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Improved real estate prospects lift Emaar, Dubai market
September 3, 2012--The DFMGI closed 0.13% higher at 1,547.66 points Monday.
Ajmanbank, an Islamic financial institutional from the same named emirate, gained the most, ending up 6.25% at Dhs0.85. Emaar edged up by 0.30% to hit Dhs3.29. Nees that Dubai Properties Group will finish a 348-villa and townhouses complex in Dubailand's Mudon development lifted the sentiment for developers. Trading turnover was low as international investors
Bahrain Bourse fails to extend rebound
September 3, 2012--Despite some sign of a stabilisation, the Bahrain All-Share Index fell by 0.45% to 1,072.37 points Monday.
Bahrain Kuwait Insurance lost the most, heading down 9.90% to BD0.50. Islamic bank Ithmaar was the only gaining stock (up six percent at $0.175). Islamic investment bank Gulf Finance House or GFH ended even at $0.185. Earlier in the day, GFH clearified statements its Acting CEO gave in an interview to Bahrain's Al Belad Newspaper. GFH confrmed in a letter to the Bahrain Bourse that it aims to acquire larger stakes in companies in which GFH is a shareholder. In addition, GFH said it is interested in investing in asset management and real estate firms.
Egypt to allow foreign investment in Sinai Peninsula
August 31, 2012--Egypt's legal affairs minister Mohamed Mahsoub has said the cabinet has agreed to allow foreigners to invest in the Sinai Peninsula, Ahram has reported.
Foreign investors, however, will only be allowed to hold a maximum 45% stake in any Sinai-based venture, Mahsoub said. And while foreigners still can’t fully own assets in Sinai, they can obtain concession contracts from the government, he added. "The decision will revive investment in the region, which declined markedly following the revolution," said Sami Soliman, head of the Taba-Nuweiba Investors Association. "Especially since local banks aren't keen to provide financing for projects in Sinai."
Egyptian stocks recover lost ground
August 31, 2012--Egypt's stock market has bounced back from last year's political turmoil, rising at a rate that has piqued the interest of foreign investors and reinforced optimism about the country's financial future.
In fits and starts, the benchmark EGX 30 has grown 45 per cent this year, winning back some of the heavy losses sustained after the revolution. The only stock market worldwide that has outperformed it has been Venezuela’s, which has leapt 151 per cent.
Lenders lift Bahrain Bourse
August 30, 2012--The Bahrain All-Share Index posted the largest increase in the GCC Thursday, advancing 0.80% to reach 1,086.32 points.
National Bank of Bahrain (NBB) soared six percent to hit BD0.535. Bank of Bahrain and Kuwait or BBK hit a one-month high at BD0.40 (4.71% higher). Islamic investment bank Ithmaar dived 2.94% to $0.165.
Taqa bucks downtrend, Abu Dhabi developers trade steady
August 30, 2012--The Abu Dhabi market measure fell 0.51% to 2,561.61 points Thursday.
Abu Dhabi National Energy Co., known as Taqa, was one of the three gaining securities (up 0.77% at Dhs1.32). Aldar Properties, Sorouh Real Estate and RAK Properties finished trading unchanged.
Qtel retires $3bn loan, shares advance
August 30, 2012--The QE 20 Index advanced half a percentage point to reach 8,483.64 points Thursday.
Qatar Telecom or Qtel gained 1.32% to hit QR107.90. Earlier in the day, Qtel said has retired its $3.0 billion syndicated term loan facility. Existing funds were used to repay the facility.
DP World shares continue to trade in yo-yo mode
August 30, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed at 1653.30, off 0.73%, from the previous close.
DP World failed to extend the rebound from Wednesday which happened as a reaction on positive half-year results. DP World fell Thursday back to $10.20 (off 1.10%).
Dubai market fails to find ground
August 30, 2012--The DFM General Index fell half a percentage point to 1,547.82 points Thursday.
During the last week of August, the gauge lost 2.5% as investors started to cash in on the summer rally. EFG Hermes correctly anticipated that "some sideways trading is still expected around that index suport zone of 1,540 - 1,530 before a reliable rebound occurs." Emaar fell 0.90% today, while Takaful Emarat gained the most (up 5.41%).
Lenders lift Bahrain Bourse
August 30, 2012--The Bahrain All-Share Index posted the largest increase in the GCC Thursday, advancing 0.80% to reach 1,086.32 points.
National Bank of Bahrain (NBB) soared six percent to hit BD0.535. Bank of Bahrain and Kuwait or BBK hit a one-month high at BD0.40 (4.71% higher). Islamic investment bank Ithmaar dived 2.94% to $0.165. [AMEInfo.com]
