Middle East ETF News Older than One Year
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.
Source: AME Info
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.
Source: AME Info
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.
Source: AME Info
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.
Source: AME Info
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.
Source: AME Info
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.
Source: AME Info
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.
Source: FIN24
Qatar Electricity and Water secures $500m for desalination plant
September 26, 2013--The QE 20 Index declined 0.16% to 9,580.77 points. Qatar Islamic Bank or QIB closed flat at QR68.40, while Qatar Electricity and Water (QEWC) advanced 0.97% to reach QR156.50.
Earlier in the day, QEWC said it signed with a consortium of four banks – QNB Group, Barwa Bank, Masraf Al Rayan and QIB the finance documentation for a total of $500m for the RAF A2 Desalination Plant. QIB said it contributed $90m in the co-financing the desalination project "RAF A2". The project is currently under construction at Ras Abu Fontas which is considered as Qatar's power production and water desalination site. The 36m imperial gallons per day (MIGD) project represents 10% of the Gulf state's national water production.
Source: AME Info
Fitch affirms 'A+' rating for Etisalat, shares close even
September 26, 2013--The Abu Dhabi market index ADXGI advanced 0.06% to reach 3,838.81 points on Thursday.
Eshraq Properties was the most liquid share and jumped 2.65%, finishing at Dhs1.16. Market bellwether Etisalat closed flat at Dhs11.65. After the close bell rang, Fitch Ratings said it has affirmed the UAE's first telecom firm 'A+' (upper medium grade) rating. Agthia Group ended down 1.25% at Dhs3.96. Earlier in the day, the food and beverages firm said its CEO Ilias Assimakopoulos will step down at the end of 2013. Assimakopoulos served at Aghtia's helm since July 2006. A successor has yet to be appointed, said Agthia in a filing to the ADX.
Source: AME Info
Mashreqbank shares flirt with Dhs100, Tamweel falls ahead of trading suspension
September 26, 2013--The Dubai market index DFMGI closed half a percentage point higher at 2,736.89 points on Thursday.
The gauge is close to fulfill a double-top and poised to rise towards 3,000 points in case the index chart breaks out above 2,750 points (old high from Aug. 25, before the Syria crisis weighed on markets). Shares of Mashreqbank added another 9.22% to close at Dhs98.30. The only privately held local lender in the UAE expanded the allowed foreign share in its share to 20% form 2% last Thursday. Since then, Mashreq gained 47.47% in value. Islamic home financing firm Tamweel dived 3.28% to Dhs3.28%. Earlier in the day, Tamweel said its shares will be suspended from trading on the DFM on Oct. 1 2013 (next Tuesday) due to the conversion to a Private Joint Stock Company. Earlier in the month, Dubai Islamic Bank which owns 90% in Tamweel paid the firm's entire liabilities off, amounting to Dhs4bn. Emaar Properties slipped 0.35% to Dhs5.74. A total of 1.266bn shares were traded, valued at Dhs1bn.
Source: AME Info
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
