Middle East ETF News Older than One Year
UAE markets move in opposite directions
January 14, 2014--UAE stocks markets moved in opposite directions on Tuesday as Dubai continued to move higher led by construction and financial shares and Abu Dhabi witnessed sell-offs in consumer staples and services sectors.
Arabtec, the Middle East's leading engineering and construction company, which won a Dh2.59 billion contract for a mixed use development in Abu Dhabi's Al Reem Island, was among the top five active stocks in terms of turnover, advancing 5.46 per cent to Dh3.09.
Source: Zawya
UAE shares continue their uptrend
January 13, 2014--UAE shares continued their uptrend to register five-year highs as investors remained bullish in the first month of the new year amid expectations of healthy earnings and dividend gains from real estate and banking stocks in the fourth quarter.
The Dubai Financial Market General Index, which made the smallest weekly gain last Thursday, closed 1.29 per cent higher yesterday to 3549.90.
Source: Zawya
IMF Working paper-Economic Growth and Government Spending in Saudi Arabia: an Empirical Investigation
January 13, 2014-- Summary: This paper empirically examines the effects of different types of government expenditures, on economic growth in Saudi Arabia. We use different econometric techniques to estimate the short- and long-run effects of these expenditures on growth and employ annual data over the period 1969-2010.
Our findings indicate that while private domestic and public investments, as well as healthcare expenditure, stimulate growth in the long-run, openness to trade and spending in the housing sector can also boost short-run production. These findings draw some policy implications for Saudi policymakers on maximizing the returns of the government spending on economic growth.
Source: IMF
DGCX Trading Volumes Reach New Highs in 2013
January 13, 2014-- Annual 2013 volumes rise 43% to 13,759,255 contracts
January 13, 2014--Average Daily Volume rise to 54,384 contracts
Continuing its strong growth momentum from the previous year, trading volumes on the Dubai Gold and Commodities Exchange (DGCX) touched new highs in 2013.
Annual volumes in 2013 grew 43% from 2012 to reach 13,759,255 contracts, the Exchange's highest ever. Traded over a period of 253 trading days, 2013 volumes represent a value of $ 448.25 billion. Average daily volume (ADV) registered a significant growth to reach another all-time high of 54,384 contracts.
Source: DGCX
Bulls hold firm on UAE bourses
January 9, 2014--Bulls continued to hold firm on UAE bourses on Thursday on hopes of strong economic recovery and growing investor confidence.
Banks and real estate shares got a boost in Dubai with the DFM General Index closing higher by 1.77 per cent at 3504.66 points. Both volume and value crossed the one-billion mark on strong trading activity.
Source: Zawya
Insurance and realty shares lift Dubai index up 1.96%
January 9, 2014--Dubai's benchmark measure DFM General Index rose 1.96 per cent to 3,443.76 points on Wednesday after some recent bouts of profit-taking, led by insurance and real estate shares.
The Fed is expected to release the minutes of its December policy meeting and the US jobs data late last night [Wednesday night] which are expected to be positive and this fuelled rally in stock markets across the world.
Source: Zawya
January 8, 2014--Saudi Arabia's benchmark Tadawul All-Share Index (TASI) retreated to 8,608.8 points Tuesday, which was roughly where it started the session.
It took a U-turn after 23.76 points earlier fall and then moving sideways for most of the session closed three points below the break-even line. Small cap indices fell more than two percent for the day. Most of the major sectors closed in the green territory, accumulating an aggregate of 369 points.
Source: Zawya
Financial and investment services sector steal limelight in 2013
January 6, 2014--Seven out of the nine sectors on the Dubai Financial Market ended in green last year, with the financial and investment services sector increasing the most by 169.2 per cent, followed by the banking, real estate and construction sectors by 120.6 per cent, and 108.2 per cent respectively, according to DFM's latest report.
The consumer staples sector index ended down by 9.9 per cent while the Insurance sector index down by 7.2 per cent.
Source: Zawya
Qatar Exchange index hits 52-week high
January 6, 2014--Qatar Exchange extended the rally lifting its 20-stock benchmark index to a 52-week high yesterday.
Driven by the buying interests of local retail investors, the index closed 1.13 percent higher at 10,664 points with the market cap growing by QR5bn to reach QR566bn from last trading session's QR561bn.
The Trading value stood at QR503m compared to last session's QRR330m. Of the 40 companies traded, 26 advanced and 11 fell yesterday.
Source: Zawya
Qatar Central Bank sets up central securities depository company
January 5, 2014--Qatar Central Bank (QCB) on Saturday announced the establishment of the Qatar Central Securities Depository (QCSD) company.
The new company will start its work from January 2, 2014, according to a press statement issued by QCB.
The company will hold all activities and tasks carried out by the central registration department of the Qatar Exchange (QE), the statement said,
Source: Qatar Tribune
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