|TASI (Saudi Stock Market)||6169.23||-0.01%|
|DFM (Dubai Financial Market)||1404.34||1.84%|
|ADX (Abudhabi Securities Exchange)||2472.95||1.15%|
|KSE (Kuwait Stock Exchange)||5829.3||-0.10%|
|BSE (Bahrain Stock Exchange)||1157.51||-0.48%|
|MSM (Muscat Securities Market)||5508.85||0.60%|
|QE (Qatar Exchange)||8758.71||1.11%|
|LSE (Beirut Stock Exchange)||1195.92||1.49%|
|EGX 30 (Egypt Exchange)||4073.21||-0.36%|
|ASE (Amman Stock Exchange)||1976.35||-0.06%|
|TUNINDEX (Tunisia Stock Exchange)||4684.02||-0.03%|
|CB (Casablanca Stock Exchange)||10933||0.42%|
|PSE (Palestine Securities Exchange)||465.24||-1.21%|
Sunday, 4 December 2011
Middle East North Africa Financial Network
(MENAFN) Economist Intelligence Unit lately warned of new round of job cuts in the UAE next year, as companies seek to suppress costs amid fears a slowdown in Europe and the US could affect the Gulf state's economy, Arabian Business reported. ...
Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, was present.
The ADSS trading platform has already helped accessMiddle East liquidity at a vital time for trading,and established itself as a fast growing challenger in a very competitive market. With a high level of capitalisation, access to deep liquidity and positioned between the Far-East and western markets, ADSS has ambitious plans for the industry.
Christian Bock, ADSS Head of Sales, Europe and North America, said: “London is the primary hub for global FX trading and will remain so the foreseeable future, but the market is changing. We already offer some of the best prices and spreads across all the major pairs, but clients are now looking at more than just pips. They want to work with FX platforms that can show they are financially secure, well backed and can access liquidity when they need it. Clients need to know the brokerages and trading platforms executing their tradesaren’t encumbered by their own leveraged positions or toxic flows and are focused 100% on enabling client success. ADSS can provide the reassurance clients need with the trading edge they want, so we are delighted to be opening a dedicated London office.”
KHAC is a project envisioned in Kuwait's five-year development plan and aims to privatise expatriate health insurance and associated medical care. The project also includes plans to build and operate three new hospitals and 15 health clinics in the Gulf state.
The company is being set up with a capital of 318 million dinars ($1.15 billion) and the required equity to establish the firm is 30 percent, the logistics firm said in a statement to Kuwait bourse.
The regional markets will also draw comfort from surging global oil prices, which have returned to the $100 per barrel mark, boosting the coffers of the exporting countries.
On Friday, crude oil for January delivery rose 76 cents to $100.96 a barrel on the New York Mercantile Exchange, the highest settlement since November 16. Prices advanced 4.3 per cent last week and are up 10 per cent this year. Brent oil for January settlement rose 95 cents, or 0.9 per cent, to $109.94 a barrel on the London-based ICE Futures Europe exchange.
But many feel the long-awaited merger of the Emirates' three stock exchanges would complete the UAE market reforms.
Nasdaq Dubai and the Dubai Financial Market (DFM) consolidated some operations in July last year, but a tie-up between the emirate's exchanges and the Abu Dhabi Securities Exchange has proved elusive.
Dozens of lawsuits have been filed over stalled projects. And many buyers have been upset at unexpected fees and the quality of construction in newly completed developments, agents say.
"You would have thought Abu Dhabi would have learnt from the mistakes Dubai made," said Paul Preston, the managing director of Elysian Real Estate. "But that doesn't seem to be the case."
The index will aim to attract exchange-traded funds (ETFs), which track such indexes around the world and account for about US$1.5 trillion (Dh5.5 tn) in global equity investment.
"We are building a benchmark now for funds to invest in the region when the economy improves and oil prices pick up," said Fadi Khalaf, the secretary general of the Arab Federation of Exchanges, which counts 16 stock markets as its members including all GCC states, and which is helping to establish the index.
THE key witness for a company suing over a failed Dubai property deal that has seen two Victorian men detained since 2009 has admitted giving false statements.
David Brown, a senior executive for Queensland's Sunland Corporation, was giving evidence on Thursday in the company's lawsuit against Prudentia Investments Pty Ltd and its principal, Angus Reed, as well as former Dubai Waterfront Corporation executive Matthew Joyce.
Mr Joyce and another man have been on trial in Dubai for the past 18 months on charges of bribery relating to the sale of land in Dubai.
Bahrain Bourse has amended regulations and requirements for listing of closed companies at the bourse. A resolution in this respect was issued by board of directors chairman Yusuf Abdulla Humood.
The first article of the resolution stipulates cancelling two clauses.
The clause stipulating that the price of shares on the market should not be less than the paid-up percentage of the nominal value of each share was cancelled.