Google+ Followers

Saturday, 26 January 2013

SASEIDX Quote - Tadawul All Share TASI Index - Bloomberg


Snapshot for Tadawul All Share TASI Index (SASEIDX)

Open:6,998.34Day Range:6,996.11 - 7,025.77

Previous Close:6,998.3452-Week Range:6,423.60 - 7,944.36

Index Chart for SASEIDX

  • SASEIDX:IND 7,017.02
  • 1D
  • 1M
  • 1Y
1/264am5am6am7am ET6,990.007,000.007,010.007,020.007,030.00
6,998.34
7:29:00 am
7,017.02
Interactive SASEIDX Chart
Previous Close

SASEIDX Quote - Tadawul All Share TASI Index - Bloomberg

Saudi Arabian Shares Rise, Led by Banks, Petrochemicals - Bloomberg

Saudi Arabia’s benchmark stock index rose the most in two weeks, led by banks, petrochemicals and telecommunication companies, amid optimism about fourth-quarter earnings and gains in U.S. equities.
Al Rajhi Bank (RJHI), the kingdom’s biggest bank by market value, climbed to the highest since Jan. 20. Saudi Basic Industries Corp. (SABIC), known as Sabic, advanced the most in more than two weeks, while Saudi Telecom Co. (STC) increased the most in a week.
The Tadawul All Share Index added 0.4 percent to 7,025.31 at the close in Riyadh, the biggest gain since Jan. 12.
Saudi Arabian Shares Rise, Led by Banks, Petrochemicals - Bloomberg

Saudi Arabia's jobless rate 12.2% - Zawya

The unemployment rate in the Kingdom stood at 12.2 percent in 2012 with over 588,000 jobless Saudis out of the more than 4,800,000 citizens in the working age group, a study said.

"Of the total Saudi citizens in the working age group, 3,900,000 are men. They represent 80.6 percent of the labor force," said a survey on the Saudi labor force published in the 2012 bulletin of the Central Department of Statistics and Information.

The study was conducted among the country's population who were in the age group of 15 years and above.
Saudi Arabia's jobless rate 12.2% - Zawya

Saudi Arabia's jobless rate 12.2% - Zawya

The unemployment rate in the Kingdom stood at 12.2 percent in 2012 with over 588,000 jobless Saudis out of the more than 4,800,000 citizens in the working age group, a study said.

"Of the total Saudi citizens in the working age group, 3,900,000 are men. They represent 80.6 percent of the labor force," said a survey on the Saudi labor force published in the 2012 bulletin of the Central Department of Statistics and Information.

The study was conducted among the country's population who were in the age group of 15 years and above.
Saudi Arabia's jobless rate 12.2% - Zawya

How the UAE Can Avoid Another Real Estate Bubble

The United Arab Emirates is preparing itself for a new wave of affluence in the booming real estate sector, particularly in Dubai and Abu Dhabi. The new projects that have been announced lately aim to invest in the country’s huge oil revenues and use the influx of people and capital lured in by the U.A.E.’s current stability. It is currently viewed as a “safe haven” in a region that has experienced the spread of Arab Spring revolutions in several countries in the past two years.
A report issued last month by AlixPartners about the Gulf banking sector stated that several regional banks have been adversely affected by financing faltering real estate projects in the past. There are also concerns about the quality of the proposed assets and indebtedness as a result of the latest boom in the real estate markets. Amid this spreading affluence, the U.A.E. Central Bank is imposing new limitations on the policies of mortgage loans to show the interest of the country’s legislative and regulatory bodies in this new real estate boom. Yet, local and international banks are still worried about loan policies related to real estate development projects in the country, at a time when many of these banks remain afraid to lend money for such projects.
How the UAE Can Avoid Another Real Estate Bubble

Start-up incubator Flat6Labs to expand throughout Mena region - The National

Flat6Labs, the start-up incubator based in Egypt, is planning to expand to other countries in the Arabian Gulf and Middle East, and is in talks with potential partners in the UAE.

The Cairo-based incubator, a partnership between the American University of Cairo and the venture capital firm Sarwari Ventures, was founded at the start of 2011 just as unrest first swept the country. As a result, its launch was postponed for a few months, with the first intake of entrepreneurs in October that year.

But the unrest has done nothing to dampen Flat6Lab's work or the energy of Egypt's entrepreneurs since, says the chief executive Ramez Mohamed.
Start-up incubator Flat6Labs to expand throughout Mena region - The National

Rates sink with oil tanker glut - The National

A glut of the world's largest oil tankers has caused a collapse in the charter rates on the oil industry's busiest trade route this week, according to figures released by the Baltic Exchange.

Daily earnings for the very large crude carriers (VLCCs) plying between the Arabian Gulf and Japan fell from US$3,997 (Dh14,680) to $962, said the London-based exchange, the world's only independent source of maritime market information.

The drop of 76 per cent was the biggest since last September, as the supply of vessels, each capable of carrying 2 million barrels of crude, overwhelmed demand to charter the ships. The forecast for the next month is just as gloomy, according to the Bloomberg News regular shipbrokers' survey.
Rates sink with oil tanker glut - The National

Oil supermajors must rethink their game plans - The National

As one of the lieutenants of the former BP boss John Browne, Tony Hayward had a front-row seat at the creation of the oil supermajors. He was to captain one of the premier-league behemoths created by the wave of mega-mergers in the late 1990s. But speaking in Abu Dhabi this month, he now seems to have cooled on the business model he helped to pioneer.

With oil prices touching record lows of about US$10 per barrel in 1998, the industry became convinced that bulk was a winning strategy. In response to the internet mania and "New Economy" companies such as the gas trader Enron, Big Oil needed a compelling story.

The majors argued that acquiring smaller competitors would allow them to cut costs, eliminate redundant staff and execute the large opportunities opening up in deep water and the former Soviet Union.
Oil supermajors must rethink their game plans - The National

Dubai bond sale set to spur credit markets - The National

The ease with which Dubai was able to tap bond markets this week will act as a catalyst for a string of companies looking to raise debt as demand for credit from the region shows little sign of cooling off among international investors.

However, analysts warn that Dubai is benefiting as much from investors hungry for returns in markets awash with cheap funding as from a belief in its recovering fundamentals.

The US$1.25 billion (Dh4.59bn) sale of bonds and sukuk debt by the Government of Dubai closed in one day as the full details were announced on Wednesday.
Dubai bond sale set to spur credit markets - The National