-Hamas meeting: In a separate development, Iran&#8217;s supreme leader reportedly conveyed a stern message to the head of Hamas during their meeting in Tehran. According to Reuters, this message centered on Hamas&#8217;s unilateral actions and Iran&#8217;s stance in the conflict. The Islamic Republic claimed that Hamas gave &#8220;no warning of Oct. 7 attack on Israel and we will not enter the war on your behalf.&#8221; Hamas has denied the accuracy of this Reuters report.
IDF operations in Shifa hospital: The IDF&#8217;s elite Shaldag unit and the 36th Division are continuing operations within the Shifa Hospital complex. They have reportedly uncovered weapons and intelligence materials, including information related to Hamas's attacks. A <a href="https://www.bbc.com/news/world-middle-east-67436154">BBC</a> reporter was informed of the discovery of a laptop containing photos and videos of hostages.
Control over Gaza's harbor: The Israeli army has gained control over Gaza's harbor, neutralizing militants and dismantling military infrastructure, as posted in the Israeli Defense Forces&#8217; (IDF) <a href="https://x.com/IDF/status/1725126463421116674?s=20">official account on X.</a> 
International reactions: Saudi Arabia and South Africa have voiced strong condemnations of Israel&#8217;s actions in Gaza, with South Africa referring Israel to the International Criminal Court over alleged war crimes. Saudi Arabia specifically condemned the raid on the Al Shifa Complex and an incident near the Jordanian Field Hospital, <a href="https://www.bloomberg.com/news/articles/2023-11-16/israel-latest-biden-backs-army-raid-on-gaza-s-largest-hospital?utm_content=business&amp;utm_medium=social&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;cmpid=socialflow-twitter-business&amp;sref=TBDibEcD">Bloomberg</a> reported. 
Israeli strike on Hamas leader&#8217;s home: The Israeli military struck the Gaza home of Hamas leader Ismail Haniyeh, who is currently living in Qatar.
<h2 class="wp-block-heading">Market Reactions</h2>
The Israeli shekel (ILS) was up 0.3% at the time of this writing on Thursday, partially erasing Wednesday&#8217;s decline. 
The Israeli domestic stock market, as represented by the Tel Aviv 125 Index, rose 0.9% on the day. On Tuesday, the iShares MSCI Israel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIS#NYSE">EIS</a>) soared 4.1%, matching the performance seen in the Oct. 30 session, which is the strongest in over a year. 
Saudi stocks also rose, with the domestic Tadawul Index posting its third straight session of gains. The iShares MSCI Saudi Arabia ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSA#NYSE">KSA</a>) rose 1.2% Tuesday, hitting the highest levels since mid-September. 
Treasury yields fell, with the 10-year yield down 7 basis points to 4.46%. Gold as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) rose 0.6% to $1,971/oz. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 2.5% to $36,925. 
Read now: <a href="https://www.benzinga.com/news/earnings/23/11/35824643/nasdaq-s-p-futures-slip-after-walmart-cisco-earnings-spotlight-shifts-to-data-fed-speeches">Nasdaq, S&amp;P Futures Slip After Walmart, Cisco Earnings; Spotlight Shifts To Data, Fed Speeches</a>
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Israel-Hamas War, Day 42 – Hostage Release Negotiations Intensify, Biden Remains Cautiously Optimistic, Accuses Hamas Of War Crimes

Global financial markets are kicking off the week in reaction to the geopolitical shock of an escalation in the conflict between Israel and Hamas, the militant Islamist group that governs in the Gaza Strip.
The Middle East once again finds itself embroiled in conflict, with immediate repercussions reverberating in the oil market. WTI crude oil experienced a sudden surge of 4%, continuing to trade near $85 per barrel at 8 a.m. ET, making it the asset most responsive to the emerging <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/10/35140204/oil-spikes-5-us-stock-futures-fall-analysts-weigh-in-on-impact-of-israel-hamas-conf">Israeli-Palestinian crisis.</a>
Analysts seem to be leaning toward a bullish outlook on oil prices, as our <a href="https://www.benzinga.com/news/23/10/35138138/how-the-israel-hamas-conflict-could-impact-oil-markets">previous coverage has indicated.</a>
Goldman Sachs has offered its perspective on the matter, explaining how this new crisis in the Middle East could disrupt factors that might have eased the tight supply condition in the oil market.
<h2 class="wp-block-heading">Chart: Crude Oil Prices Open 4% Higher Monday</h2>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="730" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/09083152/WTI_2023-10-09_13-31-37_fba18-1024x730.png" alt="" class="wp-image-120573" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/09083152/WTI_2023-10-09_13-31-37_fba18-1024x730.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/09083152/WTI_2023-10-09_13-31-37_fba18-300x214.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/09083152/WTI_2023-10-09_13-31-37_fba18-768x547.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/09083152/WTI_2023-10-09_13-31-37_fba18.png 1515w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">US-Saudi Deal Now In Jeopardy: Goldman Sachs</h2>
&#8220;The escalating conflict in Gaza reduces the likelihood of a near-term normalization in Saudi-Israeli relations,&#8221; Goldman Sachs energy analyst Daan Struyven said in a Sunday note. 
On Friday, rumors circulated about a potential agreement between Saudi Arabia and the United States that would increase oil production and Saudi recognition of Israel in exchange for Washington&#8217;s defense support.
Goldman Sachs now anticipates that Saudi Arabia will gradually scale back the extra 1mb/d production cut by the first quarter of 2025. The likelihood of Saudi crude production remaining steady at 9mb/d in 2024 now appears more probable than before the weekend, the analyst said. 
Such a scenario would further boost the already bullish stance by Goldman Sachs on crude oil prices. The firm&#8217;s baseline scenario predicts Brent crude rising to $100 per barrel by June 2024. With the risks of tight supply from Saudi Arabia, Brent could potentially close the year at $104, Struyven said. 
<h2 class="wp-block-heading">Iranian Oil Supply Risks Resume</h2>
Goldman Sachs said the conflict in the Gaza Strip will have a detrimental impact on projections for Iranian oil production. 
According to Goldman&#8217;s forecasts, Iran&#8217;s crude production in 2024 is expected to reach 3.25mb/d, still 0.6mb/d below the production level Iran achieved in the first quarter of 2018, before the U.S. withdrew from the Joint Comprehensive Plan of Action.
Goldman estimates that any 100kb/d decline in Iran&#8217;s 2024 production compared to the baseline would mechanically raise the end-2024 Brent oil price by just over $1/bbl.
<h2 class="wp-block-heading">ETFs Affected By Israel-Hamas Conflict</h2>
The following exchange-traded funds that could potentially be affected by the new geopolitical shock:
<ol>
<li>United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>): This ETF is likely to be influenced by fluctuations in crude oil prices resulting from the Middle East conflict, as it tracks the price movements of WTI crude oil.</li>
<li>iShares MSCI Saudi Arabia ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSA#NYSE">KSA</a>): Given the potential impact on Saudi-Israeli relations and their significance in the oil market, this ETF, which tracks the performance of Saudi Arabian stocks, may see volatility.</li>
<li>VanEck Israel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ISRA#NYSE">ISRA</a>): This ETF focuses on Israeli stocks, and its performance could be directly affected by the ongoing conflict in the region.</li>
<li>ARK Israel Innovative Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IZRL#NYSE">IZRL</a>): As it invests in Israeli technology companies, this ETF may experience volatility depending on how the conflict affects the Israeli tech sector and broader market sentiment.</li>
</ol>
Read now: <a href="https://www.benzinga.com/markets/equities/23/10/35143020/s-p-500-nasdaq-set-for-bleak-start-to-week-as-middle-east-tensions-dampen-risk-on-mood-earnings-">S&amp;P 500, Nasdaq Set For Bleak Start To Week As Middle East Tensions Dampen Risk-On Mood: Earnings, Inflation Data In Focus</a>
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Goldman Sachs Bullish On Crude Oil With Israel, Hamas At War, Projects Brent Crossing $100

Global economic order sees potential disruption as dozens of countries are eyeing membership in BRICS, a collective of Brazil, Russia, India, China and South Africa. This group, positioned as a counterbalance to Western dominance, is convening in Johannesburg this week, sparking <a href="https://www.benzinga.com/topic/brics">speculations about new entrants.</a>
<h3 class="wp-block-heading">Potential Entrants: Economic Powerhouses and Diplomatic Maneuvers</h3>
Several nations are on the radar for BRICS membership, with Argentina, Egypt, Indonesia and Saudi Arabia at the forefront, as the <a href="https://www.nytimes.com/2023/08/23/world/asia/brics-nations-new-members-expansion.html">New York Times</a> reports. Iran&#8217;s interest is also notable. 
China&#8217;s push for expansion finds favor with Xi Jinping, while India&#8217;s Narendra Modi exercises more caution due to geopolitical dynamics.
The group of the five nations currently represent 40% of the global population and over a quarter of the world&#8217;s GDP. 
<h2 class="wp-block-heading">Insights into Prominent Contenders</h2>
<h3 class="wp-block-heading">Saudi Arabia: Oil Giant&#8217;s Pivot and Growing Ties</h3>
BRICS inclusion for Saudi Arabia, a top oil producer, could reshape the group&#8217;s financial influence. Despite strong U.S. ties, recent moves like cutting oil production and restoring diplomatic relations with Iran underscore Saudi Arabia&#8217;s pursuit of strategic autonomy.
<h3 class="wp-block-heading">Argentina: Economic Struggles and BRICS Backing</h3>
Argentina, with a significant economy in Latin America, seeks backing from India, Brazil and China. Amid economic turmoil, high inflation, and debt woes, Argentina&#8217;s potential BRICS membership could offer economic revitalization.
<h3 class="wp-block-heading">Iran: Energy Reserves and Geopolitical Alliances</h3>
Iran&#8217;s vast energy resources make it a compelling contender. Applying for BRICS membership aligns with its non-Western alliances, signifying economic and political collaboration.
<h3 class="wp-block-heading">Indonesia and Egypt: Strategic Alliances and Geopolitical Shifts</h3>
China and India advocate for Indonesia&#8217;s BRICS entry. Meanwhile, Egypt&#8217;s pivot away from dollar dependence and its strengthening ties with Russia and China add intrigue to the group&#8217;s expansion.
<h2 class="wp-block-heading">BRICS&#8217; Expansion: 5 ETFs To Monitor </h2>
Here are some ETF-related instruments that investors might consider for exposure to the mentioned countries:
<ol>
<li>iShares MSCI Saudi Arabia ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSA#NYSE">KSA</a>)
<ul>
<li>This ETF tracks the MSCI Saudi Arabia IMI 25/50 Index, providing exposure to Saudi Arabian equities. </li>
</ul>
</li>
<li>Global X MSCI Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>)
<ul>
<li>This ETF aims to replicate the performance of the MSCI All Argentina 25/50 Index, offering exposure to companies in Argentina. </li>
</ul>
</li>
<li>VanEck Vectors Egypt Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGPT#NYSE">EGPT</a>)
<ul>
<li>This ETF seeks to replicate the MVIS Egypt Index, providing exposure to publicly traded companies that are domiciled and primarily listed in Egypt. </li>
</ul>
</li>
<li>iShares MSCI Indonesia ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIDO#NYSE">EIDO</a>)
<ul>
<li>This ETF aims to track the performance of the MSCI Indonesia Index, offering exposure to Indonesian equities. </li>
</ul>
</li>
<li>iShares MSCI Emerging Markets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EEM#NYSE">EEM</a>)
<ul>
<li>This ETF tracks the MSCI Emerging Markets Index, providing broad exposure to emerging market equities across various countries.</li>
</ul>
</li>
</ol>
Read Now: <a href="https://www.benzinga.com/news/23/08/33957174/xi-jinpings-china-urges-brics-for-all-out-economic-war-against-g7-nations">Xi Jinping&#8217;s China Urges BRICS For All-Out Economic War Against G7 Nations</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

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