Middle East ETF News Older than One Year
Saudi Arabia's Bahri in MoU with Saudi Aramco
August 20, 2013--The Tadawul All-Share Index lost 0.28% to 8,179.9 points on Tuesday.
The National Shipping Co. of Saudi Arabia, better known as Bahri, closed 1.93% lower at SR22.85. Earlier in the day, Bahri said it entered into a Memorandum of Understanding MoU with Saudi Aramco, the kingdom's first energy company and also the biggest oil exploration firm globally, and Sembcorp Marine Ltd., a global marine and offshore engineering group based in Singapore. "Under this MoU the three parties will prepare a detailed feasibility assessment towards the development of a world class Maritime Yard in KSA," said Bahri. "The intended Maritime Yard will provide engineering manufacturing and repair services related to rigs platforms commercial vessels and offshore service vessels. Within Bahri this initiative will be managed by the Gas & Offshore Business Unit currently being established."
Source: AME Info
Lackluster Manama market dips 0.07%
August 20, 2013--The Bahrain All Share Index slipped to 1,201.86 points on Tuesday.
Seef Properties B.S.C surged 1.61% to reach BD0.126. Bahrain Telecom or Batelco dived 2.86% to BD0.34.
Source: AME Info
Abdullah A. M. Al-Khodari rises on backlog buildup
August 19, 2013--The Saudi Arabian Tadawul All Share Index jumped 2.87% to reach SR35 on Monday.
After Sabic reached a 1-year high on Sunday, the world's biggest producer of petrochemicals and metals slipped half a percent to close at SR98.75. Abdullah A. M. Al-Khodari Sons Co. jumped 2.87%, finishing at SR35.90. Earlier in the day, the Al-Khobar-based construction and property maintenance firm said it has received an award letter from the Ministry of Municipal & Rural Affairs (Riyadh Municipality) that has been accepted by the Company on Aug. 18 for Construction of Storm Water Drainage Network in Murooj, Massif and Nakhil Districts in Riyadh in 30 months from the date of site handing over valued at SR125.5m ($33.5m). A further announcement will be made upon contract signing including the expected start of the financial impact. Seventy-five shares advanced, while 63 declined.
Source: AME Info
More Dubai-listed shares head south on weak Asian, European markets
August 15, 2013--The DFM General Index declined by 0.63% to close at 2,631.98 points after the Nikkei 225 Index lost over 2% earlier in the day as the effect of the stronger Yen weighs on Nippon's top exporters such as Sony Corp.
At the DFM, Islamic home developer Deyaar gained the most, up 4.92% at Dhs0.448. After Arabtec Holding failed to crack the resistance level at Dhs2.60 for the second time in six months, the UAE's first construction firm headed down by 2.80% to Dhs2.43. Market breadth worsened again as five shares declined, while 17 advanced. Some 408m shares were traded, valued at Dhs380.2m.
Source: AME Info
Bahrain Bourse bounces back
August 15, 2013--The Manama-based Bahrain All-Share Index closed 0.33% higher at 1,200.88 points on Thursday.
Bahrain National Holding surged 4.17% to reach BD0.50. Islamic financial institution Ithmaar Bank plummeted 3.77% to $0.255.
Source: AME Info
Sabic hits 5-month high, lifts Tadawul market
August 15, 2013--The Tadawul All-Share Index returned into the green on the last trading day of the week, closing 0.56% higher at 8,131.16 points.
Saudi Basic Industries Corporation or Sabic added 0.78% to reach SR97 as the most liquid share. Allied Cooperative Insurance Group declined by 3.94% to SR39.
Source: AME Info
Bahrain Bourse bounces back
August 15, 2013--The Manama-based Bahrain All-Share Index closed 0.33% higher at 1,200.88 points on Thursday.
Bahrain National Holding surged 4.17% to reach BD0.50. Islamic financial institution Ithmaar Bank plummeted 3.77% to $0.255
Source: AME Info
Qatar index's tour above 10,000 points short-lived
August 15, 2013--After closing above 10,000 points for the first time in 5 years, the QE 20 Index shed 1.20%, closing at 9,886.68 points on Thursday.
All sector indices delined, with the exception of the transporation gauge. Market bellwether Industries Qatar closed off 2.03% at QR159.10. Qatar Gas Transport or Nakilat gained the third session straight, finishing up 2.28% at QR19.73. On Wednesday, ratings agency Fitch said it affirmed Nakilat's senior secured debt rating at 'A' and its subordinated debt rating at 'A-' with stable outlooks, respectively.
Source: AME Info
Dana Gas hits one-month low
August 15, 2013--The ADX General Index closed on Thursday 0.08% higher at 3,882.18 points.
Arkan Building Materials hit the top of the charts, advancing 3.95% to reach Dhs0.79. Dana Gas lost 1.61% to close at Dhs0.61. A tiny volume of 40m shares was traded, valued at Dhs134.3m.
Source: AME Info
Lackluster Saudi bourse dips slightly, Sabic ends even
August 14, 2013--The Saudi Tadawul All Share Index declined 0.36% to 8,085.5 points on Wednesday.
Sabic, the Saudi bellwether and world's biggest producer of petrochems, closed unchanged at SR96.25. Saudi Kayan Petrochemical Company. Sabic affiliate Saudi Kayan Petrochemical Company, in which Sabic holds a 35% stake as the biggest shareholder, was the most active share by volumes, closing 2.51% higher at SR12.25. Forty shares advanced, while 88 declined.
Source: AME Info
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