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Gulf Warehousing Company appoints group CEO
October 3, 2013--The QE 20 Index advanced 0.65% to reach 9,761.03 points on Thursday, as shares on the market in Doha gained across the board.
Gulf Warehousing Co. added 0.87%, finishing at QR40.70. Earlier in the day, the logistics provider said in a filing to the bourse its board of directors has appointed Mr. Ranjeev Menon to the position of group CEO. Menon undertook the duties of his position as of Oct. 2.
Abu Dhabi bourse gains 0.50 percent over the week
October 3, 2013--The ADX General Index slipped 0.10% to 3,857.83 points on Thursday.
Eshraq Properties as the most liquid share advanced 1.70% to hit Dhs1.20. Market bellwether Etisalat, the first telecom provider in the UAE, finished flat at Dhs11.65. National Bank of Umm al-Qaiwain dived 10% to Dhs3.15. Around 346m shares were traded, valued at Dhs643m.
Tadawul market stabilises above 8,000 points.
October 2, 2013--The Tadawul All-Share Index added 0.10% in Wednesday closing at 8,014.39 points.
Sabic as the most liquid share edged up 0.52% to hit SR97.25. Saudi Ceramic Co. gained the most, finishing 4.66% higher at SR123.50. Saudi Arabian Mining Company, known as Maaden (Arabic for 'metals') ended flat at SR28. Earlier in the day, MEED reported Maaden planned to double its workforce by 2023.
Kuwait market stuck beneath 7,800 points
October 2, 2013--The KSE Market Index fell insignificantly on Wednesday, closing at 7,717.49 points.
National Bank of Kuwait or NBK closed flat at KD0.920. Kuwait Insurance Company gained the most, ending 9% higher at KD0.300. Safwan Trading and Contracting Co. plummeted 22% to KD0.530.
Saudi dairy giant Almarai raises SR1.7bn for perpetual senior sukuk
October 1, 2013--The Saudi Stock Exchange's market index Tasi gained 0.55% to reach 8,008.54 points on Tuesday.
Market leader Sabic added 0.52%, finishing at SR96.75. Almarai finished unchanged at SR54.75. Earlier in the day, Almarai said further to its announcement published on Tadawul dated Sept. 4, with respect to its first perpetual senior Islamic bond (sukuk), it raised an amount of SR1.7bn on Sept. 30 2013. "The current issue, which was made on a floating rate basis, is a perpetual senior sukuk callable after 5 years. This issue was a private offering to sophisticated investors resident in Saudi Arabia," said Almarai.
Depa advances,DP World declines at Nasdaq Dubai
October 1, 2013--The FTSE NASDAQ Dubai UAE 20 Index lost 0.50% at 2852.48 on Tuesday.
Regional interior design firm Depa Limited gained 1.06% to hit $0.475. Dubai Ports (DP) World, the world's third biggest maritime port operator, slipped 0.87% to reach $16.01.
Qatar market stabilises as Qatar Holding becomes bourse's sole owner
October 1, 2013--The Doha-based QE 20 Index advanced 0.20% to reach 9,628.30 points on Tuesday.
Earlier in the day, the market said in an e-mailed statement that the "Qatar Holding", the investment arm of the country's sovereign wealth fund Qatar Investment Authority (QIA) has signed an agreement with NYSE Euronext whereby it purchased NYSE Euronext's 12-percent stake in Qatar Exchange and has become the sole owner of Qatar Exchange. "Cooperation between Qatar Exchange and NYSE Euronext will continue in different fields including technology and expertise," said the exchange. Mr. Rashid Bin Ali Al Mansoori, CEO of Qatar Exchange said stated that the agreement was signed after the market achieved "all the strategic goals" that were identified for the company following the signing of the strategic partnership agreement between them in June 2009.
Saudi Stock Exchange has 8,000 points in sight, again
September 30, 2013--Stock traders in Saudi Arabia were unimpressed by a looming government shutdown that might start as of Oct. 1 amid political deadlock over president Barack Obama's healthcare reform proposals.
Symptomatic for the dull trading action in Riyadh, market bellwether Sabic closed flat at SR96.25. Earlier in the day MEED reported Sabic and Japanese industrial giant Mitsubishi issued tender for a $500m petrochemicals plant in Jubail in the Eastern region of the kingdom. Shares of Al-Ahsa Development Company gained 1.35% to reach SR15.05. Earlier in the day, Al Ahsa said in reference to the company announcement on Tadawul market on Aug. 28 2013 regarding the proposed Aluminum Foil project that it closed all costs that has been spent on the proposed aluminum foil project in the financial statements for the fiscal year ending Dec. 31 2013, which may have impact on the financial statements in the 4th quarter.
Bahraini shares swing between gains and losses
September 30, 2013--The Bahrain All-Share Index ended off 0.10% at 1,193.93 points on Monday.
United Gulf Investment Corporation gained the most, closing 4.17% higher at BD0.125. Khaleeji Commercial Bank finished unchanged at BD0.049. Earlier in the day, the Islamic retail bank announced the successful deployment of electrical power to Oryx Hills Project located in the Al Areen area. The Oryx Hills project has been developed by Surooh Real Estate Company, an investment vehicle managed by KHCB. "The project consists of 70 high-end modern style villas built to the highest architectural standards. All villas have high quality finishes and each comprises of a spacious garden, a swimming pool, and covered garages along with other amenities." The bank said in a filing to the exchange.
Saudi Hollandi Bank gains on sukuk issuance plans
September 26, 2013--The Tadawul All-Share Index declined by 0.26% to 7,981.07 points on Thursday.
Sabic, the biggest producer of petrochemical products, lost 0.52%, finishing a volatile week at SR96.75. Saudi Hollandi Bank was up 0.83% at SR36.50. Earlier in the day, the lender said its board of directors has resolved to issue Sukuk as a private offering to support its capital base by using a Sharia and Basel 3 compliant structure, subject to the approval of the competent authorities.
