Middle East ETF News Older than One Year
Qatar's Al Meera Consumer Goods soars on new hypermarket
February 21, 2013--Due to the negative input from Asia and the U. S., where profit takings and Fed's hint to a possible end of Quantitative Easing weighed, the QE 20 Index lost 0.76% Thursday, closing at 8.734.56 points.
Losses occurred in the financial sector Shares of Al Meera Consumer Goods Co. jumped 2.74 to reach QR149.90. Earlier in the day, Al Meera said hypermarket it opened the first Géant hyper market at Hyatt Plaza, Doha, last Sunday, Feb. 24. Al Meera said in an e-mailed statement "The opening of Géant hypermarket follows an agreement signed between Al Meera Consumer Goods Company and French retailer Casino to develop a network of hypermarkets and supermarkets under the Géant banners in selected Middle East countries."
Source: AME Info
Julphar reports higher net profit
February 21, 2013--The ADX General Index gained 0.40% to hit 3,022.48 points.
The UAE's first telecom giant Etisalat was the most liquid share (up 0.10% at Dhs10.20). Julphar shares were not traded, the last closing price stood at Dhs3.05. Earlier in the day the Ras al-Khaima-based pharmaceuticals producer said in 2012 its net profit increased to Dhs200.195m, up from to Dhs170.18m in the year before.
Source: AME Info
Dubai market pinned down at 1,923
February 21, 2013--The DFM General Index closed flat Thursday amid lackluster trading.
Emaar added 0.40% to reach Dhs5.03. Al Salam Bank Bahrain lost the most (off 5.35% at Dhs0.83). Some 163m shares were traded, valued at Dhs312m.
Source: AME Info
Bahrain Bourse stabilises
February 21, 2013--The Bahrain All-Share Index closed unchanged Thursday, at 1,102.80 points.
United Gulf Investment Corp. or UGIC dived 9.50% to BD0.105. UGIC said it earned in 2012 a net profit of BD4.08m, up from BD340,362.
Source: AME Info
Consumer spending drove Egyptian economy growth in H2 2012
February 20, 2013--The Egyptian government has said the country's economy grew 2.4% in the last six months of 2012, citing consumer spending as a main driver for an economy battered by two years of political turmoil, Reuters has reported.
Egypt is seeking a $4.8bn loan from the International Monetary Fund (IMF), though many economists expect a deal will not be concluded until after parliamentary elections due to get under way in April or May. The cabinet said it expected to complete a revised economic programme "within a few days" for presentation to "the Egyptian and international community" and the IMF, but did not say when it would send it to the international lender.
Source: AME Info
Abdullah A. M. Al-Khodari shuts down Dubai branch
February 19, 2013--The Saudi Stock Exchange fell 0.44% to close at 7,025.74 Tuesday.
Sabic, the world's number one in production of petrochemicals lost 0.80% to SR92.50. Construction contractor Abdullah A. M. Al-Khodari Sons Company closed unchanged, at SR25.30. Earlier in the day, the Al Khodari International Contracting Co. said it completed the liquidatation of its Dubai subsidiary where it owned 49% of the capital amounting to Dhs300,000. The decision to liquidate the Dubai branch was taken in Dec. 2011 and approved then by the firm's shareholders. The Department of Economic Development in Dubai issued the trade license cancellation certificate earlier in the day. Al Khodari International Contracting Co. said the liquidation process had no financial impact. "This liquidation reflects the company's direction to restructure its ownership in subsidiaries outside Saudi Arabia in view of enacting laws that allow the Gulf companies to establish fully owned branches in the GCC countries," added the firm.
Source: AME Info
Psagot acquires Meitav ETFs for NIS 150m
Meitav Index Linked Certificates has NIS 10.2 billion in exchange traded funds assets under management.
February 19, 2013--Psagot Investment House Ltd. has acquired Meitav Investment House Ltd. unit Meitav Index Linked Certificates Ltd. for NIS 150 million.
The deal was made at a company value of NIS 65 million for the unit, plus NIS 85 million in its equity.
Meitav Index Linked Certificates has NIS 10.2 billion in ETF assets under management. The acquisition will double the assets managed by Psagot Exchange Traded Notes Ltd., which controls 30% of the market. The acquisition is subject to regulatory approval.
Source: Globe.com
Depa gains, DP World glues at $13.00-NASDAQ Dubai
February 19, 2013--February 19, 2013--The FTSE NASDAQ Dubai UAE 20 Index closed off 0.06% at 2141.10 Tuesday. .
DP World fell back to $13.00, down 1.52%. Interior design firm Depa Limited jumped 6.04%, finishing at $0.351.
Source: AME Info
Kuwait Stock Exchange unchanged
February 18, 2013--The KSE Market Index closed at 6,405.73 points Monday.
Soor Fuel Marketing Co. gained the most, closing 9.8% higher at KD0.280. Credit Rating and Collection Co. plummeted 8.93% to KD0.051. The KSE trades close to its 12-month high of 6,500 which was hit in May last year.
Source: AME Info
Bank shares lift Bahrain Bourse
February 14, 2013--The Bahrain All-Share Index rose 0.68% to hit 1,091.26 points Thursday.
National Bank of Bahrain or NBB (up 3.45%) and Al Salam Bank Bahrain (3.53% higher) were the most actively traded share. The Islamic Bank announced last Wednesday the successful exit of its "circa £38m (Dhs216.5m) Shari'ah compliant mezzanine facility extended to the refinancing of 5 Canada Square, a landmark commercial Property located in the heart of Canary Wharf, the financial district of London. Al Salam Bahrain also launched mobile banking services earlier in the week. The share gained 120% in value in the last 12 months. Aluminum Bahrain, known as Alba, ended unchanged at BD0.45. Earlier in the day, Alba said it generated a net profit of $257m in 2012, representing a 54% drop year-on-year "driven by lower LME prices and higher energy costs", said Alba.
Source: AME Info
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