Middle East ETF News Older than One Year
Abu Dhabi bourse adds 0.42%
August 19, 2010--The ADX General Index closed at 2,506.29 points, recovering from heavy losses at the beginning of the week as the benchmark closed 10 points higher compared to the finish of last week.
National Bank of Abu Dhabi (NBAD), the emirate's largest lender, added 1.79% and finished at Dhs11.45. Its rival First Gulf Bank closed 0.36% lower at Dhs13.95.
Source: AME Info
Bahrain bourse ends slightly lower
August 19, 2010--The BSE benchmark index weakened on Thursday, as profit taking dragged the market 0.31% lower to 1,409.12 points.
Islamic bank Ithmaar lost 6.9% (at $0.135), after its shares hit a seven-week high on Tuesday. Arab Insurance Group plummeted 9.80% to $0.46.
Source: AME Info
Qatar Exchange closes slightly higher at 7, 077 points
August 18, 2010--The QE Index added 0.21% due to advances in the banks and services industry sectors. Al Khaliji Commercial Bank (up 1.96% at QR15.40)outperformed all other financial shares. Gulf Warehousing Co. (gaining 1.74%, closing at QR17.80)
was the most liquid stock in relation to trading volumes. Some 3.4m stock changed hands in Doha.
Source: AME Info
Abu Dhabi bourse gains insignificantly
August 18, 2010--With only a few significant movements being seen, the Abu Dhabi market ADX ended 0.05% higher at 2,495.70 points. The exchange's heavyweights ended on a mixed note, such as Aldar Properties (up 0.47% at Dhs21.3) or Dana Gas (down 1.28% at Dhs0.76).
Eleven shares gained in value, 11 ended flat and seven stocks declined.
Source: AME Info
DFM and ADX close firmer
August 18, 2010--Dubai Financial Market (DFM) continued its momentum on Tuesday with all sectoral indices ending in positive terrain, pushing the benchmark index to 1487.28, up 13.57 points or 0.92
at the end of trading session.All sectors posted gains with the real estate, finance and telecom leading the way.
Source: Zawya
Yemen oil revenues on the rise
August 17, 2010--According to the central bank of Yemen, oil revenues for the year have climbed to $1.132bn from $483.24m for the same period of 2009, Yemen Observer has reported.
The government share of January-May exports amounted to 14.46 million barrels at an average sales price of $78.28 per barrel. This compared with 10.16 million barrels at an average price of $47.56 per barrel for the first five months of 2009. The country's oil sector accounts for 92% of exports and 30% of GDP.
Source: AME Info
Kuwait stock exchange halts trading in 24 companies
August 17, 2010--The Kuwait Stock Exchange has halted trading in the shares of 24 companies for failing to publish their second-quarter earnings on time, Reuters has reported.
The 24 halted firms, most of which are investment companies, include Aref Investment Group, Kuwait Investment Co and Industrial Investments Co among others.
Source: AME Info
Qatar Exchange adds 0.29%
August 17, 2010--The QE Index extended its recovery from Monday, closing 0.29% higher at 7,062.83 points. Trading volumes shrank to some three million shares.Doha Insurance Group surged 2.15% to QR28.50.
The firm reported on Monday a net profit of QR41.1m in the first half of 2010, compared to a net profit of QR25.6m in the corresponding period in 2009.
Source: AME Info
Tadawul bourse ends flat at 6,161 points
August 17, 2010--Market bellwether and petrochemical giatn Sabic (up 1.46% at SR87.00) failed to lift the entire Tadawul benchmark TASI (unchanged at 6,161.76 points, as weak banks and insurers weighed on the market in Riyadh.
Saqr Insurance ended as the top losing stock, closing 3.04% lower at SR35.10. Alinma Banks was the second most liquid share (after Sabic). Alinma lost 0.46%, finishing near a 52-week low at SR10.85.
Source: AME Info
The Kingdom of Saudi Arabia's Ninth Development Plan
August 16, 2010--The Kingdom of Saudi Arabia's Ninth Development Plan (2010-2014) is a second five-year plan in a series of long-term development strategies aimed at achieving a comprehensive socioeconomic vision by 2024. The Kingdom remained committed to accelerating the development process and has enhanced its next five year spending plan (2010-2014) by 67.2% from SR863.9bn (US$230.3bn) in Eighth Development Plan to SR1,444.6bn (US$385.2bn) in Ninth Plan.
The government continues to support its sectoral development with highest sector contribution of around 51.0% allocated to Human Resources Development that was followed by Social and Health Development spending constituting 19.0% of the total sector allocations.
The Kingdom's economic expansion continued to record real GDP growth of 0.6% and 4.2% in 2009 & 2008, respectively. Under the Ninth Development Plan (2010-2014), KSA economy is expected to record average annual real GDP growth of 5.2% with economic output to increase from SR855.7bn (US$228.2bn) in 2009 to SR1,101.2bn (US$293.6bn) in 2014. On macroeconomic front, the Kingdom's Gross Fixed Capital Formation (GFCF) is expected to remain strong recording an average annual growth rate of 10.4% resulting in a share of 38.5% of GDP in 2014.
The diversification of the economy remains one of the top priorities of the government. The Kingdom's efforts to decrease its dependence on oil resources seem to have shown encouraging results over the last few years. The contribution from non-oil sector to GDP increased to 77.1% in 2009 as compared to 73.5% in 2004. The next five year plan envisages further increase in proportion of non-oil sector contribution to GDP to reach around 81.3% by 2014. Over the projected five years, the private sector is expected to record growth of 38.5% till 2014 and will remain dominated by financial, insurance, business & real-estate services (14.7% of GDP).
Source: Zawya.com
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