Middle East ETF News Older than One Year
Islamic finance to drive trade and investment flows between Asia and Middle East
May 10, 2011-Islamic finance has emerged as one of the most rapidly expanding sectors in the global financial system and is evolving into an industry with an increasingly significant global footprint.
There are estimated to be over 430 Islamic banks and financial institutions operating in more than 75 countries, and around 191 conventional banks that have Islamic banking windows.
Source: AME Info
Tamweel shares resume trading as Dubai market rebounds
May 10, 2011--Strong recoveries in the construction and real estate sector lifted the DFM Index by 1.8% to 1,606.78 points. Emaar surged 4.15% to reach Dhs3.26. Islamic home financer Tamweel resumed trading of its shares today and closed 10% lower at Dhs0.891.
"Undoubtedly, this step represents a positive development for investors, particularly that Tamweel has a large investor base with more than 55,000 shareholders," said the DFM's Managing Director and CEO Essa Kazim. Union Properties posted the largest gain (up 7.07% at Dhs0.424). 142.43m stocks valued at Dhs178.56m changed hands.
Source: AME Info
Kuwait bourse advances further
May 10, 2011--The KSE Market Index added 0.22% to reach 6,522.9 points.
While the banking sector landed in the red, real estate and investment firms supported the recovery. Al Safwa Group Holding posted the largest advance (up 10% at KD0.022). Al Ahli Bank of Kuwait declined 2.89% to KD0.670.
Source: AME Info
Taqa shares end flat ahead of quaterly results
May 10, 2011--The ADX General Index dipped 0.18% to close at 2,670.82 points. Abu Dhabi National Energy Co., known as Taqa, closed unchanged at Dhs1.40.
Taqa said it will release result for Q1 2011 tomorrow on Wednesday. Aldar Properties shares (off 0.67% at Dhs1.50) weighed on the market.
Source: AME Info
Oil-related stocks push Tadawul market higher
May 10, 2011--The Tadawul All Share Index (Tasi) closed 0.6% higher at 6,712.97 points.
Sabic gained 0.23% too reach SR109, while Saudi Arabia Refineries soared 3.27%, closing at SR50.50. Saudi Advanced Industries Co. plunged 2.50% to SR15.60. 98 shares gained, 33 declined and 14 ended even.
Source: AME Info
Abu Dhabi bourse loses amid weak performing real estate shares
May 9, 2011--The ADX General Index declined for the third consecutive day on Monday, closing at 2,675.61 points.
Emirates Insurance Co. posted the largest loss (down 9.85% at Dhs5.40) while Al Dhafra Insurance Co. was the top gainer (up 4.62% at Dhs4.01). Aldar shares dived 3.23% to Dhs1.48. Ten stocks gained, 17 lost and nine finished flat.
Source: AME Info
Bank shares boost Qatar market
May 9, 2011--The QE Index surged 1.02% to reach 8,544.18 points.
Qatar Islamic Bank jumped two percent, closing at QR80.80. Al Khalij Commercial Bank added 0.84%, finishing at QR17.99. Only four shares declined, among them Cinema which lost the most (down nine percent at QR40.00.
Source: AME Info
Kuwait Stock Exchange gains insignificantly
May 9, 2011--The KSE continues to trade sideways as the KSE Market ended up 0.04% at 6,508.6 points. First Dubai for Real Estate Development posted the largest gain (seven percent higher at KD0.0305).
Telcom provider Zain weighed on the market (off 1.69% at KD1.160). Year-to-date, the KSE lost 6.43%, the second worst performance in the GCC behind the market in Muscat.
Source: AME Info
Bahrain Bourse dips despite end of martial law announcement
May 9, 2011-The Bahrain All Share Index in Manama declined 0.40%, closing at 1,384.98 points as no listed share posted a profit.
. On Sunday, Bahrain's King Hamad al-Chalifa announced that the martial law, which was imposed on March 12 after months of demonstrations and civil unrest, will be lifted on June 1st. Ithmaar Bank plummeted 5.56% to $0.085. Ahli United Bank closed unchanged at $0.74.
Source: AME Info
DGCX crosses Open Interest (OI) milestone of 10,000 lots
May 9, 2011--In a significant milestone, DGCX has crossed open interest (OI) of 10,000 lots for its contracts on May 5, 2011. The value of the open interest is US$ 500 million.
Open interest is the total number of outstanding futures contracts held by market participants and is regarded as a leading performance indicator in the industry. It also represents the health of a Market and trust of market participants in the credibility of DGCX's clearing house, the DCCC. The milestone is a significant testament of the rapidly growing confidence of commercial parties and investors in trading and holding positions in DGCX precious metals, energy and currency products.
For more information: www.dgcx.ae
Source: DGCX
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