Middle East ETF News Older than One Year
Kuwait bourse adds a quarter percent
June 15, 2011--The KSE Market Index was lifted to 6,346 points despite new politcal uncertainty hitting the northern gulf state.
Prime Minister Shekh Nasser Al-Sabah is confronted with a second no co-operation motion this year on accuations by lawyers and member of parliament the government was actoing in favour of Iran. United Foddstuff Industries Group surged 19% to KD0.305.
Source: AME Info
DP World stabilise amid low trading volumes
June 15, 2011--FTSE NASDAQ Dubai UAE 20 Index closed at 1717.650 today, up 38.78 points, or 2.31%, from the previous close.
Shares of global maritime port operator DP World finished at $12.54 while Depa Ltd. ended unchanged at $0.51.
Source: AME Info
Aldar shares jump three percent as Abu Dhabi investors cheer
July 15, 2011--The ADX General Index added 1.18%, closing at 2,743.64 points.
All sector indices landed in the green except consumer staples. Aldar finished at Dhs1.40 (up 2.99%) but energy heavyweight Dana Gas failed to jump on the bandwagon while ending flat at Dhs0.63. Nineteen shares gained, three lost and seven closed even.
Source: AME Info
Tadawul bourse dips a quarter percent
June 14, 2011--The Saudi Stock Exchange's benchmark index Tasi ended Tuesday at 6,568.51 points (off 0.24%).
Saudi Arabian Cooperative Insurance Company surged 7.85% to SR35.70. Sabic shares remained in a fickle mode, closing in line with the market down a quarter percent. Thirty-eight shares gained, 93 lost and 14 ended even.
Source: AME Info
Zad Holding soars on shareholders' acquisition approval
June 14, 2011--The Doha-based Qatar Exchange (QE) added 0.31% as industrial shares gained in particular. The QE Index closed at 8,311.20 points on Tuesday.
Shares of Zad Holding ended up 1.48% at QR55. Earlier in the day, Zad announced that the Extraordinary General Assembly Meeting that ok place on June 13 approved the proposal of Board of directors for acquiring Meeda Projects Company by increasing the share capital through issuing 8,464,132 shares of Zad to the shareholders of Meeda projects for its value (every 7.7387 shares of Meeda entitle 1 share of Zad) after the approval of Ministry of business and trade. The share capital of Zad holding after this issue will be QR215.45m.
Source: AME Info
National Bank of Kuwait climb back to KD1.200
May 14, 2011--The Kuwait Stock Exchange (KSE) added 0.20%, closing at 6,330.40 points.
The country's largest lender by assets National Bank of Kuwait, known as NBK, gained 1.69% and closed at KD1.200. NBK-shareholders have to remain patient as the stock has been trading in a range between KD1.260 and 1.140 for the last three months.
Source: AME Info
NASDAQ Dubai closes with losses
June 14, 2011--FTSE NASDAQ Dubai UAE 20 Index closed at 1678.87, down 0.28% from the previous close.
DP World shares dived 2.36% to $12.40. DP World shares were dual listed at the London Stock Exchange (LSE) on June 1st. Depa Ltd., the Dubai-based interior designer plummeted 5.56% to $0.51.
Source: AME Info
Waha Capital secures $505m revolving credit facility
June 14, 2011--The ADX General Market closed insignificantly higher at 2,711.54 points. Shares of leasing specialist company
Waha Capital closed even at Dhs0.69. Earlier in the day Waha said in a statement to the ADX that it agreed on a $505m term and revolving credit facility with eleven local, regional and international banks. The facility is for a term of 3 years and was arranged by the company itself. Waha Capital's main institutional shareholders are Mubadala Development Company and Abu Dhabi Investment Company. Market bellwether Aldar Properties added 0.75% to reach Dhs1.32. Nine shares gained, 12 lost and 13 ended even. Trading turnover remained low as 47.16m stocks valued Dhs77.3m changed hands.
Source: AME Info
Revolution at Egyptian Exchange- innovations to boost liquidity
June 14, 2011--The Egyptian Exchange (www.egyptse.com) is to introduce new products and trading innovations, including remote orders placed abroad, exchange-traded funds (ETFs), intraday trades and short selling. Mohamed Abdel Salam, chairman of the Exchange, told Reuters that transparency was up and political uncertainty was down in Egypt since the political uprising that overthrew former president Hosni Mubarak and this is bringing more investor confidence.
The trading changes had been delayed as the political mandate of the old government decreased. Some innovations could be introduced in July and talks on remote orders are to resume with the London Stock Exchange (www.londonstockexchange.com) on 20 June. Mohamed Abdel Salam told Reuters in an interview on 13 June: “There are indicators that show the market is improving because of the revolution. First, it reduced political risk. In the past, things were vague. If the president were to die, would his son take over, or would the army? Many people have started trusting us now, and we are also trying to reduce transaction costs on foreign investors … so I think we will now introduce short-selling and intraday trade in the first days of July.”
Source: African Capital Markets news
Deloitte Middle East whitepaper -Switched on to Current Trends and Implications
June 13, 2011--As the Middle East continues to feel the impact of the
global financial crisis, and as more recent events, such as the threat of regional unrest, unfold, governments
are finding a new set of challenges in the energy and resources sector. Meanwhile within each industry of oil,
gas, electricity and water, other challenges and trends are forcing inevitable change in traditional thinking. Issues such as depleting resources, a shortage in skilled
talent and environmental concerns among others all pose a risk to the viability of current practices. What will be the impact on the public and private sectors? In this white paper Deloitte Middle East aims to enumerate the wide-ranging trends, their implications and the services that are potentially applicable in overcoming the challenges.
view the Deloitte Middle East whitepaper-Switched on to Current Trends and Implications
Source: Deloitte Touche
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