Middle East ETF News Older than One Year
Egypt inflation falls in March
April 10, 2010-According to data by Egypt's Central Agency for Public Mobilization and Statistics, the country's inflation rate had
declined for a second month in March, giving the central bank more room to keep its benchmark interest rates at a three-year low, Bloomberg has reported. Urban inflation, the main rate the central bank monitors, slowed to 12.2% from 12.8% in February, the data showed.
Source: AME Info
OPEC daily basket price stood at $81.65 a barrel Thursday, 8 April 2010
April 9, 2010--The price of OPEC basket of twelve crudes stood at 81.65 dollars a barrel on Thursday, compared with $82.41 the previous day, according to OPEC Secretariat calculations. (View Archives).
The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
Source: OPEC
DFM: Three decimal Tick Size to be applied on securities with a market value below AED 1, as of April 8th 2010
April 2010-- Dubai Financial Market (DFM) would like to announce that it will apply the three decimal Tick Size system only on securities with a market value below AED 1, as of Thursday, April 8th 2010.
This will allow investors to trade in these securities with fractions of one Fills.
Source: Dubai Financial Market (DFM)
DFM falls 1.94%
April 8, 2010--The Dubai Financial Market (DFM) fell by 1.94% to 1,765.230, with six stocks rising, 18 falling and two remaining unchanged.
Ekttitab was the day's biggest gainer, moving up by 5.56% to Dhs0.57. Dubai Islamic Bank was the day's biggest faller, going down by 7.84% to Dhs2.35.
Source: AME Info
ADX slips 0.74%
April 8, 2010--The Abu Dhabi Securities Exchange (ADX) fell 0.74% to 2,823.44, with 14 stocks falling, eight moving up and six remaining unchanged. Umm al Qaiwain Cementwas the day's biggest gainer, moving up by 6.76% to Dhs0.79.
National Bank of Umm Al-Qaiwain was the day's biggest faller, going down by 9.63% to Dhs2.72.
Source: AME Info
Oil price rise to erase projected Oman deficit
April 8, 2010--Governor of Oman's central bank, Hamud bin Sangur al-Zadjali has said that rising oil prices could help the Sultanate avoid posting a budget deficit this year as forecast, even as it increases spending, Bloomberg has reported.
Rising oil prices and signs of global economic recovery "will give a strong push to the economy and will help boost investor confidence" in Oman, he said. Last November, the country had projected deficit for 2010 of OR800m ($2.1bn), or around 4% of gross domestic product, based on an oil price of $50 a barrel.
Source: AME Info
Tadawul posts slight rise
April 7, 2010--Saudi Arabia's Tadawul All Share Index (Tasi) rose 0.23% today to close on 6,774, led by the Building & Construction sector, which gained 1.30%.
Of the 138 symbols traded, 55 rose and 56 fell. Yanbu National Petrochemicals Co. climbed 3.88% to SR40.20.
Source: AME Info
UAE banks' government deposits fall 13%
April 8, 2010--According to official data by the UAE central bank, government deposits held in country's banks fell 13% in the first two months of 2010 to their lowest level since late 2008, Reuters has reported.
The drop is seen by analysts as an indication that policymakers are more comfortable with liquidity in the system. "We have been seeing that net government deposits in the banking sector has been coming down since the second quarter of last year across the GCC," Monica Malik, chief economist at EFG-Hermes in Dubai said.
Source: AME Info
DGCX volume increases 133% in first quarter of 2010
Trading in January-March stood at 495,059 futures contracts, valued at US $29.6 billion
March volume up 60% on last year at 162,034 contracts
April 7, 2010-- Dubai Gold & Commodities Exchange (DGCX) recorded a 133% rise in volume in the first quarter of 2010, with 495,059 futures contracts traded, valued at US $29.6 million.
Volume in the January-March period rose on the back of strong demand for currencies, gold and WTI crude oil futures, which recorded volumes of 361,760, 112,077 and 13,457 contracts respectively. Volumes in the first quarter increased by 128%, 133% and 138% for currencies, gold and WTI crude oil respectively.
The Exchange recorded 162,034 contracts in March, valued at US $9.7 billion, a 60% increase on March 2009. Trading activity was spurred by healthy growth in gold and WTI futures of 91% and 125% respectively. Currencies, which have attracted increased participation year to date, saw volume of 122,271 contracts in March, up 49% on last year, largely led by increases in Sterling/Dollar, Indian Rupee/Dollar and Yen/Dollar futures.
"The increased demand for DGCX futures is evident from the growth trend in the first quarter of 2010. It endorses the success of our strategy of offering a diversified product mix and liquid markets through tighter prices," said Eric Hasham, Chief Executive Officer, DGCX.
"Looking ahead, the Exchange will continue to strengthen its product range, taking into consideration member requirements, and provide participants with an ever more efficient and secure environment to trade," he added. Average daily volume in March stood at 4,601 contracts, up 53% on the same period last year.
Source: Dubai Gold & Commodities Exchange (DGCX)
Dubai bourse halts trading on nine Kuwaiti companies
April 7, 2010--The Dubai Financial Market has suspended nine Kuwaiti companies for no disclosing their annual results within the deadline of three months from the end of the financial year.
The suspended Kuwaiti companies are: Grand Real Estate, Hits Telecom, KFIC, Gulf Petroleum, International Investment Group, Bayan, National Industries, Ekttitab and Almadina Investment.
Source: AME Info
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