Middle East ETF News Older than One Year
Record gaining streak halted in Manama
May 16, 2013--The Bahrain All-Share Index slipped 0.05% to 1,147.85 in a dull trading session on Thursday.
The market measure advanced 8 consecutive sessions from May 2 to May 14. Al Salam Bank fell 2.38% to BD0.082. Islamic bank Ithmaar was the most liquid share, finishing flat at $0.25. Year-to-date, the Bahrain gauge has gained 7.72%.
Source: AME Info
Aldar Properties finishes week at 3-year high
May 16, 2013--The Abu Dhabi market measure ADX General Index consolidated at a 4-year high, closing up 0.10% at 3,514.17 Thursday.
The biggest developer in the sheikhdom, Aldar Properties, surged 4.30% to hit Dhs1.70, the higest level since Feb. 2010. Dr. Giyas Gokkent, the chief economist and head of research at National Bank of Abu Dhabi (off 0.80% at Dhs12.40) said earlier today inflation in the housing sector in Abu Dhabi was down 0.6% year-on-year in April, with a relative contribution of minus 0.2% to CPI (up 0.6% at 1.1% in April).
Source: AME Info
Dubai bourse near 2,300, GGICO rises 75% in 2 weeks
May 16, 2013--A volatile but resilient Dubai market opened lower Thursday but eventually closed 0.41% higher at 2,296 points.
For the 3rd day straight, Gulf Genera Investment Co, better known as GGICI gained the most, ending up 11.11% at Dhs0.56, the highest leevl since June 2010. Dubai Islamic Bank (DIB) added 1.28% to reach Dhs3.17. Investment reating agency Moody's ts affirmed DIB's Long Term Issuer ratings at Baa1 with a 'stable' outlook. Moody’s also affirmed the LTI ratings of Tamweel (1.54% higher at Dhs1.32) at Baa3 and with the recent move by DIB to take over the company, Tamweel’s outlook on ratings has been upgraded to 'positive.' DIB owns 86.5% in Tamweel. Commercial Bank of Dubai posted the largest loss, finishing off 2.68% at Dhs4.00.
Source: AME Info
Record gaining streak halted in Manama
May 16, 2013--The Bahrain All-Share Index slipped 0.05% to 1,147.85 in a dull trading session on Thursday.
The market measure advanced 8 consecutive sessions from May 2 to May 14. Al Salam Bank fell 2.38% to BD0.082. Islamic bank Ithmaar was the most liquid share, finishing flat at $0.25. Year-to-date, the Bahrain gauge has gained 7.72%.
Source: AME Info
Oversold Saudi bourse bounces back on insurance shares
May 15, 2013--The Tadawul All-Share Index ended a 3-added 0.11% to reach 7,147.42 points Thursday.
Wafa Insurance gained the most (up 6.78%) while Allianz Saudi Fransi posted the third biggest advance (5.67% higher). The insurance segment posted heavy losses in the last 2 days after since the Saudi Arabian Capital Market Authority said it intends to curb speculative trading practices by imposing tighter regulations. Sabic ended unchanged at SR91.25. Market
Source: AME Info
Kuwait Stock Exchange loses terrain
May 15, 2013--The KSE Market Index fell by 0.63% to 7,813.05 points.
Kuwait Syrian Holding Co. lost the most, ending down 9% at KD0.050. Kuwait Finance House, better known as KFH, gained 0.63% to hit KD0.800. On Tuesday, EmeaFinance magazine awarded Kuwait Finance House (KFH), the biggest and most trusted Islamic bank in the world, the Best Islamic Bank in Kuwait and Middle East award, in recognition of
Source: AME Info
Depa dives as NASDAQ Dubai resumes trading
May 15, 2013--The FTSE NASDAQ Dubai UAE 20 Index closed 1.27% higher at 2581.20 points Wednesday.
Interior design firm Dapa Limited lost 4.76% to hit $0.40 after trading in the shares was resumed by the bourse's regulator DFSA. On Tuesday, the DFSA suspended Depa shares from trading as the firm's annual general meeting was held. Arabtec Construction which owns a 24% stake in Depa aims to have a bigger representation on Depa's board, The National reported. The report added that Arabtec's move could be interpreted that it aims to bid for a complete takeover of Depa, citing analysts.
Source: AME Info
Dubai market gains the fourth day straight
May 13, 2013--Despite mixed input from East Asian exchanges, the DFM General Index gained 0.50% Monday, closing at 2,195 points.
Dubai Islamic Bank was the most liquid share, closing up 2.44% at Dhs2.94, while Commercial Bank of Dubai advanced the most (up 14.29% at Dhs4.00). Deyaar Development dived 1% to Dhs0.407. Earlier in the day, the Islamic real estate firm announced an exclusive three day sales event for showcasing its diverse property portfolio. The sales event will be held at the Dusit Thani Hotel from May 14 - 16 May and will allow potential customers "to avail of special limited time offers on commercial and residential real estate covering prime areas of Dubai including Business Bay, Dubai Silicon Oasis (DSO) and International Media Production Zone (IMPZ)," said Deyaar. Trading volumes fell by 50% compared to Sunday as 323m shares were traded, valued at Dhs447m.
Source: AME Info
IIF Sees Robust Growth and Progress on Diversification in the GCC
Banking system is sound and has fully recovered from the spillovers of the global financial crisis
Gross foreign assets to exceed $2.5 trillion by end-2013, reinforcing economic resilience if oil prices drop
Sound macroeconomic policy and structural reforms must be sustained for continued strong economic performance
May 15, 2013--The Gulf Cooperation Council (GCC) countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE, registered an average growth of 5.8% in 2012.
Growth is projected to moderate to 3.8% in 2013, due to flattening crude oil production. Growth of nonhydrocarbon sector, more representative of economic activity, is forecast to stay robust at around 5% this year, said the Institute of International Finance (IIF). The IIF is the leading global association of financial services firms with more than 470 member institutions, including more than 100 members in the Middle East and North Africa region.
Source: DIFC
Saudi Stock Exchange knows no halt
May 14, 2013--The Tadawul All-Share Index fell to a 2-week low, ending down 0.27% at 7,139.3 points amid a bearish market breadth.
Saudi Hotels & Resort Areas Co. finished off 1% at SR29.80. The hospitality firm announced that it has completed Tuesday the purchase of land which located in Riyadh (Tuwaiq) with total area of 5345 square meters at cost of SR6.738m which is internally financed. The company is planning to construct staff housing building for its staff in Riyadh. Only 26 shares advance din Riyadh, while a whopping 122 declined in value. Market bellwether Sabic added 0.27% to reach SR91.25.
Source: AME Info
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
