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Qatar bourse defends its year-to-date advance
December 07, 2011--The Qatar Exchange gained 0.34%, reaching 8,779.20, as shares advanced across the board. Qatar Islamic Bank added 1.43% as the deadline for conventional to give up
their Islamic window approaches. General Insurance jumped 7.82%, finishing at QR51. Year-to-date, the QE Index advanced by 1.12%.
Bahrain Bourse stabilises on a low level
December 07, 2011--The Bahrain All Share Index (BASI) in Manama gained 0.10% to close at . Shares of Aluminium Bahrain, known as Alba, posted the largest advance, ending 0.90% higher at BD0.555. Bahrain Telecom or Batelco declined half a per cent to BD0.392. Year-to-date the BASI has lost a fith of its value.
Bahrain still suffers from the unrest in February/March, but the government has taken steps to ease tensions and to punish those security personel which are responsible for killings of demonstrators. Only a quarter of Bahrain's hotel rooms are occupied.
Petrochem advances, completes polymers construction work
December 07, 2011--The Saudi Arabian Tadawul market advanced half a per cent Wednesday, closing at 6,251.92 points. Sabic surged to SR96.50 (up 0.78%). Sabic's competitor National Petrochemical Company (gaining 0.62% at SR22.15) or Petrochem announced today its joint venture project, the Saudi Polymers Company,
has finalized all construction work. "This project which is located in Jubail Industrial City, is owned 65% by Petrochem and 35% by Arabian Chevron Phillips Petrochemical Company Limited," Petrochem said in a statement. Production in the plant is expected to commence in the first quarter of 2012.
Bahrain Bourse stabilises on a low level
December 07, 2011--The Bahrain All Share Index (BASI) in Manama gained 0.10% to close at . Shares of Aluminium Bahrain, known as Alba, posted the largest advance, ending 0.90% higher at BD0.555.
Bahrain Telecom or Batelco declined half a per cent to BD0.392. Year-to-date the BASI has lost a fith of its value. Bahrain still suffers from the unrest in February/March, but the government has taken steps to ease tensions and to punish those security personel which are responsible for killings of demonstrators. Only a quarter of Bahrain's hotel rooms are occupied.
Abu Dhabi National Energy gains on bond issuances
December 06, 2011--The Abu Dhabi bourse ADX declined 0.80%, closing at 2,450.96 points. Aldar Properties dipped one per cent to Dhs0.99.
Shares of Abu Dhabi National Energy or Taqa advanced by 0.83% to reach Dhs1.21. Earlier in the day Taqa said it has finalized the issuance of 10-year $750m, 4.125% senior notes and 10-year $750m senior notes with a 5.875%.
Dubai stock market forced back to 1,382 points
December 06, 2011--The DFM General Index lost 1.18% Tuesday. Emaar plummeted 3.55% to Dhs2.72. Gulf General Investment Company gained the most, ending 4.55% to reach Dhs0.23.
Construction and maintenance company Drake and Scull International (DSI) ended 1.70% lower at Dhs0.81. Earlier in the day DSI said it signed today a Dhs352m contract to execute a commercial development project in Riyadh which takes the total value of awarded projects in Saudi to Dhs2.4bn year to date.
Qatar Exchange declined 0.36% to 8,749.54 points
December 06, 2011--The Qatar Market remained in a stutter mode Tuesday, as investors booked profits in bank and industry shares.
Qatar National Bank declined 1.12% to QR150.30. Islamic Insurance bucked the trend and gained one per cent to reach QR61.20
DGCX November volumes rise 121 % year-on-year to reach 423,945 contracts
December 6, 2011--Year-to-date (YTD) volume stands at 3,629,409 contracts, a 106 % increase on 2010
Average daily volume in November stands at 19,270 contracts, a 101% rise on last year
November volumes on the Dubai Gold and Commodities Exchange (DGCX) grew 121 % year-on-year to reach 423,945 contracts, valued at US$ 17.15 billion. Year-to-date volume in 2011 also increased 106% on 2010 levels to reach 3,629,409 contracts valued at US$ 169 billion.
Emirates NBD soars, starts to integrate Dubai Bank with appointments
December 5, 2011--Dubai's local bourse DFM Dubai failed to sustain the solid advance it achieved Sunday. The DFM General Index declined 0.35% and stopped at 1,399.45.
Investors booked profits at Emaar (off 1.40% at Dhs2.82) and Union Properties (down two per cent at Dhs0.283). Emirates NBD or ENBD, the UAE's largest bank, gained 2.78% to reach Dhs3.33. Earlier in the day ENBD announced it has appointed Giel-Jan Van Der Tol as Group Head of Wholesale Banking. Giel-Jan previously served as the CEO of Dubai Bank, Emirates NBD’s fully owned subsidiary. ENDB took over the Islamic bank Dubai Bank from the Dubai government in mid-October. It also announced today that Mr. Douwe Oppedijk has joined as the new interim CEO of Dubai Bank. "Douwe previously served as the CEO of Commercial Bank International, and has 28 years of experience managing financial organizations," ENBD said in an e-mailed statement. Some 85m shares were traded, valued at Dhs100.4m.
Abu Dhabi market ADX declines slightly
December 05, 2011--The ADX General Index ended 0.10% lower at 2,470.52 points. Developers Aldar Properties and Sorouh Real Estate,
along with RAK Properties and Dana Gas closed unchanged. Finance House posted the largest increase closing 7.69% higher at Dhs3.50.
