Middle East ETF News Older than One Year
Bargain hunters send Bahrain Bourse slightly higher
April 18, 2013--The Bahrain All-Share Index advanced 0.10% to hit 1,093.28 points Thursday.
Bahrain Commercial Facilities gained the most (up 4.27% at BD0.610). National Bank of Bahrain or NBB gained 2%, closing at BD0.510. Year-to-date, the Manama equity gauge surged by 2.60%.
Source:AME Info
Sabic hits 1-month low, Petrochem reduces Q1 loss significantly
April 16, 2013--The Tadawul All-Share Index fell 0.68% to 7,096.99 Tuesday.
Market bellwether Sabic slipped 1.10% to SR92. Its rival National Petrochemical Company or Petrochem ended down 0.77% to SR19.30. Earlier in teh day, Petrochem said its net loss for the first quarter was SR1.3m a decrease in losses of 94% year-on-year. The main reason for the decrease in losses and the start of operating profits in the first quarter of 2013, said Petrochem, "is that the Saudi Polymers company had started up operations on Jan. 19 2013 after project maintenance shutdown."
Source: AME Info
Kuwait Stock Exchange shaves 7,000 points
April 16, 2013--The KSE Market Index gained 1.32% Tuesday, closing at 7,043.84 points as shares advanced across all sectors with the exception of lenders.
Gulf Investment House was among the top gainers, closing up 8.93% at KD0.061. National Bank of Kuwait, the Northern Gulf state's first lender fell by KD0.010 to KD0.940.
Source: AME Info
Zain KSA net loss narrows further
April 15, 2013--The Tadawul All-Share Index closed 0.70% lower at 7,145.6 points Monday as global markets were unsettled by China's GDP y-o-y growth of 7.7% in Q1, lower than economists expected.
Shares of Mobile Telecommunications Company Saudi Arabia, known as Zain KSA, declined 0.60% to close at SR8.25. Earlier in the day, the telecom firm said its net loss during Q1 amounted to SR398m, as compared to SR420m for the same quarter last year, representing a decrease in net loss of 5% and a decrease of 10% quarter-on-quarter. Zain KSA said a decline of financial charges by 25% helped to shrink the net loss. On April 3, Zain KSA extended the maturity of a $600m Islamic financing facility for the umpteenth time. The new deadline is May 1, 2013. Since its launch in Dec. 2008, Zain Ksa, which is owned 37% by Kuwait's Zain, has not generated profits.
Source: AME Info
Losses across the board keep Bahrain bourse at bay
April 15, 2013--The Bahrain All-Share Index finished Monday trading 0.40% lower at 1,087.63 points.
Islamic investment bank Gulf Finance House lost the most (off 7.14% at $0.13). Bahrain Telecom (Batelco) and Aluminium Bahrain (Alba) fell both by half a percentage point.
Source: AME Info
Qatar Insurance delivers good news while global markets retreat
April 15, 2013--The QE 20 Index finished 0.60% lower at 8,333.11 points Monday.
Market heavyweight Industries Qatar posted the second highest day-loss, ending off 1.70% at QR151.20. Qatar Insurance (QI) posted the second highest gain, ending up 1.50% at QR54.10. Earlier in the day, QI said in the 3-month period ended March 31 it earned a net profit of QR281.6m in comparison to QR207.6m for the corresponding period in 2012.
Source: AME Info
Egypt's Al-Azhar approves Sukuk law
April 13, 2013--Egypt's Al-Azhar has approved a law allowing the government to issue Islamic bonds, but said a few changes would have to be made first, Reuters has reported.
"The authority announces that this project, after making all the changes that were decided by the authority, will be compliant with the principles and provisions of Islamic Shari'ah," it said, without giving details on the changes. The leading Islamic authority had protested when the law was passed in March by the parliament, saying its top scholars should have been consulted.
Source: AME Info
Kuwait equity index knocks at 7,000 points
April 11, 2013--The KSE Market Index advanced 0.43% to reach 6,977.73 points.
Burgan Bank gained 1.81%, closing at KD0.560. Market bellwethers National Bank of Kuwait and Zain Telecom closed flat at KD0.930 and KD0.730, respectively.
Source: AME Info
DP World gains the 5th session straight
April 11, 2013--The FTSE NASDAQ Dubai UAE 20 Index closed 0.47% higher at 2,333.55 points Thursday.
DP World stabilised at a near-5 year high at $15.41.
Source: AME Info
ADIB on the rise, Dana Gas hits 4-week high
April 11, 2013--The Abu Dhabi equity index rose 0.33%, finishing Thursday at 3,127.36.
Abu Dhabi Islamic Bank or ADIB soared 1.40% to Dhs3.65. Earlier in the day, ADIB said it has increased its shares in favour of Emirates International Investments Co. LLC. Sharjah-based oil and gas firm Dana Gas jumped 4.17% to Dhs0.50.
Source: AME Info
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