Saudi Tadawul market dips slightly amid profit booking-continued

March 07, 2012--The Riyadh-based market gauge Tasi closed at 7,374.92 points, off 0.34% Wednesday. Sabic slipped a quarter percent to SR101.75.
Al Ahsa Development Company gained 1.46% to reach SR20.80. Earlier in the day, Al Ahsa announced that three former Members of Board of Directors has filed a case against Al-the company in the Court, demanding regardless Directors remuneration, for the year 2009 for total amount of SR250k for each member which was approved during the Ordinary General Assembly Meeting, held on April 5 2010. The firm declared further: "The Management of the company has stopped to release the remuneration, after receiving a letter from the Capital Market Authority, stating that the company proceeded in violation in that Assembly, against the Article of Association provisions of Article 43 and Article 74 of Companies Regulations, was committed to what was stated in the Shareholders Report, and the regulations issued by the higher authorities, and approved the distribution of remuneration to the Members of the Board of Directors without dividends given to shareholders. Based on freezing of remuneration for Members of the Board of Directors, a case was raised against the against company in Dammam Court; and the company believes and legal adviser to the plaintiffs the former members of Board of Directors, are not eligible for any remuneration in accordance with the statue of the company and the corporate system."

Source: AME Info


Middle East ETP News
MIDEAST STOCKS-Saudi soft after hitting multi-year high, property hurts Dubai
April 24, 2018-- Saudi Arabia's stock index fell back on Tuesday as many blue chips were seen as fully valued or expensive after the market hit a more than two-year high the previous day. Other Gulf markets were mixed, with property stocks dragging Dubai lower.
read more
MIDEAST STOCKS-Saudi index boosted by oil gains; Qatar National Bank jumps
April 19, 2018--Saudi Arabia's stock market surged on Thursday, bolstered by a pick-up in oil prices to their highest since late 2014, while a jump in heavyweight Qatar National Bank helped to lift Qatar's index.
read more
Qatar strong as Commercial Bank surges, rest of Gulf moves little
April 18, 2018--Qatar's stock market outperformed in early trade on Wednesday as Commercial Bank surged after beating analysts' forecasts for its first-quarter earnings, while other Gulf bourses moved little.
Qatar's stock index rose 0.8 percent as Commercial Bank gained 3.0 percent.
read more
MIDEAST STOCKS-Saudi index at highest since Q3 2015, other markets mixed
April 17, 2018--Saudi market extended gains on Tuesday morning, hitting its highest level since the third quarter of 2015, backed by solid performance of leading stocks. Other markets in the region were mixed.
read more
MIDEAST STOCKS-Saudi index holds above 8,000 points, telcos boost Egypt
April 17, 2018-- Saudi Arabia's stock market continued a strong uptrend on Tuesday on the back of petrochemical and banking stocks, while rising telecoms shares boosted Egypt.
The Saudi index closed 0.6 percent up at 8,096 points, having finished above 8,000 points on Monday for the first time since August 2015.
read more
Diamonds in the Sky: New blockchain-based trading platform launches in Dubai
April 16, 2018--A new online platform that allows traders to physically purchase or trade diamonds via blockchain was launched from Dubai on Sunday, company officials said.
read more
Mideast Stocks-Gulf's relief rally pauses but Saudi extends gain on financials
April 16, 2018--Most Gulf stock markets were flat to slightly higher early on Monday, pausing after they rallied on the previous day because of hopes that the Western military attack on Syria would not escalate into a wider conflict. But Saudi Arabia extended its gains on the back of financials.
read more
Egypt's Economic Outlook-April 2018
April 16, 2018--As reform momentum is sustained, economic activity is expected to improve and imbalances are projected to narrow further. Real GDP is forecast to grow by 5% in FY18, and to increase gradually to 5.8% by FY20.
read more
World Bank-Growth Expected to Rebound in Middle East and North Africa
April 16, 2018--Growth to exceed 3% but reforms needed to achieve region's full potential and meet demands of large youth population
The World Bank Group's latest Middle East and North Africa Economic Monitor projects regional growth to increase to 3.1% in 2018, up from 2% in 2017.
read more
MIDEAST STOCKS-Most of Gulf hit by Syria tensions but Saudi stabilises
April 12, 2018--Most Gulf stock markets dropped in early trade on Thursday as fears of an imminent strike on Syria unsettled bourses globally, but Saudi Arabian stocks stabilised after their sell-off late on the previous day.
read more
Abu Dhabi steps up pace of privatisations
April 12, 2018--Abu Dhabi's plans to unlock the share value of some of its key economic assets are gathering steam, with initial public offerings (IPOs) of a number of public enterprises expected in 2018, in moves that could encourage private sector companies to follow suit.
read more
MIDEAST STOCKS-Gulf subdued in early trade, Dubai's Drake & Scull rebounds
April 11, 2018--Gulf stock markets were mostly subdued in early trade on Wednesday, in line with global markets, although builder Drake & Scull (DSI) was strong in Dubai.
The Dubai index was up 0.3 percent as DSI, the most heavily traded stock, climbed 2.4 percent. It has been trading near five-month lows.
read more
MIDEAST STOCKS-Qatar rises again in early trade, Gulf markets soft
April 10, 2018-- Qatar's stock index kept rising on Tuesday after several blue-chip firms raised foreign ownership limits, though other Gulf markets were weak.

The Qatar index lifted 0.2 percent in early trade, building on a 1.8-percent gain on Monday.

read more
Saudi exchange counting on foreign funds to aid Aramco IPO, chief says
April 8, 2018--Saudi Arabia's stock exchange expects an influx of foreign funds to smooth the listing of national oil firm Saudi Aramco, despite concern among some analysts about whether the market can absorb the huge offer, the exchange's chief executive said on Sunday.
read more
MIDEAST STOCKS-Gulf stocks mainly positive, Saudi continues rebound
April 5, 2018--Gulf stock markets were mainly in positive territory on Thursday, with Saudi Arabia's index continuing to rebound after several days of profit-taking.
read more
Ministry Of Economy And Industry And The Tel-Aviv Stock Exchange Are Launching A New Index: TA-Industrials-The Index Comprises More Than 80 Industrial Companies From A Range Of Israeli Economic Sectors
April 4, 2018--The board of directors of The Tel-Aviv Stock Exchange (TASE) approved (March 29, 2018) the launch of a new equity index in conjunction with the Ministry of Economy and Industry.
read more
MIDEAST STOCKS-Money flows back into Saudi, Emaar keeps falling in Dubai
April 4, 2018--Buyers returned to the Saudi Arabian stock market on Wednesday as blue chips attracted interest again after several days of profit-taking that followed FTSE Russell's decision to upgrade Riyadh to emerging market status.
read more
MIDEAST STOCKS-Egypt falls on failed buyout offer, Gulf mostly lower
April 3, 2018-- Egyptian stocks fell on Tuesday, hit by a plunge in index heavyweight Global Telecom after the company's majority shareholder withdrew a buyout offer, while Saudi Arabia stabilised after three days of falls.
read more
Monthly markets round-up: Saudi's attempt to woo passive funds pays first big dividend
April 2, 2018--About $2.2billion of investment into Saudi equities is expected, following Tadawul's inclusion onto FTSE Russell's secondary emerging market index.
read more
The Capital Market Authority announces the listing of the debt instruments issued by the Government of the Kingdom of Saudi Arabia
April 1, 2018--Proceeding from the CMA's program 〉Financial Leadership 2020 〉 to achieve Saudi Arabia's Vision 2030, and in an endeavor to develop the debt instruments market, and in order to introduce financial instruments that serve the needs of different investor categories, and based on the Capital Market Law issued by the Royal Decree Number (M/30) Dated 2/6/1424H,
read more
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.
read more
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
read 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.
read 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".
read more
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.
read 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.
read 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.
read 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.
read more