Middle East ETF News Older than One Year
The Saudi British Bank earns more, shares slip
July 9, 2014--The Riyadh-based Tadawul market added 0.10 per cent on Wednesday, July 9, closing at 9,787.41 points.
SABIC lost likewise 0.10 per cent, ending at SAR117.50. The Saudi British Bank (SABB) declined by 0.40 per cent to hit 49.50. The lender said it earned in the first half of 2014 a net income of SAR2.23 billion...
Source: AME Info
Abu Dhabi developer dips as Asteco releases quarterly report
July 9, 2014--The Abu Dhabi market index ADXGI fell by 0.10 per cent close at 4,840.23 points on Wednesday, July 9.
Aldar Properties declined by 0.28 per cent, finishing at AED3.60. Real estate services agency Asteco revealed earlier in the day, on average, apartment sales in the UAE climbed by four per cent quarter on quarter...
Source: AME Info
Gulf Finance House excites Dubai bourse on Dubailand deal
July 9, 2014--The Dubai equity market index DFMGI finished unchanged at 4,507.93 points on Wednesday, July 9, amid neutral market breadth.
Emaar Properties edged up by 0.76 per cent to close at AED9.29, as investors shrugged off a warning by rating agency Moody's that the UAE's biggest developer was facing oversupply risks. Arabtec ended a six-day gaining...
Source: AME Info
BlueStar Israel Equity Update-July 2014
Israeli Global Equities Firming Up After Consolidation
July 8, 2014--The BlueStar Israel Global Index(TM)("BIGI(R)") rose 2.45% in June after two consecutive monthly declines in April and May.
Israeli Global Equities outperformed most other global equity benchmarks including the S&P 500, while domestic Israeli equities as measured by the TA-100 and MSCI Israel indexes were down in June. Last month we became neutral/bullish on Israeli Global Equities based on firmer technical support and stronger market internals as defined by the ratio of gainers to losers in May. Additionally, market sentiment towards growth, small cap, and technology stocks turned positive in June (for example, the Russell 2000 index rose more than 5% during the month.)
Source: BlueStar Indexes
Egypt posts drop in foreign reserves
July 7, 2014--Egypt's central bank has said the country's foreign reserves dropped to $16.678bn at the end of June from $17.284bn in the previous month, Reuters has reported.
Reserves fell sharply after a 2011 uprising that ousted President Hosni Mubarak, but rose last year when Gulf Arab states gave billions of dollars of aid after the army...
Source: AME Info
Bank shares stabilize lackluster Abu Dhabi market
July 7, 2014-The Abu Dhabi market index ADXGI advanced by a tiny 0.05 per cent to reach 4,851.85 points on Monday, July 7.
Aldar Properties, the first developer in the UAE capital, fell by 3.20 per cent to AED3.63. Aldar said in a filing to the ADX, the board of directors will meet on July 10 to...
Source: AME Info
DSI's German subsidiary snatches deal-in India
July 7, 2014--At the Dubai stock exchange DFM, the market index DFMGI fell by 0.85 per cent higher to 4,554.58 points on Monday, July 7, amid slightly bearish market breadth.
Real estate and property maintenance firm Drake and Scull International, known as DSI, plummeted 3.14 per cent to AED1.54.
Source: AME Info
DP World shares knock at $20
July 7, 2014--The FTSE NASDAQ Dubai UAE 20 Index closed 0.41 per cent higher at 4,231.05 points on Monday, July 7.
Dubai Ports World, the third largest container port operator, jumped 5% to hit $19.75. Emirates REIT advanced 0.72 per cent to close at $1.4.
Source: AME Info
Egypt: Bourse Indexes Up at End of Week's Trading
July 4, 2014--The Egyptian Exchange indexes continued an upward trend this
week backed by share purchases by local institutions and funds.
Source: AllAfricanews.com
IMF-United Arab Emirates: Selected Issues
July 3, 2014--Summary: The strong recovery in the real estate market in Dubai requires close monitoring and further measures to discourage speculative demand. The residential and hospitality segments have seen buoyant growth (although the momentum seems to have slowed in recent months), while growth in the commercial segments (excluding hospitality) has been slower.
Dubai’s economy is now more resilient to exogenous shocks; however, speculation in the residential segment of the Dubai's real estate market may still return at a significant scale.
A number of measures that are expected to help reduce flipping activity have already been introduced. More measures from the macroprudential and fiscal toolkit for containing real estate booms may be needed, particularly if signs of flipping activity emerge strongly. Hosting a global-scale event may offer direct and indirect economic benefits, but it can also present risks. With its well-established status as a hub of regional tourism and well- developed infrastructure, the economy of Dubai (and of the United Arab Emirates) economy can benefit substantially from hosting the Expo 2020. Careful macroeconomic management and appropriate strategic planning measures will be essential to minimize cost overruns, avoid overheating, and limit real estate risks. These measures include preparing a sound feasibility study linked to the post-event period, developing realistic demand projections, financing the Expo and other project-related spending in a fiscally sustainable manner, and continuing to strengthen Dubai's public finances to increase buffers for possible cost overruns and losses.
view the IMF-United Arab Emirates: Selected Issues report
Source: IMF
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