Middle East ETF News Older than One Year
UAE markets trade in opposite directions for a second straight day
October 22, 2013--The UAE stock markets traded in opposite directions on Monday. While the Dubai market index ended fractionally lower on profit-taking, the Abu Dhabi market gauge gained 1.1 per cent as investors viewed
some of the listed stocks as oversold and bought their shares at attractive valuations.
Source: Zawya
High-value MidEast mergers, acquisitions due by year-end
October 22, 2013--Several high-value mergers or acquisitions are expected to take place in the Middle East and North Africa before the end of the year, ending a dismal 12 months of deal making in the region, according to an international report.
Deal volumes have fallen each of the past four quarters, with only one notable merger during Q3 2013.
Source: Arabian Business.com
Dubai's stock market hits new five-year high
October 22, 2013--Dubai's bourse climbed to a new five-year high on Tuesday but profit-taking pressure was increasingly seen at the highs, while other Gulf markets were mixed.
Shares in Dubai telecommunications operator Du gained 2.4 percent, having risen as much as 5 percent earlier in the day, but trading volume in the stock was thin. Another relatively illiquid stock, Mashreq, surged 7.5 percent.
Source: Arabian Business.com
Egypt: EGX Gains EGP 3.3 Billion
October 21, 2013--Indices of the Egyptian Exchange (EGX) closed Sunday's session collectively up, backed by wide purchases by investors.
The market capital gained about EGP 3.3 billion.
The EGX 30 benchmark index went up by 1.04 per cent to close at 6,049.09 points.
Source: AllAfrica.com
DFM index surges 2.79% on global cues
October 21, 2013--The Dubai Financial Market (DFM), re-opening after the Eid holidays, rallied on Sunday with its benchmark index closing at its highest level since October 2 after the US staved off a potential default.
Last week, the US Senate passed a bill that ended the Washington showdown over the country's debt limit and reopened the federal government.
Source: Zawya.com
DGCX volumes grow 69%
October 14, 2013--Year-to-date volumes on the Dubai Gold and Commodities Exchange (DGCX) registered a growth of 69 per cent over last year, with a total of 11,357,329 contracts traded until the end of the third quarter of 2013.
The growth was supported by a 2 per cent year-on-year rise in monthly volumes in September, which saw 988,269 contracts worth $28 billion being traded.
Source: Zawya
Qatar National Bank profit jumps 14.1%
October 13, 2013--Qatar National Bank ( QNB ) Group reported a 7.1 billion Qatari riyal (Dh7.16 billion) net profit for the nine months ending September 20, 2013.
According to a QNB press release, the results represent a 14.1 per cent increasae over the same period in 2012 and include NSGB Egypt, in which QNB Group maintains a controlling 97.12 per cent stake.
Source: Zawya
UAE shares trade in opposite directions
October 10, 2013--Bulls continued to hold firm on Dubai shares on Thursday fuelled by insurance, investment and financial services sectors.
The DFM index closed 1.1.7 per cent up at 2830.92 points.
National General Insurance led the gainers list by 14.63 per cent, followed by International Financial Advisors by 13.27 per cent and GGICO by 8.42 per cent.
Source: Gulf News
Arab Countries in Transition-Economic Outlook and Key Challenges-Deauville Partnership Ministerial Meeting
October 10, 2013--Summary: In an environment of heightened socio-economic tensions, regional insecurity, and strained public finances, the Arab Countries in Transition (ACTs) 1 face the difficult task of delivering on the expectations for jobs and growth.
Despite patchy improvements in some countries, economic growth remains subdued, private investment is weak, and external and fiscal buffers are running low. Fostering social cohesion and avoiding a downward spiral of economic and political malaise calls for urgent implementation of economic reforms and coordinated support from the international community.
view the Arab Countries in Transition: Economic Outlook and Key Challenges policy paper
Source: IMF
Kuwait mkt gains 63.3 pts to end week on high note
October 10, 2013--Kuwait stocks paced up on Thursday to close the week on a high note. The index rallied 63.3 pts on back of strong buying in blue chips and select mid-caps while profit taking weighed on some of the low-priced stocks.
The market mood was positive even as the bourse closed for the weeklong Eid holidays. The KSX 15 benchmark jumped 6.36 pts 1,099.38 points taking the 2013 gains to over 99 pts while weighted index rose 3.06 points to 463.52 points. The volume turnover meanwhile rebounded after hitting a multimonth low in the previous session. 300.9 million shares changed hands--a 77.1 percent surge from the day before.
Source: Zawya
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