Middle East ETF News Older than One Year
Saudi Kayan Petrochem losses rise 3-fold
February 12, 2013--The Tadawul All-Share Index advanced 0.40% to reach 7,057.19.
Shares of Saudi Kayan Petrochemical Company ended down 0.43% at SR11.65. Earlier in the day, Saudi Kayan said its net loss in 2012 increased 208.6% to SR772.27m compared to SR250.25m for the previous year. The company did not elaborate. Shares of market bellwether Sabic, the world's largest petrochemicals producer, rose 0.54% to hit SR93.50.
Source: AME Info
Moody's cuts Egypt rating
February 12, 2013--Ratings agency Moody's has cut the credit rating of Egypt to B3, over doubts about its ability to secure International Monetary Fund support and the economic impact of a new round of political unrest, Reuters has reported.
The rating agency also cited a further weakening in Egypt's external payments position given a large drop in foreign exchange reserves in January as the country battles to stave off a currency crisis.
Source: AME Info
Barhain market index pinned down at 1,085
February 12, 2013--The Bahrain All-Share Index closed 0.06% lower at 1,085.37 Tuesday.
Nass Corp., a construction solutions provider, gained the most (up 1.33% at BD0.152). Ithmaar Bank fell 2.86% to $0.17.
Source: AME Info
Investors hail KSA's Aslak profit increase
February 11, 2013--The Tadawul All-Share Index rose 0.27% to close at 7,030.78 Monday.
Sabic gained a quarter percentage point, finishing at SR93. United Wire Factories Company, known as Aslak, increased its value by 0.51% to reach SR39.30. Earlier in the day, Aslak said the net income for the year ended December 31, 2012 was SR115.4m, representing an increase of 8% year on year. "Net income for year 2012 increased compared to year 2011 due to the decrease of the raw material prices during the fourth quarter compared to the same period of the last year," said Aslak in a statement ot the Saudi Stock Exchange.
Source: AME Info
Alba, Bahrain Duty Free stabilise Manama market
February 11, 2013--The Bahrain All-Share Index closed 0.04% higher at 1,085.98 points.
Bahrain Duty Free Shop Complex edged up by 1.18% to reach BD0.86. Shares of Aluminum Bahrain advanced 0.45%, closing at BD0.45. Islamic investment bank Gulf Finance House, known as GFH, finished flat at $0.12. Earlier in the day, GFH said it was declared the winner of the "Best Islamic Investment Bank in Bahrain in 2012", at the prestigious CFI.co Awards, announced recently on January 2013.
Source: AME Info
Egypt inflation rises most in two years
February 10, 2013--According to Egypt's Central Agency for Public Mobilisation and Statistics, the country's consumer prices posted the biggest increase last month in more than two years after the pound weakened to a record and foreign reserves slid, Bloomberg has reported.
Prices rose 1.7%, compared with 0.2% in the previous month, while the annual rate climbed to 6.3% from 4.7%, the data showed. The pound has weakened 7.8% against the dollar since December 30, as the central bank started capping the amount of dollars each lender can buy at currency auctions. The regulator said the policy seeks to conserve reserves, which have plunged more than 60% since the revolt to $13.6bn last month.
Source: AME Info
Egypt: Finance Minister: Egypt Keen On Resolving Foreign Investors Problems
February 7, 2013--Finance Minister el-Morsi Hegazi said on Wednesday 6/2/2013 the government is keen on resolving any problem facing foreign investors in the country as long as they abide by the Egyptian law.
During a meeting with Mexican Undersecretary of Foreign Affairs Carlos de Icaza and Ambassador to Egypt Maria Carmen, Hegazi said the government is well aware that the recent incidents of unrest - during the second anniversary of the January 25 revolution - affect economic conditions, foreign investments and Egypt's trade relations with world countries.
Source: allAfrica.com
Depa bounces back at NASDAQ Dubai
February 7, 2013--The FTSE NASDAQ Dubai UAE 20 Index closed unchanged at 2,095.28, so did the shares of Dubai Ports (DP) World (flat at $13).
Interior design giant Depa Ltd. jumped 4.55% to finish at $0.345.
Source: AME Info
Qatar's UDC with lower net profit, shares dip
February 7, 2013--The QE 20 Index closed 0.13% at 8,757.59 points.
Over the week, the Doha-based market measure edged up by 0.37%. United Development Company or UDC, the real estate firm behind the man-made The Pearl Qatar declined 1.66% to QR17.80. Earlier in the day, UDC said its net profit in 2012 fell to QR730.3m, down from QR3.7bn. The shares of Qatar Electricity and Water declined 0.66% and finished at QR141.40. The utility giant said its 2012 net profit rose to QR1.436bn up from QR1.299bn. The company’s EPS amounted to QR14.36 in 2012 compared to QR 13.0 in 2011. The company’s board said it recommends the distribution of a 73% cash dividends of the share’s par value or QR7.3 per share).
Source: AME Info
Eshraq consolidates above alltime-high
February 7, 2013--The ADX General Index gained 0.38% to hit 2,908.77 points.
During the first week of Feb., the gauge surged by 2.2%. Eshraq Properties advanced the most, closing up 5.45% at Dhs0.58. Arkan Building Materials posted the largest decline, ending off 2.70% at Dhs0.72.
Source: AME Info
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