Middle East ETF News Older than One Year
Is Islamic Finance ready for more standardization?
January 2, 2011--As new market participants enter the scene, Shariah banking continues to grow despite the threat of a global recession. But is the industry also progressing in terms of unity and transparency?
When bankers from East and West gathered in Manama at the 18th Annual World Islamic Banking Conference in November 2011, one topic was prevalent at nearly all discussion rounds: standardization.
Source: AME Info
Qatar Exchange adds slightly, as market revamps listing and IPO rules
January 02, 2012--The Qatar Exchange (QE), the only Arab stock exchange which gained in 2011 (up one per cent) ended 0.10% higher at 8,786.07 points Monday. The banking and financial sector was the only advancing segment.
The Qatar Financial Market Authority (QFMA) said it has introduced new rules for IPOs and secondary listings, Gulf News reported. According to Nasser Ahmed Al Shaibi, CEO of QFMA, the new rules have been designed in to attract small- and medium-sizes (SME) enterprises. The country's largest lender Qatar National Bank or QNB added 0.66% to reach QR153. According to National Bank of Abu Dhabi's latest research report on Qatar, Qatari banking assets were estimated at $177.9bn, down 0.3% month-on-month.
Source: AME Info
Bahrain Bourse falls half a per cent, as trading activity remains low
January 02, 2012--The Bahrain All Share Index fell 0.45% to close at 1,138.51 Monday. Bahrain Telecom, known as Batelco, advanced half a per cent, ending at BD0.394.
Earlier in the day, Batelco announced the introduction of its next-generation fibre-based access network in selected areas of Bahrain to ensure the delivery of cutting-edge communications services. The network, which is capable of providing bandwidth reaching up to 2.5GB per customer, will ensure the delivery of advanced Triple Play solutions, Batelco said. Islamic bank Al Baraka Banking Group dived 8.26% to finish at $1.00. Earlier in the day, Al Baraka, whose shares are also listed at the NASDAQ Dubai, said Standard & Poor's affirmed ratings of the its subsidiary Jordan Islamic Bank for long and short-term commitments of "B / BB" respectively with negative outlook. According to the Institute for Corporate Governance Hawkamah in Dubai, 95% of Bahrain's listed shares are not traded on a daily basis.
Source: AME Info
Saudi Arabian Tadawul market starts 2012 with modest gains
January 02, 2012--The Riyadh-based Tadawul All Share Index (Tasi) added 0.2% to reach 6,398.72 points. Al-Ahsa Development Co. gained the most,
closing 10% higher at SR14.85. Saudi Basic Industries Corp. or Sabic, the world's largest petrochemicals producer, advanced half a per cent to reach SR96.25. Eighty-eight shares gained, 38 lost value and 19 ended even.
Source: AME Info
Bahrain Bourse falls half a per cent, as trading activity remains low
January 02, 2012--Bahrain: The Bahrain All Share Index fell 0.45% to close at 1,138.51 Monday.
Bahrain Telecom, known as Batelco, advanced half a per cent, ending at BD0.394. Earlier in the day, Batelco announced the introduction of its next-generation fibre-based access network in selected areas of Bahrain to ensure the delivery of cutting-edge communications services. The network, which is capable of providing bandwidth reaching up to 2.5GB per customer, will ensure the delivery of advanced Triple Play solutions, Batelco said. Islamic bank Al Baraka Banking Group dived 8.26% to finish at $1.00. Earlier in the day, Al Baraka, whose shares are also listed at the NASDAQ Dubai, said Standard & Poor's affirmed ratings of the its subsidiary Jordan Islamic Bank for long and short-term commitments of "B / BB" respectively with negative outlook. According to the Institute for Corporate Governance Hawkamah in Dubai, 95% of Bahrain's listed shares are not traded on a daily basis.
Source: AMEInfo.com
Qatar lenders complete first treasury bill trade
Move to pave way for firms to issue bonds
December 30, 2011--QNB Group and Qatar Development Bank (QDB) have completed the first treasury bill trade in the secondary market after listing debt instruments on the Qatar Exchange.
The managements of both institutions expressed their appreciation to the Qatar Central Bank and Qatar Exchange for this initiative to list debt instruments on the stock exchange, which in return will contribute to the development of Qatar's financial markets and its position as a regional financial hub.
Source: Gulf News
Qatar Exchange the only gaining Arab market in 2011
December 29, 2011--The Qatar Exchange dipped 0.38% Thursday and ended the year of the Arab Spring with a tiny advance of one per cent, closing at 8,779.03 points.
Qatar and the UAE were the only Arab states where no protests or civil unrest occured in 2011. In June 2012, global index provider MSCI will review again if Qatar is ripe for an upgrade to 'Emerging Market' from 'Frontier Market'. This move could trigger growing capital inflows from international fund managers to the Doha-based exchange.
Source: AME Info
Damas shares surge 15.71%, climb above $0.20
December 29, 2011--The FTSE NASDAQ Dubai UAE 20 Index closed one per cent higher at 1374.39 today.
DP World added 0.94%, while Depa Ltd. closed even. Jewelry trading company Damas International surged 15.71% to reach $0.221.
Source: AME Info
Kuwait Stock Exchange advances half a per cent
December 29, 2011--The KSE Market Index finished the least trading day of a difficult year with small profit of 0.50%, closing at 5,814.2 points.
The market finishes the year 2011 with a decline of 16.41%. Shares gained across all sectors, with banks and insurers advancing in particular. Kuwait Finance House added 1.12%, finishing at KD0.900. Jazeera Airways, one of the best performing shares in the GCC this year, ended 1.11% higher at KD0.455.
Source: AME Info
Aldar Properties jumps 9.52% on second government rescue move
December 29, 2011--Aldar Properties was the share of the day at the Abu Dhabi Exchange ADX. Aldar soared 9.52% to reach Dhs0.92, lifting the ADX General Index to 2,402.28 points.
Yesterday evening, the government of Abu Dhabi announced to buy Aldar assets worth Dhs16.8bn ($4.57bn). It was the second time Aldar was rescued from the government, after the developer received a Dhs19.2bn cash injection in January this year. Twenty-six shares gained at the ADX, six ended even and one stock fell. Insurer Wataniya plummeted 10% to Dhs0.63. In 2011, the ADXGI lost 11.83%.
Source: AME Info
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