Middle East ETF News Older than One Year
NASDAQ Dubai posts advances amid rebound in Europe
January 17, 2012--The FTSE NASDAQ Dubai UAE 20 Index ended 1.25% higher at 1337.53. DEPA Limited, the Dubai-based interior designer, gained the most (up 5.41% at $0.39).
DP World added 1.50%, while jewellery trader Damas advanced 1.40%. Bargain hunters entered the spot at bourses in Europe, improving the sentiment in Dubai. Other markets in the GCC and the Near East, howeever, remained fickle on Tuesday.
Source: AME Info
DFM shares rebound amid increasing demands for UAE stock markets merger
January 17, 2012--The Dubai Financial Market (DFM) General Index closed 0.70% higher at 1,310.40 points. Shares of the DFM, the only Arab bourse which is publicly listed, soared 4.28% to reach Dhs0.707.
Gulf News reported about increasing demands from bankers and economist in the UAE to consolidate stock markets in Dubai and Abu Dhabi. According to the Abu Dhabi-based The National, UAE-based brokers also asked stock market authorities to lower trading fees, "as these fees are 15 times higher than in Saudi Arabia." Both measures could attract more capital to the UAE equity markets. Emaar Properties gained 0.83%, closing at Dhs2.43. Some 64m shares were traded, valued at Dhs59m.
Source: AME Info
Saudi Arabia may open stock market to foreigners this year
January 17, 2012--Foreign investors are expected to be allowed to invest directly in Saudi Arabia’s $340bn stock market for the first time later this year, the Financial Times has reported.
International access to the Saudi stock market could happen “as early as the first half of this year or even the first quarter,” said Sam Vecht, a senior emerging-markets fund manager at BlackRock.
Source: AME Info
Kuwait market index reaches 5,800
January 18, 2012--The KSE Market Index added 0.20% Wednesday. All sector indexes, except the banking segment, gained value. Rising oil prices, climbing above $101 per barrel (U. S. crude) today, helped the KSE to remain on a growth track.
The State of Kuwait's federal budget relies 95% on oil revenues. "As emerging market central banks move to cut rates we expect a more sustained rally in commodities," says Gary Dugan, CIO Private Banking at Emirates NBD in Dubai in his weekly commentary.
Source: AME Info
Saudi Arabia targets $100 crude price
January 16, 2012--Saudi Arabia is aiming to keep oil prices at around $100 a barrel, a third above its previous public target,
in a sign that Riyadh needs higher oil revenues to sustain a big hike in public spending.
Source: FT.com
Kuwait's customer satisfaction index (SHCSI) rises in 2011
January 16, 2012--Kuwait: Customer satisfaction in Kuwait rose slightly to 7.71 points in 2011 from the previous year,
an increase of 0.03 points that was led by an overall customer satisfaction increase in 12 of the 15 measured industry categories, said Service Hero, which conducts the Service Hero Customer Satisfaction Index (SHCSI) annually. [AMEInfo.com]
Source: AME Info
Dubai market meltdown continues
January 16, 2012--The DFM General Index lost another one per cent Monday, closing at 1,301.24 points. DFM shares plummeted to an alltime low at Dhs0.678.
Only three shares gained, among them Air Arabia, closing half a per cent at Dhs0.568. Ajman Bank added 0.13%, finishing at Dhs0.80. Earlier in the day the Islamic bank announced that its CEO Mubashar Khikhar has resigned for personal reasons. Mohammed Amiri was named acting CEO Some 72.8m shares were traded, valued at Dhs73.4m.
Source: AME Info
Etisalat shares fall below nine Dirham as global stock exchanges fickle
January 16, 2012--The Abu Dhabi bourse's ADX General Index fell 0.83% to 2,324.73 points as energy heavyweight
Dana Gas plummeted 8.11% to Dhs0.34. Market bellwether Etisalat, the UAE's first telecom firm lost Dhs0.05, ending at Dhs8.98. Regional uncertainties over the tensions between Iran and the U. S. weighed on the sentiment. Some 67.6m shares were traded, valued at Dhs73.2,m.
Source: AME Info
Qatar Exchange bucks regional downtrend
January 16, 2012--The Doha-based Qatar Exchange added 0.03% to reach 8,640. 36 points.
The gauge opened higher but eventually lost steam and ended alomst even. Qatar Islamic Bank finished 0.12% higher at QR83.30. Market bellwether Industries Qatar fell 1.14% to QR130.00.
Source: AME Info
DP World shares stay firm, despite regional market storm
January 16, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed off 1.37% at 1320.96 points. The index tracks 20 liquid stocks listed on DFM, the Abu Dhabi Securities Exchange and NASDAQ Dubai.
It has been designed as a hedging and investment mechanism for GCC and international investors Global maritime port operator DP World closed even at $10.10. Damas Jewellery fell 2.78% to $0.35, while interior designer Depa Limited declined 2.63% to $0.37.
Source: AME Info
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