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Kuwait's Jazeera Airways advances on green light for rights issue
August 27, 2012--The Kuwait Stock Exchange Market Index gained 0.35% to hit 5,787.19 points Monday.
Shares of Jazeera Airways soared 1.22% to reach KD0.415. On Saturday the budegt carrier said said it had received green light to raise its capital base by 91% to KD42m through a rights issue. The private airliner Jazeera is expected to exercice the right issue at the end of 2012. 200m shares will be allocated to existing shareholders.
DP World closes flat ahead of half-year results
August 27, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed at 1678.81 Monday, off 0.76%, from the previous close.
Dubai Ports (DP) World clsoed unchanged at $10.20. DP World announced earlier in the day half-year financial results will be published Wednesday, August 29.
Abu Dhabi bourse ends 11-day gaining streak
August 27, 2012--The ADX General Index fell 0.44% to 2,589.60 points Monday.
Market heavyweights Aldar Properties (down 1.60%) and telecom giant Etisalat (off 0.52%) were mostly sold. RAK White Cement bucked the trend and gained two percent
Profit booking continues at Dubai market
August 27, 2012--The DFM General Index slipped 0.92% Monday to close at 1,558.83 points.
Bank Emirates NBD fell 3.26% to Dhs2.97. Real estate maintenance specialist Drake and Scull International or DSI dclined 2.10% to Dhs0.891. Earlier in the day, DSI said it decided to postpone its annual general meeting, which was scheduled to be held on August 28, to October 15. Emaar dropped by 1.20% to Dhs3.35. Gulf General Investment Co., known as GGICO, gained the most (up 6.25% at Dhs0.34).
Saudi Arabia sees inflation down to 4.7%
August 27, 2012--Kuwait Finance House (KFH) has said the strong performance of the oil sector in Saudi Arabia is expected to reinforce the growth of the GDP during 2012 to reach 6%, while inflation rate is to drop during the second half to 4.7%, Kuna has reported.
The kingdom’s quarterly GDP growth has eased slightly to 5.9% year-on-year in the first quarter of this year from 7.4% year-on-year in the fourth quarter of 2011, due to a moderate growth in the manufacturing sector. However, the quarterly real GDP growth is still considered robust supported by an expansion in the oil sector, KFH said.
Developers pull down Dubai market
August 26, 2012--Despite positive input from the Saudi bourse (up 1.44% on Saturday), the Dubai Financial Market General Index dipped 0.90% to close at 1,573.30 Sunday.
Emaar Properties, as the most liquid share, fell 1.74% to Dhs3.39. Deyaar Development dived 8.52% to Dhs0.365. The largest lender in the UAE Emirates NBD bucked the trend, adding 1.32% to reach Dhs3.07. Some 107m shares worth Dhs105m changed hands.
Bahrain Tourism Co. leads bourse advances
August 26, 2012--The Bahrain All-Share index added 0.22% Sunday to close at 1,077.70 points.
Bahrain Tourism Co. soared 4.73% to reach BD0.31. Aluminum Bahrain gained 3.75% to close at BD0.498. Ahli United Bank dipped 0.92% to $0.54. With a year-to-date loss of 5.47%, the Manama-based market lags still far behin the other GCC exchanges.
Qatar market breaks through 8,500
August 23, 2012--The QE Index added 0.10% to close at 8,503.64, representing the highest level since May 28.
Qatar Islamic Bank or QIB closed flat at QR7.90. Earlier in the day, ratings agency Fitch affirmed the Shari'ah-compliant bank's 'A' rating. QIB said in a statement to the bourse that "This is testimony to the solidity of the bank overall in what remain uncertain economic conditions worldwide. Fitch also recognises that the Qatari government has a history of both willingness and ability to support its banks, which also has a positive influence on the Bank’s rating."
Abu Dhabi bourse hits to six-month high
August 23, 2012--United Arab Emirates: The ADX General Index rose for the ninth consecutive trading session Thursday, closing a quarter percentage point higher at 2,955.34.
Abu Dhabi Commercial Bank or ADCB and telecom giant Etisalat fuelled the rise, gainig 0.30% and 0.42%, respectively. Real estate merger candidates Aldar Properties and Sorouh Real Estate closed even. Some 32.5m shares worth Dhs41.5m changed hands.
Abu Dhabi bourse hits to six-month high
August 23, 2012--The ADX General Index rose for the ninth consecutive trading session Thursday, closing a quarter percentage point higher at 2,955.34.
Abu Dhabi Commercial Bank or ADCB and telecom giant Etisalat fuelled the rise, gainig 0.30% and 0.42%, respectively. Real estate merger candidates Aldar Properties and Sorouh Real Estate closed even. Some 32.5m shares worth Dhs41.5m changed hands.
