Middle East ETF News Older than One Year
Gulf Economies Should Diversify to Sustain Strong Future Growth
June 3, 2014--Oil-based growth model in the Gulf led to rapid development, but with cost
Diversification is needed to reduce reliance on oil, support growth and jobs
International experience shows education, competition, incentives are crucial
Economic diversification is vital if the countries of the Gulf Cooperation Council (GCC)-Bahrain, Kuwait, Oman, Qatar, Saudi Arabia,and United Arab Emirates-are to sustain strong growth in the future, a regional conference heard.
Source: IMF
Aljazira Takaful soars, gets nod for insurance products
June 3, 2014--The Saudi Arabian Tadawul All-Share Index slipped by 0.62 per cent to close at 9,838.86 points on Tuesday, June 3.
Aljazira Takaful Ta'awuni jumped 5.93 per cent to close at SAR65.25. Earlier in the day, the Islamic insurance firm revealed in a filing to the market that it has received the green light from Saudi...
Source: AME Info
Tabreed soars on UAE army deal
June 3, 2014--The Dubai Financial Market General Index (DFMGI) remained in a stutter mode, as the gauge fell by 1.52 per cent to 5,072.92 points on Tuesday, June 3. Emaar, as the most liquid share, plummeted by 3.37 per cent to AED10.05.
District cooling specialist National Central Cooling Company, better known as Tabreed, jumped 6.44 per cent...
Source: AME Info
arab luxury world 2014: Women drive the Saudi luxury sector
June 3, 2014--The luxury market is gaining ground in Saudi Arabia and women are driving the fashion and accessories segment, which has the biggest market share in the kingdom's premium goods markets, attendees of arab luxury world conference
-taking place until June 3 at The Westin Mina Seyahi-were told.
The panelists of a breakout session on Saudi consumers, of which three were Saudi women, agrees that, although the Saudi luxury market has a lot in common with the rest of GCC countries', it has is own unique dynamics.
Source: AME Info
Tadawul market even, Mobily plummets
June 2, 2014--The Saudi Arabian Tadawul All-Share Index ended unchanged at 9,864.61 points on Monday, June 2.
Market bellwether SABIC slipped by 0.10 per cent to SAR116. The shares of telecom operator Etihad Etisalat or Mobily plummeted by 4.34 per cent to SAR88.75. Earlier in the day, Mobily revealed, with reference to the announcement by Etihad Atheeb
Source: AME Info
Emaar gains on $1.5 billion loan clarification
June 2, 2014--The Dubai Financial Market General Index (DFMGI) rebounded by 1.88 per cent to close at 5,151.21 points on Monday, June 2.
Emaar surged 3.50 per cent to hit AED10.40. Earlier in the day, the UAE's first developer revealed that it has raised Shari'a-compliant financing through local UAE banks worth $1.5 billion for a period of
Source: AME Info
Bahrain bank shares keep market index at bay
June 2, 2014--The Bahrain All-Share Index closed 0.15 per cent lower at 1,458.04 points on Monday,June 2.
Aluminum Bahrain edged up by 0.45 per to hit BHD0.446. Islamic Bank Al Salam Bahrain and Ahli United Bank fell by 0.87 per cent and 0.58 per cent, respectively.
Source: AME Info
Bourse sheds EGP 15.99bn; capital gain tax takes the blame
Responding to losses, Egyptian Exchange suspends trading for 30 minutes
June 1, 2014--The Egyptian stock market witnessed a 4.22% plummet in its benchmark index, the EGX-30, dropping from Thursday's 8242.94 points to 7894.73, and shedding EGP 15.99bn Sunday.
Last Thursday, the market loss registered over EGP 12bn.
Small and medium enterprises Index EGX-70 dropped by 4.88% and reached 560.73 points, compared to 589.50 points registered at the end of last week's trading.
Source: Daily News Egypt
Market surges 5.27% to near 13,700 mark on MSCI index inclusion
May 31, 2014--Qatar Stock Exchange (QSE) witnessed an unprecedented upward rally and volumes on the last day of the week, coinciding with its inclusion in the global index compiler MSCI emerging market (EM) index.
Foreign institutions' net buying witnessed an almost seven-fold jump, which helped the market surge 5.27% to near the 13,700 mark during the week that saw QSE being formally inducted into the emerging market index.
Source: Zawya
Financials lift Kuwait Stock Exchange
May 29, 2014--The KSE market index added 0.45 per cent, closing at 7,291.09 points on Thursday, May 29.
The biggest lender in the northern Gulf state National Bank of Kuwait added one percent to reach KD1.00. Investors Holding Group was the most liquid share, edging up by 6.25 per cent to hit KD0.17.
Source: AME Info
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