Middle East ETF News Older than One Year
EGX launches NILEX new trading system on 13 November 2011
November 16, 2011--The Egyptian Exchange (EGX) celebrated the launch of NILEX new trading system with a "Ringing of Bell Ceremony" on Sunday 13th of November 2011. EGX's Chairman, Dr. Mohammad Omran, announced that the trading system applied in the main market will be applied to NILEX from this day onwards.
He also stated that the coming period will witness some activities in this market for the benefit of the investor among which are;
Handing the Nominated Advisors file to The Egyptian Exchange from EFSA
Disclosing NILEX companies' financials on regular bases through its website and through media channels. That will help investors taking their investment decisions.
Initiating cooperation with institutions that will help in the growth of this market i.e. ITIDA & IDC through attracting new companies to get listed.
Source: WFE
Lacklustre Saudi Stock Exchange dips 0.16%
November 15, 2011--The Tadawul bourse's benchmark index ended off 0.16% Tuesday, closing at 6,227.79 points. Sabic, the petrochemical and metals producer ended 0.78% lower at SR96.75.
Shares of Al-Rajhi Company for Cooperative Insurance finished even at SR56.25. Earlier in the day, Al-Rajhi announced the receipt of the Saudi Arabian Monetary Agency's acceptance of temporary approval for Personal Accident Group Takaful Product on Tuesday for six months.
Source: AME Info
Qatari investors book profits, prevent indes from breaking through 8,800
November 15, 2011--The QE Index slipped by a quarter per cent, closing at 8,743 points. Shares of the country's first telco operator Qatar Telecom or Qtel fell by 0.34%, finishing at QR146.50.
Earlier in the day Qtel announced that its subsidiary Indosat, the Indonesian telecommunications company, signed "an exclusive non-binding memorandum of understanding (“Non-binding MOU”) with PT Tower Bersama Infrastructure Tbk. (“Tower Bersama”) to negotiate a proposed transaction involving the sale of a portion of Indosat’s existing tower assets and the lease of certain site space thereon." Real estate firm United Development Company outperformed the market by gaining 2.17% to reach QR12.65.
Source: AME Info
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
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