Middle East ETF News Older than One Year
SABB HSBC Saudi Arabia PMI(TM)-PMI signals continued improvement in business conditions
September 3, 2012--Summary
The Saudi British Bank "SABB" has published the results of the headline SABB HSBC Saudi Arabia
Purchasing Managers' Index(PMI(TM)) for August 2012- a monthly report issued by the bank and HSBC. It reflects the economic performance of
Saudi Arabian non-oil producing private sector companies through the monitoring of a number of
variables, including output, orders, prices, stocks and employment.
At 58.3 in August, up fractionally from 58.1 in July, the seasonally adjusted PMI index pointed to another robust improvement in business conditions facing nonoil private sector companies operating in Saudi Arabia. Behind the slight uptick in the headline number was a more marked increase in incoming new business, which anecdotal evidence attributed to a range of factors including greater sales and marketing efforts and improving market conditions. In addition, a number of firms also linked higher intakes of new work to increased construction activity. New work from foreign clients also increased during August, though the rate of growth was at a 21-month low.
Source: Markit
Sabic shares weigh on Tadawul All-Share Index
September 3, 2012--Despite a balanced advance-decline ration, the Saudi market measure Tasi fell by another 0.20% to 7,078.53 points.
Saudi Basic Industries Corporation, the world's largest petrochemical producer known as Sabic, declined 0.82% to SR90.50. As it occured many times in the last days of trading, an insurer gained the most. Gulf General Cooperative Insurance Company jumped 9.90% to hit SR61.25.
Source: AME Info
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.
Source: AME Info
Qatar Exchange adds slightly
September 3, 2012--The QE Index gained 0.10% Monday to reach 8,462.60 points.
Al Meera Consumer Goods Co. declined 0.60% to QR166. Earlier in the day Al Meera announced the that due to the lack of quorum of the Extra Ordinary General Assembly Meetingwill be held after the expiration of 30 days from September 2 2012. The new date will be announced later.
Source: AME Info
Etisalat on the verge to reach new 2012-high
September 3, 2012--The ADX General Index closed unchanged at 2,556.82 points amid an overall lacklustre trading.
Market bellwether Etisalat added slightly to reach Dhs9.54. The old 2012-high from June 26 lies as Dhs9.56. Developers Aldar Properties and Sorouh Real Estate, which are both in talks to merge, fell by 0.82% and 0.91%, respectively. Only 24.8m shares were traded valued at Dhs59.3m.
Source: AME Info
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
Source: AME Info
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.
Source: AME Info
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."
Source: AME Info
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.
Source: FT.com
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.
Source: AME Info
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
