Middle East ETF News Older than One Year
Egypt strong, Saudi bolstered by $12.5bln sovereign bond issue
September 28, 2017-- Egypt's stock index climbed on Thursday ahead of a central bank meeting on monetary policy later in the day, while the banking sector helped carry the Saudi index higher after news that the government had priced a $12.5 billion international bond issue.
Source: Zawya.com
MIDEAST STOCKS-Banking shares support Saudi in early trade
September 28, 2017--Banking shares helped take the Saudi index slightly higher in early trade on Thursday after news that the government has priced a $12.5 billion international bond issue, while the rest of the region was mixed.
Source: Zawya.com
IMF-Egypt: The Economy Is Gathering Strength
September 26, 2017--The IMF on September 26 published the staff report for the first review of Egypt's economic reform program, which aims at restoring the economic stability of Egypt and paving the way for higher long-term growth.
The program is off to a good start, with the government carrying out bold but necessary reforms while protecting the poor. The IMF Executive Board approval of the government's program led to a disbursement of $1.25 billion of the $12 billion support under the IMF's Extended Fund Facility.
"The Egyptian authorities have embarked on an ambitious reform program and have taken decisive measures aimed at restoring macroeconomic stability and sustainable public finances. At the same time, by strengthening social protection measures, they have sought to protect the most vulnerable. We have seen that economic activity has been gathering strength and efforts at reining in the budget deficit have begun to bear fruit.
Source: IMF
Oman, Egypt and Bahrain win in regional trading last week
September 25, 2017--Sideways trading was the main theme for most of the regional markets last week.
Five of the regional indices ended the week in the red, while three ended in black with modest gains.
On a weekly basis, Kuwait was on top of the losing team, with practically a -0.9 per cent down, followed by Dubai, which was down by -0.7 per cent and then Abu Dhabi, Saudi and Qatar, each down by -0.6 per cent. Oman, Egypt and Bahrain advanced week on week by nearly 2.0 per cent, 0.6 per cent and 0.3 per cent, respectively.
Source: AMEInfo.com
Saudi shares drop on fear of FTSE delay, Qatar rises again
September 25, 2017-- Saudi Arabia's stock index fell on Monday on rumours that index compiler FTSE might not upgrade Riyadh to emerging-market status as quickly as hoped, while Qatar notched up its fifth straight session of gains.
Source: Zawya.com
Petchems support Saudi as oil stays near $56, Qatar up again
September 21, 2017--An overnight rise in crude oil prices to a fresh five-month peak helped to push the Riyadh stock index slightly higher on Thursday while Qatar secured its third straight day of gains.
The Saudi index edged up by 0.1 percent as all but two of the 14 listed petrochemical producers rose as Brent contracts traded around $56 a barrel.
Source: Zawya.com
MIDEAST STOCKS-Qatar up again in otherwise weak region, Dana Gas flat after trial adjourned
September 20, 2017--Qatar's stock market extended gains in early trade on Wednesday as local investors bought on price dips, in an otherwise weak Gulf region.
The Doha index rose 0.5 percent after 40 minutes of trade, extending the previous session's small 0.1 percent rise.
Source: Zawya.com
MIDEAST STOCKS-Qatar rises slightly in early trade, coming off 5-yr low
September 19, 2017--Qatar's stock index came slightly off a five-year low in early trade on Tuesday while most other markets in the region moved little.
Source: Zawya.com
Egypt to determine Eurobond currency, issuance date in 2 weeks
September 19, 2017-- Egypt expects to determine the currency of its next Eurobond issuance within two weeks, finance minister Amr El-Garhy told Reuters on Tuesday.
Garhy said the ministry is looking to issue Euro-denominated Eurobonds to fulfill short-term obligations and to diversify its currency basket.
Source: Zawya.com
Toronto Stock Exchange seeks partnerships with Gulf bourses
September 19, 2017--The Toronto Stock Exchange, which is vying to host Saudi Aramco's overseas listing, is exploring partnerships with bourses in the Gulf to help it tap into energy privatisations there.
Source: Zawya.com
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