Middle East ETF News Older than One Year
TASE Launches 3 New Corporate Bond Indices and Upgrades Bond Index Methodology
March 21, 2012--At its meeting of 1/3/2012, the Tel Aviv Stock Exchange (TASE) Board of Directors approved the launch of three new Tel Bond indices, and amendments in the methodology for calculating corporate bond indices. This was held in order to improve the liquidity of TASE's corporate bonds market.
The new Tel-Bond indices, scheduled for launch on 1 May 2011, are:
Tel Bond CPI Linked Index – comprises all CPI-linked corporate bonds included in the bond index universe, which is being launched under the new methodology.
Tel Bond CPI Linked SmallCap Index– comprised of all CPI-linked bonds included in the bond index universe that are not constituents of the Tel Bond-60 index.
Tel Bond CPI Linked Banks Index - comprised of all CPI-linked corporate bonds issued by banks that are included in the bond index universe.
Source: Tel Aviv Stock Exchange (TASE)
Dubai market rebounds as U. S. signals some detente towards Iran
March 21, 2012--The DFM General Index rose to 1,655.50 points Wednesday, driven by gains in bellwether Emaar Properties (up 0.67% to Dhs2.99), DFM (2.68% higher) and Tabreed (gaining two percent).
Earlier in they day the U. S. state department declared it exempted 11 states from tough sanctions which would be imposed uopn them, in case they were not reducing oil imports from Iran. The U. S. move slightly reduced the 'fear factor' at Arab and Western markets. Air Arabia fell 0.56%. On Tuesday, Air Arabia CEO Adel Abdullah Ali told Ameinfo.com he was positive about 2012 in relation to passenger figures but added that there was some uncertainty about oil prices. Some 290m shares were traded, valued at Dhs340m.
Source: AME Info
Abu Dhabi exchange adds slightly amid lacklustre trading
March 21, 2012--The ADX General Index advanced a by a quarter percent to close at 2,593.25.
Telco giant Etisalat closed even. Earlier in the day, the annual general meeting approved the distribution of dividends of 35% of the nominal value of the share. First Gulf Bank and Abu Dhabi Commercial Bank regained some territory, while Sorouh Real Estate, as the most liqud share fell 2.30%. Some 56.1m shares were traded, valued at Dhs90.2m.
Source: AME Info
Kuwait bourse gains, after EFG Hermes said 7,000 points-lvel is possible in medium-term
March 21, 2012--The Kuwait Stock Exchange (KSE) Market Index closed 0.33% to reach 6,249.4 points, as shares gained across the board.
Investmentbank EFG Hermes said Tuesday, "We continue to hold the 6540 +/- [new 52 week high] as medium term forecast with potential hike towards the 7000 mark." Dubai-based Emirates NBD's CIO Private Banking Gary Dugan said in his weekly commentary, investors shall "enjoy the rally as long as it lasts." Year-to-date, the KSE has gained 7.50%.
Source: AME Info
Batelco, Al Baraka Banking Group push higher at Bahrain Bourse
March 21, 2012--The Bahrain All Share Index closed 0.06% higher at 1,147.65 points Wednesday.
Islamic bank Al Baraka Banking Group advanced 1.90%, while Bahrain Telecom or Batelco added half a percent. Earlier in the day Al Baraka announced its Annual General Meeting of Al Baraka Banking Group approves cash dividend payouts and bonus shares to shareholders of $175.36m. Shares of Aluminium Bahrain slipped 0.90%, weighing on the Manama-based gauge.
AME Info
Emaar falls below three Dirham, as profit booking at Dubai market continues
March 20, 2012--The DFM General Index fell 1.48% Tuesday, closing at 1,643.31 points, as market bellwether Emaar ended off 2.62% at Dhs2.97.
Gulf General Investment Co. or GGICO added 2.86%. Ten shares advanced, while 19 declined. Some 250m shares were traded, valued at Dhs303m.
Source: AME Info
NASDAQ Dubai's primary listed shares post losses
March 20, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed at 1642.850 today, down 1.81%, from the previous close. Jewelry trader Damas International lost the most (off 2.56%), while interior designer Depa Limited dived 2.17%.
Earlier in the week, The National reported, quoting sources 'familiar with the issue' Depa might de-list its shares in order to list them at another 'more liquid market', mentioning the exchange in Singapore or the DFM in Dubai. Asked by AMEinfo.com. on these rumors, a NASADAQ Dubai spokesman declined to comment. Shares of global maritime port operator DP World fell back to $11 (down 1.35%).
Source: AME Info
Arcapita shockwaves weigh on Saudi bank shares
March 20, 2012--The Saudi Arabian Tadawul market fell 1.28% to 7,518.66 points Tuesday. After Bahrain-based investment bank Arcapita filed for bankruptcy under chapter 11 New York on Monday, Riyadh-listed banks posted losses as a direct reaction.
Alinma Bank, as the most liquid share fell 3.70%, while Al Rajhi Bank slipped 0.32%. Arab National Bank ended 1.24% lower. Dairy producer Sadafco gained 0.45%. Earlier in the day, Sadafco announced in a statement to the Tadawul market, it decided to renew the existing Murabaha deposit of 150 million Saudi Riyals maturing on 29 March 2012, with United Gulf Bank in the Kingdom of Bahrain.
Source: AME Info
UAE economy growth seen at nearly 4% in 2012
March 20, 2012--The UAE's economy is likely to expand nearly 4 percent this year, the Gulf country's Economy Minister Sultan bin Saeed al-Mansouri said on Tuesday.
"The UAE economy is expected to grow by almost 4 percent in 2012," he told a conference in the UAE capital. "This is an estimate; by the end of the year it could be better."
Last November, Mansouri had said Europe's debt crisis and weakness in the US economy might slow the UAE's growth to around 3 percent in 2012.
Source: Arabian Business
Abu Dhabi bourse falls the fourth day straight on lower oil prices
March 20, 2012--The ADX General Index declined 0.70% to 2,586.53 points. The exchange correlates with oil prices, because around seven percent of the world's known global reserves are located in the sheikhdom.
Oil prices declined slightly Tuesday, after Saudi Arabia said it aims to drag prices down by pumping more quantities of the 'back gold' into the world market, the Financial Times reported. Gulf Cement Company posted the largest decline (off 8.50%). National Marine Dredging Co. gained the most (up 9.62%). Around 86m shares were traded, valued at Dhs129m.
Source: AME Info
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
