Middle East ETF News Older than One Year
Investors fail to honour Arabtec'sDhs561m Dubai airport award
January 04, 2012--The Dubai Financial Market (DFM) General Index fell 0.30%, closing at 1,346.60 points.
Shares of Arabtec Construction ended 1.82% lower at Dhs1.62. Earlier in the day, Arabtec said it has received a letter of award from Dubai Aviation City Corporation (DACC) to carry out expansion works at Dubai International Airport's Terminal2 (Phase 3), worth Dhs561m. The project's duration is 25 months. Emaar Properties ended off 0.78% at Dhs2.53. Islamic real estate company Deyaar Development rebounded 2.36% to reach Dhs0.217. The share lost around 30% of its value last year. Some 36.3m shares were traded, valued at Dhs42.4m.
Source: AME Info
NASDAQ Dubai bellwethers end roller-coaster day in the green
January 04, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed flat at 1378.930 Wednesday. Dubai Ports (DP) World gained 1.52% to close at $10.00.
Jewelry trader Damas International soared 13%, closing at $0.26. Both aforementioned shares started the day deeply in the red but eventually rebounded, albeit amid low trading volumes. Depa, the Dubai-based interior designer who created the interior decoration in the seven-stars hotel Burj al Arab as well as in the 828 meters tall Burj Khalifa, closed even at $0.42.
Source: AME Info
Banks lift Bahrain Bourse slightly
January 04, 2012--Bahrain: The Bahrain All Share Index added 0.13% to reach 1,136.08 points. Islamic financial institution Ithmaar Bank surged 7.69%, ending at $0.07.
Telecom heavyweight Bahrain Telecom or Batelco saw its shares closing unchanged at BD0.394. Commercial bank and wealth manager BBK advanced one per cent, finishing like Batelco at BD0.394.
Source: AME Info
Etisalat, Taqa help Abu Dhabi bourse to rebound
January 03, 2012--The ADX General Index advanced half a per cent to reach 2,408.49 points, as bellwether Etisalat, the UAE's first telecom provider, gained 1.75% (closing at Dhs9.28).
Abu Dhabi National Energy Co., known as Taqa (up 1.69% at Dhs1.20) also helped the sentiment to improve. Around 39m shares were traded, valued at Dhs44m.
Source: AME Info
Qatar Exchange gains as banks prepare for annual reporting
January 03, 2012--Amid rising trading turnover, the Doha-based QE Index closed one per cent higher at 8,880.43 points, as stock gained across the board. Doha Bank surged 2.33%, while the country's largest lender
Qatar National Bank added 1.60%. According to Dr. Giyas Gokkent, Chief Economist and Head of Research at National Bank of Abu Dhabi, Qatari banks continue to grow in the personal loan segment. Personal loans grew 8% month-on-month last November and 25.7% year-on-year. Meanwhile, a number of lender announced board meetings scheduled for January in order to discuss the financial statements of 2011.
Source: AME Info
Damas, DP World shine at NASDAQ Dubai
January 03, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed 1.18% higher at 1,378.52 today.
Bellwether shares Dubai Ports (DP) World advanced 1.44% to reach $9.85, while Damas Jewellery surged four per cent, closing at $0.23. Dubai-based Damas has gained 50% in value since November 15 2011. Interior designer Depa Ltd. ended flat at $0.42. Some 1.13m shares changed hands at the NASDAQ Dubai, the Middle East's only capital market by international standards.
Source: AME Info
Dubai total trade with the world exceeds Dhs814bn at the end of 3rd Q 2011
January 03, 2012--United Arab Emirates: Dubai's non-oil total trade, which includes direct trade, free zone trade, and customs warehouse trade, exceeded Dhs814bn at the end of third
quarter in 2011, an increase by 23% compared to the same period of 2010 which reached Dhs661bn. [AMEInfo.com]
Source: AME Info
Oil prices, reform policy help Saudi Stock Exchange to advance
January 03, 2012--Saudi Arabia: The Riyadh-based Tadawul market surged a quarter per cent to reach 6,413.88 points. Arriyadh Development Co., a developer of of commercial , office and residential buildings, facilities and service buildings, posted the largest advance (up 5.78% at SR23.80).
Sabic gained half a per cent, reaching SR96.75. Rising oil prices (up 1.90% (U. S. crude)) along with the new economic reform policy of HH King Abdullah Bin Abdulaziz Al-Saud, Custodian of the Two Holy Mosques, fuel the Saudi market's recovery. The Tadawul insurance sector, which gained significantly in recent weeks, posted losses today, as investors booked profits here and there. Gulf General Cooperative Insurance Company fell 3.19% to SR39.40.
Source: AME Info
Kuwait Stock Exchange dips, as inflation declines
January 03, 2012--Kuwait: Losses in the industry and insurance sector dragged the KSE Market Index down by 0.20% to 5,780.9 points. National Bank of Kuwait or NBK closed even at KD1.100. Telecom operator Zain declined 1.12% to KD0.880.
Logistics specialist Agility ended 1.35% higher at KD0.375. According to National Bank of Abu Dhabi, the General Consumer Price Index in Kuwait fell in November 2011 to 4.16% from 4.82% the month before. The IMF expects consumer price inflation in the northern Gulf state to decline to 3.4% in 2012 from 6.2% last year due to a decline in global oil demand.
Source: AME Info
Kuwait inflation slows to 16-month low
January 03, 2012--Kuwait's annual inflation slowed to a 16-month low of 4.2% in November with prices unchanged from the previous month, and analysts expect price growth to remain at around current levels in the coming months, Reuters has reported.
"It is along the lines of expectations. We had an inflationary impulse earlier last year partly because of the global commodity prices, especially food prices, partly because of the increased government spending," said Jarmo Kotilaine, chief economist at National Commercial Bank in Jeddah. "Much of that impulse has already worked itself into the system and there has not really been anything new to push up the rate of price increases," he said.
Source: AME Info
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