Middle East ETF News Older than One Year
Saudi Cement Company falls on slightly higher net income
February 11, 2014--The Tadawul All Share Index declined by 0.17 per cent to 8,859.20 points on Tuesday, February 11.
Saudi Cement Company closed 1.34 per cent lower at SAR110.75. Earlier in the day, the firm said in a filing to the exchange that its net profit amounted to SAR1.124 billion ($306.51m) in 2013, representing an uptick of ...
Source: AME Info
Bank Muscat accelerates exit from Indian broker firm
February 11, 2013--The Omani stock market index MSM lost 0.23 per cent to close at 7,143.28 points on Tuesday, February 11.
Bank Muscat declined by 1.17 per cent to RO0.676. The lender said in a filing, in line with earlier communication to the markets, that it has begun the process of exiting its investment in Mangal Keshav...
Source: AME Info
Banks and developers boost Qatar Exchange
February 11, 2014--The QE 20 Index added 0.50 per cent to 11,361.62 points on Tuesday, February 11. Qatar National Bank surged by 2.04 per cent to close at QAR185.10.
Its rival, Commercial Bank of Qatar, fell by four per cent to QAR70. Market bellwether Industries Qatar gained 0.75 per cent, reaching QAR175.30...
Source: AME Info
Abu Dhabi market rally halted
February 11, 2014--For the first time in five trading sessions, the Abu Dhabi market index ADXGI retreated, closing 0.50 per cent lower at 4,871.55 points on Tuesday, February 11.
The shares of Abu Dhabi National Takaful gained the most, edging up by 14 per cent to AED6.10. Dana Gas fell by 1.10 per cent to AED0.91. Aldar...
Source: AME Info
DFM shares soar on trading interest
February 11, 2014--The Dubai Financial General Index DFMGI opened weaker today, February 11, but eventually turned into the green and closed 0.98 per cent higher, at 4,065.29 points.
DFM, the only Arab bourse where shares are listed publicly, jumped seven per cent to hit AED3.06. The local bourse of Dubai has witnessed a steep surge in trading...
Source: AME Info
Northern Region Cement joins Saudi earnings spree
February 11, 2014--The Tadawul All Share Index gained 0.10 per cent to 8,837.95 points on Monday, February 10.
Northern Region Cement added 0.20 per cent to SAR24.95. Earlier in the day, Northern Cement said that its net income in 2013 surged by 151 per cent to SAR234 million ($63.18m). Market bellwether SABIC closed even at SAR111.75. Since...
Source: AME Info
CBQ shares dive as annual profit retreats
February 10, 2014--The QE 20 Index climbed 1.02 per cent to 11,305.87 points on Monday, February 10. The country's second lender Commercial Bank of Qatar (CBQ) dived four per cent to QAR70.
Earlier in the day, CBQ said that the financials for 2013 revealed a net profit of QAR1.605 billion in 2013 versus QAR2.012bn in 2012. Profit for the fourth...
Source: AME Info
DSI expands footprint in Eastern Europe
February 10, 2014-- The Dubai Financial General Index DFMGI gained 1.29 per cent, reaching 4,025.69 points on Monday, February 10.
It was the first to close above 4,000 points in more than six years. Drake and Scull International (DSI) was the most liquid share, ending up 4.76 per cent at AED1.76.
Source: AME Info
UAE markets end the week in positive territory
February 7, 2014--UAE markets ended the week higher on Thursday with Dubai's benchmark stock index surging more than 4% compared to a one per cent rise in the capital's measure.
The Dubai Financial Market General Index rose 1.45 per cent to 3931.44 as volumes and turnover fell to 2.67 from Wednesday's Dh3.25 billion. Total volume traded stood at 1.27 billion shares. Much of the trading was driven by investors buying shares of Emaar Properties, the bonds of which was upgraded on Wednesday to investment grade by ratings agency S&P, with a stable outlook. The stock jumped 4.67 per cent to Dh8.30.
Source: Zawya
Slow Growth in the Middle East and North Africa Region Calls for Bold Approach to Economic Reform
A short term focus on political and security concerns has stood in the way of the structural reforms needed for growth and stability.
February 7, 2014-- Ongoing regional tensions, together with a challenging external environment, have hit the economies of the Middle East and North Africa (MENA) region hard. Economic growth is slowing, fiscal buffers are depleting, unemployment is rising, and inflation is mounting in seven transition countries in the region.
Long overdue reforms, that could help spur growth and create jobs, have continued to be delayed to avoid further social and political discontent. The World Bank Group’s latest Quarterly Economic Brief argues that these countries should seize the opportunity to advance structural reforms needed to break the vicious circle of slow growth and political instability.
view the World Bank MENA Quarterly Economic Brief
Source: World Bank
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