Middle East News Older Than 1 year-If your looking for specific news, using the search function will narrow down the results
Qatar Exchange 20 Index gains the third trading session straight
March 26, 2012--The Doha-based equity gauge increased its level by a quarter percent to close at 8,726.50 points.
Banks ended mixed, as Qatar National Bank (off 0.10%), the country's number one lender, weighed on the gauge, while the second largest bank Commercial Bank of Qatar or CBQ added 0.93%. The Qatar Exchange is on the way to finish the first quarter in the red (0.53% since January 1) unless the Doha bourse can regain territory in the remaining three trading sessions in March.
Real estate shares weigh on Dubai bourse
March 26, 2012--The DFM General Index slipped 0.82% to close at 1,655.46 points, as fund managers start to book profits at the end of a strong first quarter.
Real estate firms Emaar Properties (off one percent), Deyaar Development (down 2.67%) and Union Properties (losing 2.26%) weighed on the gauge. District cooling specialist Tabreed was the most liquid share and jumped two percent. Some 205m shares were traded, valued at Dhs216.5m. Market breadth turned negative as seven shares fell, while 19 declined. Since January 1 2012, the DFMGI gained 22.32%.
Dubai market ends week with a small gain
March 22, 2012--The DFM General Index closed 0.29% higher at 1,660 Thursday, as Emaar found its way back to Dhs3.00, while cooling speacialist Tabreed, as the most liquid share, soared 8.44%.
The UAE's largest lender by assets Emirates NBD aded 0.65%. Earlier in the day, ENBD said in a media release it has mandated Bank of America, Merrill Lynch, Deutsche Bank, Emirates NBD Capital, HSBC and NBAD, as joint lead managers and joint bookrunners for an upcoming US Dollar Regulation transaction, under Emirates NBD’s $7.5bn Euro Medium Term Note Program. Some 266m shares were traded, valued at Dhs342m.
Abu Dhabi listed banks drag equity market down
March 22, 2012--The ADX General Index ended a tricky wekk one percent lower at 2,568.29 points.
The UAE's second lender National Bank of Abu Dhabi dived five percent, while RAK Bank (off 2.90%) and Union National Bank (down 1.50%) also weighed on the gauge. Weaker than expected purchase manager indexes (PMI) in Germany and France triggered selling waves at Western stock markets Thursday. Aviation and maritime leasing specialist Waha Capital was the most liquid share and soared 7.50%. Around 82m shares were traded, valued at DHs95m.
Maritime port operator DP World falls below $11 at NASDAQ Dubai
March 22, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed at 1652.09 today, off 0.29%, from the previous close.
Market bellwether Dubai Ports (DP) World fell 1.80% to $10.90 after a decline in manufacturing Purchasing Manager Indexes in Germany and France triggered fears of new woes for the global economy. On Wednesday, IMG Managing Director Christine Lagarde warned rising tensions between the West and Iran could drive oil prices higher and put the world economy's revovery in danger. Interior designer Depa Limited closed even at $0.45.
TASE Launches 3 New Corporate Bond Indices and Upgrades Bond Index Methodology
March 21, 2012--At its meeting of 1/3/2012, the Tel Aviv Stock Exchange (TASE) Board of Directors approved the launch of three new Tel Bond indices, and amendments in the methodology for calculating corporate bond indices. This was held in order to improve the liquidity of TASE's corporate bonds market.
The new Tel-Bond indices, scheduled for launch on 1 May 2011, are:
Tel Bond CPI Linked Index – comprises all CPI-linked corporate bonds included in the bond index universe, which is being launched under the new methodology.
Tel Bond CPI Linked SmallCap Index– comprised of all CPI-linked bonds included in the bond index universe that are not constituents of the Tel Bond-60 index.
Tel Bond CPI Linked Banks Index - comprised of all CPI-linked corporate bonds issued by banks that are included in the bond index universe.
Dubai market rebounds as U. S. signals some detente towards Iran
March 21, 2012--The DFM General Index rose to 1,655.50 points Wednesday, driven by gains in bellwether Emaar Properties (up 0.67% to Dhs2.99), DFM (2.68% higher) and Tabreed (gaining two percent).
Earlier in they day the U. S. state department declared it exempted 11 states from tough sanctions which would be imposed uopn them, in case they were not reducing oil imports from Iran. The U. S. move slightly reduced the 'fear factor' at Arab and Western markets. Air Arabia fell 0.56%. On Tuesday, Air Arabia CEO Adel Abdullah Ali told Ameinfo.com he was positive about 2012 in relation to passenger figures but added that there was some uncertainty about oil prices. Some 290m shares were traded, valued at Dhs340m.
Abu Dhabi exchange adds slightly amid lacklustre trading
March 21, 2012--The ADX General Index advanced a by a quarter percent to close at 2,593.25.
Telco giant Etisalat closed even. Earlier in the day, the annual general meeting approved the distribution of dividends of 35% of the nominal value of the share. First Gulf Bank and Abu Dhabi Commercial Bank regained some territory, while Sorouh Real Estate, as the most liqud share fell 2.30%. Some 56.1m shares were traded, valued at Dhs90.2m.
Kuwait bourse gains, after EFG Hermes said 7,000 points-lvel is possible in medium-term
March 21, 2012--The Kuwait Stock Exchange (KSE) Market Index closed 0.33% to reach 6,249.4 points, as shares gained across the board.
Investmentbank EFG Hermes said Tuesday, "We continue to hold the 6540 +/- [new 52 week high] as medium term forecast with potential hike towards the 7000 mark." Dubai-based Emirates NBD's CIO Private Banking Gary Dugan said in his weekly commentary, investors shall "enjoy the rally as long as it lasts." Year-to-date, the KSE has gained 7.50%.
Batelco, Al Baraka Banking Group push higher at Bahrain Bourse
March 21, 2012--The Bahrain All Share Index closed 0.06% higher at 1,147.65 points Wednesday.
Islamic bank Al Baraka Banking Group advanced 1.90%, while Bahrain Telecom or Batelco added half a percent. Earlier in the day Al Baraka announced its Annual General Meeting of Al Baraka Banking Group approves cash dividend payouts and bonus shares to shareholders of $175.36m. Shares of Aluminium Bahrain slipped 0.90%, weighing on the Manama-based gauge.
