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While oil prices drop, Abu Dhabi bourse rises
September 8, 2014--The Abu Dhabi stock market gauge ADXGI closed 0.52 per cent higher at 5,187.75 points on Monday, September 8.
Investors demanded National Bank of Umm Al-Qaiwain (up by 7.70 per cent) and fish producer Asmak (5.27 per cent higher).
Saudi Stock Market August 2014
September 4, 2014--On July 22, 2014, the Saudi Arabian government approved the opening of its stock market, the Tadawul All Shares Index (TASI), to direct foreign investment. This decision was met with high approval from investors and economic experts throughout the Kingdom. On the day of the announcement, the Saudi market index breached the 10,000 point mark for the first time in six years, and closed the day at 10,025.14 points after jumping up over 275.12 points from when the day began.
Currently estimated at a capitalization of $530 billion, the Saudi stock market is the largest in the Arab world. This measure has been one of the most highly anticipated economic reforms in the Kingdom's recent history, and is set to take place in early 2015. The shift is predicted to dramatically increase the flow of foreign capital into the Kingdom, and carries the potential to instigate an inflow of up to $50 billion into the country.
Advanced Petrochemical in the spotlight on South Korea deal
September 4, 2014--The Tadawul All-Share Index closed 0.10 per cent higher at 11,068.83 points on Thursday, September 4.
Advanced Petrochemical surged 9.74 per cent to hit SAR59.50
Abu Dhabi-listed stocks lose across the board
September 4, 2014--The ADX General Index fell by 0.76 per cent to 5,141.18 points on Thursday, September 4.
Dana Gas dived 2.74 per cent to AED0.71. Abu Dhabi Commercial Bank gained the most, finishing 2.51 per cent higher at AED8.58.
Dubai market "PR rally" loses steam
September 4, 2014--The Dubai financial market general index (DFMGI) finished the first trading week of September lost one per cent to close at 5, 171.95 points on Thursday, September 4.
Emaar lost 1.30 per cent to hit AED11.55.
Qatar exchange index eyes 14,000 points
September 4, 2014--Doha shares bucked the sluggish trend in the GCC on Thursday, September 4, and closed 1.07 per cent higher at 13,985.98 points.
Qatar National Bank, the biggest lender in the GCC in relation to assets, consolidated above QAR200, closing 2.60 per cent higher at QAR209.80.
Bahrain Bourse stabilises
September 4, 2014--The Bahrain All-Share Index advanced by 0.10 per cent to reach 1,471.88 points on Thursday, September 4.
Delmon Poltry Company surged 7.70 per cent to BD0.28. Islamic bank Ithmaar dived 3.03 per cent to $0.16.
Swift to launch Islamic Finance Rulebook
September 4, 2014--Swift, in collaboration with The Association of Islamic Banking Institutions Malaysia (AIBIM) and the Malaysian Islamic financial community, announces that it will launch a new rulebook for the usage of Swift MT messages Isfor lamic finance.
Islamic finance is broadly defined as the financial services designed to comply with the principles of Islamic law.
This rulebook will provide greater clarity around Swift MT message usage based on Islamic principles in order to enable straight-through processing (STP), thereby improving efficiency as well as reducing risk and cost.
Dar Al Arkan shares fail to bank on Moody's rating
September 3, 2014--The Tadawul All-Shares Index TASI consolidated above 11,000 points on Wednesday, September 3.
The gauge closed 0.12 per cent higher at 11,061.14.
UAE non-oil private sector boom boosts stock market
September 3, 2014--With the UAE economic boom 'in full flow', according to HSBC chief economist Middle East and North Africa Simon Williams, the Dubai financial market general index (DFMGI) rose by 1.11 per cent to close at 5,171.95 points on Wednesday, September 3.
The gauge gained 57 per cent year to date.
