Middle East ETF News Older than One Year
Mazaya Qatar more than doubles annual net profit
March 24, 2014--The Qatar Exchange 20 Index declined by 0.72 per cent to close at 11,258.51 points on Monday, March 24.
The shares of Mazaya Qatar Real Estate Development Company jumped by 6.61 per cent to QAR13.38. Earlier in the day, Mazaya Qatar revealed for 2013 a net profit of QAR134 million ($36.18m) versus QR62.8m ($16.95m) in 2012.
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Source: AME Info
UAE's MSCI upgrade to bring $1bn windfall
Passive index trackers are institutional investors who follow certain fixed global investment trends via stock indexes, but many had been prevented from investing in UAE stocks when they had only "frontier" status.
Source: The National
Sahara Petrochemical approves 8.5 per cent dividend
The shares of Sahara Petrochemical fell by nearly four per cent to SAR20.55. Earlier in the day, Sahara Petrochemical revealed that that the ninth ordinary ...
Source: AME Info
Qatar Exchange remains under pressure amid diplomatic row
The three GCC states withdrew their ambassadors from Qatar, also a GCC member, two weeks ...
Source: AME Info
Abu Dhabi developers weigh on stock market
Aldar Properties and Eshraq Properties were the most liquid shares, closing 0.92 per cent and 1.30 per cent, respectively. National Corporation for Tourism & Hotels hit a limit ...
Source: AME Info
Dubai Ports World slips, reports rising profits
Dubai Investments gained the most, closing up by five percent at AED3.58. The shares of Dubai Ports (DP) World, which are listed on the DFM and Nasdaq Dubai, fell by 0.556 per ...
Source: AME Info
Macroprudential Policy in the GCC Countries
Fiscal policy is a very important tool for macroeconomic management, but due to the significant time lags and expenditure rigidities, it has not been a flexible enough tool to prevent credit booms and the build-up of systemic risk in the GCC. This, together with limited monetary policy independence because of the pegged exchange rate, means that macro-prudential policy has a particularly important role in limiting systemic risk in the financial system. This importance is reinforced by the underdeveloped financial markets in the region that provide limited risk management tools and shortcomings in crisis resolution frameworks. This paper will discuss the importance of macro-prudential policy in the GCC countries, look at the experience with macro-prudential policies in the boom/bust cycle in the second half of the 2000s, and use the broad frameworks being developed in the Fund and elsewhere to discuss ways existing frameworks and policy toolkits in the region can be strengthened given the characteristics of the GCC economies.
Source: IMF
Gulf Countries Should Refine Policies to Ensure Financial Stability-IMF Survey Reliance on oil revenues, importance of real-estate sector are sources of risks
Refining macroprudential policy is key to better manage financial cycles
The experience of the boom and bust in 2008-09 demonstrates the vulnerability of the member countries of the Gulf Cooperation Council (GCC)—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates-to credit and asset price cycles, and makes macroprudential policies especially important, says IMF.
Source: IMF
Khaleeji Commercial Bank appoints new chairman
Earlier in the day, KHCB revealed that, on March 18 (Tuesday), it appointed Dr. Ahmed Al-Mutawa as the Islamic bank's chairman. Abdulrahman Jamsheer has been appointed as vice-chairman. ...
Source: AME Info
Arabtec in the spotlight at Dubai market
Arabtec Holding was the most liquid share, as it surged by 5.11 per cent to AED5.55. On Tuesday (March 18), Arabtec revealed that, in 2013, it generated a net ...
Source: AME Info
March 22, 2014--About US$1 billion will flow into UAE stock markets from foreign index trackers alone as a result of the upgrade to emerging market status by MSCI later this year, experts believe.
March 20, 2014--The Tadawul All Share Index closed 0.14 per cent lower at 9,305.64 points on Thursday, March 20. SABIC, the biggest producer of petrochemical products and metals, ended unchanged at SAR115.50.
March 20, 2014--The Qatar Exchange 20 Index fell by 0.18 per cent to close at 11,367.31 points on Thursday, March 20. The gas-rich Gulf state still has no solution in sight for its diplomatic row with the UAE, Saudi Arabia and Bahrain.
March 20, 2014--The Abu Dhabi Securities Exchange General Index (ADXGI) lost for the second day straight, closing 0.91 per cent to close at 4,792.25 points on Thursday, March 20.
March 20, 2014--The Dubai Financial Market General Index (DFMGI) closed a rollercoaster trading week 0.97 per cent higher at 4,296.80 points on Thursday, March 20.
March 19, 2014--Summary: As undiversified commodity exporters, GCC economies are prone to pro-cyclical systemic risk in the financial system. During periods of high hydrocarbon prices, favorable economic prospects make the financial sector keen to lend, leading to higher domestic credit growth and easier access to external financing.
March 19, 2014--Gulf countries remain susceptible to boom and bust of credit and asset prices
March 19, 2014--The Bahrain All-Share Index slipped 0.16 per cent to reach 1,371.64 points on Wednesday, March 19. Khaleeji Commercial Bank (KHCB) gained 1.90 per cent to reach BHD0.054.
March 19, 2014--The Dubai Financial Market General Index (DFMGI) consolidated above 4,200 points on Wednesday, March 19, as the gauge finished 0.50 per cent higher at 4,255.57 points.
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