Middle East ETF News Older than One Year
Taqa gains, reports 146% third quarter net profit increase
November 15, 2011--The ADX General Index diped 0.27% to 2,480.07 points. Abu Dhabi National Energy Co. or Taqa gained 0.85% to reach Dhs1.19.
Earlier in the day Taqa reported that its third quarter net profit before minority interests of Dhs537m, a 146% increase compared to the corresponding period in 2010. Etisalat was the most liquid share and added Dhs0.01, closing at Dhs9.99. Earlier in the day Etisalat said it appointed Ahmed Alawadi as Acting Chief Financial Officer.
Source: AME Info
Dubai market closes unchanged
November 15, 2011--The Dubai Financial Market (DFM) closed at 1,388.23 points on Tuesday. Arabtec, Emaar and Aramex endd likewise flat.
Unionen Properties and the DFM weighed on the market, declining by one per cent and 0.68%, respectively, in a lacklustre trading session. Some 35.6m shares were traded, valued at Dhs38.8m.
Source: AME Info
Dubai's October inflation reaches three month high
November 15, 2011--According to data by the Dubai Statistics Centre, the emirate’s annual inflation rate rose to a three-month high of 0.3% in October as food prices climbed, but analysts said inflationary pressure remained modest, Reuters has reported.
"It's another very weak print. Growth may have picked up a little this year, but domestic demand is still pretty subdued and there is still a lot of spare capacity in the economy, particularly in the real estate sector," said Simon Williams, chief economist for the Middle East and North Africa at HSBC.
Source: AME Info
National Bank of Kuwait reaches five-month high
November 14, 2011--The KSE Market Index closed unchanged at 5,870.4 points. The country's largest lender National Bank of Kuwait or NBK gained 1.72% and closed at KD1.180,
the highest value since June 27. Gulf Investment House dived 10% to KD0.022, finishing as the top loser.
Source: AME Info
Tadawul bourse declines slightly amid lower oil prices
November 14, 2011--The Saudi Tadawul index fell by 0.31% Monday, closing at 6,238.02, as Sabic shares ended 0.25% lower at SR96.50.
Shares of ACE Arabia Cooperative Insurance Co. jumped 10% to reach SR55.00. Continuing worries over the development in Greece and Italy, where two new governments were sworn in, along with declining oil prices (off 0.75% at $98.25 (U$ Crude)). Forty-five shares gained, 74 fell and 26 closed even.
Source: AME Info
Qatar Exchange Index approaches 8,800 points
November 14, 2011--The QE Index added 0.25% to reach 8,764.56 points. Qatar National Bank gained further, closing 0.86% to reach QR152.30.
According to media reports, Qatar Airways is set to announced a major order worth billions of dollar for Airbus planes at teh Dubai Airshow.
Source: AME Info
Abu Dhabi market stuck in a stutter mode
November 14, 2011--The ADX General Index diped 0.22% to 2,486.83 points. Sharjah-based Dana Gas gained 1.82%, closing at Dhs0.56. National Takaful Co. or Watania closed at Dhs0.32 on its first day of listing.
It is the 10th Takaful Company to be listed on local stock markets in the UAE. The listing successfully completes its Initial Public Offering (IPO) of Dhs82.5m which was oversubscribed 7-fold to Dhs620m when it was launched in May this year.
Source: AME Info
Shuaa shares rise, as investment bank delays Q3 results
November 14, 2011--The DFM General Index declined 0.35% to 1,387.81 points, mainly because European markets performed lower after EU commissioner Mario Monti followed Silvio Berlusconi as Italy's prime minister.
Dubai-based investment bank Shuaa Capital rose 0.68% to reach Dhs0.745. Earlier in the day, Shuaa said it will delay publishing results for the third quarter because its new CEO Michael Philipp needs more time to study the figures. Emaar ended flat while Arabtec, the most liquid share, fell 0.72% to Dhs1.38. Some 29.3m shares were traded, valued at Dhs31.9m.
Source:AME Info
Egypt relaxes Nilex rules and regulations
November 14, 2011, 2:04:12 AM
Egypt: The Egyptian Financial Supervisory Authority (EFSA) has eased the rules and regulations for small and mid-cap investments on the Nile Stock Exchange (Nilex), the region's first stock exchange for small and medium enterprises, the Daily News Egypt has reported.
"We are preparing the market for what's ahead," said Ashraf El Sharkawi, head of EFSA. Companies who wish to be part of the new Nilex trading system for SMEs will not need a minimum capital requirement, with the maximum ceiling set at EGP50m. When it first launched, companies had to have a capital of at least EGP500,000 and a maximum of EGP25m.
Source: AME Info
Kuwait market underperforms despite rise in oil prices
November 13, 2011--Kuwait: Although US crude oil prices rose to almost $100 per barrel, the KSE Market Index dipped 0.71% to 5,868.5 points.
The northern Gulf state's largest lender in relations to assets and market value National Bank of Kuwait, known as NBK, lost 1.71%, closing at KD1.140. Oil prices rose by 17% during the last four weeks. Kuwait generates 95% of its budget from oil exports. [AMEInfo.com]
Source: AME Info
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