Middle East ETF News Older than One Year
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...
Source: AME Info
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...
Source: AME Info
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...
Source: AME Info
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...
Source: AME Info
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...
Source: AME Info
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.
Source: Egyptian Exchange (EGX)
IMF Mission Statement at the Conclusion of 2014 Article IV Discussions with Saudi Arabia
May 20, 2014--An International Monetary Fund (IMF) team led by Mr. Tim Callen,IMF Mission Chief to Saudi Arabia,held discussions during May 4-15 on the 2014 Article IV Consultation with Saudi Arabia. The completion of the Article IV Consultation is subject to the discussion by the IMF Executive Board. At the conclusion of the mission,Mr. Callen made the following statement:
"The economic outlook in Saudi Arabia remains favorable. Growth above 4 percent is expected in 2014 and 2015, led by government spending and robust private sector activity.
Risks around this growth outlook are evenly balanced. Inflation is likely to remain subdued."
"Saudi Arabia continues to play a systemic role in stabilizing the global oil market, which contributes positively to the global economy. Regionally,Saudi Arabia is a generous provider of financial assistance to other countries,while remittances sent home by expatriates working in the country are an important source of income for many countries."
The government is undertaking an ambitious economic reform and investment program to further develop and diversify the economy and create jobs, and important progress is being made.
Source: IMF
Beirut bourse aims to attract sukuk listings
May 20, 2014--The Beirut Stock Exchange (BSE) has announced it will launch an advanced electronic trading system, in collaboration with NYSE-EURONEXT International, The Daily Star has reported.
The new system aims to encourage the listing of Islamic bonds, or sukuk, on the bourse and attract financing through financial markets as well as the banking sector, said acting...
Source: AME Info
Zamil subsidiary snatches $32 million deal
May 20, 2014--In Riyadh, the Tadawul All-Share Index added 0.10 per cent to hit 9,731.47 points on Tuesday, May 20.
SABIC, the market’s biggest share by capitalisation, declined by 0.40 per cent to SAR116.25. Zamil Industrial Investment Company slipped 0.50 per cent to SAR55.50. Its subsidiary, Zamil Towers and Galvanizing Company, revealed earlier in the day that...
Source: AME Info
Bahrain bourse follows fickle GCC trend
May 20, 2014--The Manama-based Bahrain All-Share Index slipped 0.30 per cent to 1,450.44 points on Tuesday, May 20.
Esterad gained the most, finishing 3.96 per cent higher at BHD0.21. Bank of Bahrain and Kuwait posted the biggest drop, ending off by 1.86 per cent to BHD0.422.
Source: AME Info
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