Leading providers of investment research, business and IP research and company valuation services
GCC markets posted gains with Qatar and the UAE advancing the highest this week by 3.7% and 4%, respectively. Banking stocks reported steady gains across markets and markets in Saudi Arabia, Oman and Kuwait also displayed modest gains of less than 0.5%, while Bahraini markets posted 1.14% gain.
UAE: Value buying emerged in the UAE markets [...]
All GCC markets, except Oman, ended the week on a negative note. UAE market continued to witness selling pressure, while Saudi market pulled back from last week’s corporate earnings-led rally. Oman appeared to be bucking the GCC trend on the back of robust earnings results through the week; MSM index closed 1.67% higher. Kuwait and [...]
GCC markets ended the week on a mixed note. The UAE market witnessed selling pressure owing to renewed concerns over the debt level of Dubai World. The Saudi market edged higher due to strong corporate earnings results, while markets in Qatar and Oman closed lower. The Kuwaiti government’s investment plans were viewed positively—the KSE gained [...]
GCC markets ended the week on a negative note, with Dubai (down 7%) cracking the most. All markets, except Bahrain, failed to extend last week’s gains. Investors in the region looked to the corporate earnings season for cues; mixed results were reported in Saudi Arabia.
UAE: UAE markets saw heavy profit booking, ending the two-week winning [...]
GCC markets ended the first trading week of the year on a positive note. All markets, except Bahrain, ended the week with 1–3% gains. Oman (up 3%) and Saudi Arabia (up 2.3%) gained the most.
UAE: UAE markets extended last week’s gains, with DFM and ADSM adding 1.9% and 1.2%, respectively, in the week. News of [...]
GCC markets witnessed mixed trends in the last trading week of the year 2009. While UAE, Oman and Bahrain markets ended on a positive note, those in Qatar, Saudi Arabia and Kuwait closed 1-2% lower in the week ended December 31, 2009.
UAE: UAE markets recovered after last week’s downtrend. The DFM and ADX gained 2.5% [...]
News & Views General
Topaz Energy and Marine, a wholly owned subsidiary of Oman’s Renaissance Services, divested its offshore support vessel TEAM Siam to Thailand’s Mermaid Offshore Services Ltd for $29.5 Mn.
Bahrain Flour Mills Company received about BD10 Mn as a government subsidy in 2009, due to the rise in the global wheat prices. The company [...]
News & Views General
Gulf Finance House bought back $9 Mn worth of sukuk in the fourth quarter of the year.
US-based Ripplewood Holdings sold the remaining 4.7% stake in Egypt based Commercial International Bank.
Abu Dhabi government announced the establishment of the Emirates Nuclear Energy Corporation, which will award AED151 Bn worth of contract to one of [...]
GCC markets witnessed selling pressure across counters and dropped 1-2%, failing to hold on to levels achieved after a strong rally in the previous week. Baring Saudi Arabia, all other GCC markets succumbed to profit booking this week, with Dubai (down 6.4%) cracking the most.
UAE: UAE markets saw heavy selling pressure throughout the week, with [...]
News & Views General
Saudi Arabian Mining Company signed an agreement with Alcoa to build $10.8 Bn worth aluminium complex.
Saudi Arabia based Al-Tayyar Travel Group plans to raise $320 Mn from an initial public offering. The company is eyeing 30% stake in its UK counterpart to fund its expansion.
Fitch Ratings affirmed ratings for the Industrial Bank [...]
