Middle East ETF News Older than One Year
Qatar nominal GDP reached $172bn in 2011-2.5% of global
February 27, 2012--QNB Capital has estimated Qatar's nominal GDP reached QR628bn ($172bn) in 2011, or 2.5% of global GDP and 12.5% of GDP in the GCC, Arab News has reported.
The Gulf country’s share of global and regional GDP rose from 2% and 11.8% in 2010, respectively. This was attributed to the exceptionally fast nominal GDP growth of around 48.6% in Qatar's oil and gas sector in 2011, which has led to overall nominal growth estimated at 35.4%, said QNB Capital.
Source: AME Info
Dubai Gold & Commodities Exchange Weekly Market Commentary
February 26, 2012--Economic Data Overview
Last week was one of the best news weeks for commodities, equities, bonds and beleaguered currencies in some time. Oil rallied aggressively on a combination of continued geopolitical concerns, positive economic data, hedging pressure and speculative interest. The worries sparked by Iran's nuclear program continue to have wide reaching consequences with international condemnation coming from the US and Russia.
There also is the increased prospect of a pre-emptive strike by Israel to keep the status quo in the region, for the market to digest. All these facts also pushed gold prices higher. The US stock market closed at its highest level since June 2008, as the economy continues to improve and investors are willing to take more risk in search of both dividend yield and capital appreciation. The US bond market benefited by Fed purchases at the long end. Finally, Europe has a bailout deal with Greece and this helped most major western currencies rally against the dollar. The yen however continued to lose ground as the BOJ pursues active reflation of the Japanese economy. Another interesting week lies ahead, as a G20 response to Europe's progress on the bailout will be seen from their meeting in Mexico. This gathering should also update the market on their thinking about financing an additional IMF rescue fund. Inflation data is expected in Europe and the US next week. Another ECB tender on February 28 could see European banks awash with cash, as financial institutions are expected to ask for over €450 billion in funds. The destination for some of this money is likely to be sovereign bonds which will help keep yields low and also allow the banks to refinance their depleted balance sheets. A by-product of which will be more euro strength.
Source: Dubai Gold & Commodities Exchange (DGCX)
Saudi boosts market monitoring to boost transparency
February 23, 2012--Saudi Arabia: Saudi Arabia's Capital Market Authority (CMA) has adjusted stock ownership guidelines in a bid to boost transparency, as the Middle East's biggest bourse takes steps toward opening up to direct foreign investment, Reuters has reported.
Under the new guidelines, the actual owner of the stock will now be identified, which will help the regulator impose ownership limits when the market eventually opens up, using the Qualified Foreign Institutional Investor (QFII) route.
Source: AME Info
Qatar Exchange regains further ground as bellwether Industries Qatar approaches key resistance level
February 23, 2012--The QE 20 Index added half a percent to close at 8,732.75 points.
The Doha-based market measure is the only gauge in the GCC which has not reached break-even year-to-date, but has gained 2.2% during the least week. Market bellwether Industried Qatar advanced 1.40%. The share has bottomed out in a w-formation end of 2011 is constantly approaching a key resistance level at QR150 it failed to crack three times last year.
Source: AME Info
Etisalat closes even, starts legal procedures in India
February 23, 2012--The Abu Dhabi market gauge ADXGI advanced for the sixth consecutive day, closing 0.20% higher at 2,539.20 points. At the ADX, some 160.6m shares were traded, valued at Dhs191.3m. Dana Gas fell two percent to Dhs0.48. Market bellwether Etisalat closed even at Dhs9.56.
Earlier in the day, Etisalat announced it has filed "proceedings of civil action in the Bombay High Court against Shahid Balwa, Vinod Goenka and Majestic Infracon Private Limited, the former promoters of Swan Telecom, for fraud and misrepresentation." Etisalat had to shut down its operations in India, running under the name Etisalat DB, for allegedly violating rules related to the sale of wireless, according to The National.
Source: AME Info
DP World consolidates above $11 at NASDAQ Dubai
February 23, 2012--The FTSE NASDAQ Dubai UAE 20 index closed at 1646.44, up 0.60%, from the previous close. DP World declined 0.88% to $11.30.
Jewelry trader Damas finished unchanged at $0.37. Some 132,000 shares were traded, value at $290,000.
Source: AME Info
Dubai market ends week on a high note
February 23, 2012--The DFM General Index rose by 1.50% Thursday, closing at 1,632.27 points.
Arabtec Construction surged 3.74% to hit Dhs3.05. With today's trading action, the DFM increased its year-to-date gain to 20.61%. Emaar Properties slipped 0.33% to Dhs3.04. According to Gary Dugan, CIO Private Banking Emirates NBD, "the days of investors hiding in 100% cash or near cash are behind us. Central banks have collectively provided such significant amounts of stimulus to the global economy that some risk taking by investors bored with near zero interest rates was inevitable. The cash continues to seek higher yield in bonds and equities driving prices higher." Some 564.4m shares were traded, valued at Dhs440.34m.
Source: AME Info
DP World consolidates above $11 at NASDAQ Dubai
February 23, 2012--The FTSE NASDAQ Dubai UAE 20 index closed at 1646.44, up 0.60%, from the previous close. DP World declined 0.88% to $11.30.
Jewelry trader Damas finished unchanged at $0.37. Some 132,000 shares were traded, value at $290,000.
Source: AME Info
Etisalat closes even, starts legal procedures in India
February 23, 2012, 13 hours ago
The Abu Dhabi market gauge ADXGI advanced for the sixth consecutive day, closing 0.20% higher at 2,539.20 points.
At the ADX, some 160.6m shares were traded, valued at Dhs191.3m. Dana Gas fell two percent to Dhs0.48. Market bellwether Etisalat closed even at Dhs9.56. Earlier in the day, Etisalat announced it has filed "proceedings of civil action in the Bombay High Court against Shahid Balwa, Vinod Goenka and Majestic Infracon Private Limited, the former promoters of Swan Telecom, for fraud and misrepresentation." Etisalat had to shut down its operations in India, running under the name Etisalat DB, for allegedly violating rules related to the sale of wireless, according to The National.
Source: AME Info
Qatar Exchange regains further ground as bellwether Industries Qatar approaches key resistance level
February 23, 2012--The QE 20 Index added half a percent to close at 8,732.75 points.
The Doha-based market measure is the only gauge in the GCC which has not reached break-even year-to-date, but has gained 2.2% during the least week. Market bellwether Industried Qatar advanced 1.40%. The share has bottomed out in a w-formation end of 2011 is constantly approaching a key resistance level at QR150 it failed to crack three times last year.
Source: AME Info
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
