Middle East ETF News Older than One Year
Qatar bourse rebounds 0.85%
December 14, 2010--The Doha-based QE Index added 0.85%, reaching 8,816.38 points on Tuesday.
Qatar celebrated today achieving 77m tonnes per annum of liquified natural gas (LNG) production capacity. Doha Bank shares jumped 3.23% to close at QR64, a new 26-month high.
Source: AME Info
Abu Dhabi real estate blue chips weaken further
December 14, 2010--The ADX General Index lost 0.62% on Tuesday, finishing at 2,727.86 points. As oil prices got stuck around $88 per barrel, energy bellwether
Taqa declined 0.68% to close a Dhs1.45. Real estate developer Aldar plummeted 2.13%, ending at Dhs2.30. The share has lost 8% during the last five trading sessions. Eighteen stocks lost, three ended flat and five advanced. Abu Dhabi Ship Building Co. posted the largest advance (up 9.70% at Dhs2.94).
Source: AME Info
Nasdaq Dubai equity trading increases 37% year-on-year in November
December 14, 2010--The FTSE NASDAQ Dubai UAE 20 Index closed at 1778.660 on Tuesday, down 0.76% from the previous close. DP World shares dipped 0.17% to finish at $0.59.
Earlier in the day the exchange announced that the value of equities traded on NASDAQ Dubai increased by 37% to $97min November 2010, up from $71m dollars in November 2009. In the first 11 months of 2010, NASDAQ Dubai's equities traded value rose 32% to 1.2 billion dollars, from 911 million dollars in the same period of 2009. Deutsche Bank was the most active member of the exchange by traded value in November, controlling a market share of 41%. Deutsche was followed by EFG Hermes and Mubasher.
Source: AME Info
Trading volumes at Dubai market near meltdown
December 14, 2010--The DFM General Index failed to sustain an early upswing and ended eventually 0.84% lower at 1,629.98 points. The DFM, the only Arab market which is listed publicly (as yet), saw its shares declining by 1.97% to close at Dhs1.49.
During the last three months DFM shares plummeted 13%. Today, only 68m stocks in total changed hands at the local Dubai bourse. Earlier in the day, Fahima Bastaki, Senior Vice President for Market Development at the DFM told AMRinfo.com at the sidelines of a conference, that the DFM is confident that the UAE will be upgraded by index provider MSCI to "emerging market"-status "in mid-2011". "Two issues have to be solved: the payment and delivery-structure at the DFM and foreign ownership", Ms. Bastaki said.
Source: AME Info
Tadawul market outperforms GCC exchanges
December 13, 2010--The Saudi Stock Exchange was the only market on Monday which added value, closing 0.74% higher at 6,508.93. Arabian Pipes, which produces longitudinally welded steel pipes and coated needed for pipelines, extended its bull run, jumping 10% to end at SR24.20.
Market bellwether Sabic ended flat at SR104.00. Ash-Sharqiyah Development Company was the main loser, finishing 3.99% lower at SR38.50.
Source: AME Info
National Bank of Kuwait advances fail to lift local stock market
December 13, 2010--In Kuwait City, the KSE Market Index dipped 0.25%, ending at 6,786.8 points.
Leading lender National Bank of Kuwait jumped 3.17% to reach KD1.300. Telecom heavyweight Zain (up 2.82% at KD1.460) also failed to lift the entire market, as losses in the industrial and services sector weighed on the sentiment.
Source: AME Info
Qatar shares dip across the board
December 13, 2010--All sector indexes landed in the red at the Qatar Exchange (QE) on Monday, as investors booked small profits after a month-long rally.
Blue ships such as Qtel (down 0.17% at QR179) plost slightly. Shares of National Leasing shares bucked the trend, gaining 1.76% to reach QR46.30. The firm cracked a 2.5-year high on December 2nd.
Source: AME Info
Aldar uncertainty weighs on Abu Dhabi bourse
December 13, 2010--The ADX General Index weakened 0.77% to close at 2,744.89 points. RAK Bank posted the largest gain, closing 8.89% higher at Dhs4.90.
But uncertainty about how strongly the Abu Dhabi government will support Aldar Properties, the largest real estate developer in the oil-rich sheikhdom, weighed on the sentiment as Aldar has Dhs14bn or $3.81bn debt maturing next year. Ras al-Khaima (RAK)-based Gulf Pharmaceutical Company, also known as Julphar (the old name for RAK), gained 2.94% to close at Dhs1.75. "The GCC Pharmaceuticals Industry report projects a sharp increase in the healthcare needs in the coming years, primarily lead by growing and ageing population and a rise in chronic non-communicable 'lifestyle' diseases", says Sameena Ahmad, Managing Director at Alpen Capitali in Dubai. According to UAE Minister of Health Dr. Hanif Hassan, 19% of UAE nationals suffer from diabetes.
Source: AME Info
Dubai market loses 1.35%
December 13,2010--Chances diminish that the Dubai market will end with a profit year-to-date as the DFM General Index declined 1.35% to finish at 1,653.61, despite comments from Standard Chartered Bank in Dubai from yesterday, that Dubai will be able to meet debt obligations of $18bn in 2011.
Real estate bellwether Emaar Properties lost 2.44% to close at Dhs3.66. District cooling specialist Tabreed (off 5.61% at Dhs1.85) was the main loser. Islamic financial institution Ajmanbank (up 0.60% at Dhs0.84) was one of the five gaining shares. Trading volumes rose over 30% to 116m shares changing hands. On a year-to-date basis the local Dubai market dipped 5.91%.
Source: AME Info
DIFC revises the cost of doing business to stimulate further expansion and growth
December 12, 2010--Highlights:
DIFC encouraging its 780 existing companies to continue the expansion of their businesses from the Centre
Increased focus on attracting new players looking to benefit from the DIFC’s position as a global business and financial hub
Revised cost of doing business covers office rents and several operational fees
The Dubai International Financial Centre (“DIFC”), the financial and business gateway between the Middle East, Africa and South Asia region (“MEASA”) and the world, announced today the details of its new revised pricing structure which is designed to enable new and existing companies operating from the Centre to continue the growth and expansion of their businesses.
Source: Dubai International Financial Centre (DIFC)
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