amwalalghad :: Arab

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


Money Markets - Arab

Amwal Al Ghad English - 2016-05-01 09:20:08
Stock markets in the Gulf were mixed on Sunday’s early trade with Saudi Arabia's bourse buoyed by commodity-related shares while banks weighed on United Arab Emirates indexes. Shares in Saudi Arabian Mining Co jumped 9.5 percent, their daily limit, after the miner reshuffled its board and appointed the chairman of state oil giant Saudi Aramco, Khalid al-Falih, as a member. Developing the Saudi mining industry and making Aramco into a diversified industrial conglomerate are major planks of a national economic reform plan announced last week. Saudi Basic Industries added 1.2 percent; Abdullah bin Mohammed al-Issa, a board member of Saudi Basic Industries, will also join Ma'aden's board. The main Saudi stock index was up 0.1 percent after an hour of trade. Elsewhere in the Gulf, the mood was weaker. Abu Dhabi banks remained soft after disappointing first-quarter earnings last week; the main index fell 0.7 percent. Heavyweight First Gulf Bank was down 1.2 percent and Abu Dhabi Commercial Bank lost 2.4 percent. But Union National Bank rose 2.2 percent despite posting a 27 percent drop in first-quarter net profit attributable to equity holders to 447 million dirhams ($121.76 million). Two analysts polled by Reuters had forecast 314.00 million dirhams and 454.30 million dirhams. Dubai's index fell 0.9 percent. Emaar Properties , which has not yet reported earnings, fell 1.0 percent and Dubai Islamic Bank, which reported a drop in profits last week, lost 0.9 percent. But Gulf Navigation jumped 6.5 percent in unusually high trading volume. The ship operator has not yet reported its quarterly results. More»
Amwal Al Ghad English - 2016-04-28 09:18:18
Share price declines among leading banks in the United Arab Emirates after disappointing quarterly earnings reports pulled down stock markets there on Thursday, while Saudi shares inched down. Abu Dhabi's index lost 1.3 percent. Abu Dhabi Commercial Bank dropped 5.0 percent after it reported first-quarter net profit of 1.02 billion dirhams ($277.7 million), missing analysts' forecasts. It attributed the 18.2 percent fall to a dip in income from core business and increased bad loan provisions. "Tight liquidity in the market is escalating competition and pushing deposit costs higher," said a note by UBS Securities. First Gulf Bank made a net profit of 1.33 billion dirhams, down 6 percent as income from fees and commissions slipped; two analysts polled by Reuters had forecast 1.27 billion dirhams and 1.51 billion dirhams. Shares in the lender fell 1.9 percent. National Bank of Abu Dhabi edged down 0.3 percent after reporting a 10.7 percent fall in net profit to 1.27 billion dirhams; analysts had forecast 1.28 billion and 1.45 billion. In Dubai, the stock index pulled back 1.4 percent with Dubai Islamic Bank dropping 3.2 percent. On Wednesday it had lost 3.6 percent after posting a 7.2 percent increase in first-quarter profit to 875.3 million dirhams; EFG Hermes had forecast 938 million. Other shares also fell as investors booked profits in stocks which had outperformed this week after posting better-than- expected earnings. Emaar Malls dropped 3.7 percent. In Riyadh, the index edged down 0.1 percent. It rose strongly earlier in the week after the announcement by Deputy Crown Prince Mohammad bin Salman of economic reforms designed to free the kingdom from its dependence on petrodollars. Builder Jabal Omar Development fell 2.7 percent after reporting a quarterly net loss of 43.99 million riyals ($11.7 million) compared with a 65.05 million riyal profit a year earlier. It cited a higher debt burden and lower sales of residential units. In Qatar, telecommunications operator Ooredoo rose 0.8 percent after it reported a 75 percent leap in first-quarter net profit to 879 million riyals ($241.4 million), driven by foreign exchange gains. Analysts at EFG Hermes and SICO Bahrain had forecast 452.5 million riyals and 487 million riyals. Qatar's stock index edged down 0.1 percent. More»
Amwal Al Ghad English - 2016-04-27 09:25:38
Petrochemical stocks and shares expected to benefit from Saudi Arabia's economic reform plans lifted the Riyadh market Wednesday, while other Gulf bourses were sluggish. Saudi Basic Industries was up 1.8 percent as Brent oil rose to a five-month peak of $46.49 a barrel overnight. The main Saudi stock index added 0.7 percent. Al Tayyar Travel jumped 3.9 percent in unusually heavy trade. The reform plan unveiled this week stressed developing the tourism sector, though no details were given. Also, a venture between Al Tayyar and Dubai-based Equinox Group signed an agreement with New York-listed Choice Hotels International on Tuesday to develop the Clarion, Comfort and Quality hotel brands in the United Arab Emirates and Saudi Arabia. Elsewhere in the Gulf the mood was more subdued, with Dubai's index dropping 0.8 percent. Emaar Properties lost 2.2 percent as it went ex-dividend. Abu Dhabi's market was little changed while Qatar's index fell 0.8 percent. Drilling rig provider Gulf International Services rose 1.2 percent but many Qatari stocks were sluggish as activity focused on Qatar First Bank, which listed on Wednesday. After 80 minutes the stock was flat in the market's heaviest trade. Dlala Brokerage fell 5.0 percent after it reported first-quarter profit shrank to 446,000 riyals ($123,000) from 6.43 million riyals a year earlier. More»
Amwal Al Ghad English - 2016-04-23 09:10:01
34 of 49 listed companies on the Palestine Exchange (PEX) achieved profit in 2015. Final results of 2015 show that net profits amounted to US$ 269,033,908 million, a growth of 20 percent in comparison to 2014. Results show that the thirty five companies achieved profits of US$281,380,404 million, while the net loss of the other eleven companies was US$12,346,497 million, a decrease of 62 percent in comparison to 2014. Three companies failed to disclose their annual results. Ahmad Aweidah, CEO of the PEX expressed his satisfaction from these results. He said: "This is a clear message of the ability of our listed companies to generate profits and maintain a constant trend of growth year after year in spite of our challenging economic and political conditions". More»
Amwal Al Ghad English - 2016-04-20 18:02:33
Klein has been selected to provide advice to the Saudi government for the anticipated intial public offering for Saudi Aramco, whilst JPMorgan may serve as the underwriter, said Bloomberg in a report. No final decisions have been made as of yet. A listing of the state-owned oil company could turn it into the world’s largest publicly traded company with an estimated valuation in the trillions of dollars. Prince Mohammed bin Salman said to Bloomberg earlier this month that Aramco could list on the stock exchange as early as 2017 and no later than 2018. “The mother company will be offered to the public as well as a number of its subsidiaries,” the Prince told Bloomberg. More»
Amwal Al Ghad English - 2016-04-20 08:56:31
A retreat in crude oil prices may erase some of Gulf bourses' recent gains Wednesday, but some stocks may continue to perform well because of strong quarterly earnings. Brent futures have snapped back 2.5 percent to $42.97 in early Asian trade after Kuwaiti oil workers ended a three-day strike that had cut production in the OPEC member by nearly half. On Tuesday Gulf stock markets posted solid gains, mainly because of better-than-expected earnings, which helped lift investor sentiment as they suggested some companies were able to adapt swiftly to a wweaker economic environment. On Wednesday, Saudi Arabia's top two telecommunications operators may head in opposite directions after reporting divergent results late on Tuesday. Etihad Etisalat (Mobily) said cost-cutting had helped it swing to a first-quarter profit of 16.6 million riyals ($4.43 million) compared to a loss of 44.5 million riyals in the prior-year first quarter. Analysts at NCB Capital had forecast it would make a net profit of 201.1 million riyals for the period, but EFG Hermes had expected a net loss of 4.59 million riyals. Saudi Telecom missed analysts' forecasts, blaming rising costs for a 5.2 percent fall in net profit. It made a profit of 2.38 billion riyals compared to analysts' average expected quarterly profit of 2.5 billion riyals. In Doha, Qatar Gas Transport Co (Nakilat) may find some buying interst after it posted a 7.9 percent rise in first-quarter net profit to 240 million riyals ($65.91 million). One analyst polled by Reuters had forecast Nakilat's profit would be 234.2 million riyals. Qatari banks have so far reported strong earnings, with the latest, Qatar Islamic International Bank, posting a 5.1 percent rise in first-quarter earnings to 223.1 million riyals. More»
Amwal Al Ghad English - 2016-04-19 08:36:44
Most Gulf stock markets surged early Tuesday as several Saudi Arabian companies beat first-quarter earnings estimates and oil prices held up better than feared after the failure of Sunday's Doha meeting of producers to agree on an output freeze. The Saudi stock index climbed 1.1 percent as Saudi Basic Industries, the biggest petrochemical producer, gained 1.7 percent. It reported a 13.2 percent drop in net profit to 3.41 billion riyals ($909.4 million); analysts had on average forecast 2.84 billion riyals. Sipchem gained 1.4 percent after posting a 37.1 percent drop in profit to 50.7 million riyals. Analysts had forecast 37.42 million riyals. The Saudi construction sector has also been hit hard by low oil prices, but major builder Khodari rose 0.8 percent. Its profit plunged 70.6 percent to 4.11 million riyals but beat the estimate of EFG Hermes, which had forecast a loss of 6.25 million riyals. Mouwasat Medical Services jumped 4.6 percent after posting a 27.2 percent rise in profit to 71.1 million riyals, beating an average forecast of 60.7 million riyals. Jarir Marketing Co edged up 0.4 percent after cutting its first-quarter cash dividend to 1.75 riyals per share from 2.25 riyals. Dubai's index added 0.6 percent, helped by a 1.4 percent rise in Emaar Properties after chairman Mohammed Alabbar told reporters that its performance in the first quarter looked good because of better-than-expected sales and cost-cutting. The company has not yet announced first-quarter earnings. Abu Dhabi edged up 0.2 percent; most stocks moved little but Abu Dhabi Islamic Bank, which is to release earnings on Thursday, jumped 6.7 percent in unusually heavy trade. Qatar edged down 0.2 percent but nine of the 10 most heavily traded stocks were higher. Lender Masraf Al Rayan slipped 0.1 percent after reporting a 5.1 percent rise in first-quarter net profit to 537 million riyals ($147.5 million); EFG Hermes had forecast 513.3 million riyals and QNB Financial Services, 518.9 million riyals. More»
Amwal Al Ghad English - 2016-04-18 19:08:55
Major stock markets in the Gulf rebounded in late trade on Monday to close higher despite the collapse of oil producers' talks in Doha. The failure of Sunday's Doha meeting to agree on an oil output freeze was a blow to sentiment in the oil market, and Brent crude tumbled more than 5 percent at one stage. But it later came well off its lows to stand only 2.6 percent down at $42 a barrel. This was a relief to Gulf bourses, which were also encouraged by some positive first-quarter earnings in Saudi Arabia that suggested the region's economic slowdown was not hurting corporate profits as much as feared. The Saudi stock index, which fell as much as 1.6 percent in early trade, rebounded to close 0.2 percent higher, led by the petrochemical sector. Petrochemical producer National Industrialisation Co (Tasnee) surged 9.8 percent after posting a first-quarter net loss of 94.8 million riyals ($25.3 million), beating analysts' forecasts of a 272.9 million riyal loss. NCB Capital attributed the result to higher-than-expected gross margins on the back of improved efficiency and higher operating rates. But the second largest listed petrochemical producer, Saudi Arabia Fertilisers Co (SAFCO), slumped 3.8 percent to 62.75 riyals after reporting a 51.5 percent decline in net profit to 286 million riyals. Analysts had expected the unit of Saudi Basic Industries to make 314.6 million riyals. Riyad Capital attributed the fall mainly to lower urea prices and revised its target price for the stock to 70.0 riyals from 80.0, maintaining a "hold" rating. BANKS ON THE UP Another commodity producer, Saudi Arabian Mining Co (Ma'aden), climbed 6.3 percent after reporting a 35.3 percent fall in first-quarter net profit to 168.9 million riyals versus analysts' average estimate of just 1.13 million riyals. Saudi banking sector earnings have mostly been above analysts' expectations, and Arab National Bank, one of the last in the sector to report, also came in ahead of forecasts. Its shares rose 1.3 percent after it posted a first-quarter net profit of 749.2 million riyals, a 2.8 percent drop. Analysts polled by Reuters had forecast 685.8 million riyals. Other Gulf bourses also bounced from early lows. Dubai's index was down as much as 2.5 percent but finished 0.1 percent higher. Builder Drake & Scull, the most heavily traded stock on the bourse, added 3.5 percent. Emirates NBD, the biggest bank, gained 2.5 percent. In Abu Dhabi, the index edged up 0.03 percent, helped by banks. Abu Dhabi Islamic Bank gained 4.4 percent and First Gulf Bank, the most valuable listed lender, added 0.4 percent. In Doha, where companies are expected to start reporting earnings at the end of this week, the index added 0.4 percent. Ezdan Holding Group, a real estate developer, rose 1.1 percent. More»
Amwal Al Ghad English - 2016-04-18 14:49:36
Saudi Arabia's stock exchange plans to establish an equity market targeting small and medium-sized enterprises (SMEs) from 2017, it announced Monday. The initiative, which is supported by the Capital Market Authority, would benefit SMEs by improving access to capital and encouraging corporate governance improvements, the bourse, commonly known as Tadawul, said in a statement. It will launch an awareness campaign to highlight the value of listing on the market, it added. More»
Amwal Al Ghad English - 2016-04-18 09:14:46
Stock markets in the United Arab Emirates inched lower in early trade Monday after the collapse of Sunday's talks between oil producers in Doha caused crude prices to tumble. Dubai's stock index sank 2.0 percent in the first 15 minutes with Emirates NBD, the largest bank, losing 5.0 percent and builder Drake & Scull down 2.7 percent. But Shuaa Capital, which has been rising for a month partly on rumours that a shareholder is building a major stake, added 2.8 percent. Abu Dhabi's index dropped 0.9 percent as Abu Dhabi National Energy sank 3.3 percent. Brent futures are trading at $41.08 per barrel, down 4.7 percent from their last settlement. The failure of the Doha meeting to agree on an oil output freeze may not make a huge difference to prices in the long term - analysts thought a freeze would have had only a minor impact on market conditions. But the talks' failure does deal a blow to sentiment in the oil market, with which Gulf bourses have been closely correlated over the past six months. More»