Middle East ETF News Older than One Year
Saudi Arabia instructs shops to give change in coins
July 9, 2013--Shops, pharmacies, groceries and other traders in Saudi Arabia have been instructed by the of commerce and industry ministry to give change in coins instead of chewing gum, disposable napkins, or bottled water, Saudi Gazette has reported.
The ministry said it will launch an awareness campaign under the title "take your change" to educate the consumers to take their change in coins, which represent part of the riyal and not to be content with other alternatives such as chewing gum.
Source: AME Info
Day of the Banks in Riyadh lifts stock market slightly
July 9, 2013--The Saudi Stock Exchange's equity index Tasi closed 0.17% higher at 7,708.52 points on Tuesday.
Saudi Hollandi Bank jumped 2.62%, closing at SR35.30. Earlier in the day, the lender said it earned in Q2 a net profit of SR374.8m, up 8.23% year-on-year. The net income for the first six months is SRSR721m, representing a y-o-y increase of 15.84%. Saudi Hollandi said the increase in operating income lifted the result for both Q2 and H1. Tadawul market bellwether Sabic advanced 0.53% to reach SR95, a one-month high. One day before the start of the Holy month of Ramadan, trading turnover melted down to 137m shares worth SR3.8bn. Market breadth was neutral as 67 shares advanced, while 66 declined.
Source: AME Info
Kuwait market investors book profits ahead of Ramadan
July 8, 2013--The Kuwait Stock Exchange 20 Index lost 52.48 points, closing Monday trading at 7,933.84 points.
IFA Hotels and Resports gained the most (up 4.50% at KD0.465. National Industries Co. posted the biggest decline (down 8.2% at KD0.280).
Source: AME Info
Sabic rises on dividend distribution announcement
July 8, 2013--The Tadawul All-Share Index slipped 0.30% to 7,695.25 points on Monday amid a bearish advance-decline ratio of 37 to 110.
The world's first producer of petrochemicals Sabic advanced 0.53% to reach SR94.50. Earlier in the day, Sabic said it would distribute a total amount of dividends worth SR6bn or SR2 per share. Shares of Mobile Telecommunications Company Saudi Arabia lost 0.51% to SR9.85.
Source: AME Info
Egypt coup d'etat lifts Tadawul exchange, Riyad Bank kicks off earnings season
July 4, 2013--The Tadawul All-Share Index advanced 1.08%, finishing at 7,668.58 points.
This was the first sesion on Thursday ever after King Abdullah issued a decree adapted the Kingdom's weekend to Friday and Saturday like in the other 5 GCC states. Earlier in the day, the monarch and custodian of the two holy mosques welcomed the ousting of Muslim Brotherhood president Mohammed Morsi in Egypt who was on Thursday replaced by the head of the constitutioanl court Adly Mansour by Egypt's military command after weeks of protests. In Riyadh, Sabic advanced 1.36%, closing at SR93.50. Riyad Bank finished flat at SR24.85. Earlier in the day, the lender said it earned in the second quarter SR968m, up 1.79% year-on-year amid a decrease in operating expenses. The net profit in H1 was SR1.919bn, up 5.67% y-o-y.
Source: AME Info
Bahrain Bourse recovers some ground
July 4, 2013--The Bahrain All-Share Index gained 0.21% to reach 1,191.32 points on Thursday, mostly driven by banks shares.
Al Salam Bank surged 2.08% to reach BD0.098. Aluminium Bahrain or Alba was one of the most liquid shares and closed even at BD0.525. Earlier in the day, Alba said it successfully completed the pot lines 1 and 2 of the Rectiformer Replacement project that was completed with over 1 million work hours without a single lost time injury. It is one of the first brown field projects of this magnitude anywhere in the world. The project
Source: AME Info
Doha market adds slightly in dull trading
July 4, 2013--The summer blues engulfed the stock market in Doha on Thursday, sending the QE 20 Index up by 0.05% to reach 9,372.17 points.
Doha Insurance ganed the most (up 2.57%), while market leaders Industries Qatar and Qatar National Bank declined by 0.19% and 0.12%, respectively. Telecom giant Ooredoo (formerly Qtel) slipped 0.16%. Earlier in the day, Ooredoo said that Qtel International Finance Limited, its wholly owned subsidiary, pursuant to the terms and conditions of the notes and the final terms, will pay its global medium term note (GMTN) holders interest payments on 31 July 2013.
Source: AME Info
Abu Dhabi shares swing between gains and losses
July 4, 2013--The ADX General Index sliped 0.04% to 3,562.69 points.
Aldar Properties gained 0.90% to hit Dhs2.26. Dana Gas fell 1.79% to Dhs0.55. Some 91m shares were traded, valued at Dhs193m.
Source: AME Info
Little relief at Dubai market over Egypt
July 4, 2013--The DFM General Index added 0.20% to reach 2,264.14 points after the Egyptian armed forces put president Morsi under house arrest and installed Adly Mansour, the head of the Supreme Constitutional Court as interim president.
The vision of an end of political deadlock in the biggest Arab country by population triggered a relief rally at Middle Eastern markets. Emaar as the most liquid share ended flat at Dhs5.32. Logistics specialist Aramex gained the most (up 5.70
Source: AME Info
Regional woes weigh on Tadawul bourse
July 3, 2013--The Tadawul All-Share Index closed on Wednesday 0.45% lowe at 7,586.31 points.
The turmoil in Egypt which was ongoing during trading on late Wednesday added uncertainty to the market. Egypt's army put president Morsi under house arrest overnight and declared the head of the Supreme Constitutional Court Adli Mansour caretaker leader Sabic slipped by 0.27% to SR92.25. Etihad Etisalat, known as Mobily, closed 0.63% lower at SR80.25. Earlier in the day, Mobily announced the signing of strategic contract with Emaar Economic City (off 1.50% at SR9.95) on Tuesday, July 02, 2013 to deploy, operate, and maintain communication networks within King Abdullah Economic City. Meanwhile, Saudi Arabia's King Abdullah has sent a cable of congratulation to Mansour. "In his message to Mansour, King Abdullah appeal to God to help him "shoulder the responsibility' given to him and to achieve the hopes of his people," Arab News reported.
Source: AME Info
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