Middle East ETF News Older than One Year
Dubai bourse ends the year positively
December 30, 2010--The Dubai market DFM added 0.54% to reach 1,630.52 points. Market bellwether Emaar Properties surged 2.60% to close at Dhs3.55. Trading volumes more than doubled to 115.6m shares worth Dhs183m. In 2010 the DFM lost 9.60%, making it the worst performing exchange in the GCC.
Property shares weighed on the index as the real estate market has not find its bottom in 2010. Nevertheless Credit Suisse- analyst Jacqueline Madu is optimistic for 2011: "The real estate market (in the UAE)is gradually stabilizing and should begin to gain traction in 2011-2012 thanks to improving domestic economic and financial conditions. Meanwhile, exports have rebounded, providing a much-needed lift to growth this year." Ms. Madu adds: "Dubai World struck a debt-restructuring deal with its creditors in September. The accord has helped to ease concerns over Dubai's debt crisis, boosting investor confidence. The eventual resolution of the Dubai World saga should lead to greater improvements in banking and financial conditions by the end of 2010 and into 2011."
Source: AME Info
Nasdaq Dubai: DP World gains, Depa declines
December 30, 2010--The FTSE NASDAQ Dubai UAE 20 Index closed at 1800.580, up 0.85%,from the previous close. Dubai Ports (DP) World added 0.80%, ending $0.63. Depa Limited, the Dubai-based interior designer declined 2.78% to finish at $0.70.
A report published by The National on Wednesday speculates on alleged discount demands made by Depa to sub-contractors when it designed the interior for the Ferrari World complex in Abu Dhabi. Depa declined to comment, according to the report. Damas shares ended flat at $0.13.
Source: AME Info
Abu Dhabi exchange gains 0.65%
December 30, 2010--Banks and property firms raised the ADX General Index on the last trading of 2010 by 0.65% to close at 2,719.87 points. Ras Al Khaimah Poultry and Feeding Co. was the main gaining shares,
closing 10% higher at Dhs1.87. Aldard Properties added 1.33% to reach Dhs2.27. Only two shares declined, while 23 advanced and 11 finished unchanged. In 2011 the ADX General Index declined 0.87%.
Source: AME Info
Kuwait market index fails to break even in 2010
December 30, 2010--The KSE Market or Price Index dipped 0.10%, finishing at 6,955.5 points. All sector indices lost value wiith, except the insurance segment.
With the small loss on the last trading day of 2010, the KSE failed to end the year with a small profit as year-t-date the Kuwait bourse weakened 0.71%.
Source: AME Info
Qatar market gains 24.75% in 2010
December 30, 2010--Like yesterday, the QE Index in Doha added 0.20%, closing at 8,681.65 points. With a surge of 24.75%, the Qatari bourse posted the highest annual profit in the GCC and among all Arab stock exchanges.
Investors hailed the decision by the FIFA to grant Qatar the World Cup in 2022 in particular. According to Credit Suisse, Qatar's economy will grow by 16.7%.
Source: AME Info
Bahrain on target to meet growth expectations for 2010
December 30, 2010--Bahrain's economy is on target to meet expectations of 4% year on year growth for the full year, according to the Bahrain Economic Quarterly, Q4 2010.
The quarterly reports, first published in December 2009, have been developed by the Bahrain Economic Development Board (EDB), to provide regular assessments and key information on the Bahrain economy, in the context of the regional and global outlook. GDP growth in Bahrain was 4.3% through the first nine months of 2010.
Source: AME Info
Kuwait refuses liquidity request of Islamic banks
December 29, 2010-- Kuwait's central bank has rejected a request by Islamic lenders to grant them exceptions from liquidity ratio requirements and allow for the withdrawal of excess liquidity,
Reuters has reported. This is the second time the central bank has rejected such a proposal, a move some banks said put them at a disadvantage to conventional banks.
Source: Online News
Abu Dhabi exchange ends flat
December 29, 2010--The ADX General Index closed unchanged at 2,702.28. RAK Properties, the leading real estate developer in the sheikhdom of Ras al-Khama (RAK), gained 2.33% to reach Dhs0.45.
Waha Capital declined on profit taking (off 1.35% at Dhs0.74). Earlier in the day, Al Waha Marine Agency, a subsidiary of Waha Maritime (the maritime investment arm of Abu Dhabi-based Waha Capital) announced that it has received the ISO 9001:2008 compliance certification from Lloyd's Register following the successful completion of the final audits for the quality management system. Al Waha Marine Agency also received the ISO 14001: 2004 'Statement of Commitment' certification for its commitment to implementing an environmental management system. Finance House posted the largest gain in Abu Dhabi, closing 10% higher at Dhs5.50. Eleven shares gained, eight ended flat and 14 declined.
Source: AME Info
Nasdaq Dubai-listed shares gain slightly
December 29, 2010--The FTSE NASDAQ Dubai UAE 20 Index closed at 1785.380 up 1.08% from the previous close.
DP World shares stabilised at $0.625 (0.48% higher). Interior designer Depa Limited was the main gainer, advancing by 2.86% to reach $0.72. Dubai Gold Securities finished 1.23% higher at $139.59. Jewelry trader Damas International ended flat at $0.13.
Source: AME Info
Shares of Qatar National Bank regain territory
December 29, 2010--The Doha-based Qatar Exchanged gained 0.21%, closing at 8,664.21. Qatar National Bank, the largest lender in the country, added 0.38% to reach QR185.70.
Qatar second bank Commercial Bank of Qatar (CBQ) gained 1.11%, finishing at QR91.00.
Source: AME Info
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
