Middle East ETF News Older than One Year
Banks weigh on Bahrain bourse
February 28, 2013--The Bahrain All-Share Index declined 0.67% to 1,089.94 points Thursday.
Nass Corp. gained the most (up 1.83%). Khaleeji Commercial Bank dived 7.50% to BD0.037. Islamic banks Salam Bank Bahrain (off 4.90%) and Ithmaar Bank (2.94% lower) also dragged the Manama-based gauge down.
Source: AME Info
Doha bourse ends 5-day losing streak
February 28, 2013--The QE 20 Index ended up 0.44% at 8,528.58 points.
Qatar National Bank advanced 0.15% to close at QR129. Doha Bank surged 1.82%, finishing at QR44.80. Qatar Insurance fell 2.42% to QR52.50. Qatar National Cement Co. slipped 0.29% to QR104. Earlier in the day, National Cement said Qatar National Cement said the financials for 2012 revealed a net profit of QR425.3m in 2012 versus QR456m in 2011. The company’s earnings per share (EPS) in 2012 amounted to QR8.66 versus QR9.29 in 2011. "The Board of Directors recommended a dividend payout per share of QR6, representing 60% of nominal value," said the firm.
Source: AME Info
Dana Gas shares consolidate above Dhs0.50
February 28, 2013--The ADX General Index declined 0.38% to close at 3.044. 89 points Thursday.
Real estate shares in particular weighed on the gauge, with Aldar Properties (off 1.91%), Sorouh Real Estate (down 1.55%) and Eshraq Properties (8.82% lower) on the retrea, while RAK Properties outperformed (gaining 1.80%). Sharjah-based Dana Gas jumped 2%, finishing at Dhs0.51.
Source: AME Info
Arabtec plummets over 9 pct, names new CEO
February 28, 2013--The DFM General Index closed Thursday trading 0.61% lower at 1,927.10 points.
The UAE's first construction firm Arabtec was in the focus, ending off 9.80% at Dhs2.67. Earlier in the day, Arabtec said it has appointed Hasan Ismaik to replace Riad Kamal as chief executive officer, and said it plans to raise Dhs6.4bn ($1.74bn) through a rights issue and a convertible bond, Bloomberg has reported. Kamal resigned as CEO, the company said, without providing details. Arabtec plans to issue 3.18 billion shares at Dhs1.5 each, the company. It will sell $450m in convertible bonds and pay no dividend for 2012. The funds will be used to fund internal growth, acquisitions and joint ventures, it said. Gains in market heavyweights Emaar (up 1.34%) failed to lift the sentiment at the DFM, where 10 shares advanced, while 20 declined.
Source: AME Info
Banks weigh on Bahrain bourse
February 28, 2013--The Bahrain All-Share Index declined 0.67% to 1,089.94 points Thursday.
Nass Corp. gained the most (up 1.83%). Khaleeji Commercial Bank dived 7.50% to BD0.037. Islamic banks Salam Bank Bahrain (off 4.90%) and Ithmaar Bank (2.94% lower) also dragged the Manama-based gauge down. [AMEInfo.com]
Source: AME Info
Zain KSA extends $2.4bn Murabaha facility for the umpteenth time
February 27, 2013--The Saudi Stock Exchange finished Wednesday trading 0.15% higher at 6,998.33 points.
Mobile Telecommunications Company Saudi Arabia, known as Zain KSA, dived 2.89% to SR8.40. Earlier in the day Zain KSA said the syndicate of financiers of the Murabaha Facility of approximately SR9bn ($2.4bn) has extended the maturity date of its syndicated facility to 27 March 2013, from Feb. 27. "The company is currently negotiating a new long-term financing arrangement that is intended to replace the Murabaha Facility and intends to use the extension period to conclude negotiations and finalise such long-term financing arrangement. Subject to the further consent of the Financiers, the maturity date may be further extended," said Zain KSA in a statement to its shareholders. Further announcements will be made in due course, added the telecom firm.
Source: AME Info
Bahrain market knocks at 1,100 points
February 27, 2013--The Manama-based Bahrain All-Share Index finished 0.11% higher at 1.097.26 points Wednesday.
Gulf Finance House surged 8% to reach $0.135. Arig Insurance Group fell 2.70% to $0.36. Al Salam Bank Bahrain ended off 2.38% at BD0.082. Earlier in the day, Al Salam Bank said it recently distributed first quarterly returns to its investors who participated in the restricted wakala investment. The restricted wakala investment relates to sale and leaseback of a new Boeing 777-300ER to Emirates in Nov. 2012. The quarterly returns translate into an annual net cash yield of 9%.
Source: AME Info
Kuwait market little changed amid global Italy shock
February 26, 2013--The KSE Market Index advanced insignificantly on Tueday, ending at 6,409.04 points.
Asian and European euquity bourses fell sharply on the Italian power deadlock following head-to-head results in the parliamentary elections yesterday. National Bank of Kuwait or NBK added KD0.10 to reach KD1.000. Al Eid Food Co. dived 14.29% to KD0.120.
Source: AME Info
Saudi market falls below 7,000 points
February 26, 2013--The Tadawul Al-Share Index declined by 0.77% Tuesday, closing at 6,988.19 points.
Al Alamiya for Cooperative Insurance Co. gained the most (up 6.40% at QR79). Sabic fell 1.35% to SR91.50. Saudi Hotels & Resort Areas Co. dived 2.21% to close at SR26.60. Earlier in the day, the tourism and hospitality firm that it has awarded on Feb. 25 the contract of finishing works of Future Homes villas project phase II in the Diplomatic Quarter Riyadh to Al Hashimyia contracting Co. The cost of the contract will be SR41.5m for 27 residential villas with execution period of 8 months, the contractor already started the work. It is expected that the project will enhance the companys revenue from the beginning of 2014.
Source: AME Info
Qatar Exchange sayd goodbye to old town, moves to Doha's Corniche
February 26, 2013--The QE 20 Index declined 0.93% to finish at 8,572.37 points.
Earlier in the day, the Qatari bourse said that Thursday Feb. 28 will be the last day of work in its current building in Grand Hamad Street, and that the work in the new headquarters in Al Dana Tower, West Bay, opposite to City Center will start (soft launch) on Monday, March 4, 2013, following banks holiday on Sunday, the 3rd of March. QE will occupy floors from the 1st to the 5th of the main tower along with levels of the annex adjacent to the main building. A temporary hall in the first floor of the tower will be ready on Monday to host the investors. It is to be noted that most of the licensed brokerage companies will gradually open offices in the 1st floor of the main tower to provide regular services to QE investors.
Source: AME Info
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