Middle East ETF News Older than One Year
Bourse sheds EGP 15.99bn; capital gain tax takes the blame
Responding to losses, Egyptian Exchange suspends trading for 30 minutes
June 1, 2014--The Egyptian stock market witnessed a 4.22% plummet in its benchmark index, the EGX-30, dropping from Thursday's 8242.94 points to 7894.73, and shedding EGP 15.99bn Sunday.
Last Thursday, the market loss registered over EGP 12bn.
Small and medium enterprises Index EGX-70 dropped by 4.88% and reached 560.73 points, compared to 589.50 points registered at the end of last week's trading.
Source: Daily News Egypt
Market surges 5.27% to near 13,700 mark on MSCI index inclusion
May 31, 2014--Qatar Stock Exchange (QSE) witnessed an unprecedented upward rally and volumes on the last day of the week, coinciding with its inclusion in the global index compiler MSCI emerging market (EM) index.
Foreign institutions' net buying witnessed an almost seven-fold jump, which helped the market surge 5.27% to near the 13,700 mark during the week that saw QSE being formally inducted into the emerging market index.
Source: Zawya
Financials lift Kuwait Stock Exchange
May 29, 2014--The KSE market index added 0.45 per cent, closing at 7,291.09 points on Thursday, May 29.
The biggest lender in the northern Gulf state National Bank of Kuwait added one percent to reach KD1.00. Investors Holding Group was the most liquid share, edging up by 6.25 per cent to hit KD0.17.
Source: AME Info
Green Crescent shareholders okay alliance with AXA
May 29, 2014-=Like the Dubai market, the stock exchange in Abu Dhabi finished May on a high note, ending 3.55 per cent higher at 5,154. 24 points on Thursday, May 29.
National Bank of Abu Dhabi, the biggest lender in the UAE capital, surged 12.67 per cent to hit AED16.90. National Takaful Company or Watania dived 10...
Source: AME Info
Egypt approves new 10% capital gains tax on stock market profits
May 29, 2014--Egypt has approved the introduction of a 10 per cent capital gains tax on profits made on the stock market, the country's Finance Minister Hany Dimian told Reuters on Thursday.
The tax is part of the first phase of income tax reforms in the country expected to bring in 10 billion Egyptian pounds ($1.40 billion), Dimian said. He said the tax will not be retroactive and will be implemented once a law is issued.
Source: Gulfnews.com
Dubai bourse finishes May on a bullish note
May 29, 2014--Investors needed nerves during this volatile last week of May, as the Dubai Financial Market General Index (DFMGI)-after plummeting 3.26 per cent yesterday-surged 4.10 per cent to hit to hit 5,043.80 points on Thursday, May 29.
Positive input from Asian markets which surged on general optimism on lower interest rates in...
Source: AME Info
Mobily pulls out of interest purchase discussions with Go
May 29, 2014--The Saudi Arabian Tadawul All-Share Index failed to join the bull's run in other GCC countries and closed slightly higher at 9,823.4 points or up 0.25 per cent on Thursday, May 29.
SABIC, the world's biggest producer of petrochemicals, fell by 1.10 per cent to SAR115.50. Etihad Etisalat Company, better known as Mobily, advanced by
Source: AME Info
Despite good news, Saudi insurance firm Bupa Arabia shares fall
May 28, 2014--The Tadawul All-Share Index slipped 0.32 per cent to 9,798.45 points on Wednesday, May 28.
Bupa Arabia for Cooperative Insurance fell by 1.10 per cent to SAR88.50. Earlier in the day, the insurance company said it received approval from the Saudi Arabian Monetary Agency or SAMA of the renewal of its insurance activities license for...
Source: AME Info
Qatari shares lose across the board
May 28, 2014--The QE 20 Index fell by 0.60 per cent to 13,418.27 points on Wednesday, May 28.
All sector indices with the exception of the transport segment ended in the red. Earlier in the day, Deutsche Bank research said the newly imposed rule that non-GCC foreigners can own up to 49 per cent of Qatari companies
Source: AME Info
RAK Ceramics gains on SCA approval for RAK ruler stake sale
May 28, 2014--On Wednesday, May 28, the Abu Dhabi equity market index ADXGI dived 2.37 per cent lower to close at 4,977.67 points.
Asmal lost the most, finishing off by 10 per cent (limit down) to AED5.40. Ras Al Khaima (RAK) Ceramic gained 0.27 per cent to reach AED3.70. Earlier in the day, the world's biggest producer
Source: AME Info
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