Middle East ETF News Older than One Year
Kuwait's central bank says economy faces imbalances
July 19, 2011--Kuwait: Kuwait's central bank governor, Sheikh Salem Abdul-Aziz al-Sabah has said the Gulf country is witnessing imbalances in its economy which require corrections, Kuna has reported.
Today, Such concerns should be addressed by corrections to avoid any negative implications that they might have on the future of Kuwait, he said. Last month, Kuwait's parliament approved a KD19.4bn ($70.75bn) state budget for the 2011/12 fiscal year, the government's biggest budget since at least 2003.
Source: AME Info
Petrochem dips slightly despite a shrink in half-year losses
July 19, 2011--The Saudi Tadawul bourse rebounded 0.27% to reach 6,440.65 points on Tuesday. Market bellwether Sabic rebounded 0.72% to SR104.25.
Shares of National Petrochemical Co., known as Petrochem, declined 0.46% to SR21.65. Earlier in the day, Petrochem reported a net loss for the first six months of SR22.9m compared to a net loss of SR80.6m for the same quarter in 2010 representing a decrease in loss of 71.58%. One reason for the loss, according to Petrochem's statement to the Saudi Stock Exchange, was that its main project (Saudi Polymers Company) was still under construction, but "is expected to be completed by the end of 2011."
Source: AME Info
Financial stocks drag Qatar bourse down
July 19, 2011--The QE Index ended off 0.70% at 8,382.29 points on Tuesday. Doha Bank fell 1.54% to QR51.10.
International Islamic Bank added 0.41% to reach QR49.00. Qatar National Bank declined 0.91% to QR141.50. Shares of Qatar Gas Transport Company, known as Nakilat fell 0.61% to QR17.96. Earlier in the day, Nakilat disclosed a net profit for the first six months of QR381.2m in comparison to QR329.9m for the same period last year.
Source: AME Info
Kuwait exchange rebounds half a percent
July 19, 2011--Advances in the real estate and banking sectors lifted the KSE Market Index to 6,004.2 points, up 0.52%. Pearl of Kuwait Real Estate Co. surged 9.75% to KD0.0225.
Shares of the country's largest lender National Bank of Kuwait, known as NBK, jumped 3.7% to KD1.220 after U. S. president Barak Obama said that he sees progress in the negotiations with the opposition in congress to avoid a partial U. S. default.
Source: AME Info
Aldar Properties dips, announces delivery first phase of Al Zeina
July 19, 2011--The ADX General Index declined 0.35% to 2,697.65 points.
Real estate bellwether Aldar Properties (off 0.80% at Dhs1.24) today confirmed that handover to homeowners has commenced at the beachfront Al Zeina residential community in Al Raha Beach. RAK Bank soared 3.33%, ending as a top gainer at Dhs4.65. Trading volumes increased slightly as 58.2m valued at Dhs77.1m.
Source: AME Info
Tamweel soars as half-year profits jump five-fold
July 19, 2011--The Dubai market's benchmark index DFM General lost 0.73%, ending at 1,522.10 points.
Shares of Islamic home finance specialist Tamweel gained 0.92%, closing at Dhs0.876. Earlier in the day, Tamweel announced a profit for the first half-year of Dhs54.96m compared to Dhs10.53m in the same period in 2010. Emaar declined 0.34% to Dhs2.95. Dubai Insurance gained the most (up four percent at Dhs2.60). Bank Emirates NBD fell 3.64% to Dhs4.24. Around 61.1m shares were traded, valued at Dhs80.7m.
Source: AME Info
Tadawul market dips for the second day straight
Juy 18, 2011--The Saudi Stock Exchange's benchmark index Tasi ended down 0.56% at 6,423.29 points on Monday.
Sabic dipped half a percent to SR103.50. Shares of Zamil Industrial declined one percent to SR30.20. Earlier in the day, Zamil announced a net profit for the first six months 2011 of SR84.7m ($22.6m), representing a decline of 28.3% over the same period in 2010. Earnings Per Share dropped to SR1.41 ($0.38) from SR1.97 ($0.52) in the same period in 2010.
Source: AME Info
Dubai Gold Securities surge as gold hits $1,600
July 18, 2011--At the NASDAQ Dubai, the FTSE NASDAQ Dubai UAE 20 Index closed at 1647.87 today, down 0.99%, from the previous close.
Shares of global port operator DP World dipped 0.16%, closing at $12.28. Dubai Gold Securities soared 0.93% to reach $158.52. The yellow metal on Monday rose for for the first time above $1,600 per ounce as debt worries in the Euro member states Greece, Italy and Ireland triggered new capital shifts from equities to gold. The ticking debt clock in the U. S. increased this effect.
Source: AME Info
Qatar Exchange loses half a percent
July 18, 2011--Qatari shares declined across the board, as debt woes in the US and Europe weighed on global capital markets.
The QE Index ended 0.50% lower at 8,441.40 points. Al Ahli Bank finished down 1.39%, closing at QR71.00. Qatar Islamic Bank bucked the trend slightly, adding 0.13% o reach QR78.70.
Source: AME Info
Global debt woes send Kuwait banks tumbling
July 18, 2011--The KSE Market Index ended on Monday closed 1.57% lower at 5,973.1 points.
As the debt clock is ticking in Europe and the US, financials dragged the bourse down. National Bank of Kuwait (NBK) dived 5.76% to KD1.040. Gulf Bank of Kuwait declined 3.8% to KD0.500. Sokouk Holding surged 14.3% and closed as a top gainer at KD0.020.
Source: AME Info
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