Middle East ETF News Older than One Year
ADX to deal listed companies' bonds
March 24, 2010--The Abu Dhabi Securities Exchange (ADX) has said it plans to trade bonds of listed companies to tap into demand from both issuers and investors, Reuters has reported.
Rashid al Baloushi, deputy chief executive of ADX, said the infrastructure, rules, regulations and other mechanisms are ready. 'We as a market see an opportunity to list bonds, it gives investors options also,' he was quoted as saying.
Source: AME Info
ADX's performance to reflect Abu Dhabi's economic strength in 2010
March 24, 2010--The projected positive performance for Abu Dhabi's economy in 2010 is to influence the performance of the Abu Dhabi Securities Exchange (ADX) .
According to recent reports that suggest an economic growth rate of 3% to 5% for the emirate during the year, and accordingly increasing the value of the listed companies participating in the economic development of Abu Dhabi, according to Rashed Al Baloushi, ADX's Deputy Chief Executive.
Source: AME Info
Abu Dhabi exchange to list ETF this week
March 23, 2010--The Abu Dhabi Securities Exchange (ADX) will list its first exchange-traded fund (ETF) by the end of this week, Emirates Business 24-7 reported, citing an interview with the bourse's deputy chief.
Last week, Saudi Arabia approved the kingdom's first exchange-traded fund, accessible to foreigners as part of efforts to open up the biggest Arab bourse.
"We have readied well for the launch of the Exchange Trading Funds," Deputy CEO of ADX, Rashid Al Baloushi told Emirates Business Rashid Al Baloushi, ADX's deputy chief executive officer told Emirates Business.
Source: Business Intelligence Middle East
Planned Saudi ETFs to include debt, commodities
March 22, 2010-- Saudi Arabia will allow its planned exchange-traded funds to include Islamic bond and commodity instruments in addition to Saudi shares, the Saudi stock exchange Tadawul said.
The Capital Market Authority (CMA) will also allow exchange traded funds that include only Saudi shares to be listed on foreign bourses, Tadawul said in a statement.
"Exchange Traded Funds (ETFs) are not limited to stocks alone but can also include sukuk or commodities such as gold and silver, but in the primary phase of this (ETFs) project, only funds with Saudi stocks will be launched," Tadawul said.
The world's top oil exporter has been trying to encourage more foreign money to its bourse, having allowed indirect foreign ownership via so-called swap agreements in 2008 as part of gradual efforts to open up the biggest Arab bourse.
Source: Interactive Investor
Dubai Gold And Commodities Exchange Weekly Views March 21, 2010
March 21, 2010--Commodities Overview
Commodities prices may do some base building this week, with a bias toward higher prices. Gold, silver, and petroleum all appear set to move somewhat higher in the weeks and months ahead.
Before they do that, however, prices may consolidate a while longer around recent levels. Gold and silver continue to benefit from investor interest in these metals as alternative assets. The on-going financial strife in Europe is helping to keep investors interested in precious metals. Additionally, the gold and silver markets have tightened somewhat in recent weeks. Many market participants, from bullion banks’ proprietary trading desks to smaller trading companies and institutional investors, have focused on this tightening, and are more willing to hold long positions in expectation of higher prices in the near term.
Currencies Overview
mong the major trading currencies, the dollar may show continued strength this week. Against the rupee and emerging market currencies, the dollar may face more headwinds. Investors are viewing the U.S. economy more favorably compared to economic trends in Europe, the United Kingdom, and Japan. As investors either re-deploy assets into the U.S. equity and commercial real estate market, or prepare to do so, the demand for dollars at the expense of euros, pounds, yen, and Swiss francs may keep the dollar strong against these currencies. The dollar may not fare so well against the rupee, Canadian dollar, rand, and other currencies, however.
Source: Dubai Gold And Commodities Exchange (DGCX)
DFm up 0.49%
March 18, 2010--The Dubai Financial Market (DFM) rose by 0.49% to 1,726.43, with 18 stocks rising, seven falling and four holding steady.
Emaar was the most active stock by value and by volume, rising by 1.10% to Dhs3.67.
Source: AME Info
Tadawul gains 0.92%
March 18, 2010--Saudi Arabia's Tadawul All Share Index (Tasi) gained 0.92% to 6,674, with 63 stocks rising and 44 falling. Alinma Bank, the day's most active stock by value and by volume, rose 0.78% to SR13.00, while fellow market leader Kingdom Holding gained 1.05% to SR9.60.
Saudi Investment Bank had the day's biggest rise, climbing 2.96% to SR19.10.
Source: AME Info
ADX slips 0.62%
March 18, 2010--The Abu Dhabi Securities Exchange (ADX) fell by 0.62% to 2,831.62, with seven stocks rising, four remaining unchanged and 26 falling.
Abu Dhabi National Hotels was the day's biggest riser, moving up by 4.42% to Dhs4.49. Abu Dhabi National Co. for B and M was the day's biggest faller, going down by 9.48% to Dhs2.10.
Source: AME Info
China now largest oil and gas investor in Iraq
March 18, 2010--China has become the biggest single investor in Iraq's oil and gas sector, with nearly one fifth of the reserves that have been auctioned over the past year under its control, Meed has reported.
China has become the biggest single investor in Iraq's oil and gas sector, with nearly one fifth of the reserves that have been auctioned over the past year under its control, Meed has reported.
Source: AME
Dubai World may offer full repayment with interest, says report
March 17, 2010-Dubai World, which is attempting to renegotiate some $26bn in debt, will offer banks full repayment over a seven-year period with interest likely linked to LIBOR, Al Arabiya reported on Wednesday.
The broadcaster quoted 'informed banking sources' in the report posted on its website
Source: AME Info
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