amwalalghad :: Arab

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Misr Chemical Industries   5.65        Egyptians Housing Development    1.94        United Arab Shipping   0.43        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        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        United Housing & Development   8.93        Raya Holding For Technology An   4.57        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        National Development Bank   6.72        Six of October Development & I   15.03        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        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        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        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 - 2016-05-09 08:41:00
Shares in the Gulf were mixed in early trade Monday as some investors cashed out of stocks that had recently risen, while Dubai-listed Air Arabia surged after a quarterly earnings beat. Riyadh's index was flat in the first 40 minutes of trade. The food and agriculture index lagged other sectors, with heavyweight Savola Group dropping 1.0 percent. But petrochemical shares were firm as Brent oil prices stabilised over $45 a barrel in early Asian trade; Saudi Basic Industries edged up 0.6 percent. In Dubai, Air Arabia, the most heavily traded stock on the bourse, climbed 2.4 percent after the budget airline reported a 42.2 percent rise in first-quarter net profit to 111.1 million dirhams ($30.3 million); analysts polled by Reuters had on average forecast 88.8 million dirhams. But DAMAC Properties dropped 2.8 percent after the developer reported a 15 percent fall in first-quarter net profit, as revenue fell by a third compared to a year earlier. Shares in companies which have not yet reported first-quarter earnings were also weak, with Arabtec and Drake & Scull each retreating more than 2.0 percent. The general Dubai index was down 0.7 percent. Neighbouring Abu Dhabi's stock index fared better, edging up 0.3 percent. Blue chips provided the main support, with First Gulf Bank and Etisalat adding 1.2 and 0.3 percent respectively. Agthia Group rose 1.1 percent after reporting a 14 percent year-on-year rise in first-quarter net profit on a 12 percent increase in net revenue. Doha's index was also up 0.3 percent on the back of some buying interest in blue chips. Islamic bank Masraf Al Rayan and Qatar Gas Transport rose 0.8 and 0.4 percent. More»
Amwal Al Ghad English - 2016-05-05 09:28:05
Saudi Arabia is working to finalise the rules for a new stock market dedicated to small and medium-sized businesses (SMEs) that it expects to launch early in 2017, the chief executive of Saudi bourse said Tuesday. Tadawul announced last month that it planned to open the new exchange next year in a bid to improve access to capital and encourage better corporate governance. Saudi Arabia's economy is dominated by family businesses, many of whom have been reluctant to go public in the past, preferring to keep control limited to a small group of relatives. "The final fine-tuning of these criteria are being worked out today with related parties," Khalid al-Hussan said on the sidelines of a finance event. The government has not said if the new exchange will include companies already traded on the existing bourse. Small-cap firms are among the most heavily traded on the Saudi exchange as they are targeted by retail investors aiming to make a quick profit. Chairman of the Saudi Capital Market Authority, Mohammed al-Jadaan, told the same conference that there would be certain restrictions in place to ensure only investors who understood the risks could buy into the SME market. He did not give more details. While international institutions have been allowed to invest in Saudi Arabia since the middle of last year, trading on the kingdom's stock market is still dominated by local retail investors. Jadaan said the new SME exchange would likely have a lower minimum capital requirement for companies than Tadawul, adding it could be in "single digits" as opposed to Tadawul's 100 million riyals ($27 million) baseline. Reduced disclosure requirements would also likely be part of the SME market, Jadaan added. More»
Amwal Al Ghad English - 2016-05-04 09:55:01
Stock markets in the Gulf followed international bourses lower early Wednesday after oil prices dropped again overnight and concern about lacklustre global growth weighed on investors. Riyadh's index shed 0.2 percent in the first 45 minutes of trade in modest volume. Shares in the retail and petrochemical sectors were the main laggards. Jarir Marketing and Fawaz Alhokair, two of the largest retailers in the kingdom, dropped 1.3 and 0.8 percent respectively. But low-cost supermarket chain Alothaim , which could attract more customers during an economic slowdown, rose 1.8 percent. Dubai's stock market fell 1.5 percent, extending the previous session's losses. Most Dubai companies have now reported first-quarter earnings, many of which were in line with or fell below expectations. Emaar Properties, which early this week reported net profits in line with expectations, retreated a further 2.7 percent. But Dubai Parks and Resorts added 1.6 percent as rights to a share issue began trading on Wednesday. The trading period for the rights, worth 1.68 billion dirhams, will end on May 18. In Abu Dhabi, the index was weighed down by energy- related shares. Dana Gas and Abu Dhabi National Energy dropped 1.9 and 5.0 percent. The main index slipped 0.1 percent. But some blue chips gained; Abu Dhabi Commercial Bank and Etisalat each edged up 0.3 percent. More»
Amwal Al Ghad English - 2016-05-03 15:28:48
Gulf stock markets fell back Tuesday because of lower oil prices and a lack of positive drivers, while Saudi Arabia's bourse failed to get an immediate boost from reforms designed to stimulate trading and draw fresh foreign money. Brent crude futures fell about 1 percent on Tuesday after a 3 percent drop on Monday, encouraging Gulf investors to take profits on stock market gains made over the past several weeks. The Saudi index fell 1.2 percent as petrochemical blue chip Saudi Basic Industries lost 2.4 percent. Jarir Marketing fell 1.5 percent and Saudi Hollandi Bank lost 1.9 percent as both stocks went ex-dividend. The Capital Market Authority said it would lower the minimum assets-under-management requirement for foreign institutions investing directly in the market, and ease foreign ownership restrictions. For example, each foreign investor will be allowed to own a stake of just under 10 percent of a single company; previously, the ceiling was 5 percent. Meanwhile, the Saudi Stock Exchange said it would introduce the settlement of trades within two working days of execution, a reform that could help the market join MSCI global indexes. Currently, settlement is same-day, which is inconvenient for many foreign investors. The reforms will not be implemented before 2017, and other factors such as high valuations and low oil prices have also been deterring foreign investors, so the market did not react. Dubai's index sank 1.8 percent, while Abu Dhabi dropped 2.0 percent as some banks remained soft after last week's disappointing first-quarter earnings, with Abu Dhabi Commercial Bank losing 4.3 percent. Qatar fell 1.5 percent as real estate firm Ezdan Holding, which lost 2.7 percent on Monday after reporting its first-quarter earnings, dropped a further 3.8 percent. More»
Amwal Al Ghad English - 2016-05-03 14:18:23
Abu Dhabi-based international financial services firm, ADS Securities has launched Tuesday the first ever multi-asset smartphone trading application with full Arabic language functionality. The OREX Mobile application, available for download from the Apple Store or Google Play for Android devices, is intuitive, easy-to-use and designed to enhance the trading experience for professional users through to private investors. The app represents a major investment for ADS Securities and has been in development and testing for over two years. Philippe Ghanem, CEO and Vice-Chairman of ADS Securities, commented: "In just five short years, ADS Securities has established itself as one of the fastest growing brokerages in the world because of our unique business model: market-driven expansion of our products and services, investmwnt in innovative technology, and our commitment to offering the best prices and service. The development and launch of OREX Mobile is the natural next step in the evolution of our brokerage business. It is a new way to access our high standard of service combined with market-leading prices and spreads--OREX puts the power of a desktop in traders' pockets to make the markets work for them anytime, anywhere." The OREX Mobile trading app allows traders with smartphones and tablets to access more than 1000 instruments with a single swipe, whenever and wherever they are. Based on ADS Securities' award-winning OREX technology, mobile trading accounts can be opened, funded and operational in just minutes. The original OREX technology, launched in 2013, was designed to offer access to primary and secondary market liquidity at institutional standards of excellence. "This is the first mobile trading application designed in the region, for the region, using state-of-the-art technology. It offers international pricing, products and service, all tailored to the unique requirements of Middle East traders. OREX Mobile is a first in MENA and a major step forward in ensuring that Arabic language traders have access to the same tier 1 mobile trading technology available around the world," Mr Ghanem added. OREX is the comprehensive mobile trading solution, offering: · Full four language functionality: English, Arabic, Simplified & Traditional Chinese · Availability of more than 90 currency pairs and over 1000 CFDs (including Forex, Commodities, Indices and Single Stocks) · Risk management through an extensive range of order types · Real time DowJones news feed by asset class or trading pairs, available in all four languages · Advanced investment monitoring through Product Selector, Search & WatchList functions · Deposit and withdrawal to and from accounts with one touch top up · Economic news, calendar and daily market technical and fundamental updates in Arabic and English A series of updates and upgrades to OREX Mobile are scheduled for roll out within the coming 12-24 months. More»
Amwal Al Ghad English - 2016-05-03 09:18:51
Saudi Arabia’s stock exchange said it will cut the amount of assets foreigners must have under management to invest directly in the nation’s stocks, as it plans changes designed to allure more cash from overseas. Qualified foreign institutions with a minimum of 3.75 billion riyals ($1 billion) under management will be able to acquire a license to invest in the Tadawul Stock Exchange directly, down from 18.75 billion riyals, according to a statement on the market regulator’s website. The effective date of the change will be published by the end of the first half of 2017. In a separate statement, the exchange said it will amend its settlement cycle for share trading, bringing it in line with European markets. Saudi Arabia is seeking to open up one of the world’s most closed stock markets to more international participation. The $411 billion Tadawul started allowing limited foreign direct investment in June last year under rules that govern which foreign entities can invest and how much of each company and the market they can own. The kingdom’s Capital Market Authority has approved plans to adopt a so-called T+2 settlement, allowing a two-day settlement period for equity trades. The bourse currently uses a T+0 system, meaning same-day settlement. Adjusting the cycle may help it get added to MSCI Inc.’s emerging-markets gauge, according to analysts. Ownership Increase The Riyadh-based regulator will also allow individual foreign investors to own not more than 10 percent of shares outstanding in a single company, up from 5 percent. Furthermore, it agreed to the inclusion of new foreign financial institutions, including sovereign wealth funds and university endowments. Even though qualified foreign investors can currently collectively own as much as 10 percent of the market’s total value, they hold 0.97 percent, bourse data show. More»
Amwal Al Ghad English - 2016-05-03 08:52:27
Gulf stock markets consolidated in quiet early trade Tuesday with Saudi Arabia's bourse unmoved by the announcement of reforms designed to stimulate trading and draw fresh foreign money into the market. The Capital Market Authority said it would lower the minimum assets-under-management requirement for foreign institutions investing directly in the market, and allow each foreign investor to own a stake of just under 10 percent of a single company. Previously, the ceiling was 5 percent. Meanwhile the Saudi Stock Exchange said it would introduce the settlement of trades within two working days of execution, a reform that could help the market join MSCI global indexes. Currently, settlement is same-day, which is inconvenient for many foreign investors. But the reforms will not be implemented before 2017, and other factors such as high valuations have also been deterring foreign investors, so the market barely reacted. The Saudi stock index edged up 0.2 percent in early trade, with Arabia Insurance Cooperative climbing 3.1 percent after the regulator approved a request for it to reduce its capital. Jarir Marketing fell 0.8 percent and Saudi Hollandi lost 1.5 percent as both stocks went ex-dividend. Dubai's index was flat and Abu Dhabi dropped 0.5 percent as some banks remained soft after last week's disappointing first-quarter earnings, with Abu Dhabi Commercial Bank off 0.6 percent. Qatar edged down 0.1 percent. More»
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»