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Wednesday, 17 June 2015

MIDEAST STOCKS-Most Gulf markets edge up, tracking oil; Saudi flat | Reuters

MIDEAST STOCKS-Most Gulf markets edge up, tracking oil; Saudi flat | Reuters:



"Most Gulf stock markets edged up on Wednesday after oil prices jumped, but the approach of the Muslim holy month of Ramadan limited gains because trading activity usually drops sharply during this period.



Saudi Arabia's main index closed nearly flat as stocks were mixed. Alinma Bank and Saudi Basic Industries, the two most heavily traded stocks, both fell 0.3 percent.



However, leading retail bank Al Rajhi, which could benefit from an anticipated U.S. interest rate hike later this year, rose 1.2 percent as investors awaited a statement from the U.S. Federal Reserve later in the day after its policy meeting."



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Champions of Qatar: Stock exchange chief’s bid for more Doha companies to go public | The National

Champions of Qatar: Stock exchange chief’s bid for more Doha companies to go public | The National:



"Rashid Al Mansoori became chief executive of the Qatar Stock Exchange (QSE) in 2011 after a four-year stint with Qatar Investment Authority.



Under his leadership, and in partnership with the international exchange operator NYSE Euronext, the QSE has become one of the leading exchanges in the region, with a current total market capitalisation of US$175 billion.



Last year, along with the UAE exchanges, the QSE was upgraded to emerging market status by the index provider MSCI and by the ratings agency Standard & Poor’s. He answered questions from The National via email."



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Oil prices edge up as US stocks, production seen falling | GulfNews.com

Oil prices edge up as US stocks, production seen falling | GulfNews.com:



"Crude prices were virtually unchanged in early Asian trade on Wednesday as firm demand met strong output, with the market waiting for U.S. storage figures later in the day.



Front month U.S. crude was trading at $60.12 per barrel at 0642 GMT, up 15 cents from its last settlement.



Brent futures were up 13 cents to $63.83 a barrel."



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UAE to witness the strongest growth in private wealth in the GCC | GulfNews.com

UAE to witness the strongest growth in private wealth in the GCC | GulfNews.com:



"Over the next five years, private wealth in the UAE is projected to post a compound annual growth rate of 10.7 per cent to reach an estimated $1 trillion (Dh3.67 trillion) in 2019, according to the BCG Global Wealth Report 2015.



The study which measures the growth dynamics of global financial wealth of households showed that private wealth in UAE showed solid growth or 8.4 per cent in 2014. In the UAE, the growth of private wealth was driven mainly by equities. Between 2013 and 2014, the amount of wealth held in equities rose by 13.8 per cent across the nation, compared with 1.6 per cent for bonds, and 6.9 per cent for cash and deposits.



Based on BCG’s comprehensive study, the UAE is poised for further growth in the next five years, with the wealth breakdown anticipated to be 43 per cent in cash and deposits, 9 per cent in bonds, and 47 per cent in equities."



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MIDEAST STOCKS-Saudi Arabia, Egypt inch down ahead of Ramadan | News by Country | Reuters

MIDEAST STOCKS-Saudi Arabia, Egypt inch down ahead of Ramadan | News by Country | Reuters:



"Stock markets in Saudi Arabia and Egypt slipped in early trade on Wednesday, the last day before the beginning of the Muslim holy month of Ramadan, during which trading activity usually slows considerably.



The main Saudi index inched down 0.1 percent as most blue chips declined. Alinma Bank, the most traded stock, slipped 0.1 percent while runner-up Saudi Basic Industries was unchanged.



Some market players had expected this Ramadan to be different in Saudi Arabia, which this week opened its market to direct foreign investment."



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Recession risk in Switzerland - YouTube

Recession risk in Switzerland - YouTube: ""



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