Middle East ETF News Older than One Year
Dubai bourse DFM closes the week before Eid holidays positively
November 03, 2011--Thanks to a last-minute upswing, the DFM General Index closed half a per cent higher at 1,384.28 points.
Deyaar Development reaped benefits from its comeback to profits, it reported yesterday and advanced 6.84% to reach Dhs0.25. District cooling specialist Tabreed was not traded, earlier in the day, Tabreed reported that its nine month net profit increased 12% year-to-date to Dhs129.8m. Tabreed's third quarter net profit rose to Dhs53.5m from Dhs36.3m. Trading volumes stood at Dhs52m valued at Dhs47m. The DFM will be closed from Sunday, November 6th, marking the Islamic Feast of Sacrifice Eid ul-Adha, and will resume trading on Thursday, November 9th.
Source: AME Info
OEIH posts OR2.9m loss
November 03, 2011--Oman and Emirates Investment Holding (OEIH) has said its profitability for the nine-month period ended September 30, 2011 has been hit by the weak performance of equity markets this year, Muscat Daily has reported.
The company made a net loss of OR2.93m for the nine-month period against a net profit of OR555,000 in the corresponding period of last year. “The adverse situation in the equity market had a negative impact on investment valuations and consequently on the profitability of the company,” said Awad Mohammed Faraj Bamkhalef, CEO of OEHI.
Source: AME Info
UAE issues draft rules on short selling
SCA is posting new draft regulation for consultation
November 3, 2011--SCA is pleased to announce to its stakeholder and the public, the posting of draft regulations on the market making, security lending and borrowing, short selling and liquidity providers.
Feedback and comments can be submitted during the period 03/11/2011 to 17/11/2011.
1. Market Making
2. Security Lending and Borrowing
3. Short Selling
4. Liquidity Providers
Source: Securities and Commodities Authority (SCA)
Samba Financial Group hits 18-week high
November 02, 2011--The Saudi Tadawul bourse rebounded Wednesday by one per cent and closed at 6,215.67 points. Higher oil prices (up one per cent at $93 (US crude)) supported the positive sentiment. Sabic
advanced 1.32%, closing at SR96.00. Shares of Samba Financial Group soared 3.81% to reach SR49.00, the highest value sind July 18. Losses
Source: AME Info
Al Khaliji Commercial Bank installs FIFA 2022 related contract division
November 02, 2011-The QE Index closed 0.59% higher at 8,579.97 points Wednesday. Shares of Al Khaliji Commercial Bank advanced 0.29% to reach QR17.07.
Earlier in the day, the bank announced it has established a specialized contracting finance division for contracts related to the FIFA Football World Cup in 2022 in Qatar. "Qatar is expected to spend a staggering $150bn on hosting FIFA world cup 2022," Al Khaliji Commercial Bank said in a statement. "The major projects include development of Metro Rail, state of art stadiums, hotels as well as other infrastructure projects. Major contractors and sub contractors involved in these projects will need to resort to bank finance. Al Khaliji has introduced a Specialized Contracting Finance Division to cater the requirements seamlessly and efficiently for Contractors and subcontractors awarded with subject projects” said Robin McCall, Group Chief Executive Officer, Al Khaliji.
Source: AME Info
National Bank of Kuwait hits five-month high
November 02, 2011--The Kuwait Stock Exchange closed even at 5,916.8 points.
The country's largest lender National Bank of Kuwait or NBK gained 1.75% to reach KD1.160. Al-Safat Investment posted the largest decline (off 5.9% at KD0.079).
Source: AME Info
Qatar not planning to raise T-bill issue
November 02, 2011--Qatar's central bank governor Sheikh Abdullah bin Saud Al-Thani said the country has no plans to raise the monthly issuance of treasury bills from a current QR2bn ($550m),
Reuters has reported. The Gulf country's central bank has been issuing treasury bills with various maturities ranging from three to nine months to drain excess liquidity from its banking sector.
Source: AME Info
DGCX trades 441, 975 contracts in October
Monthly volumes increase 110% year-on-year to 441, 975 contracts, valued at US
$18.36 billion
Year-to-date (YTD) volumes rise 104% to reach 3,205,464 contracts
November 2, 2011--October volumes on the Dubai Gold & Commodities Exchange
(DGCX) grew 110% year-on-year to reach a total of 441, 975 contracts, valued at US $18.36 billion.
The month of October saw the Exchange surpassing the three million contracts mark, the first time it has crossed this milestone in its history. Year-to-date (YTD) volumes traded at the end of October were 3,205,464 contracts, a 104% increase from last year. Average daily volume in October rose 110% to reach 21,046 contracts valued at US $ 903 million.
Source: DGCX
UAE says $80-$100 oil price is 'reasonable'
November 01, 2011--United Arab Emirates: The UAE oil minister, Mohammed bin Dhaen Al-Hamli has said a reasonable price for crude oil is between $80 and $100 a barrel, Reuters has reported.
A high oil price would lead to more investment in alternative energy and also more investment in crude production capacity, which would mean less volatile prices, he said. "The higher the capacity, the less fluctuation in prices, except that capacity that is not in used is very expensive," Al-Hamli said.
Source: AME Info
Greek shockwaves felt at Saudi Stock Exchange
November 01, 2011--The Saudi Stock Market Tadawul posted the second largest loss in the GCC (after the DFM in Dubai) on Tuesday, closing down 1.11% at 6,155.10 points. Market bellwether Sabic fell the third day straight, ending off 1.81% at SR94.75. Shares of Abdullah A. M. Al-Khodari Sons Company dived 3.69% to SR52.25.
Earlier in the day the firm announced it received an award letter from the Ministry of Municipal & Rural Affairs for cleaning of cities and villages at Jazan for a period of 1095 days at SR70m. "A further announcement will be made upon contract signing including the expected start of the financial impact," the statement says.
Source: AME Info
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