Middle East ETF News Older than One Year
Dubai shares decline as investors book profits
December 16, 2013--Dubai shares dropped close to two per cent on Monday as investors booked profits after the gains in the past two weeks led the benchmark surge to more than 95 per cent on the year.
Also, concerns about Emaar Properties’ possible equity dilution is a factor in today's sell-off. The DFM General Index closed 1.61 per cent lower to 3135.17 led by real estate and construction stocks, which were among the major gainers during the latest rally.
Source: Zawya
IMF Concluding Statement of the 2013 Article IV Consultations with Israel
December 16, 2013--
1. The Israeli economy is growing at a moderate pace. Overall growth is projected to remain flat in 2013 at 3½ percent and moderate slightly to around 3¼ percent in 2014. Inflation pressures remain contained, with both headline and underlying inflation (CPI excluding energy) at the middle of the target range, and unemployment is low.
Concluding Statement of the 2013 Article IV Consultations with Israel December 16, 2013 1. The Israeli economy is growing at a moderate pace. Overall growth is projected to remain flat in 2013 at 3½ percent and moderate slightly to around 3¼ percent in 2014. Inflation pressures remain contained, with both headline and underlying inflation (CPI excluding energy) at the middle of the target range, and unemployment is low. House prices, however, continue to increase despite policy measures aimed at curbing such rise. The external position is strong. The shekel has been under intermittent appreciation pressure—owing to an easing of geopolitical risks, prospects of a natural resources bonanza, and large FDI inflows—contributing to weakening the competitiveness of the tradable sector. Abstracting from the impact of new large-scale gas production, growth in 2013 is projected to be only 2½ percent.
House prices, however, continue to increase despite policy measures aimed at curbing such rise. The external position is strong. The shekel has been under intermittent appreciation pressure-owing to an easing of geopolitical risks, prospects of a natural resources bonanza, and large FDI inflows-contributing to weakening the competitiveness of the tradable sector.
2. Risks to the economic outlook are tilted to the downside. Externally, the main risks pertain to a prolonged period of sluggish growth in Europe and the United States and growth disappointments in emerging economies. Domestic risks include a further weakening of the tradable sector, a correction in the housing market, and the reemergence of regional geopolitical tensions, which would bear upon sentiment. Risks to the upside could arise from faster-than-expected recovery in Israel’s major trading partners and growth spillovers from the emerging natural gas sector.
Source: IMF
Foreign institutions' QR149bn net buying supports bullish rally
December 14, 2013--Foreign institutions' QR149bn net buying supported the bullish rally on the Qatar Exchange during the week.
Industrials, real estate and banking stocks were seen to appreciate more than 1% each as the QE 20-stock Qatar Index (based on price data) rose about 1% in the week that witnessed Dubai surge 4.8%, Saudi Arabia (1.75%), Abu Dhabi (1.56%) and Bahrain (0.77%).
Source: Zawya
Egypt bourse records highest level in 35 months, main index up 1.8 pct
December 13, 2013--The Egyptian Exchange (EGX) recorded its highest level in 35 months on Thursday amid intensive purchases by foreign and Egyptian investors.
The Egyptian Exchange (EGX) recorded its highest level in 35 months on Thursday amid intensive purchases by foreign and Egyptian investors.
Source: sis.gov.eg
Qatar shares edge up as index stays above 10,000 mark for 24th day
December 12, 2013--The Qatar Exchange was back on the positive trajectory; mainly lifted by real estate, telecom, transport and industrials stocks.
Substantially reduced selling by local retail investors and non-Qatari individuals' increased buying helped the 20-stock Qatar Index (based on price data) gain 0.28% to 10,486.23 points. The key index has been remaining above the 10,000 mark for the 24th consecutive day. However, domestic institutions turned bearish and their foreign counterparts were inclined towards higher selling in the market, which is up 25.45% year-to-date.
Source: Zawya
UAE stock markets end the week higher
December 12, 2013--UAE's stock markets ended the week in positive territory on Thursday as Dubai's benchmark index maintained its upward surge as investors continued to bet on real estate and construction stocks.
For the week, The Dubai Financial Market General Index (DFMGI) advanced 4.71 per cent and Abu Dhabi General Index (ADX) climbed 1.56 per cent.
Source: Zawya
UAE indices close lower
December 11, 2013--Real estate, banks and services were among the stocks which gained the most in the past few sessions.
In Abu Dhabi, the benchmark stock index decreased 0.83 per cent to 3,986.11 led by energy, real estate and banks. Of the 36 stocks traded, 20 declined, 11 gained and five remained flat.
Source: Zawya
Composition of TASE Equity Indices as of December 15th, 2013
December 10, 2013--As of December 15th, 2013 the composition of the equity indices will be updated.
Source: TASE
Israel's economy growing strongly but further efforts needed to improve living standards, says OECD
December 8, 2013--Israel's economy is in good shape, but further efforts are needed to fight poverty and close the gap in living standards with other leading nations, according to the OECD's latest Economic Survey of Israel.
The Survey, presented by OECD Secretary-General Angel Gurría to Prime Minister Benyamin Netanyahu during a cabinet meeting, underscores the importance of maintaining prudent macroeconomic frameworks and building momentum behind structural reforms, particularly in education, social and competition policies. It also calls on Israel to ensure that environmental externalities are more fully incorporated into government, household and business decisions.
Local retail investors' net buying of QR66mn lend support to the QE 20-stock Qatar Index (based on price data), which was up 0.14% in the week that otherwise witnessed Abu Dhabi gain 2.33%, Dubai (2.29%) and Muscat (0.64%), while Saudi Arabia, Bahrain and Kuwait fell 0.98%, 0.91% and 0.26% respectively.
Source: Zawya
December 6, 2013--With earnings sessions round the corner, Qatar Exchange closed the week on a higher note, albeit on a slower pace.
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