Middle East ETF News Older than One Year
Nasdaq Dubai issues its monthly trading report: August 2010
September 8, 2010--The value of equities traded on Nasdaq Dubai rose by 20% in August 2010 from the same period in August 2009. It was the first full month of trading since the exchange outsourced its operations to Dubai Financial Market (DFM) on July 11, 2010.
The August value reached $78.7m, up from $65.5m in August 2009. The proportion traded by individual investors, as opposed to institutions, also increased. Volume for the month fell by 9% to 158.6 million shares, from 175.2 million in the same 2009 period.
Nasdaq Dubai outsourced its trading, settlement, clearing and custody functions for equities to DFM on 11 July, 2010, as part of a strategy to increase trading of its equities by individual investors and bring them together in one liquidity pool with institutional investors.
Source: AME Info
Qatar shares lead Gulf markets higher before Eid holiday
September 8, 2010--Qatar shares rose a second day this week, leading gains in Gulf markets, as investors bought shares before this week’s Muslim holiday on speculation stocks will rally after Ramadan ends.
Qatar National Bank, the country’s biggest lender, increased 1.4 percent. Qatar Telecom QSC climbed the most since June 21 after it said Nawras, an Omani phone company it controls, may raise as much as $608 million in Oman’s first initial public offering in two years. The QE Index advanced 0.4 percent, the most since Sept. 5, to 7,453.73 at the 12:30 p.m. close in Doha. The Bloomberg GCC 200 Index rose 0.1 percent.
Source: Arabian Business
Kuwait market rises insignificantly ahead of Eid holidays
September 8, 2010--The Kuwait Stock Exchange (KSE) Market or Price Index added 0.05% on Wednesday, closing at 6,757.1 points. Abyaar Real Estate Development Co. landed at the top of the charts, gaining 7.54% at KD0.0285.
Zain Telecom, which announced end of August it seeks a telecom licence in the Arab Republic of Syria, ended 1.58% higher at KD1.280.
Source: AME Info
Industrials lift Qatar bourse by 0.41%
September 8, 2010--The Qatar Exchange (QE) finished 0.41% higher at 7,453.73 points amid advances in the industrial sector. Qatar Fuel added 1.32%, closing at a five-month high at QR184.10.
Insurance firms posted minor gains, e. g. Doha Insurance (up 0.67% at QRE30).
Source: AME Info
Key Islamic funds poised for growth
September 7, 2010--With around 1.6 billion Muslims worldwide and $950bn in assets under the management of the Islamic finance industry, the room for growth in Islamic exchange traded funds (ETFs) is evident.
"There are currently 16 ETFs trading that are benchmarked to Islamic indices, with around $36 million in total assets across the funds," according to iShares vice-president Robert Broadwell
There are now Sharia-compliant ETFs trading on major stock exchanges around the globe, including Saudi Arabia, Europe, the US and Asia.
"Sharia-compliant indices now offer investors the ability to gauge equity market returns based on a screening and selection process that combines benchmark index design with Islamic principles," he said.
"The key element that unifies the various Islamic index providers is transparency. The security selection rules and screening methodology are clearly laid out and published on each provider's website.
Source: Gulf Daily News
Dubai stocks hit 3-month high; volumes cross 200m mark
September 7, 2010--Bulls continued to rule for the second consecutive day on the Dubai Financial Market as investors went back into the ring amid hopes the market will sustain the rally after Eid.
The DFM benchmark index on Monday rose to three-month high, supported by high volumes that crossed the 200 million mark due to increased trading activity ahead of the Eid holidays, starting tomorrow.
The DFM General Index climbed 30.79 points, or two per cent, to 1,568.88 points, its highest finish since May 31. Volumes hit a two-month high as the traders exchanged 204.06 million shares worth Dh393.38 million compared to 103.22 million shares on Sunday. Sentiments remained positive throughout the day as out of 25 shares traded on the exchange yesterday, 20 posed gains and only five declined.
Emaar Properties continued its upward trend and surged 3.14 per cent to Dh3.61 while Arabtec and Dubai Financial Market Company advanced 4.7 per cent and 5.3 per cent, respectively. This trio accounts for two-thirds of all shares traded on the benchmark.
Source: MenaFN
Arab Banking and Finance released
September 7, 2010--.Regional directory publisher Primedia International announced the release of Arab Banking & Finance in three platforms: print, online and mobile.
Published annually, the guide presents detailed comprehensive information covering banks, institutions, regional rankings, CI Ratings and more. As an added benefit, Arab Banking & Finance also publishes expert opinions on current industry trends and developments.
Source: AME Info
Qatar Exchange dips slightly ahead of Eid holidays
September 7, 2010--The QE Index ended 0.18% lower at 7,422.96 points mainly due to minor losses in the insurance sector. The Management of QE would like to inform the investors and market participants that Qatar Exchange will be closed from Sunday 12 September up to and including Tuesday 14 September 2010
in occasion of Eid Al-Fitr. Trading will be resumed on Wednesday 15 September 2010. Depending on moon sighting, if Eid Al - Fitr starts on Thursday September, 9, the QE will be closed as well on that day.
Source: AME Info
Abu Dhabi market rises by 0.57%
September 7, 2010--The ADX General Index (up 0.57% at 2,531.72 points) was lifted by advances across the board. Telecom provider Sudatel rebounded and posted the highest gain (3.98% higher at Dhs2.35)
after the firm said on Monday it expects to pay 2009 dividends to shareholders by November after a threat from the UAE's securities regulator to suspend the Sudatel stocks. First Gulf Bank. the UAE fourth largest bank, was the most liquid stocks, ending 0.15% lower at Dhs13.80.
Source: AME Info
Dubai market bullish ahead of Eid
September 7, 2010--The DFM Index surged 1.49% to 1,592.24 points ahed of Eid ul-Fitr. The DFM will remain closed from Wednesday until the fourth day of the Islamic month of Shawwal. Emaar Properties, the most liquis stock, closed 1.94% higher at Dhs3.68.
Shares of telecom provider du closed at a 14-week high at Dhs2.28 (up 3.96%). Global Investment House writes on GCC telecoms: "With the resolving of the blackberry in Saudi Arabia, the chances have become brighter for a similar deal in UAE." The UAE seeks access to transmitted data done by Blackberry users and has set a deadline until October 11. Islamic real estate developer Deyaar failed to join the sector's advances and finished 1.63% lower at Dhs0.301. Traded value and volumes declined ahead of Eid holidays by 30% and 23%, respectively as 156.32m shares worth Dhs275.76m changed hands.
Source: AME Info
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
