Middle East ETF News Older than One Year
Sahara Petrochemicals closes higher, restores production at affiliate
September 18, 2013--The Tadawul All-Share Index closed 0.40% lower at 7,998.21 points.
Market heavyweight Sabic lost 1.10% to SR97. Shares of Sahara Petrochemical Co. advanced 0.62% to reach SR16.30. Earlier in the day, the firm said it successfully completed maintenance work at its affiliate Al Waha Petrochemicals after following a brief shutdown which started on Sept. 8. Sahara said in the filing to the Tadawul bourse that the production of Al Waha plant till August 2013 is over the plan with production of 306,000 tones.
Source: AME Info
Qatar Exchange advances slightly
September 18, 2013--The QE 20 Index added 0.27% on Wednesday, closing at 9,833.10 points.
In a lackluster session, Qatar National Bank added 0.17% to reach QR175. Market bellwether Industries Qatar slipped 0.10% to QR153.60.
Source: AME Info
Bahrain Bourse gains the fourth session straight
September 18, 2013--The Bahrain All-Share Index closed at 1,193.12 points on Wednesday.
Shares performed mixed with Seef Properties jumping 3.76% to BD0.138. Aluminium Bahrain added 0.90% to BD0.565. Bahrain Telecom, better known as Batelco, was flat at BD0.34. Earlier in the day, Batelco said it has signed signed a memorandum of understanding (MoU) at the Bahrain-China Business Forum in Beijing, China with Huawei, China's leading global information and communications technology (ICT) solutions provider "to further enhance their long standing relationship." Huawei has been a partner of Batelco for a long time and provides various ICT solutions to support Batelco's services to its customers, including work on the country's nationwide next generation network and high speed internet broadband, said Batelco in a filing to the stock market in Manama.
Source: AME Info
'Wait-and-see' -attitude drags Saudi bourse slightly down
September 17, 2013-The Tadawul All-Share Index closed 0.50% lower at 8,030.58 points on Tuesday, investors preferred to stay on the sidelines while the 2-day FOMC meeting of the U. S. Federal Reserve started, with market widely expecting a slight tapering of the monetary easing policy.
Sabic retreated to SR98 (off 0.25%). Filing & Packing Materials Manufacturing Co. or FIPCO posted the biggest uptick (up 5.40% at SR49.10.
Source: AME Info
South Korean, Iranian stock exchanges to ink cooperation pact
September 16, 2013--The Central Securities Depository of Iran (CSDI) has said a memorandum of understanding is set to be signed today with South Korea, paving the way for cooperation between stock exchanges of the two countries, Fars news has reported.
The agreement between CSDI and Korean Stock Depository (KSD) "will cover cooperation in vast areas such as training, manpower development, consultation and exchange of information," said head of the CSDI, Hamed Soltaninejad. The volume of non-oil trade transactions between Iran and South Korea stood at $6.2bn in 2012.
Source: AME Info
Saudi Stock Exchange consolidates above 8,000 points
September 16, 2013--The Tadawul All-Share Index gained 0.45% to reach 8,070.59 points on Monday.
Aljazira Takaful Taawuni Company was the most liquid share, closing 0.80% higher at SR64. Market bellwether Sabic dipped 0.51% to SR98.25. The shares of United Electronics Company or Extra fell 0.63% to SR118.50. Earlier in the day, Extra announced the opening of two new stores in Riyadh and Makkah City, bringing the total store network to reach 34 in the Kingdom.
Source: AME Info
Qatar bank shares post losses
September 16, 2013--The QE 20 Index slipped 0.20% to 9,762.70 points on Monday.
The two biggest lenders in the gas-rich Gulf state Qatar National Bank, Commercial Bank of Qatar and Qatar Islamic Bank all lost 0.30% in value. United Development Company advanced 0.42% to hit QR21.72.
Source: AME Info
ADCB buys more shares back
September 16, 2013--The ADX General Index closed a lackluster trading session on Monday 0.10% lower at 3,783.87 points.
Developers weighed on the gauge as Aldar Properties (down 0.75%), Eshraq Properties (off 2.63%) and Ras al-Khaima (RAK) Properties (1.61% lower) posted losses. Financial performed overall a bit better with National Bank of Fujairah (up 14.77%) and leasing specialist Waha Capital (2.17% higher) posted gains. Abu Dhabi Commercial Bank, better known as ADCB, closed unchanged. Earlier in the day, ADCB said in a filing to the ADX that since its share buyback program approved by the Emirati securities regulator SCA in Jan. 2013, a total of 342,826,737 shares have been bought back. 1,426,063 shares have been bought back today on Sept. 26. The purchase price for every deal was Dhs4.98. The remaining number of shares as per SCA approval stands at 216,733,001, said ADCB.
Source: AME Info
Emaar, Arabtec dip and drag Dubai market down
September 16, 2013--Despite backwind from Asian markets, the DFM General Index fell by 0.52% on Monday to close at 2,646.10 points amid volatile trading.
Market bellwether Emaar Properties declined by 1.16% to Dhs5.95. Arabtec Holding fell 1.20% to Dhs2.47. Drake and Scull International or DSI gained 1.70% to reach Dhs1.21. Earlier in the day, DSI said it has secured a construction contract worth Dhs1.28bn ($350bn) in Algeria. DSI Chief Corporate Affairs Officer Zaina Tabari said further details on the project would be given shortly. As of June 30 2013, DSI has built up a record backlog of Dhs11.7bn ($3.19bn). Market breadth turned bearish at the DFM as 7 shares advanced, while 20 declined in value.
Source: AME Info
Batelco expands network services in Europe
September 16, 2013--The Bahrain All-Share Index gained 0.45% to reach 1,191.01 points on Monday.
Bahrain Telecom or Batelco closed 0.60% higher at BD0.34. Earlier in the day, Batelco said it established a direct interconnection with Epsilon's Global Network Exchange in London and Paris. "With Batelco preconnected, Epsilon can offer its customers network connectivity to the Middle East via the Batelco network as well as carrying Middle Eastern telecoms traffic globally. Customers of Batelco in turn have access to Epsilon's 500+ preconnected network operators around the world," said the firm in a filing to the market in Manama.
Source: AME Info
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