Middle East ETF News Older than One Year
Petrochem advances, completes polymers construction work
December 07, 2011--The Saudi Arabian Tadawul market advanced half a per cent Wednesday, closing at 6,251.92 points. Sabic surged to SR96.50 (up 0.78%). Sabic's competitor National Petrochemical Company (gaining 0.62% at SR22.15) or Petrochem announced today its joint venture project, the Saudi Polymers Company,
has finalized all construction work. "This project which is located in Jubail Industrial City, is owned 65% by Petrochem and 35% by Arabian Chevron Phillips Petrochemical Company Limited," Petrochem said in a statement. Production in the plant is expected to commence in the first quarter of 2012.
Soiurce: AME Info
Bahrain Bourse stabilises on a low level
December 07, 2011--The Bahrain All Share Index (BASI) in Manama gained 0.10% to close at . Shares of Aluminium Bahrain, known as Alba, posted the largest advance, ending 0.90% higher at BD0.555.
Bahrain Telecom or Batelco declined half a per cent to BD0.392. Year-to-date the BASI has lost a fith of its value. Bahrain still suffers from the unrest in February/March, but the government has taken steps to ease tensions and to punish those security personel which are responsible for killings of demonstrators. Only a quarter of Bahrain's hotel rooms are occupied.
Source: AME Info
Abu Dhabi National Energy gains on bond issuances
December 06, 2011--The Abu Dhabi bourse ADX declined 0.80%, closing at 2,450.96 points. Aldar Properties dipped one per cent to Dhs0.99.
Shares of Abu Dhabi National Energy or Taqa advanced by 0.83% to reach Dhs1.21. Earlier in the day Taqa said it has finalized the issuance of 10-year $750m, 4.125% senior notes and 10-year $750m senior notes with a 5.875%.
Source: AME Info
Dubai stock market forced back to 1,382 points
December 06, 2011--The DFM General Index lost 1.18% Tuesday. Emaar plummeted 3.55% to Dhs2.72. Gulf General Investment Company gained the most, ending 4.55% to reach Dhs0.23.
Construction and maintenance company Drake and Scull International (DSI) ended 1.70% lower at Dhs0.81. Earlier in the day DSI said it signed today a Dhs352m contract to execute a commercial development project in Riyadh which takes the total value of awarded projects in Saudi to Dhs2.4bn year to date.
Source: AME Info
Qatar Exchange declined 0.36% to 8,749.54 points
December 06, 2011--The Qatar Market remained in a stutter mode Tuesday, as investors booked profits in bank and industry shares.
Qatar National Bank declined 1.12% to QR150.30. Islamic Insurance bucked the trend and gained one per cent to reach QR61.20
Source: AME Info
DGCX November volumes rise 121 % year-on-year to reach 423,945 contracts
December 6, 2011--Year-to-date (YTD) volume stands at 3,629,409 contracts, a 106 % increase on 2010
Average daily volume in November stands at 19,270 contracts, a 101% rise on last year
November volumes on the Dubai Gold and Commodities Exchange (DGCX) grew 121 % year-on-year to reach 423,945 contracts, valued at US$ 17.15 billion. Year-to-date volume in 2011 also increased 106% on 2010 levels to reach 3,629,409 contracts valued at US$ 169 billion.
Source: Dubai Gold & Commodities Exchange (DGCX)
Emirates NBD soars, starts to integrate Dubai Bank with appointments
December 5, 2011--Dubai's local bourse DFM Dubai failed to sustain the solid advance it achieved Sunday. The DFM General Index declined 0.35% and stopped at 1,399.45.
Investors booked profits at Emaar (off 1.40% at Dhs2.82) and Union Properties (down two per cent at Dhs0.283). Emirates NBD or ENBD, the UAE's largest bank, gained 2.78% to reach Dhs3.33. Earlier in the day ENBD announced it has appointed Giel-Jan Van Der Tol as Group Head of Wholesale Banking. Giel-Jan previously served as the CEO of Dubai Bank, Emirates NBD’s fully owned subsidiary. ENDB took over the Islamic bank Dubai Bank from the Dubai government in mid-October. It also announced today that Mr. Douwe Oppedijk has joined as the new interim CEO of Dubai Bank. "Douwe previously served as the CEO of Commercial Bank International, and has 28 years of experience managing financial organizations," ENBD said in an e-mailed statement. Some 85m shares were traded, valued at Dhs100.4m.
Source: AME Info
Abu Dhabi market ADX declines slightly
December 05, 2011--The ADX General Index ended 0.10% lower at 2,470.52 points. Developers Aldar Properties and Sorouh Real Estate,
along with RAK Properties and Dana Gas closed unchanged. Finance House posted the largest increase closing 7.69% higher at Dhs3.50.
Source: AME Info
Kuwait market advances 0.15%
December 5, 2011--The KSE Market Index closed at 5,838.2 points today.
Kuwait's largest lender National Bank of Kuwait or NBK closed even at KD1.140. Islamic investment bank Gulf Finance House or GFH was the most liquid share, declining slightly.
Source: AME Info
Saudi Arabian Tadawul bourse remains on solid growth path
December 05, 2011--The Saudi equity benchmark index Tasi gained one per cent Monday, closing at 6,228.16 points.
Sabic shares jumped 3.22% to reach SR96.25. National Agriculture Marketing Co. or Thim'ar posted the largest decline, ending at SR20.05. Oil prices (U. S. crude) consolidated above $101 per barrel today and support the Tadawul market's year-end rally.
Source: AME Info
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