Middle East ETF News Older than One Year
Egypt's economy at a crossroads
March 30, 2011--The Egyptian Exchange has resumed trading and the military interim government in Egypt has set parliamentary elections for September. While the political landscape in the country is changing rapidly, the economy still has a long way to go. AMEinfo.com reports from Cairo.
The January 25 revolution has lifted Egypt to the forefront of the Arab thirst for democratic and economic reforms. The path to Misr al-Jadid, the New Egypt, offers opportunities but has its challenges.
The daily newspapers are writing more openly than in any other Arab country, with the exception of Lebanon. Young people are expressing a new spirit and growing confidence in their country.
Source: AME Info
Tadawul market remains inn lackluster mood
March 29, 2011--The Saudi Arabian Tadawul market added 0.17% to reach 6,519.13. After two days of declining, shares of petrochemical giant SABIC rose by 0.25%, closing at SR102.75.
Banks and retail firms overall performed weaker, with Banque Saudi Fransi dipping by 0.62% to close at SR47.80. Eighty-nine shares gained, 42 declined and 14 closed flat.
Source: AME Info
Qatar bourse advances 0.31%
March 29, 2011--The Doha-based QE Index closed 0.31% higher 8,398.64. The country's first telecom provider Qatar Telecom dipped 0.57%, closing at QR139.20.
Earlier in the day, the management of Qatar Exchange announced the addition of bonus shares to Qatar Telecom (Qtel) Investment Limited shareholders' accounts after the increase of the Company's capital to reach 1.76bn Qatari Riyals distributed on 176,000,000 shares. "Based on the aforementioned, the shareholders will be able to trade the said shares as of Tuesday, March 29, 2011", the statement says.
Source: AME Info
Banks, insurers lift Kuwait Stock Exchange
March 29, 2011-The KSE Market or Price Index closed 0.27% higher at 6,323.
The banking and insurance segment gained 0.75% and one percent respectively. The country's largest lender National Bank of Kuwait closed unchanged at KD1.160. Pearl of Kuwait Real Estate Co. (up 11.11% at KD0.025) was the top gainer, while Securities Group Company posted the largest decline (down 13.57% at KD0.242).
Source: AME Info
Dubai market rises insignificantly
March 28, 2011--The DFM General Index gained for the fifth day straight, closing 0.08% higher at 1,557.5. Investors did not honour the new positive momentum at the Egyptian Exchange which rose over 5% on Sunday. At the DFM, shares of Emaar Properties gained 0.53% to reach Dhs3.18.
Commercial Bank of Dubai, known as CBD, plummeted 4.41%, finishing at Dhs3.25. Arabtec Construction closed as the top gainer, up 1.83% at Dhs1.67. Eight shares gained, 14 declined and four closed even. Around 125.09m shares worth Dhs170.82m changed hands.
Source: AME Info
Abu Dhabi real estate firms plummet
March 28, 2011--The ADX General Index lost 0.46%, closing at 2,633.57. Real estate heavyweights Aldar (off 4.49% at Dhs1.51), Sorouh Real Estate (down 3.91% at Dhs1.26) and RAK Properties (2.50% lower at Dhs0.39) weighed on the index.
Leasing specialist Waha Capital ended flat at Dhs0.82. Earlier in the day Waha announced that the Annual General Assembly approved the recommendation of the Board of Directors to distribute bonus shares equivalent to 9.5% and cash dividends equivalent to 3% of the company's paid-up capital to shareholders. Methaq Takaful was the most liquid gaining share (up 6.45% at Dhs2.38).
Source: AME Info
Qatar Exchange dips a quarter percent
March 28, 2011--The QE Index declined on Monday by 0.24% and finished at 8,372.99. Only the services sector index landed in the green while the other segments lost value.
Qatar Telecom, known as Qtel, finished unchanged at QR140. Earlier in the day Qtel announced that at the Annual General Meeting it received approval from its shareholders for the Board of Directors' recommendations regarding distribution of cash dividends of 50% of the nominal share value and fully paid up bonus shares of 20% of the issued share capital, for the year 2010.
Source: AME Info
Kuwait bourse gains 0.32%
March 28, 2011--The KSE Market Index started weakly, but eventually added 0.32% to reach 6,305.8. Investment bank Global Investment house lost 1.19%, closing at KD0.043.
Earlier in the day Global announced the launch of its initiative "to encourage and support investments in the Bahrain stock market by waiving its brokerage fees for any investors interested in buying stocks listed on the Bahrain Bourse starting from Tuesday, March 29 to Thursday, April 14, 2011", the media statement says
Source: AME Info
Tadawul bourse declines by 0.18%
March 28, 2011--The Saudi Arabian Tadawul market closed 0.18% lower at 6,508.28. Allianz Saudi Fransi Cooperative Insurance Company was the top gainer, closing 9.94% higher at SR19.90.
Petrochemical leader SABIC dipped for the second day straight, closing 0.73% lower at SR102.50. Eighty shares gained, 50 declined and 15 closed flat.
Source: AME Info
Egyptian stocks to stabilise - Finance Minister
March 28, 2011--Samir Radwan, the Egyptian finance minister has said the stock market is to stabilise this week as the government makes EGP250m ($42m) available to buy shares, after the index dropped to the lowest level in almost two years following a seven-week halt, Bloomberg has reported.
Egypt's benchmark EGX30 Index plummeted 12% on March 23 and 24 as the bourse reopened for the first time since a popular uprising that led to the ousting of president Hosni Mubarak.
Source: AME Info
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