Middle East ETF News Older than One Year
Saudi Stock Exchange Index Rises 7 % in July
July 28, 2014--Saudi Stock Exchange "Tadawul" index closed at the end of last July at 10214.73, up 7.38 % compared to June, which is the highest rate since 2008.
The Exchange's monthly statistical report showed that the index achieved returns by 19.67 % from the beginning of the year 2014 until the end of July.
Source: Zawya
IMF Working paper-Middle East Transitions: A Long, Hard Road
July 25, 2014--Summary: Since the onset of the Arab Spring,economic uncertainty in Egypt, Jordan, Libya, Morocco, Tunisia,and Yemen (Arab Countries in Transition,ACTs) has slowed already sluggish growth; worsened unemployment, particularly of youth; undermined business confidence,affected tourist arrivals,and depressed domestic and foreign direct investment.
Furthermore,political and social tensions have constrained reform efforts. Assessing policy options as presented in the voluminous literature on the Arab Spring and based on cross-country experience,this paper concludes that sustainable and inclusive growth calls for a two pronged approach: short term measures that revive growth momentum and partially allay popular concerns; complemented with efforts to adjust the public’s expectations and prepare the ground for structural reforms that will deliver the desired longer tem performance.
view the IMF IMF Working paper-Middle East Transitions: A Long, Hard Road
Source: IMF
Dallah Healthcare secures 955 million Saudi riyal Islamic financing
July 25, 2014--The Tadawul All-Share Index finished Thursday, July 24, which marked the last trading day in July and in Ramadan, with a day-gain of 0.51 per cent to close at 10,214.73 points.
Buying power remained solid after the Saudi government announced earlier in the week to open the market for foreign institutions as early as Q1.
Source: AME Info
Bank earnings spree means little joy for Dubai market
July 24, 2014--The Dubai equity market index DFMGI fell by 0.34 per cent to hit 4,651.75 points on Thursday, July 24.
The financial sector was in the focus on one of the last trading days during Ramadan. Emirates NBD surged by 4.21 per cent to hit AED9.90.
Source: AME Info
Qatari developers in mixed trading on half-year results
July 24, 2014--The Qatar Exchange 20 Index lost 1.80 per cent to close at 12,952.82 points on Thursday, July 24.
United Development Company (UDC) added 0.18 per cent to reach 27.95. UDC, the builder of the man-made island, The Pearl Qatar, revealed a net profit of QAR 498.86 million ($135.92 million) in comparison to QAR 325.41 million ($88.74 million)
Source: AME Info
Stagnant half-year sends RAK Properties shares down
July 24, 2014--The Abu Dhabi market index ADXGI lost 0.23 per cent, closing at 4,952.96 points on Thursday, July 24.
Since July 15, the gauge has been running against the resistance level at 5,000 points. Ras al-Khaima (RAK) Properties slipped 1.96 per cent to AED1.00.
Source: AME Info
Bahrain banks advance amid lackluster trading
July 24, 2014--The Bahrain All-Share Index was sent 0.04 per cent higher to 1,471.64 points on Thursday, July 24.
Islamic bank Al Salam Bahrain posted the biggest leap, closing 1.85 per cent higher at BD0.22. Its local...
Source: AME Info
Saudi bourse extends gain, SABIC rises near 130 Saudi riyal
July 23, 2014--Euphoria remained high on the floor in Riyadh on Wednesday, July 23, following the government's announcement to open the GCC's biggest bourse to foreign institutional investors as early as Q1 2015.
The Tadawul All-Share Index edged u by 1.40 per cent to hit 10,162.73 points. SABIC surged 4.78 per cent, finishing at SAR 129.25.
Source: AME Info
Property shares keep Dubai exchange at bay
July 23, 2014--In the wake of a volatile trading session, the Dubai stock market general index DFMGI lost 0.24 per cent to hit 4,667.58 points on Wednesday, July 23, amid thin trading Arabtec lost another 1.65 per cent to close at AED4.16.
Union Properties and Emaar Properties fell by 1.90 per cent and 2.06 per cent, respectively.
Source: AME Info
Abu Dhabi Islamic Bank earns more in the first half-year
July 21, 2014--ADIB CEO, Tirad Al Mahmoud, addressing the Summit this morning, about the future of Islamic finance.
The Abu Dhabi market index ADXGI joined the rebound mood in Dubai and closed 1.48 per cent to reach 4,987.83 points on Monday, July 21. All sector indices, with the exception of insurance firms, landed in positive terrain. Waha Capital, the leasing, aviation and maritime investment firm advanced the most...
Source: AME Info
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