The Dubai Financial Market (DFM)’s General Index advanced to reach at 2,156.34 levels during the first couples of hours trading on Wednesday 08th May 2013, adding 6.61 points or 0.31 percent. Real Estate and Investment & Financial Services sectors appeared at top during this time span, showing a growth of 0.8 percent each. Transportation was the other significant advancer with 0.77 percent.  Advancers outnumbered the decliners with a margin of 15 to 9.  United Foods Company (UFC) topped the chart of gainers’, surging 10.09 percent.  Oman Insurance Company (OIC) led the chart of losers’, dropping 9.92 percent.  Gulf Finance House (GFH) with more than 75.7 million shares dominated the share trading activity. More»

Most Gulf markets rose as upbeat sentiment in local fundamentals encouraged renewed buying. UAE bourses rallied, with Dubai’s measure up 1.9 percent to end at a fresh 41-month high. The number of shares changing hands — at 547.9 million — is the highest one-day volume on the index in 14 months. Air Arabia and Dubai Investments jumped 5.8 and 5.7 percent respectively. Sentiment has improved in the emirate as Dubai successfully restructured some of its maturing debts and repaid others, and the two main sectors present on the exchange — real estate and banks — have somewhat recovered from the 2008 financial crisis. Dubai’s government said earlier it had fully repaid AED 3.34 billion ($ 909 million) of bonds which were due on April 23. More»

Abu Dhabi Securities Exchange (ADX) took part in the The Fifth Annual Research Symposium in Business and Economics organized by the School of Business and Management of the American University of Sharjah. Mr. Rashed Al Baloushi, CEO of ADX, partook in a panel discussion on Accountability and Transparency. ADX CEO addressed ccorporate transparency in the aftermath of the recent financial scandals worldwide. He also talked about rules and regulations put in place by ADX to improve corporate transparency and how ADX is enforcing these rules. “ADX requires listed companies with securities traded on the exchange to ensure appropriate transparency through a regular flow of information to the markets and to the market participants. This information consists of yearly, half-yearly and quarterly financial information, and on-going information on major holdings of voting rights.” ADX CEO said during his panel discussion. More»

The Abu Dhabi Securities Exchange - ADX General Index wavering in the green zone reached at 3,282.31 levels during the first couples of hours trading on Thursday 2nd May 2013. The index added 8.81 points or 0.27 percent. Investment & Financial Services sectors was the key gainer, showing a growth of 9.46 percent. Real Estate followed it with 0.80 percent.  Industrial and Energy sectors turned red, dropping 4.23 percent and 0.03 percent respectively.  The marjet breadth was positive with 14 stocks witnessing advances against 7 declining stocks and the prices of 4 stocks remained unchanged.  Oman Emirates Investment Company (OEIHC) topped the chart of gainers’, surging 14.58 percent.Ras Al Khaimah Ceramics Company (RAKCEC) led the chart of losers’, dropping 9.52 percent. Abu Dhabi Commercial Bank (ADCB) with more than 262.7 million shares dominated the share trading activity on volume basis. More»

The Dubai Financial Market (DFM)’s General Index following the typical falling trough peak combination dropped 0.83 percent during the first couple of hours trading on Thursday 2nd May 2013. The index trimmed 17.69 points to reach at 2,118.98. The market breadth was negative as there were 11 advancing companies during this time span against the 14 declining stocks. Investment & Financial Services and Banks sectors performed worst, dropping 3.02 percent and 1.60 percent respectively.  Industrials sector showed a growth of 6.53 percent.  National Cement Company (NCC) topped the chart of gainers’, surging 9.97 percent.  Dubai Islamic Insurance Reinsurance Company (AMAN), on the other hand, topped the chart of losers’, dropping 5.35 percent. More»

Kuwait’s benchmark index climbed on Wednesday to a three-year high on bets investors will boost stock purchases after their retail loans are canceled. Kuwait Food, the company known as Americana, advanced to the highest since 2008 and Combined Group Contracting Co., a construction company, increased the most since March 14. The Kuwait Stock Exchange Index (KWSEIDX) rose for a ninth day, gaining 1.8 percent to 7,562.83, the highest since April 2010, at the close in Kuwait City. The measure surged 11 percent last month, the sixth-best performer among 94 indexes tracked by Bloomberg. The Arab Gulf country’s parliament last month passed a law requiring the government to pay 744 million dinars ($2.6 billion) to purchase citizens’ loans taken before March 30, 2008 and write off all interest before rescheduling payments. The law also requires banks to repay borrowers who were charged more than 4 percentage points above the base rate. Some 47,444 Kuwaitis who borrowed from conventional banks are eligible to benefit from the law, according to estimates by lawmakers. More»

The DFM General Index inched down to drop 0.85 percent during the first couple of hours trading on Monday 29th April 2013. The index spending most of the session below the break – even line trimmed 17.85 points to reach at 2,090.78. The market breadth was strongly negative as there were only 7advancing companies during this time span against the 16 declining stocks. Telecom and Banks sectors performed worst, dropping 1.7 percent each. Insurance followed it with 1.26 percent. Services sector showed a growth of 2.00 percent. Drake Scull International Company topped the chart of gainers’, surging 2.10 percent. Takaful Al-Emarat Insurance, on the other hand, topped the chart of losers’, dropping 6.66 percent. More»

The ADX General Index hovering between north and south stepped down to reach at 3,272.32 levels during the first couple of hours trading on Monday 29th April 2013. The index trimmed 5.90 points or 0.18 percent. Services and Investment & Financial Services sectors dropped 1.59 percent and 1.37 percent respectively. Energy sector followed them with 0.71 percent. Consumer staples, on the green side, advanced 5.06 percent. Oman Emirates Investment Company topped the chart of gainers’, surging 14.29 percent. National Bank of Fujairah, on the other hand, topped the chart of losers’, dropping 9.68 percent. More»

Dubai shares climbed to the highest in more than three years on bets economic growth in the emirate will accelerate, pushing its credit risk lower. Dubai Islamic Bank PJSC (DIB), the emirate’s biggest bank complying with Muslim banking rules, surged to the highest in more than three years. Emaar Properties PJSC (EMAAR), the developer set to report results this week, rose to the strongest level since March. Drake & Scull International PJSC (DSI) soared the most in since December 2009. The Dubai Financial Market General Index (DFMGI) gained 1.6 percent to 2,108.63, the highest since November 2009. Dubai, the second-biggest sheikhdom in the United Arab Emirates, is recovering from a property crash and a debt crisis helped by a rebound in the tourism, trade and retail industries. The economy is set to expand 4.6 percent, on average, between 2012 and 2015, more than twice the average growth in the prior four years, government forecasts show. More»

A delegation from Abu Dhabi Securities Exchange (ADX) took part in the 7th Financial Markets Exhibition and Conference which held place in Cairo, Egypt. Mr. Saif Sayah Al Mansouri, head of Listed Companies and head of Media at ADX said of the event:” we always welcome the idea of partaking in such events where we gather and confer with our colleagues and counterparts from around the world.” Mr. Al Mansouri added that:” Abu Dhabi is a dominant player in the world of money and finance in the region, and as result ADX places great significance on supporting and partaking in such events. We remain fully committed to the business community in the UAE, and we, as a securities exchange have a great understanding of the business sector needs and its rapid growth in the emirate.” The head of Listed Companies at ADX reiterated:” The 7th Financial Markets Expiation and Conference allows us a distinctive opportunity to profile the Emirate as an investment destination and as a business hub within the Middle East.” It is noteworthy to say that the ADX booth at the conference attracted many visitors who sought to know more about the initiatives, goals, and the role that ADX plays in the development of the economy of Abu Dhabi, as well as the general strategies of the Abu Dhabi government. More»