amwalalghad :: Arab

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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 - 2013-11-28 08:37:23
Dubai expects to publish in one or two weeks new standards for issuing and trading Islamic bonds, which it hopes will become adopted globally, a senior financial executive in the emirate said on Tuesday. "The standard is there, up and running, if anybody wants to have it adopted," Essa Kazim, chairman of bourse operator Dubai Financial Market (DFM), told Reuters. Kazim, who on Jan. 1 will also become governor of the Dubai International Financial Centre, the emirate's tax-free financial zone, said the standards would be published "in a week or two". In January this year, Dubai launched a drive to develop its Islamic business sector and said becoming a centre for sukuk issuance and trading was a key part of the plan. New global issuance of sukuk has grown rapidly for most of the past several years and is projected to hit $237 billion in 2018, up from an estimated $100 billion this year, according to a Thomson Reuters study released this month. But the expansion of the market has sometimes been slowed by disputes between scholars, issuers and investors around the world over what types of debt structures are religiously permissible. Sukuk do not pay interest and are structured to offer investors returns in other ways. Dubai hopes that by introducing clear, detailed standards for sukuk and convincing global investors that they obey the letter and the spirit of Islamic rules, it can attract more international business to its market, which competes with other centres such as London and Kuala Lumpur. Last year, only several billion dollars worth of sukuk were listed on Dubai's exchanges, but this year the emirate has encouraged state-run companies to list domestically. Kazim said he expected a total of $16 billion worth of sukuk to be listed in Dubai by the end of this year, and that new regulations would support the listing of Islamic bonds in currencies other than U.S. dollars and United Arab Emirates dirhams, which are already permitted. He did not give details of the new standards, but in February Mabid Ali Al-Jarhi, a member of the board overseeing Islamic business at DFM, said they would be more explicit than standards used elsewhere on whether sukuk structures - including controversial ones such as tawarruq - were permissible. Kazim also said Dubai had finalised a new set of standards that fund managers could use to determine whether equities complied with Islamic principles. He did not elaborate. More»
Amwal Al Ghad English - 2013-11-28 08:35:22
United Arab Emirates stock markets rose on Wednesday on last-minute bets that Dubai would win the right to host the 2020 World Expo. Most other Gulf bourses also climbed, while Egypt extended losses to a nearly four-week low. Dubai's main index advanced 0.5 percent to its highest finish since Nov. 10, although it gave back almost half of its intra-day gains. The measure is 1.8 percent below the multi-year high hit in October. "Trading in the last month has been more cautious but people are pricing in the Expo win until right before the results," said Sanyalaksna Manibhandu, senior analyst at NBAD Securities. "Whatever the result, you will see profit-taking." The winning Expo bid is to be announced later on Wednesday. Many analysts are predicting a short-term rally followed by a sell-off to take profits if Dubai wins, and a steeper sell-off in case of a disappointment. But buyers may then return before the year-end to re-position for annual dividends and fourth-quarter earnings. "You will see better results for the full year, particularly from the banking sector, because impairments have come down," Manibhandu added. Trading was heaviest in stocks which retail investors believe would benefit most if Dubai hosts the Expo. Dubai Investments, which owns land around the proposed expo site, rose 3.1 percent. Emaar Properties climbed 1.3 percent and Union Properties added 2.7 percent. The optimism spread to neighbouring Abu Dhabi, with the index there also rising 0.5 percent. Abu Dhabi National Building Materials jumped 8.9 percent; the stock is now up 116 percent this year, following five years of losses. Qatar's benchmark meanwhile rose 0.8 percent to 10,353 points, a one-week high and near the year's peak of 10,445 points. More»
Amwal Al Ghad English - 2013-11-19 09:57:01
Bourses across the Gulf gained on Monday along with global markets, with the exception of Kuwait , where property stocks dropped after a local developer reported a widening third-quarter loss. "There is enough momentum to push markets right now and there are at the moment no negative external factors," said John Sfakianakis, chief investment strategist at Saudi investment firm MASIC. Dubai posted the biggest gain on Monday, jumping 1.5 percent, although analysts said the move reflected its increased volatility in the run-up to the Nov. 27 decision on the emirate's bid to host the Expo 2020 world fair. Abu Dhabi's bourse rose 1.1 percent. Gulf airlines, led by Dubai's state-owned Emirates and Abu Dhabi's Etihad, ordered about $100 billion of planes on the first day of the Dubai Airshow on Sunday, a signal of optimism by the governments of the two emirates. More»
Amwal Al Ghad English - 2013-10-31 14:43:18
Qatar's shares outperformed regional markets on Thursday, rising to a six-week high as bargain hunters returned to the overlooked market, while other bourses also edged higher. Doha's index climbed 0.8 percent to its highest level since Sept. 19. The market has been trapped in a sideways range in recent weeks due to earnings that disappointed investors. Large-caps Qatar National Bank and Industries Qatar were the main support, rising 2.1 and 1.9 percent respectively. Earlier this month, QNB posted a 14.3 percent rise in quarterly earnings which missed estimates, while IQ reported a six percent drop in nine-month profit. UAE markets meanwhile, struggled to make gains ahead of a long weekend. Dubai's index added 0.2 percent, trading in a tight range since hitting a five-year peak earlier this week. "There's little upside in UAE - the re-rating of multiples has already been done," said Ali Adou, portfolio manager at The National Investor. Investors optimistic that Dubai will win the right to host the World Expo 2020 have already positioned funds, Adou said, adding that earnings have also been priced in. More»
Amwal Al Ghad English - 2013-10-30 08:18:38
Mixed earnings in UAE triggered marginal profit-taking on Tuesday while Saudi Arabia's bourse declined for a third consecutive session after its largest-listed firm reported earnings that disappointed investors. Abu Dhabi's telecom operator Etisalat weighed on the bourse and dampened sentiment after it reported an 18 percent drop in third-quarter profit and fell short of analysts' forecast. Large-cap First Gulf Bank fell 1.5 percent after reporting earnings that matched estimates. Abu Dhabi's measure slipped 0.7 percent, but it lacks direction as it remains in a 100-point range for the last four weeks. The sentiment spilled over to Dubai, where the benchmark dipped 0.8 percent, down for a second session since Sunday's five-year high. But daily trading volumes were the lowest in three weeks. More»
Amwal Al Ghad English - 2013-10-25 10:24:02
Qatar's bourse fell to a three-week low on Thursday as weak third-quarter earnings prompted many investors to look elsewhere for buying opportunities; other regional markets rose. Shares in heavyweight Qatar National Bank fell 1.7 percent to 160.0 riyals, their fifth consecutive loss, nearing technical support at the September low of 158.0 riyals. Earlier this month, the lender posted a 14.3 percent rise in third-quarter net profit that slightly missed analysts' forecasts. "The results so far haven't supported the bullish market outlook," said Ahmed Shehada, head of trading at QNB Financial Services. "Institutions are selling across the board but there is selective buying on some names. "The macro fundamentals remain intact and if we see positive earnings surprises on companies that haven't reported yet, we could see buyers return." Telecommunications operator Ooredoo lost 1.4 percent and Masraf al-Rayan shed 0.5 percent. The Islamic bank has not yet announced third-quarter earnings; analysts polled by Reuters on average expect it to post a third-quarter profit of 415 million riyals ($114 million), which would be up 15.9 percent from a year earlier. More»
Amwal Al Ghad English - 2013-10-21 07:46:16
Saudi Arabia's petrochemical shares led a bourse rally on Sunday as earnings boosted sentiment, while most regional markets also rose as they resumed trading after a week-long holiday and reacted positively to the U.S. averting a debt default. Shares in Saudi Kayan Petrochemical surged 9.6 percent to a nine-month high after it swung to a third-quarter profit. The company made a profit of 43.3 million riyals ($11.55 million), compared to a net loss of 178.4 million riyals in the same period last year, according to a bourse statement. Parent firm Saudi Basic Industries Corp (SABIC) jumped 5.4 percent, helping lift the sector's index by 5 percent to a 17-month high. "So far the petrochemical results have been better than expected - the biggest surprise is Kayan, which reported its first ever profit after eight quarters of operations," said Iyad Ghulam, petrochemical analyst at NCB Capital. "It's mainly from efficiencies - they've managed to reduce cost of operations." "The read across on Sabic from the petchem earnings so far is they might report better than expected results due to higher prices for the third quarter. We'll see positive surprises on all firms," he added. More»
Amwal Al Ghad English - 2013-09-30 08:46:16
Dubai’s stock index climbed to the highest in almost five years as investors sought riskier assets after political tension over Iran and Syria eased and the U.S. delayed cutting monetary stimulus. Israeli stocks rose. The benchmark DFM General Index (DFMGI) gained 1.2 percent to 2,770.67 at the close in Dubai, the highest since November 2008. Gulf Navigation (GULFNAV) Holding PJSC, which owns and operates a tanker fleet, soared to the highest in more than three years, while Dubai Financial Market PJSC (DFM), the Gulf’s only publicly-traded stock market, closed at the highest in a month. Emaar Properties PJSC (EMAAR), the developer of the world’s tallest tower in Dubai, advanced the most in more than a week. Political tension in the Middle East have eased after Iranian President Hassan Rouhani had a phone conversation with U.S. President Barack Obama, the highest-level encounter between the two country’s since before Iran’s Islamic revolution of 1979. Also, Syria agreed to a UN-led plan to destroy its chemical weapons. The Federal Reserve unexpectedly delayed Sept. 18 reducing monetary stimulus, boosting global sentiment for equities. More»
Amwal Al Ghad English - 2013-09-29 09:46:12
The UAE is considering whether to impose a tax on the billions of dollars which foreign guest workers send back to their home countries every year, government and banking sources said. It is unclear whether authorities will proceed with the tax, which would mark a major shift of policy, potentially raising costs in the economy and reducing the supply of foreign labor on which much of the UAE’s boom is based. But the proposal reflects growing concern in the UAE and other Gulf countries that they may be becoming too dependent on foreign workers and are losing too much of their wealth in the form of remittances abroad. A circular discussing the proposal and requesting feedback was sent to some banks and financial institutions in the UAE, the sources said. “It is a pilot project, in the initial stages. Based on the feedback from banks and others, a decision will be taken,” said a Ministry of Finance source. More»
Amwal Al Ghad English - 2013-09-23 08:31:12
Renewed worries about the possibility of U.S. monetary tightening caused most Gulf stock markets to drop on Sunday, while Egypt rose on the back of an interest rate cut by its central bank. Like other markets around the world, Gulf bourses rose last week in response to the U.S. Federal Reserve's surprise decision to maintain its monetary stimulus. But on Friday, St. Louis Federal Reserve Bank President James Bullard said in an interview on Bloomberg TV that a start to winding down the stimulus was possible in October, depending on economic data. So the euphoria surrounding last week's Fed decision is fading quickly. Although the booming Gulf is less vulnerable than most regions to tighter U.S. monetary policy, its markets are near multi-year peaks that were hit in August, leaving them vulnerable to profit-taking. "Renewed talk that the Fed could be slowing down the stimulus and the U.S. markets are affecting us - foreigners are cutting positions," says Yassir Mckee, wealth manager at Al Rayan Financial Brokerage in Doha. "Some are selling now to show cash on the books, because it's almost the end of the third quarter." More»