Middle East ETF News Older than One Year
DFM shares recover slightly
November 23, 2011--The Dubai Financial Market (DFM) General Index declined the sixth trading day straight and ended Wednesday 0.30% lower at 1,347.07 points. Emaar declined further (off 0.79% at Dhs2.50), while Dubai Islamic Bank closed half a per cent lower at Dhs1.97.
The UAE's largest bank by assets Emirates NBD gained 2.50% to reach Dhs3.28. After falling below Dhs0.90 shares of the DFM, the only Arab listed market, recovered 0.11%, finishing at Dhs0.901.
Source: AME Info
Saudi can deal with Eurodebt crisis - minister
November 23, 2011--Saudi finance minister, Ibrahim Al-Assaf has said if Europe’s debt crisis worsens the kingdom has the means to deal with any renewed challenges and will continue its investment programs, Reuters has reported.
"If worse comes to worst, I am confident that we have the means to deal with any renewed challenges,” the minister told an energy conference in Riyadh. “Notwithstanding the looming challenges facing the global economy, I am confident that Saudi Arabia’s immediate and medium term growth prospects remain strong,” he said.
Source: AME Info
Bahrain reports inflation is under control
November 23, 2011--Rasheed al-Maraj, the governor of Bahrain's central bank has said inflation in the country is under control and the kingdom's banking system remains liquid and stable, Reuters has reported.
"The most important thing in Bahrain is to ensure financial stability," Maraj said. "So far the banking system remains liquid and stable." In October, inflation climbed to an eight-month high of 0.9% year-on-year and prices jumped 1% on the month as hotel prices rose during the haj pilgrimage season.
Source: AME Info
Saudi market dives 0.82% as Sabic hits four-week low
November 22, 2011--The Saudi Arabian Tadawul market ended 0.82% to 6,103.08 points. Sabic shares fell by half a per cent to SR91.75.
National Metal Manufacturing and Casting Co. was the top gainer, closing up 10% at SR40.70. The advance-decline ratio ended at a very negative proporation of 27 to 107 shares
Source: AME Info
Aldar Properties gains one per cent, closes at one Dirham
November 22, 2011--The ADX General Index fell Tuesday, closing at 2,439.69 points. National Bank of Abu Dhabi declined 1.92% to Dhs10.40 as financial stocks worldwide suffered from the U. S.'s failed plan to reach an agreement on how to reduce the national debt.
Real estate bellwether Aldar Properties bucked the downtrend by gaining one per cent, finishing at one Dirham.
Source: AME Info
Dubai market declines further
November 22, 2011--The DFM General Index dipped 0.30% to 1,351.09 points as the turmoil in Egypt keeps uncertainty high. Arabtec was the most liquid stock and ended flat at Dhs1.40. Emaar Properties declined 0.79% to Dhs2.52.
Shuaa Capital recovered some ground, gaining 1.45% to reach Dhs0.70. Some 52.8m shares were traded, valued at Dhs50.71m.
Source: AME Info
Global Investment House to ask for bond repayment delay
November 22, 2011--Kuwait's Global Investment House (GIH) has said it plans to ask bondholders if it can delay repayment of a KD45m ($163m) bond to June 2012 from April 2012, Reuters has reported.
The deferral of the bond repayment to June 10 from April 25 is to help Global in its talks with creditors regarding a wider debt restructuring, GIH said. A meeting to approve the firm's request will be held on December 5, it added.
Source: AME Info
UAE consumer prices decline
November 22, 2011--According to data by the UAE's National Bureau of Statistics, consumer prices in the country have declined by 0.1% on an annual basis in October, their first decline in 20 months, and rose 0.4% from the previous month helped by a jump in food costs, Reuters has reported.
The second largest Arab economy is seen expanding by 3.8% this year and next after a 1.4% growth in 2010.
Source: AME Info
Rand softer as risk aversion weighs
November 21, 2011--The rand was softer against the dollar in noon trade on Monday as risk aversion weighed on global markets.
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"The rand's fortune lies in the eurozone and our currency will obviously react to any headlines that come out of Europe," a local currency trader said.
At 11:34 local time, the rand was bid at 8.2662 to the dollar, down 1.03% from its previous close of 8.1853. It was bid at 11.1121 to the euro from 11.0947 before, and at 12.9648 against sterling from 12.9399 previously
Source: AME Info
GCC corporate earnings grow 17% backed by Saudi and Qatar, reveals Markaz report
November 21, 2011--Kuwait: During 3Q11, GCC corporates posted a mixed set of numbers with overall earnings growth of 17% when compared to 3Q10.
Total earnings, which came in at $13.5bn, were a decline of 4% over 2Q11. Corporate earnings were driven by strong performance from Commodity companies and Banks. [AMEInfo.com]
Source: AME Info
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