Middle East ETF News Older than One Year
Reform bonus for Saudi banks as profits surge
May 24, 2018-- Saudi banks, which are working to capitalize on economic reforms, have defied recessionary trends by posting profits during the first quarter of 2018.
The banks have cumulatively reported a 7.5 percent year-on-year increase and an 18 percent quarter-on-quarter growth in net profit for the first quarter, thanks to lower interest expenses and provisioning charges.
Source: Zawya.com
UAE stocks to extend gains on Cabinet decisions
May 22, 2018--The UAE stock markets are likely to extend gains on Tuesday following Cabinet's recent decisions, analysts told Mubasher.
On Sunday, the UAE Cabinet, headed by vice president and ruler of Dubai Mohammed bin Rashid Al Maktoum, announced a new long-term visa to some international investors and talented professionals, allowing 100% foreign ownership in companies.
Source: Zawya.com
MIDEAST STOCKS-Emirates NBD boosts Dubai; Abu Dhabi, Saudi stocks also up
May 22, 2018--United Arab Emirates stocks led regional gains on Tuesday, with Dubai's market bolstered by a surge in Emirates NBD after it agreed to buy Turkish lender Denizbank for $3.2 billion.
Source: Zawya.com
Telecom, new government decree push up ADX on Monday
May 21, 2018--The Abu Dhabi Securities Exchange's (ADX) general index increased by 32.47 points, or 0.73%, to close at 4,458.33 points on Monday, encouraged by the telecommunication sector and the new foreign ownership regulation.
Source: Zawya.com
Saudi indices seen negative at Monday's close
May 21, 2018-- The Saudi Stock Exchange (Tadawul) ended Monday in the red after its benchmark Tadawul All Share Index (TASI) decreased 21.6 points or 0.27%,reaching 7,996.4 points.
TASI's trading volume reached 105.7 million shares down from 117.1 million shares on Sunday, while liquidity fell to SAR 2.5 billion from SAR 2.6 billion.
Source: Zawya.com
S&P Dow Jones may lift Saudi Arabia to emerging market status
May 17, 2018--Equity index compiler S&P Dow Jones said it was consulting investors on whether to upgrade Saudi Arabia to emerging market status, a new sign of growing interest in the kingdom among global fund managers.
Source: Zawya.com
Mideast Stocks: Saudi banks merger boosts Alawwal as geopolitical worries weigh on Gulf
May 17, 2018-- Saudi Arabia's Alawwal Bank soared on Wednesday after the announcement of its planned merger with Saudi British Bank, while most Gulf stock markets closed in negative territory on the back of rising geopolitical concerns.
Source: Zawya.com
MIDEAST STOCKS-Saudi rebounds on strong oil prices, rest of Gulf down
May 17, 2018-- Higher oil prices helped Saudi Arabia's stock market to offset some of this week's losses on Thursday, though other Gulf markets were down as geopolitical concerns continued to weigh on investors in the region.
Trading activity was also slow because of the Muslim fasting month of Ramadan, traders said.
Source: Zawya.com
ADS Investment Solutions licences new FTSE Russell Saudi Arabia index
May 15, 2018--New FTSE ADS Custom Saudi Minimum Variance Index developed in collaboration with Abu Dhabi-based ADS Investment Solutions
ADS Investment Solutions to launch ETF tracking the index to be listed on Abu Dhabi Securities Exchange
Index designed to minimise volatility of the FTSE Saudi Arabia All Cap Index
Reflects growing demand from investors for benchmark and analytic solutions to facilitate investments into Saudi Arabia
FTSE Russell, the global index, data and analytics provider, announced today that it has launched a new Saudi Arabia-focused index. The FTSE ADS Custom Saudi Minimum Variance Index has been developed in collaboration with Abu Dhabi-based international financial services company, ADS Investment Solutions. The index has been licensed by ADS Investment Solutions for a new exchange traded fund (ETF), incorporated in Abu Dhabi Global Market (ADGM), to be listed on Abu Dhabi Securities Exchange.
Source: FTSE Russell
Warning! Stocks around the GCC are taking a hit
May 11, 2018--The GCC has been struggling recently due to geopolitical problems in the Arab world which translated badly on the GCC stock market.
The Dubai Financial Market (DFM) index has been registering low results for the past four weeks.
The index lost 55.2 points, or 2.2%, to close at 2,881.8 points in a week, registering its fourth successive weekly decline, according to Surperformance, a website for stock market news.
Source: ameinfo.com
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