Middle East ETF News Older than One Year
Fniancial shares losses weigh on Kuwait market
October 19, 2010--The KSE Market Index dipped 0.38% Tuesday, ending at 7,018.8 points. Shares of Burgan Bank, which surged 57% since July, weakened 1.02% to finish at KD0.485. Shares of Zain Telecom lost 1.40%, closing at KD1.400.
. Its rival Etisalat from the UAE said today that no agreement has been reached as yet to buy 46% in Zain for the price of KD1.70 per share.
Source: AME Info
Qatar Exchange wipes out week losses
October 19, 2010--The Doha-based Qatar Exchange gained 0.52%, wiping out almost the entire losses it accumulated since the start of the week.
The QE Index ended at 7,824.86. Banks and services in particular lifted the market, e. g. Commercial Bank of Qatar, the number two in the Gulf state, which added 0.12% to finish at QR86.10. Insurers weighed on the market, such as Qatar Insurance (down 0.36% to close at QR83.40)
Source: AME Info
Bahrain bourse adds 0.27%
October 19, 2010--The Bahrain All Share Index closed 0.27% up at 1,465.56. Ahli United Bank posted tha largest gain, closing two percent higher at $0.765.
Al Salam Bank, on the other hand, plummeted 6.25%, ending at BD0.075.
Source: AME Info
Derayah launches the first unified trading platform
October 18, 2010--Derayah Financial, the first investment supermarket in the Middle East, has launched the first unified equity trading platform that allows investors in the Middle East to trade in the same day across the most important local, regional
and international financial markets in the same day, through a single platform and using a single cash account.
Source: AME Info
MENA Private Equity Confidence survey 2010 - Building for the future
October 18, 2010-The survey was conducted for Deloitte by Arbor Associates among private equity fund managers (GPs) in the Middle East and North Africa (MENA) and is designed to measure confidence and market sentiment in the regional private equity market.
Compared with 2009 results, the latest MENA Private Equity Confidence Survey demonstrates some signs of a positive shift in sentiment amongst GPs in the Middle East and North Africa (MENA) region. Overall, GPs remain optimistic about the prospects for MENA private equity, with strong domestic economies and favourable demographics cited as just two of the many attractions that MENA has to offer.
Yet, while there is now perceived to be less uncertainty in the global economy and more encouraging signs within MENA itself, GPs still view the next 12 months with an element of caution. With the process of market stabilization underway, there is a sense of greater realism in the market but the complicating factor is the sheer diversity of the MENA region, which on one hand presents significant opportunities for scale, but on the other highlights many of the challenges still faced.
The survey explores these opportunities and challenges in more detail while also gauging how GPs anticipate investment and exit activity in the region that will take shape in the coming year.
view MENA Private Equity Confidence survey 2010
Source: Deloitte
Weekly FX roundup: US Dollar continues recovery as QE2 fears lack details
October 18, 2010--The Greenback has continued to gain since Friday's positive closing, with risk correlated trades quickly falling out of favour. The market has gotten ahead of itself in pricing-in massive QE2 for the US. Clearly the combo of the FOMC minutes, Bernanke's comments and underlying inflation "trending downwards" all point to further easing but the lack of details - especially critical detail of time frame & magnitude,
has the market pulling back slightly this trading week. In addition, the month long USD selling spree created a market well short of USD (going by the IMM speculative data) and ripe for a short squeeze.
We suspect that barring a significant dip in US data this week, the market has overpriced-in US QE2 and we should see a light unwind of short USD positioning this week. We are moving cautiously in front of US economic data, even though its mostly 2nd tier this week. A string of Fed speakers and the G20 meeting this upcoming weekend may cause a sharp reversal in risk appetite depending on the information that comes out.
Source: AME Info
Qatar market remains in stutter mode
October 18, 2010--The QE Index dipped 0.34% to close at 7,784.24. Banks mostly posted losses, e. g. Qatar Islamic Bank, also known as QIIB, which was down one percent to close at QR79.30. On Sunday,
QIB has announced a recorded net profit of QR907m, and an outstanding operational income of QR1734m during the first nine months of 2010.
Source: AME Info
Kuwait bourse gains slightly
October 18, 2010--Kuwait's KSE Market Index ended 0.17% higher at 7,045.8. Shares of the country's largest lender National Bank of Kuwait (NBK) added 1.4% to close at KD1.420.
Other finance relates firms mostly performed weaker e. g. International Financial Advisors (off 5.63% at KD0.067).
Source: AME Info
Qatar market remains in stutter mode
October 18, 2010--The QE Index dipped 0.34% to close at 7,784.24. Banks mostly posted losses, e. g. Qatar Islamic Bank, also known as QIIB, which was down one percent to close at QR79.30. On Sunday, QIB has announced a recorded net profit of QR907m
and an outstanding operational income of QR1734m during the first nine months of 2010.
Source: AME Info
Bahrain Financial Exchange announces launch of its Islamic division Bait Al Bursa
October 18, 2010--The Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (Mena) region, is delighted to announce the launch of its Islamic Finance division with the establishment of 'Bait Al Bursa'
marking the creation of the region's first exchange operated platform dedicated to Islamic finance products.
Source: AME Info
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