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Dubai market cheers nod for Emaar's IPO plans
May 26, 2014--The Dubai Financial Market General Index (DFMGI) gained 1.86 per cent to hit 4,954.62 points on Monday, May 26.
Emaar was in the focus of the trading action, adding 3.22 per cent to hit AED10. The developer and market bellwether has received the required approval from the UAE’s Securities and Commodities Authority for selling down...
SABIC soars on Korean joint venture
May 26, 2014--The GCC equity bellwether index Tadawul All-Share Index closed 0.50 per cent higher at 9,821.53 points on Monday, May 26.
SABIC edged up by 0.78 per cent to hit SAR117. Earlier in the day, the world's biggest producer of petrochemicals said that its wholly owned subsidiary SABIC Industrial Investment Company and the Korean petrochemical company...
Abu Dhabi bourse re-conquers the 5,000-points mark
May 26, 2014--The Abu Dhabi equity market index (ADXGI) jumped 2.04 per cent to close at 5,026.37 points on Monday, May 26.
Emirates Telecommunications Corporation, better known as Etisalat, added 0.44 per cent, ending at AED11.40. Earlier in the day, the most valuable firm in the UAE revealed in a filing to the market that its subsidiary...
QE to introduce margin trading, short selling
May 25, 2014--The Qatari bourse is planning to introduce margin trading and covered short selling in the near future and so is busy with the regulator to evolve rules and regulations to govern the above transactions.
The idea is to increase investment opportunities on the market, diversify the market and help enhance liquidity. This was disclosed at a dinner meeting in London by the CEO of the bourse, Qatar Exchange ( QE ), Rashid Al Mansoori. Present at the meet held recently were sell side brokers and institutions in London who are responsible for international flow into the Qatari market.
Saudi Telecom launches riyal-based Sukuk scheme
May 21, 2014--The Tadawul All-Share Index in Riyadh gained 0.35 per cent to close at 9,765.82 points on Wednesday, May 21.
Saudi Telecom edged up by 0.40 per cent to reach SAR66.25. Earlier in the day, Saudi Telecom announced the establishment of a riyal-denominated Islamic bonds (sukuk) issuance programme, which will be a framework for the issuance...
Kuwait's IFA dives on first-quarter loss
May 21, 2014--The Kuwait Stock Exchange (KSE) market index declined by 1.44 per cent to close at 7,378.35 points on Wednesday, May 21.
International Financial Advisors (IFA) lost the most, ending down by 4.84 per cent to KWD0.059. Earlier in the day, IFA, which has shares listed on the Dubai market, revealed that it suffered a loss...
Vodafone Qatar's customer base up by 22 per cent
May 21, 2014--Like yesterday, the Qatar Exchange 20 Index slipped by 0.43 per cent on Wednesday, May 21,
closing at 12,679.53 points. The shares of Vodaone Qatar lost 1.16 per cent to hit QAR17.84. Earlier in the day, the second telecom operator in the gas-rich country revealed that its customer numbers grew by 22 per cent over...
Financials lead the rebound at Abu Dhabi bourse
May 21, 2014--Like its UAE sister exchange in Dubai, the Abu Dhabi equity index regained positive momentum.
The Abu Dhabi stock market index (ADXGI) surged by 1.72 per cent to close at 4,831.48 points on Wednesday, May 21. RAK Bank advanced the most, ending up by 8.97 per cent to hit AED8.50. Waha Capital, the aviation and...
Tadawul set to receive official nod for foreign access
May 21, 2014--Saudi Arabia's stock market is one step closer to gaining approval to allow direct foreign investment into equities, Bloomberg has reported, citing two people with knowledge of the matter.
The Capital Market Authority completed a draft set of rules for international investors more than a year ago, and at least three banks, including HSBC Holdings...
EGX Is Not Responsible to Review or Audit Financial Statements of Listed Companies
May 20, 2014--Referring to what has been published on some websites about the responsibility of the Egyptian Exchange (EGX) of the accuracy of financial statements of listed company, EGX is stating that its authority is not to audit the financial statements, as this is the responsibility of the auditors of the company first and the shareholders who vote in the general assemblies to adopt the financial statements and finally the administrative body that owns the company.
EGX address all the parties to revise the laws and regulations that clearly states the authority of the Egyptian Exchange before throwing responsibility.
