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CBQ shares dive as annual profit retreats
February 10, 2014--The QE 20 Index climbed 1.02 per cent to 11,305.87 points on Monday, February 10. The country's second lender Commercial Bank of Qatar (CBQ) dived four per cent to QAR70.
Earlier in the day, CBQ said that the financials for 2013 revealed a net profit of QAR1.605 billion in 2013 versus QAR2.012bn in 2012. Profit for the fourth...
DSI expands footprint in Eastern Europe
February 10, 2014-- The Dubai Financial General Index DFMGI gained 1.29 per cent, reaching 4,025.69 points on Monday, February 10.
It was the first to close above 4,000 points in more than six years. Drake and Scull International (DSI) was the most liquid share, ending up 4.76 per cent at AED1.76.
UAE markets end the week in positive territory
February 7, 2014--UAE markets ended the week higher on Thursday with Dubai's benchmark stock index surging more than 4% compared to a one per cent rise in the capital's measure.
The Dubai Financial Market General Index rose 1.45 per cent to 3931.44 as volumes and turnover fell to 2.67 from Wednesday's Dh3.25 billion. Total volume traded stood at 1.27 billion shares. Much of the trading was driven by investors buying shares of Emaar Properties, the bonds of which was upgraded on Wednesday to investment grade by ratings agency S&P, with a stable outlook. The stock jumped 4.67 per cent to Dh8.30.
Slow Growth in the Middle East and North Africa Region Calls for Bold Approach to Economic Reform
A short term focus on political and security concerns has stood in the way of the structural reforms needed for growth and stability.
February 7, 2014-- Ongoing regional tensions, together with a challenging external environment, have hit the economies of the Middle East and North Africa (MENA) region hard. Economic growth is slowing, fiscal buffers are depleting, unemployment is rising, and inflation is mounting in seven transition countries in the region.
Long overdue reforms, that could help spur growth and create jobs, have continued to be delayed to avoid further social and political discontent. The World Bank Group’s latest Quarterly Economic Brief argues that these countries should seize the opportunity to advance structural reforms needed to break the vicious circle of slow growth and political instability.
view the World Bank MENA Quarterly Economic Brief
Saudi market crosses barrier at 8,800
February 6, 2014--The Tadawul All Share Index gained 0.30 per cent to 8,819.31 points on Thursday, February 6.
Market bellwether SABIC closed unchanged at SAR111.25. Islamic bank Alinma was the most liquid stock, edging up by 0.87 per cent to SAR17.45.
Bahrain bourse on a steady rise
February 6, 2014--On Thursday, February 6, the Bahrain All Share Index continued to expand one of its best starts into a new year since the Arab Spring hit the country.
Islamic Bank Al Baraka surged by 3.70 per cent to $0.84. Since January 1, the market gauge advanced by 4.43 per cent. Its rival Al Salam Bahrain...
Qatar Electricity and Water Company gains despite lower net profit
February 6, 2014--The QE 20 Index climbed 0.52 per cent to 11,192.21 points on Thursday, February 6.
Qatar Electricity and Water (QEW) Company added 0.33 per cent, finishing at QAR181.60. Earlier in the day, QEW disclosed the financial statements for the year, ending December 31, 2013. The financials revealed a net profit of QAR1.38 billion in 2013...
Green Crescent Insurance falls as CEO resigns
February 6, 2014--The Abu Dhabi market index ADXGI gained for the second day straight, closing 0.71 per cent higher at 4,721.72 points on Thursday, February 6.
It was driven by gains in the banking and industrial segment. Union National Bank surged 4.70 per cent to AED6.70. Arkan Building Materials edged up by 14.67 per cent, near limit
Investor's hail Emaar upgrade
February 6, 2014--The Dubai Financial General Index DFMGI closed 1.26 per cent higher at 3,928.45 points on Thursday, February 6.
Market bellwether Emaar Properties jumped by 4.67 per cent to AED8.30. Earlier in the day, Emaar said that the rating upgrade to BBB- from BB+ by Standard and Poor's reflected the developer's "sound performance of Emaar's shopping...
DGCX records robust start to 2014
February 6, 2014--January volumes up 36% from last month, registering 1,043,200 contracts
Currencies register month-on-month increase of 37%
Sensex Futures grow 91% to reach 14,913 contracts
The Dubai Gold & Commodities Exchange (DGCX) recorded a robust start to the year, with a total of 1,043,200 contracts traded in January, an increase of 36% over December 2013.
