Middle East ETF News Older than One Year
Five Abu Dhabi blue chips close unchanged
May 28, 2012--The ADX General Index declined 0.15% to 2,456.68 points. Only four shares gained in that more than lacklustre session on Monday.
Islamic insurer Methaq Takaful advanced two percent to reach Dhs1.01. The two largest developers, Aldar Properties and Sorouh Real Estate and the lagrst lender, National Bank of Abu Dhabi, ended flat. First Gulf Bank also finished even. Telco giant Etisalat dipped slightly to close at Dhs8.76. Around 38m stocks were traded, valued at Dhs52.6m.
Source: AME Info
Arabtec Construction rises on new contracts awarded in Dubai
May 28, 2012--The Dubai benchmark index DFMGI fell 0.22% to close at 1,477.04 Monday, although bellwether Emaar gained 0.34% to hit Dhs2.91.
Dubai Islamic Bank (down 2.10% at Dhs1.89) and Tabreed (off 2.44% at Dhs1.20) weighed on the gauge, while low trading volumes led to a volatile trading session. Arabtec Construction gained 1.05% to close at Dhs2.90. Earlier in the day, Arabtec said that one of its subsidiaries, Arabtec Engineering Services was awarded three contracts in Dubai with a total value of Dhs47.2m. The contracts included sewerage and drainage system works and road improvements.
Source: AME Info
Lack of catalysts leave Bahrain Bourse flat
May 28, 2012--The Bahrain All-Share Index closed at 1,143 points Monday.
Bahrain Telecom and United Paper Industries ended likewise even, while BBK jumped 2.58% to hit BD0.398. Islamic financial institution Ithmaar Bank plummetd 6.25% to $0.15.
Source:AME Info
New homes in Bahrain being sold 'at loss'
May 28, 2012--According to a report by property consultancy CBRE, Bahrain's residential property market remains 'severely' depressed, amid continued uncertainty surrounding the political and economic environment,
The National has reported. New homes that are coming into the market are, in some cases, being sold at a loss, the report said. "Several middle-income housing projects have been launched in Bahrain in the last three months, and sales have reportedly been brisk to date," it said. "However, analysis reveals that some of these projects are effectively being sold at a loss, or at best, cost price, in order to stimulate the market and raise the profile of the ongoing master-planned projects of which they are merely a very early phase."
Source: AME Info
Tadawul bourse falls back, closes below 7,000 points
May 28, 2012--The Tadawul All-Share Index ended off 0.35% at 6,989.45 points Sunday.
Petrochemicals producer and market leader Sabic slipped 0.80% to hit SR93.75. Saudi Enaya Cooperative Insurance Company rose to a six-week high, finishing at SR49.30. Thirty-five shares advanced, while 95 declned and 21 closed flat amid low trading turnover.
Source: AME Info
Jordan's uranium reserves 'larger than previously believed'
May 27, 2012-The Jordan Atomic Energy Commission (JAEC) has announced the kingdom's uranium deposits are larger than previously believed, raising expectations for the potential of a Jordanian uranium industry,
Jordan Times has reported. Ongoing exploration in an 18-square-kilometre plot in the central region has revealed the presence of up to 25,000 metric tonnes of yellowcake; over 10,000 tonnes more than previously forecast, JAEC said. "We had roughly underestimated the quality and concentration of uranium on the top layers, and based on this discovery, we need to revise our total numbers," JAEC commissioner Khaled Toukan told the daily. [AMEInfo.com]
Source AME Info
Kuwait Stock Exchange falls after Minister of Finance's resignation
May 27, 2012-The KSE Market Index closed one percent lower at 6,277.21 points Sunday after the northern Gulf state's Minister of Finance Mustapha al-Shamali resigned last Thursday "following hearings in Parliament where he was accused of financial violations by opposition MPs," the DIFC Weekly Economic
Commentary reported earlier in the day. Commercial Bank of Kuwait or CBK dived 3.9% to KD0.750. Real Estate Trade Centers or Marakez plummeted 8.70% to KD0.052. The country's largest lender by assets and makret value National Bank of Kuwait resisted the negative sentiment and added 1.9% to hit KD1.060.
Source: AME Info
Vodafone Qatar rises to multiple-year high
May 24, 2012--The Qatar Exchange 20 Index slipped insignificantly to 8,462.91 points.
Shares of the country's second telco operator Vodafone Qatar advanced 0.21% to reach QR9.72. Vodafone Qatar has said the total number of its customers in the country rose 11% in a year to reach 837,233 in March 2012, or 47% of Qatar's population, Gulf Times has reported. The growth has been driven by enhancements to the company's mobile network and the launch of innovative promotions and services such as the 'Swalif' local calling offer and prepaid BlackBerry plans, Vodafone Qatar said. The firm said its financial results for the year ended March 31 will be announced following a board meeting on June 7.
Source: AME Info
Property shares weigh on Abu Dhabi exchange
May 24, 2012--The ADX Index declined 0.44% to close at 2,464.68, as dvelopers Aldar Properties,
Sorouh Real Estate fell 0.93% and RAK Properties dived by 2.70%. Market bellwether Emirates Telecommunications or Etisalat bucked the trend, gaining 0.11%. Trading remained dull due to the ongoing uncertainty over Greece's disposition in the Euro zone. Around 30m shares were traded, valued at Dhs45.22m.
Source: AME Info
Dubai market ends tricky week flat
May 24, 2012--As many investors continued to stay on the sidelines, the Dubai Financial Market General Index (DFMGI) ended unchanged at 1,479.67
Thursday as Euro zone's dispute over the issuance of Euro bonds kept buyers away. While Emaar Properties retreated to Dhs2.88, Commercial Bank of Dubai or CBD and bank Emirates NBD added 1.79% and 1.11%, respectively. Ten Shares gained, 14 declined and two closed even. Over the week, Dubai's local exchange added a quarter percentage point, which marks the first week recovery in a month.
Source: AME Info
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