Middle East ETF News Older than One Year
Islamic finance body approves sharia standard for gold-based products
November 28, 2016--Traditionally, gold has been treated as a currency in Islamic finance
New standard addresses collateral, set off, screening and and gold exchange in transactions
The Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) said on Monday it had approved a sharia standard for gold-based products, a move aimed at expanding the use of bullion in Islamic finance.
Source: AMEInfo.com
Mirae Assets Global Investments launches maiden Islamic fund
November 23, 2016-Hong Kong-based launched its first sharia-compliant Asian equities fund
Islamic funds industry is now attracting regional firms seeking to penetrate markets from Saudi Arabia to Indonesia.
Source: AMEInfo.com
Abu Dhabi recovers, Saudi petrochemicals buoyed by oil bounce
November 21, 2016-In Abu Dhabi market, banking stocks sold off in previous session recovered
Banks see drop after denying rumours about mergers.
Majority of listed petroch shares rose as Brent futures climbed Abu Dhabi's stock market index rebounded in early trade on Monday as some of banking stocks which were sold off in the...
Source: AMEInfo.com
Egyptian pound weakens as dollar demand surges, interest rates steady
November 20, 2016--Egyptian pound weakened as banks scrambled to meet surge in demand for dollars
Pound had also weakened on the parallel market where prices were roughly in line with banks
Egypt floated the pound on November 3 and raised interest rates by 300 basis points
Source: AMEInfo.com
IEA: No OPEC cut means another oil surplus in 2017
November 10, 2016--IEA raises concerns about the increased output by OPEC members and other oil-producing countries.
Concern rising in OPEC as producers are increasing supply and demand isn’t growing
OPEC to meet at end November to discuss production cut
Source: AMEInfo.com
Dubai and Qatar bounce in line with global shares, Saudi robust
November 10, 2016--World markets initially fell after Trump's win
Dubai's stock market index rose 1.1 per cent early
Qatar index rose 0.6 per cent with gainers outnumbering losers 12 to three.
Source: AMEInfo.com
State payment plan lifts Saudi index
November 9, 2016--Government's plan to pay debts to the private sector boosted the market, lifting Saudi index
All 12 listed banks rose; they have been bullish since last month's bond sale
Long-term investors returned to buy blue chips that dropped sharply over past year.
Source: AMEInfo.com
UAE, Qatar markets update: Aldar up on earnings beat
November 8, 2016--Net profit attributable to Aldar's owners came in at AED747.8m. Emaar Properties, added 0.9 percent, helping lift Dubai's main index up 0.4 per cent.
Small and mid-sized shares were the chief gainers, with builder Arabtec advancing 2.3 percent Abu Dhabi's index rose by 0.6 percent as the largest listed developer Aldar Properties climbed 1.2 percent...
Source: AMEInfo.com
Saudi shares see fourth day of uninterrupted gains
November 8, 2016--Mainly due to positive news from the government's payment plan to the private sector Contractor Al Khodari was the top gainer after 15 minutes of trade
Petrochemical and banking shares remained robust Stock markets in the Gulf edged higher on Tuesday with Saudi Arabian shares heading for a fourth day of uninterrupted gains on positive
Source: AMEInfo.com
With dollars scarce, Egypt's newly-floated pound weakens
November 7, 2016--Egypt abandoned currency peg to dollar last week
Shortage of dollars continues to pressure pound
Government urges Egyptians to shun black market
Egypt's pound weakened on Monday, its second day as a freely trading currency, and traders said they expected further declines as a severe dollar shortage in the banking system...
Source: AMEInfo.com
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