Abu Dhabi Islamic Bank advances as Abu Dhabi banking sector increases UAE share-continued

March 08, 2012--In line with the general recovery at global financial markets Thursday, the ADX General Index closed 0.33% higher at 2,561.74 points
. Fujairah Cement Industries gained the most (up 9.20%), while First Gulf Bank, as the most liquid shares, dipped slightly. Shares of Abu Dhabi Islamic Bank (ADIB) gained 0.30%. Earlier in the day, National Bank of Abu Dhabi's Chief Economist Dr. Giyas Gokkent said in an eMailed statement, "data from financial statements of listed banks continue to point to a rise in the share of Abu Dhabi based banks in the UAE banking system. Abu Dhabi based banks’ assets are getting closer to accounting for half of the UAE banking system, up from about 34% at the start of 2008." He added that "listed Abu Dhabi based banks’ deposits rose by 8.1% year-on-year in 2011, while top listed Dubai banks’ deposits fell by 3.5% year-on-year in 2011."

Source: AME Info


Middle East ETP News
Britain leaves EU: How is GCC affected?
June 24, 2016--The United Kingdom has decided to leave the European Union (EU), after a nation-wide referendum held on Thursday voted in favour of an exit, which has come to be known as "Brexit".
read more
Firmer oil prices support Gulf bourses in early trade
June 22, 2016--Firmer oil prices supported stock markets in the Gulf in early trade on Wednesday but trading volumes were thin as most investors stayed on the sidelines before Britain's in-or-out European Union referendum on Thursday.
read more
Egypt: U.S Investments in Egypt Fell By 85.9 Pct. in 2015-Capmas
June 22, 2016--U.S. investments in Egypt have retreated during the past year by 85.9 per cent compared to investments made in 2014, the state's official statistics agency said on Wednesday.
read more
Gulf stock markets mostly firm, NBAD continues climb
Monday 20, 2016--Most Gulf stock markets were firm in early trade on Monday while National Bank of Abu Dhabi (NBAD) continued to surge in response to its merger talks with First Gulf Bank.
read more
M&A activity may support Gulf, rate hike hit Egypt
June 19, 2016--Larger-than-expected interest rate hike could weigh on Egypt.
read more
MIDEAST STOCKS-Gulf mostly soft, revived Americana talks support Kuwait
June 16, 2016--Kharafi-linked shares gain on renewal of stake talks
Saudi's Dar Al Arkan rises in volatile trade
Saudi Electricity climbs for fifth straight session
read more
Gulf may remain soft on oil, global shares
June 16, 2016--Stock markets in the Gulf look set to remain soft on Thursday after international bourses and oil markets slipped, partly because of fears that Britain might leave the European Union in next week's referendum.
read more
Gulf mixed, Saudi firm after MSCI disappointment
June 15, 2016--Gulf stock markets were narrowly mixed in early trade on Wednesday with Saudi Arabia holding up despite disappointing news that MSCI did not put the country on a list for possible reclassification to emerging market status.
read more
Economists split about Egypt's interest rate decision on Thursday
June 15, 2016--Six out of 11 economists in the Reuters poll expect the bank to hold rates while five expect a hike ranging from 25 basis points to a full percentage point.
read more
Gulf may have weak bias before MSCI, Brexit decisions
June 14, 2016--Stock markets in the Gulf may trade with a weak bias before MSCI's decision on Tuesday evening on whether it will consider Saudi Arabia for inclusion in its emerging markets index, and before Britain's June 23 decision on whether to leave the European Union.
read more
Report: Saudi cabinet approves land tax, foreign investment rules
June 14, 2016--Saudi Arabia's cabinet approved a tax on undeveloped urban land and rules allowing foreign investors to own 100 percent of retail and wholesale businesses, the official SPA news agency said on Monday.
read more
Gulf retreats in early trade on oil, global stocks
June 12, 2016--Stock markets in the Gulf retreated in early trade on Sunday as investors booked profits in response to lower oil prices and a pull-back by international stock markets.
read more
Saudi higher on housing plan, oil supports petchems
June 9, 2016--Saudi Arabia's stock index was headed for its fourth session of gains early Thursday after the housing ministry announced plans to build over one million homes, while oil's recent rally helped petrochemical shares.
read more
MIDEAST STOCKS-Saudi bourse may gain as investors digest economic plan
June 8, 2016--Saudi Arabia's stock market may edge higher on Wednesday as the government delivered a series of televised panel discussions with key ministers outlining a five-year economic transformation plan, while other Gulf bourses may hold onto recent gains as oil holds at 2016 highs.
read more
Egypt: EGX Gains Egp 2.1 Billion
June 8, 2016--The Egyptian Exchange (EGX) gained 2.1 billion pounds at the end of Tuesday's trading backed by purchase operations by investment funds and financial institutions.
read more
Investors lukewarm on Saudi reform plan, fear hit to economy
June 7, 2016--Plan contains hundreds of policies and targets
Most detailed, ambitious revamp of economy in decades
But austerity steps will be big drag on economy
read more
Market making set to return to Abu Dhabi stock exchange
June 6, 2016--Market making is set to return to the Abu Dhabi stock exchange (ADX) later this year, sources told Reuters on Monday.
read more
Business sentiment wanes as Middle East economic outlook worsens
June 6, 2016--Optimism in the Middle East region's business world has dwindled to its lowest levels in several years, if new survey findings are any indication.
read more
Saudi shares fall before reform news; Zain up on refinancing
June 5, 2016--Saudis expected to announced details of reforms
Zain Saudi up 10 pct daily limit on loan refinancing.
read more
MIDEAST STOCKS-Gulf bourses may be caught in a lull ahead of Ramadan
June 5, 2016--Stock markets in the Gulf may follow global markets lower on Sunday, although activity is expected to be weak ahead of the Muslim holy month of Ramadan.
read more
Full text of Saudi Arabia's Vision 2030
May 1, 2016--The Saudi cabinet has endorsed a sweeping set of programs and reforms to be implemented by 2030.
read more
Mideast funds more cautious on equities, bonds
May 31, 2016--Only 7 percent of managers now expect to increase allocation to Egyptian equities and 21 percent plan to reduce exposure, compared to a balance of 29 percent in each category in the previous poll
read more
Bourses fall in broad sell-off after oil dips below $50
May 30, 2016--Saudi shares closes at pre-economic reform announcement levels
Petrochemical shares main drag as oil falls below $50
Dubai snaps five days of gains as investors book profits
read more
Gulf bourses rises in early trade as oil breaks $50
May 26, 2016--Gulf shares rose in early trade on Thursday as oil prices climbed to hit their highest levels in six months.
read more