Middle East ETF News Older than One Year
Saudi Stock Exchange: Sabic shares stabilise
September 20, 2011--The Saudi benchmark index Tadawul added 0.42%, finishing at 6,144.27 points. Bellwether Sabic closed half a percent higher at SR93.
Shares of Abdullah A. M. Al-Khodari Sons Co. dipped 0.39% to SR64.25. Earlier in the day the firm announced the completion of the signing of a contract with the Ministry of Interior (Border Guard) for the construction of the second phase of Border Guard Airport in Umm Almelh (South of the Kingdom Empty Quarter), valued at SR120.6m.
Source: AME Info
Tadawul bourse loses the second day straight
September 19, 2011--The Tadawul market index Tasi ended down 0.42% to close at 6,118.34 points, despite a rather balanced advance-decline ratio of 50 to 78.
Sabic declined 0.80% to SR92.50. Insurers performed once again well, with Solidarity Saudi Takaful Company gaining 2.58% to reach SR17.90.
Source: AME Info
Kuwaiti stocks lose across all sectors
September 19, 2011--The KSE Market Index declined 0.44% to close at 5,976.7 points.
The banking and investor index both lost 0.65%. Gulf Bank of Kuwait dived almost two percent, finishing at KD0.510. Kuwait Hotels Company gained the most (up 9.4% at KD0.290).
Source: AME Info
Real estate blue chips weigh on Abu Dhabi market
September 19, 2011--The ADX General Index fell by a quarter percent, closing at 2,564.02 points. Aldar Properties (off 1.65% at Dhs1.19),
Sorouh Real Estate (down 1.72% at Dhs1.13) and Eshraq Properties (eight percent lower at Dhs0.47) weighed on the index in particular. Around 29.2m shares were traded, valued at Dhs44.2m. A record number of 12 shares closed flat, while six stock gained and 15 securities lost.
Source: AME Info
Real estate blue chips weigh on Abu Dhabi market
September 19, 2011--The ADX General Index fell by a quarter percent, closing at 2,564.02 points. Aldar Properties (off 1.65% at Dhs1.19),
Sorouh Real Estate (down 1.72% at Dhs1.13) and Eshraq Properties (eight percent lower at Dhs0.47) weighed on the index in particular. Around 29.2m shares were traded, valued at Dhs44.2m. A record number of 12 shares closed flat, while six stock gained and 15 securities lost.
Source: AME Info
Shuaa Capital gains, announces Bloomberg co-operation
September 19, 2011--The DFM General Index declined 0.61% to close at 1,462.54 points. Emaar dipped 0.71% to Dhs2.79.
Investment bank Shuaa Capital gained 0.95% to reach Dhs0.848. Earlier in the day Shuaa Bloomberg Tradebook, Bloomberg's agency broker, today announced the launch of a common direct market access (DMA) trading platform. "The Bloomberg Tradebook-SHUAA DMA platform gives global traders direct access to UAE markets via a direct-to-exchange connection through the Bloomberg Professional service," Shuaa says in a statement. DFM shares lost 1.75% finishing at Dhs1.12. During the last 12 months DFM shares have lost more than a third of their value as trading volumes have been on the decline since the outbreak of the 'Arab Spring'. On Monday, only 37.9m shares were traded, valued at Dhs45.4m.
Source: AME Info
DP World plummets almost four percent
September 18, 2011--The FTSE NASDAQ Dubai UAE 20 Index closed at 1472.910 today, down -14.690, or -0.99%, from the previous close.
As worries over the global economy continue to dominate financial news headlines, shares of global maritime port operator DP World dived 2.90% to end at $9.61 amid very low trading volumes. Interior designer Depa Limited finished flat $0.49. Less than 440,000 shares changed hands at the NASDAQ Dubai on Sunday.
Source: AME Info
While temperatures dip, Dubai Refresments surge
September 18, 2011, 7:23:51 AM
The Dubai Financial Market (DFM) added a quarter percent to reach 1,471.58 points.
Shares of Dubai Refreshments, the sheikhdom's juices and soft drinks producer and importer, jumped 15%, closing at Dhs11.50. Emaar Properties dipped 0.35% to Dhs2.81. Around 65m shares were traded, valued at Dhs61.5m.
Source: AME Info
Bahrain 2011-Oxford Business Group Report
September 18, 2011--Despite 2011’s economic and political challenges, Bahrain has stayed on course with its overarching goal of economic diversification. Although some sectors, such as construction, have seen temporary declines in response to global economic forces, these slower growth rates have been offset by growth in other sectors. Trade has continued to expand, with imports increasing 19.8% to $13.3bn and exports growing 18.7% to $18.4bn.
One of 2011’s top performers was the financial sector, which contributed more than 25% to the Kingdom’s economic output between 2000 and 2010. Manufacturing has expanded as well, with food and beverage, electrical machinery, and other segments on the up. Buoying this economic expansion are government expenditures, which have increased 44% in a revised two-year budget for 2011-12. To make sure Bahrainis themselves are part of economic expansion, Tamkeen, a semi-autonomous governmental authority, has continued efforts to increase Bahrainis’ presence in the work force. These efforts have included education and assistance with mid-career shifts. Training programmes are also being made to further educate, fund and support small and medium-sized enterprise owners. This chapter includes interviews with Sheikh Mohammed bin Essa Al Khalifa, Chief Executive, Economic Development Board and Chairman, Tamkeen; Rasheed Mohammed Al Maraj, Governor, Central Bank of Bahrain; Jameel Humaidan, Minister of Labour; Talal Al Zain, CEO, Bahrain Mumtalakat Holding Company; and Craig Emerson, Australian Minister of Trade.
Source: Oxford Business Group
Yemen's economy could shrink this year - official
September 18, 2011--Yemen's central bank governor said the country's political crisis may cause the Arab state's economy to shrink this year, Reuters has reported.
"It (growth) could be negative if we continue to have this political crisis," Central Bank Governor Mohamed Bin Humam told the news service on the sidelines of a meeting of Arab central bank governors in Doha.
Source: AME Info
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