Middle East News Older Than 1 year-If your looking for specific news, using the search function will narrow down the results
UAE stocks end the week down
November 14, 2013--UAE stocks rose for the second straight day on Thursday but for the week, both the indices ended in the red.
Dubai's benchmark stock index closed 2.53 lower for the week. Last week too the emirate's gauge was down 0.81 per cent.
On Thursday, the DFM General Index rose 0.39 per cent to 2824.88.
IMF-Gulf Cooperation Council (GCC)-Economic Prospects and Policy Challenges for the GCC Countries
November 13, 2013--EXECUTIVE SUMMARY
The global and regional economic environment remains challenging. Global growth remains tepid, and although some pick-up is expected, risks are tilted to the downside. Recent volatility in financial markets is having a significant impact on some large emerging markets, highlighting the challenges that will be faced in unwinding the Federal Reserve's
quantitative easing policy.
Geopolitical uncertainties in the Middle East are also high.
Global oil markets are being affected by competing factors. The increase in nonconventional
oil production in the United States and weak global oil demand are putting
downward pressure on prices, while supply disruptions in some countries and uncertainties
arising from the unrest in the Middle East are applying upward pressure. Prices are close to
where they started the year, while futures markets are pricing in a gradual decline going
forward. GCC producers, particularly Saudi Arabia, are playing a key role in helping ensure
the global oil market remains well supplied in the face of supply disruptions elsewhere.
The growth outlook for the GCC is positive, but will be affected by global and regional
developments. While growth has slowed from the exceptionally strong rates in 2010-11, it
remains robust, and with confidence high and large infrastructure projects coming on stream,
it should remain well-supported going forward. The path of oil prices remains the main
uncertainty for the region, although countries would also be affected by increased volatility
in global financial markets or broader unrest in the Middle East region.
The newest emerging market in the Middle East
November 13, 2013--Qatar Exchange welcomed the decision of the Standard & Poors (S&P) Dow Jones to upgrade Qatar from a "frontier" to "emerging market", describing it as a positive step that will attract further foreign investments to the Qatari stock market.
Qatar Exchange CEO Rashid bin Ali al-Mansoori expressed his satisfaction at upgrading Qatar to an emerging market, which he said "clearly and evidently reflects the recognition of the positive steps made by Qatar Exchange over the past years, in terms of the development of the market infrastructure and the implementation of a number of important projects and initiatives."
UAE stocks rise slightly
November 13, 2013--UAE shares marginally rose on Wednesday after a few sessions of sell off when investors booked profits ahead of an expected volatility in the run up to the final decision of Expo 2020 later this month.
The DFM stock benchmark index closed 0.47 per cent higher to end at 2813.93. The volume traded was lower than on Tuesday, declining from 442.01 million shares to 359.23 million. The turnover stood at Dh504.25.
Kuwait closes 26.98 pts 'lower' in volatile trade
Zain slips 10 fils; Kout Food soars
November 13, 2013--=Kuwait stocks sagged Wednesday reversing the upswing in the previous session.
The index retreated 26.98 pts in volatile trade weighed by profit taking in select counters. The trading floor sentiment was cautious as companies scurry to release the earnings before the Thursday deadline set by the CMA. The KSX 15 benchmark eased 2.95 pts to 1,092.15 points and the weighted index edged 0.97 pts lower.P>view more
IMF-Regional Economic Outlook: Middle East and Central Asia
November 12, 2013--The near-term economic outlook for the Middle East and North Africa region has weakened. In the oil-importing countries, many of which are Arab countries in transition, regional conflict, heightened political tensions, and delays in reforms continue to weigh on growth.
In this context, the immediate policy priorities are to restore confidence and create jobs, make inroads into fiscal consolidation to restore debt sustainability and rebuild buffers, and embark on structural reforms needed to support private sector-led, job-intensive growth.
Most oil-exporting countries continue to enjoy steady growth in the non-oil sector, supported in part by high levels of public spending. Although headline growth has declined because of domestic oil supply disruptions and lower global demand, a recovery in oil production is expected to lift growth next year. Increased vulnerability to a sustained decline in oil prices and intergenerational equity considerations underscore the need for countries to strengthen their fiscal buffers. Key medium-term challenges remain economic diversification and faster private-sector job-creation for nationals.
Economic activity in the Caucasus and Central Asia is expected to continue to expand rapidly. Growth will be driven by a recovery in the hydrocarbon sector and firm growth in domestic demand, supported in part by robust remittance inflows. Considerable downside risks weigh on this outlook, however, stemming in particular from slower-than-expected growth in Russia, an important trading partner and source of remittance inflows. Countries should take advantage of the favorable near-term economic conditions to rebuild fiscal policy buffers that were eroded after the global crisis and set in motion a process of structural transformation into dynamic emerging economies.
view the IMF Regional Economic Outlook: Middle East and Central Asia
UAE stocks decline again
November 12, 2013--UAE stock markets continued to witness sell-off on Tuesday after Monday's sharp falls in Dubai, which analysts said was profit-booking ahead of the Expo 2020 announcement.
Both the indices-the Dubai Financial Market (DFM) General Index and ADX Securities Index- dropped the same, 0.78 per cent to close at 2800.69 and 3781.94 respectively.
Dubai stocks rise most in a week
November 11, 2013--After a lack lustre week, Dubai stocks started the week on a positive note as volumes rose amid investors' expectations that the emirate may likely win the Expo 2020 bid later this month.
The DFM General Index rose the most in a week, closing 0.17 per cent higher to 2,903.30. Volumes increased to Dh631.93 million shares from Thursday's 516.86 million. The turnover was up 60.35 per cent to Dh785.91 million.
DGCX volumes rise 56% 2013 year-to-date volumes hit 12.17 million contracts in October
November 11, 2013--Year-to-date volumes on the Dubai Gold and Commodities Exchange (DGCX) grew 56 per cent in October from the same period last year to total 12.17 million contracts, valued at $25 billion.
Among the key highlights of October trading was the robust growth of precious metals contracts. Gold Futures volumes increased 60 per cent from last month to reach 45,928 contracts while silver futures rose 88 per cent, hitting its highest monthly volume of 2,882 contracts this year.
MSM closes flat amid weak trading
November 11, 2013--European markets advanced, extending five weeks of gains on better-than-expected Chinese industrial data.
Regional markets remained mixed while the Muscat Securities Market general index closed flat at 6,765.09.
