Middle East ETF News Older than One Year
Saudi Cable soars on new orders worth $1bn
November 29, 2011--The Tadawul bourse slipped slightly, closing off 0.11% at 6,111.86 points. Sabic ended 0.27% lower at SR92.75. Saudi Cable Company advanced 5.35% to reach SR12.80.
Earlier in the day Saudi Cable announced it has secured new orders totalling $1bn. The statement says: "Saudi has won a Purchase Order from Dosan Company of Korea on amounting to SR63m and, has also won another purchase order from Hyundai amounting to SR 56 million (...) during this month a number of Purchase Orders amounting to about SR 1.1bn, with better rates than those prevailing in the earlier months; these include orders from Russia, Italy and England." The financial effect will be seen during the first quarter of 2012, Saudi Cable says.
Source: AME Info
DP World jumps 2.67% to reach $10
November 28, 2011--At the NASDAQ Dubai, the FTSE NASDAQ Dubai UAE 20 Index rose for the first time since November 13 and closed two per cent higher at 1399.30.
Global maritime port operator and market bellwether DP World ended up 2.67% at $10.00 amid rising trading volumes. Damas surged 4.47%, finishing at $0.15. Yesterday, Damas, the Middle East’s leading international jewellery and watch retailer, reported a net profit of Dhs26.5m for the period, compared to a net profit of Dhs4.2m for the same period last year. Depa Limited fell 0.44% to $0.448.
Source: AME Info
Banks, real estate firms drive Abu Dhabi bourse recovery
November 28, 2011--The ADX General Index advanced by 0.30%, closing at 2,423.25 points. The emirate's largest lender National Bank of Abu Dhabi,
known as NBAD (up two per cent at Dhs10.15), Abu Dhabi Islamic Bank or ADIB (gaining 2.24% at Dhs3.20) and First Gulf Bank (FGB, 1.40% higher at Dhs14.50) reflected new hopes in the financial sector tht France and Germany will enforce higher budget disciplinary measure within the crises-ridden Eurozone. Real estate firms Aldar and Sorouh added one per cent and 1.10%, respectively. Some 62.5m shares were traded, valued at Dhs64.5m.
Source: AME Info
Kuwait Stock Exchange closes unchanged
November 28, 2011--On its first trading day after the Islamic New Year's holiday, the KSE Market Index ended even at 5,782.7 points.
The largest banks National Bank of Kuwait (NBK) and Kuwait Finance House (KFH) slipped by 1.75% and 2.2%, respectively. Kuwait International Bank outperformed the benchmark by adding 1.96% to reach KD0.260.
Source: AME Info
Al Meera Consumer Goods surge on store acquisition
November 28, 2011--The Qatar Exchange or QE Index closed 0.30% higher at 8,583.25 points. Al Meera Consumer Goods Company shares jumped 7.69% to reach QR161.
Industries Qatar gained one per cent to reach QR132.00. Vodafone Qatar dipped by half a per cent to QR7.56. Earlier in the day Al Meera said in an e-mailed statement that the acquisition of the entire share capital of Qatar Markets Company, holding the trademark of “Giant Stores”, and Al Omara Bakeries Company has been completed.
Source: AME Info
Saudi Arabian Tadawul bourse gains over one per cent
November 28, 2011--The Tasi benchmark gained 1.17% to reach 6,118.64 points amid global speculations for tighter budget constraints in the 17 member states comprising Eurozone.
Sabic jumped 3.62%, closing at SR93.00. Only three sector indexes declined: hotel and tourism, media and publishing and multi-investment.
Source: AME Info
Tunisia Stock Exchange positive on economic prospects
November 27, 2011--Share prices on the Tunisian Stock Exchange (Bourse de Tunis – www.bvmt.com.tn) have been moving ahead all November, starting with a positive reaction to the meeting between Rachid Ghannouchi, leader of the Islamist Ennahda party and stock market executives only days after the election and moving forward as the politics progressed well.
Even before the election results were finalized from the 23 October election that swept Ennahda to power, Ghannouchi was meeting the bourse on 26 Oct to send the message that the government would be “business friendly”. It is the first Islamist party to win power since Hamas’ 2006 victory in Palestine.
Source: African Capital Markets
Dubai Gold & Commodities Exchange Weekly Market Commentary-November 27, 2011 Monday data is focused on housing, although also includes the Dallas Fed Manufacturing Outlook Survey.
Tuesday includes the Conference Board measure of consumer confidence, which is forecast to rebound to a reading of 44.4 in November after plunging in October to a reading of 39.8. The Michigan Sentiment index rose solidly in November.
Source: Dubai Gold & Commodities Exchange (DGCX)
Yemen's Saleh inks agreement to cede power
was brokered by the six-nation GCC, an initiative aimed at ending months of bloodshed, Bloomberg has reported.
Source: AME Info
Yemen's Saleh inks agreement to cede power
According to the terms of the accord, Saleh will transfer power to his deputy, Abdurabuh Mansur Hadi, to be followed 90 days later by a presidential election, UN's secretary general's special adviser on Yemen, Jamal Benomar, told reporters in the Yemeni capital, Sana'a. [AMEInfo.com]
Source: AME Info
November 27, 2011--Economic Data Overview
November 24, 2011--Yemeni President Ali Abdullah Saleh has signed a power-transfer agreement with his opponents that
November 24, 2011--Yemen: Yemeni President Ali Abdullah Saleh has signed a power-transfer agreement with his opponents that was brokered by the six-nation GCC, an initiative aimed at ending months of bloodshed, Bloomberg has reported.
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