Middle East ETF News Older than One Year
Gulf Warehousing get shareholders' nod for distributing bonus shares
March 6, 2013--The QE 20 Index added 0.18% to close at 8,495. 25 points Wednesday.
Qatar National Bank, the GCC's biggest lender in relation to assets under management, gained 1.54%, finishing at QR132.10. Gulf Warehousing Co. finished even at QR44.00. On Tuesday, the logisics firm's shareholders approved yesterday the distribution of 20% bonus shares.
Source: AME Info
Saudi bourse stabilises amid positive market breadth
March 5, 2013--The Riyadh-based benchmark index Tasi ended even at 6,953.21 points Tuesday.
Sabic advanced 0.27% to reach SR92.25. Wafa Insurance lost the most (off 3.08% at SR70.75).
Source: AME Info
Almarai to launch second Saudi riyal-sukuk
March 4, 2013--The Saudi Stock Exchange's benchmark index Tasi closed 0.45% lower at 6,956.53 points.
While market bellwether SABIC added 0.27% to reach SR92. Dairy food giant Almarai ended unchanged at SR66.00. Earlier in the day, Almarai said it plans to issue its second tranche of an SR-denominated Islamic bond (sukuk) under its sukuk programme, totaling SR2.3bn ($613m), in line with the approval of the extraordinary general assembly held on Nov. 19 2011. This second tranche of Sukuk will be a private offering to sophisticated investors resident in the Kingdom of Saudi Arabia. Subject to market conditions, Almarai will hold several meeting during the next two weeks, with interested investors. "Shareholders will be updated with any progress in this regard," said Almarai which has mandated NCB Capital to act as sole dealer for this second tranche of sukuk.
Source: AME Info
Bahrain's Investcorp seals $155m private equity deal
March 4, 2013--The Bahrain All-Share Index closed off 0.34% at 1,093.73.
Bahrain Islamic Bank lost the most (down 5.19% at BD0.073). Its rival Ithmaar Bank gained the most (up 8.33%), Private equity giant Investcorp (not traded) said it completed the sale of Europe's industrial supplier IPH Group to PAI Partners, Paris-based PE firm. The deal generated in excess of EUR120m ($155.85m).
Source: AME Info
Banks weigh on Bahrain bourse
February 28, 2013--The Bahrain All-Share Index declined 0.67% to 1,089.94 points Thursday.
Nass Corp. gained the most (up 1.83%). Khaleeji Commercial Bank dived 7.50% to BD0.037. Islamic banks Salam Bank Bahrain (off 4.90%) and Ithmaar Bank (2.94% lower) also dragged the Manama-based gauge down.
Source: AME Info
Doha bourse ends 5-day losing streak
February 28, 2013--The QE 20 Index ended up 0.44% at 8,528.58 points.
Qatar National Bank advanced 0.15% to close at QR129. Doha Bank surged 1.82%, finishing at QR44.80. Qatar Insurance fell 2.42% to QR52.50. Qatar National Cement Co. slipped 0.29% to QR104. Earlier in the day, National Cement said Qatar National Cement said the financials for 2012 revealed a net profit of QR425.3m in 2012 versus QR456m in 2011. The company’s earnings per share (EPS) in 2012 amounted to QR8.66 versus QR9.29 in 2011. "The Board of Directors recommended a dividend payout per share of QR6, representing 60% of nominal value," said the firm.
Source: AME Info
Dana Gas shares consolidate above Dhs0.50
February 28, 2013--The ADX General Index declined 0.38% to close at 3.044. 89 points Thursday.
Real estate shares in particular weighed on the gauge, with Aldar Properties (off 1.91%), Sorouh Real Estate (down 1.55%) and Eshraq Properties (8.82% lower) on the retrea, while RAK Properties outperformed (gaining 1.80%). Sharjah-based Dana Gas jumped 2%, finishing at Dhs0.51.
Source: AME Info
Arabtec plummets over 9 pct, names new CEO
February 28, 2013--The DFM General Index closed Thursday trading 0.61% lower at 1,927.10 points.
The UAE's first construction firm Arabtec was in the focus, ending off 9.80% at Dhs2.67. Earlier in the day, Arabtec said it has appointed Hasan Ismaik to replace Riad Kamal as chief executive officer, and said it plans to raise Dhs6.4bn ($1.74bn) through a rights issue and a convertible bond, Bloomberg has reported. Kamal resigned as CEO, the company said, without providing details. Arabtec plans to issue 3.18 billion shares at Dhs1.5 each, the company. It will sell $450m in convertible bonds and pay no dividend for 2012. The funds will be used to fund internal growth, acquisitions and joint ventures, it said. Gains in market heavyweights Emaar (up 1.34%) failed to lift the sentiment at the DFM, where 10 shares advanced, while 20 declined.
Source: AME Info
Banks weigh on Bahrain bourse
February 28, 2013--The Bahrain All-Share Index declined 0.67% to 1,089.94 points Thursday.
Nass Corp. gained the most (up 1.83%). Khaleeji Commercial Bank dived 7.50% to BD0.037. Islamic banks Salam Bank Bahrain (off 4.90%) and Ithmaar Bank (2.94% lower) also dragged the Manama-based gauge down. [AMEInfo.com]
Source: AME Info
Zain KSA extends $2.4bn Murabaha facility for the umpteenth time
February 27, 2013--The Saudi Stock Exchange finished Wednesday trading 0.15% higher at 6,998.33 points.
Mobile Telecommunications Company Saudi Arabia, known as Zain KSA, dived 2.89% to SR8.40. Earlier in the day Zain KSA said the syndicate of financiers of the Murabaha Facility of approximately SR9bn ($2.4bn) has extended the maturity date of its syndicated facility to 27 March 2013, from Feb. 27. "The company is currently negotiating a new long-term financing arrangement that is intended to replace the Murabaha Facility and intends to use the extension period to conclude negotiations and finalise such long-term financing arrangement. Subject to the further consent of the Financiers, the maturity date may be further extended," said Zain KSA in a statement to its shareholders. Further announcements will be made in due course, added the telecom firm.
Source: AME Info
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