amwalalghad :: Arab

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        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        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        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        National Real Estate Bank for    11.84        Egyptian Chemical Industries (   7.26        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        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        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        Cairo Poultry   8.32        ARAB POLVARA SPINNING & WEAVIN   2.11        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 - 2015-08-25 16:57:01
The Saudi market index, TASI soared Tuesday 7.38 percent or 518.45 points to close at the 7,543 – its highest level since year start as 31 stocks closed by their maximum levels. This uptrend was coupled with a strong trading activity and global stocks’ turnaround, after China’s central bank decided to cut interest rate. The People's Bank of China said the interest rate cut was to reduce "the social cost of financing to promote and support the sustainable and healthy developments of the real economy". Turnover exceeded SAR 10.3 billion (US$2.7 billion), its highest since 21 May when it reached around SAR 12 billion. Trading volume reached 592.8 million shares, exchanged in 190,600 transactions. Out of the 166 companies traded on Tuesday, 161 headed north, spearheaded by JAZADCO which surged 10% to SAR 11. Meanwhile, five stocks headed south, led by Tihama which dived 10% to SAR 67.50. Wrapping up sectors, the media sector was the sole decliner, falling 1.39%. Meanwhile, the energy and hotels sectors topped advancers, leaping by more 9% each. More»
Amwal Al Ghad English - 2015-08-25 16:47:53
The Saudi market index, TASI soared Tuesday 7.38 percent or 518.45 points to close at the 7,543 – its highest level since year start as 31 stocks closed by their maximum levels. This uptrend was coupled with a strong trading activity and global stocks’ turnaround, after China’s central bank decided to cut interest rate. The People's Bank of China said the interest rate cut was to reduce "the social cost of financing to promote and support the sustainable and healthy developments of the real economy". Turnover exceeded SAR 10.3 billion (US$2.7 billion), its highest since 21 May when it reached around SAR 12 billion. Trading volume reached 592.8 million shares, exchanged in 190,600 transactions. Out of the 166 companies traded on Tuesday, 161 headed north, spearheaded by JAZADCO which surged 10% to SAR 11. Meanwhile, five stocks headed south, led by Tihama which dived 10% to SAR 67.50. Wrapping up sectors, the media sector was the sole decliner, falling 1.39%. Meanwhile, the energy and hotels sectors topped advancers, leaping by more 9% each. More»
Amwal Al Ghad English - 2015-08-17 13:53:43
Dubai Financial Market ( DFM ) announced Monday that its listed local public joint stock companies have recorded a 100% compliance regarding the disclosure of Q2-2015 results within the deadline of 45 days from the end of the period. The total number of UAE public joint stock companies listed on DFM , which disclosed their second quarter results, reached 46 companies. The Exchange submitted a detailed report to the UAE Securities and Commodities Authority (SCA) including the disclosure dates and its remarks on the disclosures according to SCA requirements. More»
Amwal Al Ghad English - 2015-08-16 08:02:19
Dubai stocks fell to the lowest in more than two months after the United Arab Emirates’ biggest-listed builder reported a third-straight quarterly loss. The DFM General Index slid 0.5 percent to 3,966.24 at 10:51 a.m. in the emirate, the lowest since June 8. Arabtec Holding Co. slumped to the lowest since April. Abu Dhabi’s ADX General Index retreated 0.1 percent. Arabtec, which helped build the world’s tallest tower in Dubai, posted a 718.4 million-dirham loss ($196 million) last quarter on rising costs, compared with a profit of 102.4 million dirhams a year earlier. It’s stock has declined 23 percent so far this year, compared with a 5.1 percent gain in Dubai’s gauge. More»
Amwal Al Ghad English - 2015-08-11 11:06:09
Initial public offerings (IPOs) on Middle Eastern stock exchanges are set to pick up in the rest of the year and into 2016 as oil prices stabilize and market reforms encourage more companies to sell shares, according to Ernst & Young. The opening of the Saudi Stock Exchange to foreign investors and new regulations in the United Arab Emirates that lower the proportion of stock companies have to offer investors to 30 percent from 55 percent, will encourage more share sales, Mayur Pau, Dubai-based Middle East and North Africa IPO leader at EY, said by phone Monday. A switch in the U.A.E. to having pricing based on demand, rather than at levels set by the regulator, will also make IPOs more attractive, Pau said. “Economic reforms in the region are paving the way for a pick-up in IPO activity and we already see a large pipeline of companies in the U.A.E., Saudi Arabia and Egypt preparing for potential listings,” said Pau. “Egypt continues to benefit from political stability and there is a level of confidence there now that is attracting investors and issuers.” Companies held 11 IPOs the MENA region in the first half of 2015, raising more than $2.4 billion, a report by EY published Tuesday shows. The number of deals fell by 11 percent from a year earlier and the value raised dropped by 1 percent as a slump in oil prices led to declines in regional stock markets, it said. Oil Stabilizing Oil’s plunge in the second half of 2014 to the lowest price in more than five and a half years sparked a sell-off across equity markets in Gulf Cooperation Council countries. As a result, the U.A.E. market regulator advised “many” companies to delay IPOs this year, Chief Executive Officer Abdullah Al Turaifi said in January. Greater stability in oil prices has prompted companies to contemplate share sales. Buyout firm Abraaj Group is planning an IPO of its stake in credit-card processing business Network International LLC, people with knowledge of the matter said in June. “We are seeing a lot of clients get as ready as they can for listing while watching the market to see if the timing is right,” said Pau. “We think the market opportunity is reasonably good now, particularly in Saudi Arabia and Egypt, and expect to see activity pick-up in the coming months.” Of the 11 IPOs in the first half of the year, five were by Egyptian companies and three were in Saudi Arabia, according to the EY report. Saudi Arabia opened its stock market to direct foreign investment for the first time in July. The move will encourage more companies in the kingdom to have their stock trade on the exchange as the pool of potential investors has increased, Pau said. More»
Amwal Al Ghad English - 2015-06-22 09:50:18
The board of the Abu Dhabi Investment Council (ADIC), the investment arm of the Abu Dhabi government, has been revamped with the emirate's crown prince named as its chairman, state news agency WAM reported Sunday. Sheikh Mohammed bin Zayed al-Nahayan, who is also deputy supreme commander of the United Arab Emirates' armed forces, replaces President Sheikh Khalifa bin Zayed al-Nahayan at the head of the fund, according to a royal decree carried by the agency. ADIC, which holds majority stakes in some of Abu Dhabi banks including the largest, National Bank of Abu Dhabi, is responsible for investing part of the government's surplus financial resources. It was spun off in 2007 from the Abu Dhabi Investment Authority, the emirate's main sovereign wealth fund, with all ADIA's stakes in local companies placed within it. However, the fund retains a global investment remit despite its local focus. It has assets under management of around $111 billion, according to industry tracker the Sovereign Wealth Center. The other board change announced on Sunday saw Isa Mohammed al-Suwaidi, who holds top positions in some of Abu Dhabi's financial institutions including chairman of Al Hilal Bank, named managing director of ADIC. He replaces Khalifa Mohammed al-Kindi. The other board members have been retained, according to the decree. It is the second time in recent months that the board of a top Abu Dhabi state-owned investment vehicle has been restructured. In April, the UAE oil minister Suhail Mohammed al-Mazrouei was named chairman of International Petroleum Investment Company (IPIC), which invests globally in energy and related sectors, replacing Khadem al-Qubaisi. More»
Amwal Al Ghad English - 2015-06-17 09:57:28
Middle East stock markets look set to consolidate with a negative bias Wednesday as investors in the region prepare for the Muslim holy month of Ramadan, which begins Thursday and usually brings a period of very low trading activity. Trading volumes in most markets have already been declining in the last few days and some bourses, such as Egypt's stock exchange, are reducing trading hours during Ramadan. The Cairo market will close one hour earlier than usual, at 1130 GMT. Some market players had expected this Ramadan to be different in Saudi Arabia, which this week opened its market to direct foreign investment. But modest volumes in the first two days of trade after the opening indicate foreigners are in no rush to buy local stocks. Stock exchange data showed no fresh, significant purchases by licensed foreign investors on Tuesday. In Dubai, the arrival of Ramadan may reduce speculative activity, which has made the market very volatile in recent weeks and focused on mid-cap stocks such as Amlak Finance and Dubai Parks and Resorts. Oil prices have been nearly flat so far on Wednesday as firm demand meets strong output, with the market waiting for US storage figures later in the day. The US dollar also has not moved as investors wait for clues from a Federal Reserve meeting on when US interest rates are likely to rise. Asian shares are holding near three-month lows. More»
Amwal Al Ghad English - 2015-06-07 08:54:50
Dubai stocks led declines across most Middle East equity markets as investors took advantage of a four-day rally to sell positions before the start of the Muslim holy month of Ramadan. Qatari shares fell for a third day. The DFM General Index dropped 1.5 percent to 3,971.86 at 11:31 a.m. in the emirate. Dubai developers and construction companies led the slide, as Emaar Properties PJSC lost the most since May 27. The DFM Real Estate Index sank 2.1 percent, its biggest decline in a week. Qatar’s QE Index retreated 1.2 percent. “We are seeing some profit taking in Dubai this morning,” Ramez Merhi, a Dubai-based director for asset management at Al Masah Capital Ltd., which manages $500 million, said by e-mail. “With Ramadan on our doorstep and summer upon us we expect volumes to dry up while people partake in the holiday season.” More»
Amwal Al Ghad English - 2015-05-18 08:03:37
Gulf stock markets were mixed on Sunday after oil prices diverged while it remained unclear whether the truce in Yemen would be extended. Egypt's market extended losses on speculation that it might eventually lose emerging market status. Brent crude edged up on Friday but U.S. oil fell as traders and investors debated whether oil's rally over the past month and a half should continue amid stubbornly high supplies. In Yemen, a five-day humanitarian truce agreed last week was to end in the early hours of Monday, and no new agreements had been announced to extend it by the time stock markets closed on Sunday. More»
Amwal Al Ghad English - 2015-04-26 16:55:51
Most major Gulf stock markets, led by Dubai, went up on Sunday after the Brent oil price hit a 4-1/2-month high. Brent crude climbed to $65.80 a barrel on Friday because of continued fighting in Yemen and, although U.S. crude fell on concerns about another upcoming stock build, both benchmarks posted weekly gains. The main Saudi equities index gained 1.2 percent on Sunday to a 5-1/2-month closing high of 9,725 points as petrochemicals giant Saudi Basic Industries (SABIC), which would benefit from stronger oil, was the main support, jumping 3.5 percent. Saudi International Petrochemical Co (Sipchem) rose 4.0 percent, extending gains since it said last week that it had finished testing a new plastics plant owned by an affiliate.. Petrochemicals and metals firm National Industrialisation Co (Tasnee) added 2.8 percent after announcing it had picked contractors to build a titanium sponge plant for its majority-owned Cristal subsidiary. Retailer Jarir Marketing, which said on Sunday it had launched a new showroom in the city of Jazan, climbed 1.9 percent. Saudi Arabia's index still faces major technical resistance in the 9,572-9,745 point area, where the 200-day average roughly coincides with the March peak. Strong trading turnover in recent days suggests the resistance may break cleanly. UAE Dubai's index jumped 2.1 percent to 4,172 points, its highest close in nearly five months. The benchmark has risen 29 percent from a trough hit exactly one month ago. Trading focused on Bahraini investment firm Gulf Finance House, which surged its daily 15 percent limit, extending its recovery from record lows hit last month. The company completed a capital reduction last week, opening the way for possible dividend payments in future. Property developer DAMAC surged 7.1 percent after announcing on Sunday it had a development site on Al Reem Island in Abu Dhabi and the project there, which was awaiting approvals, would have a sales value of about 1 billion dirhams ($272 million). It provided no further details. Sanyalak Manibhandu, manager of research at NBAD Securities in Abu Dhabi, said Dubai investors were encouraged by strong results from United Arab Emirates banks which were mostly ahead of analysts' forecasts and showed that the level of deposits had not suffered from oil's plunge. "The past three to four weeks have been very strong, the market seems to have passed fundamental and technical tests," he said. "If it holds in the 4,100-4,200 area, you could see 4,500 (soon)." Union Properties and Aramex which will register shareholders for dividend payouts this week, gained 2.7 and 3.1 percent respectively. Abu Dhabi's market added 0.8 percent thanks to Abu Dhabi Commercial Bank, which jumped 2.2 percent. The lender posted a 31 percent leap in first-quarter profit last week, beating analysts' forecasts. Qatar's index inched down 0.1 percent mostly because of top lender Qatar National Bank, which fell 1.0 percent on very low volume. Property firms Ezdan Holding and United Development egded up 0.3 percent each ahead of earnings announcements. Ezdan posted a 13.4 percent increase in first-quarter profit after the close, while United Development said its profit had risen 8.5 percent. SUNDAY'S HIGHLIGHTS SAUDI ARABIA * The index rose 1.2 percent to 9,725 points. DUBAI * The index jumped 2.1 percent to 4,172 points. ABU DHABI * The index rose 0.8 percent to 4,666 points. QATAR * The index slipped 0.1 percent to 12,040 points. KUWAIT * The index edged up 0.2 percent to 6,341 points. OMAN * The index slipped 0.2 percent to 6,347 points. BAHRAIN * The index fell 0.9 percent to 1,385 points. More»