Middle East News Older Than 1 year-If your looking for specific news, using the search function will narrow down the results
DGCX Shari'ah Compliant Spot Gold Sees World-Record Volumes on the First Day of Trading
April 1, 2018--The GCC's first and the world's only Shari'ah Compliant Spot Gold contract (DGSG), was listed on the DGCX on March 29th. The contract opened with world-record Exchange traded Shari'ah Compliant Gold volumes on the first day of trading.
The product traded volume of 84 Kilograms worth USD 3.56 million, on its opening day. The contract's launch follows months of planning and preparation for the DGCX, the region's largest and most diversified derivative bourse.
Push for global standard leaves Sukuk market at a crossroads
March 30, 2018--Islamic finance market is torn between need to innovate and desire for a global standard
view more
MIDEAST STOCKS-Saudi retreats after winning FTSE emerging status, rest of region strong
March 29, 2018--Saudi Arabia's stock market fell back because of moderate profit-taking on Thursday after index compiler FTSE Russell decied to upgrade Riyadh to emerging market status, a move likely to draw billions of dollars of new foreign money.
view more
Saudi Stock Exchange Joins FTSE Global Equity Index Series
March 28, 2018-- Index inclusion affirms positive impact of market reforms Tadawul and Saudi government have introduced as part of Vision 2030
The Saudi Stock Exchange (Tadawul) is pleased that FTSE Russell announced today that Tadawul will be classified as a "Secondary Emerging" market in the FTSE Global Equity Index Series from its previous status as "Unclassified".
This decision was issued following a series of market enhancements introduced by Tadawul and the Capital Market Authority (CMA) over the past two years. Many of those developments have fulfilled market quality criteria set by FTSE Russell that must be met in order for a market to be classified as Emerging in its indices.
Mideast funds more wary on Saudi after market surge, bullish on Egypt
March 29, 2018--Middle East fund managers have become more cautious about ploughing additional money into Saudi Arabian equities after the market jumped on expectations that it would be included in global indexes, a monthly Reuters poll showed on Thursday.
view more
FTSE to upgrade Kuwait to emerging market in two stages
March 28, 2018--Kuwait's stock market will enter FTSE Russell's emerging marketindex in two equal stages in September and December this year, and 10 Kuwaiti stocks currently look likely to join the benchmark, the company said on Wednesday.
view more
MIDEAST STOCKS-Gulf markets subdued as investors take stock of missile attacks
March 26, 2018--Stock exchanges in the Gulf were mainly subdued early on Monday as investors digested news of missiles fired overnight at Saudi Arabia, the region's largest economy.
view more
Saudi stocks drop at opening after kingdom shoots down missiles
March 26, 2018--Saudi Arabia's main stock index dropped by 0.5 percent at opening on Monday as investors were spooked by news of missiles fired overnight into the kingdom.
view more
Kuwait's Silk City is key project in China's One Belt One Road initiative
March 22, 2018--Kuwait's Silk City and the five-island developments are a key project in the One Belt One Road initiative, and will strengthen Kuwait-China relations, said Mr. Jiang Zengwei-Chairman of the China Council for the Promotion of International Trade (CCPIT) and the China Chamber of International Commerce (CCOIC).
In a keynote address at the Kuwait Investment Forum (KIF 2018), Mr. Jiang Zengwei said Kuwait was one of the first GCC nations to have diplomatic ties with China and relations between the two countries have strengthened over the years. He said the One Belt One Road initiative complements Kuwait's Vision 2035 in fostering development in several core sectors.
Qatar Stock Exchange welcomes the largest Islamic ETF in the World by Al Rayan
March 21, 2018--Al Rayan Qatar ETF (QATR) commenced trading today with initial assets in excess of 120 million USD
Al Rayan Investment will operate the ETF which tracks the price performance of the QE Al Rayan Islamic Index.
The ETF has the lowest management fee of any Shari'a-compliant fund globally
Qatar Stock Exchange today admitted to trading the Al Rayan Qatar ETF under the symbol "QATR". To mark the launch of the ETF, the exchange today welcomed the fund's founder, Masraf Al Rayan,and fund manager,Al Rayan Investment, to open trading in Doha. The Fund will track the QE Al Rayan Islamic Index (Price) which is comprised of large and medium sized, Shari'a-compliant, listed Qatari companies.
The Al Rayan Qatar ETF becomes the largest single-country Islamic ETF in the world and is the latest addition to QSE's burgeoning exchange-traded fund lineup.