Middle East ETF News Older than One Year
Upward trend intact at Saudi bourse
December 12, 2012--The Riyadh-based Tadawul All-Share ended up 0.10% to hit 6,769.96.
SABIC gained 0.30%, ending at SR90.75. Earlier in the day, OPEC ministers decided at their meeting in Vienna to keep output quota even at 30 million barrels per day, sending oil prices 0.30% to reach $104.71 (DME Oman crude). Saudi Arabia pressed oil production down to the lowest level in 12 months in order to compensate pressure on prices from the U. S. which continues to step domestic oil production. Earlier in the day, Angus Blair, president of Signet Institute, a think-tank dedicated to the MENA region, said at the Euromoney Qatar summit in Doha that the GCC shall not worry about the U. S.'s alleged way to oil-independence which the International Energy Agency expects to happen by 2020. "Demand from the emerging markets in East Asia and Africa will continue to rise and both regions have no real alternative than importing oil from the Middle East" said Blair.
Source: AMEInfo.com
Saudi Arabia's Abdullah A. M. Al-Khodari Sons lures new contract
December 11, 2012--The Riyadh-based Tadawul All-Share Index ended up 0.31% at 6,736.12 points Tuesday, defying the ongoing oil price decline (off $0.28 at $104.32 (DME Oman crude).
SABIC, the world's number one in petrochemical production, closed unchanged at SR90.50. Shares of construction and maintenance company Abdullah A. M. Al-Khodari Sons advanced 1.16% to reach SR26.20. Earlier in the day, the firm announced signing of a contract with the Ministry of Municipal & Rural Affairs for city cleaning and waste collection in Jeddah (Area 6) within a period of 60 Months from the date of site handing over. The contract is valued at SR239.784m.
Source: AME Info
Composition of TASE Equity Indices as of December 16th, 2012
December 10, 2012--As of December 16th, 2012 the composition of the equity indices will be updated
Source: TASE
Tadawul year-end rally halted
December 10, 2012--The Tadawul All-Share Index ended a three-day gaining streak Monday, closing off 0.61 at 6,741.93 as market breadth turned deeply into the red.
SABIC slipped 0.55% to SR90.50. Wafa Insurance Saudi Indian Company for Co-operative Insurance, also known as WAFA Insurance, posted the largest gain, ending up 9.80% at SR61.75.
Source: AME Info
Egypt inflation retreats to 4.1%
December 10, 2012--According to data released by the Egyptian government, the country's annual inflation has dropped to 4.1% in November, its lowest level since March 2006, mainly due to a significant slowdown in the growth rate of food prices, Ahram has reported.
Prices of food and drink, which have the highest weight in the consumer price index, grew 5.3% in comparison to November 2011 but dropped a sharp 2.7% below October 2012's figures.
Source: AME Info
Batelco gains as partnership with Omantel bears new fruit
December 10, 2012--The Manama-based Bahrain All-Share Index added 0.15% to reach 1,045.27 Monday.
Bahrain Telecom or Batelco edged 0.50% higher, closing at BD0.404. On Saturday, Batelco said it launch of MPLS IP VPN interconnectivity on the basis of its ongoing partnership with Omantel. With end-to-end MPLS VPN services, Bahrain and Oman-based businesses are able to establish secure inter-office connectivity between both locations.
Source: AMEInfo.com
Industrials, consumers lift Kuwait market
December 9, 2012--The KSE Market Index closed half a percentage point higher at 5,907.21 Sunday.
Equipment Holding gained the most, closing 8.93% higher at KD0.122. Kuwait Cable Vision fell the most, ending off 7% at KD0.0265.
Source: AME Info
DP World falls the third day straight
December 6, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed at 1793.41 Thursday, down 0.18%.
DP World was the only share traded and fell for the third consecutive trading session, finishing off 0.8% at $12.15.
Source: AME Info
Qatari shares gain across the board
December 6, 2012--The QE Index gained 0.30% to reach 8,360.30 Thursday.
All sector indices except transports landed in the green. Since May 13, the gauge has been trading in a range between 8,130 to 8,530 points. Dlala Real-estate Company, a wholly owned subsidiary of Dlala Brokerage and Investment Holding (down 2.70% at QR34.60) said earlier in the day t has bought a land plot in Al-Wakeer area and in um Qurn area for the purpose investment and development.
Source: AME Info
Taqa gains on bond issuances
December 6, 2012--The Abu Dhabi market measure ADXGI closed Thursday trading 0.10% lower at 2,674.21 points, mainly on small losses at the UAE's first telecom firm Etisalat and in the banking sector.
Abu Dhabi National Energy Co. or Taqa advanced 0.77% to reach Dhs1.31. Earlier in the day, Taqa said it has finalized the issuance of $750m senior notes at 2.50% and due in Jan. 2018, and $750 senior (3.625%; Jan. 2023). The proceeds will be used to settle debt payments and for general business purposes. Last week, Taqa expanded its operations in the North Sea by buying assets from BP for more than $1bn.
Source: AME Info
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