Middle East ETF News Older than One Year
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.
Source: Zawya
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
Source: Zawya
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
Source: IMF
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.
Source: Zawya
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.
Source: Zawya
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.
Source: Emirates 24/7
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.
Source: Zawya
KSE ends 40.89 pts higher as volume turnover tapers
November 10, 2013--NAPESCO jumps 45 fils; Wataniya Telecom tumbles
Kuwait stocks pulled higher Sunday, extending the gains to fourth straight session. The index, after a wobbly start, climbed 40.89 pts to 7,980.4 points helped by moderate buying in some of the mid and low caps. The heavyweights however were subdued even as investors await fresh cues.
The KSX 15 measure fell 1.15 pts to 1,101.29, almost unchanged from the start of the month, while weighted index inched 0.51 pts lower. The volume turnover meanwhile slipped below the 300 million mark for the first time during the month. 283.64 million shares changed hands -- a 13.33 percent fall from the previous session.
Source: Zawya
S&P Dow Jones to upgrade UAE to 'emerging market' status
The status will be effective September 2014
November 10, 2013-International equity index compiler S&P Dow Jones Indices has decided to upgrade the United Arab Emirates to emerging markets from frontier market status, with effect September 2014, the company said on its website.
S&P Dow Jones said the UAE's current foreign ownership limit of 49 per cent is satisfactory and there is an expectation that it will be relaxed in coming years.
Source: Emirates 24/7
Egypt Retains Emerging Market Tag, for Now
November 10, 2013--There weren't any big surprises for the Middle East in MSCI's semi-annual review, except one: Egypt.
The Arab country finds no mention in the index compiler's review for equity indices released over the regional weekend-a surprise for most investors after MSCI in June warned that Egypt might lose its coveted emerging market status amid political and economic turmoil there.
Source: Wall Street Journal
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