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        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        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        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 - 2016-02-03 09:08:14
Gulf stock markets edged lower early Wednesday after oil prices slid and Asian bourses dropped sharply following a sizeable fall on Wall Street. Qatar was hit hardest as petrochemical producer Industries Qatar tumbled. Dubai's index fell 1.1 percent in the opening 45 minutes as Emaar Properties dropped 2.7 percent. Courier firm Aramex edged down 0.3 percent after reporting a 36 percent fall in fourth-quarter net profit to 57.6 million dirhams ($15.7 million); SICO Bahrain had forecast 97.6 million dirhams. Abu Dhabi fell 0.5 percent in a broad-based decline although Waha Capital rose 1.6 percent in unusually heavy trade. Qatar's index sank 2.4 percent as Industries Qatar, the most heavily traded stock, dropped 4.8 percent. A major petrochemical and steel producer, it is exposed to both oil prices and infrastructure spending in the Gulf, which is slowing because of governments' austerity policies. Gulf International Services plunged 10 percent after it swung to a net loss of 20.9 million riyals ($5.6 million) in the fourth quarter; QNB Financial Services had forecast a profit of 278.9 million riyals. More»
Amwal Al Ghad English - 2016-02-01 13:12:55
Abu Dhabi, the Tawdheef Recruitment Fair is one of the most awaited events in the country since its launch in 2005. The fair has established itself as the country's leading recruitment platform among the government and private sectors. Participating for the 10th time is UAE Exchange , the leading global remittances, foreign exchange and payment solutions brand. The brand, as part of its commitment towards supporting the career aspirations of the Emirati youth and in alignment with the government's vision towards better employment opportunities, is offering 200 jobs to the UAE Nationals across its operations in the country. More»
Amwal Al Ghad English - 2016-01-25 07:49:07
Most Gulf bourses traded narrowly Monday, with investors torn between betting on further gains following a sharp rebound a day earlier or booking some quick profits and this lack of conviction indicates the bear trend could persist. Markets have tumbled to such an extent this year that many stocks are considered cheap by traders and fund managers, even after Sunday's rally. "Sunday's sugar rush is winding down," said a Dubai-based trader. "Daily traders turned a quick profit and cashed out and so the markets may continue to see-saw." Dubai's index rose slightly, then slipped into negative territory before again edging higher. It was up 0.3 percent at 0641 GMT. Emaar Properties, which surged 8.0 percent on Sunday, fell 0.2 percent. Arabtec, a stock favoured for speculative trade, fell 0.8 percent, erasing some of previous day's 10.0 percent rise. Abu Dhabi's bourse slid at the market open before rising 0.2 percent as of 0706 GMT. Etisalat was the main support, climbing 0.6 percent. In Qatar, the stock exchange gave back early-session gains to be down 0.7 percent at 0709 GMT. Qatar National Bank (QNB), Doha's largest lender dropped 0.5 percent. Gulf International Services, an oil-related company, climbed 1.2 percent, adding to the 9.9 percent gains it made on Sunday. More»
Amwal Al Ghad English - 2016-01-24 10:39:45
An initial public offering of Saudi Aramco, the world's biggest oil company, could be on the local or international markets but would not include Saudi energy reserves, the company's chairman said to Saudi-owned al-Arabiya television. "The reserves would not be sold, but the company's ability to produce from the reserves is being studied," Khalid al-Falih told the channel in an interview from Davos, Switzerland where the annual World Economic Forum was held last week. In an interview with The Economist earlier this month, Saudi Deputy Crown Prince Mohammed bin Salman said Riyadh might sell shares in Aramco as part of a privatization drive. Aramco has crude reserves estimated at about 265 billion barrels, over 15 percent of all global oil deposits, so it could become the first listed company valued at $1 trillion or more if it went public, analysts have estimated. But several sources familiar with official thinking told Reuters that Aramco's massive size, and the confidentiality surrounding it as the main instrument of the kingdom's oil policy, pose hurdles to any listing of the parent firm. They said Saudi Arabia is considering selling shares in refining ventures with foreign oil firms. Falih said there would be legal studies to make sure that what is offered is not the kingdom's crude reserves "but the company's ability to convert the production of these reserves to a financial value that the owners can benefit from. "The economic value of Saudi Aramco as a company is what will be offered. Naturally, the primary field of Saudi Aramco's work is managing the reserves of Saudi Arabia," Falih said. "The reserves belong to the state but the company's ability to convert these reserves... into a financial value and at the same time for the company to have a portion of these profits will be part of the value of the company," he told Arabiya. More»
Amwal Al Ghad English - 2016-01-24 09:10:38
Saudi Arabia stock market rebounded more than 3.0 percent in early trade Sunday, as investors took solace in the end of week rebound in oil prices and global bourses. Saudi's index surged more than 6.0 percent in the opening minutes of trade and touched 5,834 points, before falling back to 5,680 points, but was still up 4.0 percent. Petrochemical stocks, which have been battered by weakness in oil prices, carried the bourse higher. The sub-sector index climbed over 6.5 percent in first 10 minutes of trade. Saudi Basic Industries (SABIC), the largest petrochemical firm, surged 8.5 percent to 67.25 riyals ($17.93) per share. Earnings season has officially ended in Saudi Arabia, but some companies reported late on Thursday, before the rallies in oil and global stock markets. Al Rajhi Bank jumped 6.1 percent, the kingdom's second-largest lender by assets having reported a 28.2 percent rise in its fourth-quarter net profit on Thursday. The Islamic lender made 1.95 billion riyals ($519.6 million) compared to analysts forecasts of 1.67 billion riyals. The banking sector's total net income increased 3.8 percent year-on-year to 10 billion riyals while loans grew 8.2 percent over the same period, said a note by Saudi-based NCB Capital. "We believe that the increase in the bottom lines was primarily driven by higher operating income," the note added. Mobily rocketed 8.6 percent. The affiliate of the United Arab Emirates' Etisalat, made a net profit of 11 million riyals in the three months to Dec. 31, its first profit after nine quarters of losses. An analyst forecasted the mobile operator would make a quarterly profit of 125.1 million riyals. Zain Saudi, another telecom operator, traded up 5.9 percent. The company, 37-percent owned by Kuwait's Zain , made a net loss of 291 million riyals in the fourth quarter. Two analysts forecasted Zain Saudi would make a loss of 247 million riyals and 232.7 million riyals respectively. More»
Amwal Al Ghad English - 2016-01-21 09:51:02
Most Gulf bourses traded narrowly early Thursday as investors lacked the optimism to buy back beaten-down stocks aggressively, despite attractive valuations after the bear trend of the past several weeks. Dubai's index retreated in the opening minutes to test fresh multi-year lows, as Emirates NBD, the largest bank in the emirate, fell more than 2.0 percent in unusually heavy trade. The index then briefly traded in positive territory and was down 0.1 percent after an hour. Builder Arabtec, the most heavily traded stock, advanced 1.9 percent, trimming some of Wednesday's 7.7 decline. But Drake and Scull and Emaar Properties fell 1.3 and 0.5 percent respectively. Abu Dhabi's bourse dipped at the open before climbing 0.4 percent. Dana Gas gained 2.6 percent after falling more than 2.5 percent at the opening. First Gulf Bank and Abu Dhabi Islamic Bank , sector heavyweights, helped lift the index higher, trading up 1.0 and 1.7 percent. In Doha, the index fell 0.9 percent in the first 15 minutes with the sell-off concentrated in real estate developers. The biggest loser in the sector was large-cap Barwa Real Estate, down 2.7 percent. More»
Amwal Al Ghad English - 2016-01-19 09:35:23
Gulf bourses rebounded early Tuesday after global oil and equity markets stabilised for the time being at least, encouraging local investors to buy blue-chip stocks with attractive valuations. In Qatar, the index jumped 3.9 percent in the first 20 minutes, pulling away from multi-year lows. Masraf Al Rayan surged 9.9 percent and was the best-performing stock. Qatar's second-largest bank by market value reported a 3 percent fall in fourth-quarter net profit to 559 million riyals ($153.5 million), compared to analysts' forecast of 553 million riyals. Qatar National Bank was up 2.3 percent. The largest lender by market value in Qatar reported a 5.3 percent increase in fourth-quarter profit last week. Fitch Ratings affirmed QNB's long-term issuer rating at 'AA-' with a stable outlook. "The government has demonstrated strong commitment to its banks and key public-sector companies and we expect this to continue despite the effects of lower oil prices," Fitch said on Monday. Dubai's stock index traded up 2.9 percent in modest volumes. Builder Arabtec and real estate firm Deyaar each rose more than 4.0 percent. Abu Dhabi's bourse climbed 1.0 percent as investors bought blue-chip stocks which had recently seen their valuations plunge. First Gulf Bank and Abu Dhabi Commercial Bank rose 1.0 and 1.3 percent respectively, heading towards a second day of gains. National Bank of Abu Dhabi climbed 1.2 percent. More»
Amwal Al Ghad English - 2016-01-18 09:51:21
Dubai's stock market rebounded moderately in early trade Monday after the emirate's largest bank reported better-than- expected earnings, while other Gulf bourses also rose from multi-year lows. The Dubai index was up 0.8 percent after 50 minutes of trade, recouping some of the 15 percent which it had lost since the end of last year. However, the index was well off its early high - it jumped more than 2 percent in the opening minutes - showing continued pressure from investors wanting to exit the market because of concern about sliding oil prices and the global economy. Emirates NBD surged 4.5 percent in unusually heavy trade after it posted a 74 percent rise in fourth-quarter net profit. It reported a profit of 2.13 billion dirhams ($579.9 million); analysts at Beltone Financial and HSBC had forecast 1.31 billion dirhams and 1.71 billion dirhams. It also recommended a higher annual dividend. There was some bargain-buying in property-linked sectors. Builder Arabtec and Emaar Properties rose 4.8 percent and 1.1 percent respectively. Abu Dhabi's bourse climbed 1.5 percent; top gainers were the the two largest lenders by market value, First Gulf Bank and Abu Dhabi Commercial Bank, each jumping more than 2.5 percent. Abu Dhabi's banks have yet to report quarterly results, and some investors bet ENBD's earnings showed potential for more positive surprises among other lenders. In Qatar the index, which had plunged 7.2 percent on Sunday, advanced 1.3 percent in the first 15 minutes of trade. Telecommunications firms Ooredoo and Vodafone Qatar each rose more than 3.0 percent. More»
Amwal Al Ghad English - 2016-01-17 15:05:56
Middle East stock markets plunged to new multi-year lows Sunday, with Saudi Arabia tumbling more than 5 percent, as a fresh slide of oil prices and declines in global equities triggered panic selling. Many institutional investors were taken aback by the extent of Sunday's losses in the Gulf, the almost indiscriminate tone of the selling, and the lack of buying support in the market even when valuations reached low levels. Sentiment was hit hard by Brent oil's 6 percent drop on Friday to settle below $29 a barrel, bringing its decline for the week to 13 percent. Saturday's lifting of sanctions on Iran could in the short term push oil down further, as additional Iranian supply arrives in the global market. Gulf Arab governments have been putting in place austerity policies to stabilise government finances in an era of cheap oil. But the latest drop of oil prices, if sustained, could force another, more severe round of austerity. Saudi Arabia's 2016 state budget, for example, was based on an average Brent oil price of about $40, analysts believe. If oil stays at current levels, additional spending cuts could slow economic growth further - conceivably threatening a recession. "We will probably need a stabilisation of stock markets in China and the U.S., and of oil, before we see much buying in this region," said Sebastien Henin, head of asset management at The National Investor in Abu Dhabi. He said valuations of some stocks in the Gulf had become very attractive, and dividend yields were "amazing" at more than 5 percent across the region, but these factors were being ignored in the face of an uncertain global environment. The Saudi stock index tumbled 5.4 percent, its largest drop since last August, to 5,520 points, its lowest close since March 2011. That brought its losses so far this year to 20 percent. Only one stock rose - oil shipper Bahri, which swung wildly in its heaviest trade since December 2014 and closed 5.9 percent higher - while 165 stocks fell. Second- or third-tier speculative stocks favoured by local retail investors were hardest hit because of margin calls. Petrochemical blue chip Saudi Basic Industries lost 3.0 percent. Dubai's economy stands to benefit from the lifting of sanctions against Iran because the emirate is a hub for Iranian business. But that prospect didn't aid the market on Sunday, as the index slid 4.6 percent to 2,685 points, its lowest level since September 2013, bringing this year's losses to 15 percent. Blue chip Emaar Properties slipped 3.9 percent and construction firm Drake & Scull plunged its 10 percent daily limit to a record low of 0.32 dirham. Austerity policies in the region may add to pressure on construction firms, which have already been struggling with competition and high costs. Air Arabia, which could enjoy more air traffic to Iran after the lifting of sanctions, dropped 3.1 percent while port operator DP World, which may handle more trade, slipped 3.9 percent. Abu Dhabi's index sank 4.2 percent, led by real estate firms and banks; blue chip Aldar Properties lost 7.0 percent. Qatar's index tumbled 7.2 percent as drilling rig provider Gulf International Services, the most heavily traded stock, plunged 8.6 percent. In an austerity step, the Qatari government raised domestic gasoline prices by 30 percent at the end of last week, though they remain among the lowest in the world. More»
Amwal Al Ghad English - 2016-01-17 09:49:50
Stocks across the Middle East tumbled as the easing of sanctions against Iran raised the prospect of a surge in oil supplies to a market already reeling from the lowest prices in more than a decade. Shares in Tehran gained for a second day. Saudi Arabia’s Tadawul All Share Index dropped more than 7 percent to its lowest level since March 2011. Dubai’s DFM General Index lost 5.2 percent as of 1:12 p.m local time, the biggest loss in five months. Abu Dhabi’s ADX General Index headed toward a so-called bear market. Iran’s TEDPIX Index climbed 0.9 percent, according to data on the bourse’s website, extending Saturday’s 2.1 percent advance. Iran, home to almost 10 percent of the world’s proven oil reserves, is starting preparations to boost exports after the United Nation’s nuclear agency on Saturday said the country has complied with the terms of an international agreement to curb its nuclear program. That threatens to put further pressure on prices, hurting the oil-dependent economies of the six-nation Gulf Cooperation Council. "Iranian oil supply will come to the market as early as today or tomorrow," said Nayal Khan, the Riyadh-based head of institutional equities sales trading at Saudi Fransi Capital. "The market’s recovery will depend on whether we can get oil back above $30." More»