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 [...]
News & Views General
UAE based Etisalat is bidding to acquire the mobile-phone assets of Sri Lanka based Millicom International Cellular SA to expand overseas.
Jotun Paints won EGP 1 Mn worth contract from Alexandria Governmental Bureau and Arab Contractors Company for the delivery of 40 tons of white and yellow ‘Road Marking Paint’.
Kuwait is planning to [...]
News & Views General
Annual inflation rate in UAE is estimated at 3.5% to 4% in 2009 due to lower food prices.
Saudi Arabia based Almarai’s $253.2 Mn worth cash and stock bid for Hail Agricultural Development Co has received regulatory approval.
Depa repurchased 1,736,216 shares between August 1 and August 31, at an average price of $0.622.
GCC [...]
News & Views General
Depa won AED9.2 Mn worth contract in Angola to diversify its revenues and face the downturn in the domestic market.
Yahoo announced to acquire Arabic online portal Maktoob.com to expand in the Middle East. Yahoo will buy 100% stake in Maktoob.com and Maktoob Research.
Egypt’s economy is estimated to grow by 5.5% in FY09, [...]
News & Views General
Gold jewellery sale volumes in Dubai fell around 40 per cent in July on a year ago, as the economic downturn and summer heat deterred tourism. Tourists are a large part of the market for Dubai’s tax-free gold, but recession has eaten into disposable incomes and hit the flow of visitors to [...]
News & Views General
The Central Bank of Bahrain (CBB) has become the first regulator in the Middle East to set a minimum qualification bar for representatives of insurance companies to practice in the Kingdom.
Kuwait and Qatar have synchronized their power networks as they move towards the launch of a four-nation Gulf grid. Saudi Arabia successfully [...]
News & Views General
Agility has signed a contract valued at about $21 Mn to provide freight services for a project development by Lihir Gold Limited in Papua New Guinea.
Kuwait could post a budget surplus of up to 7.3 billion dinars ($25.39 billion) in its 2009/10 fiscal year if oil prices stay above $63 for the [...]
News & Views General
The power grids of Saudi Arabia, Kuwait, Qatar and Bahrain will be linked later this month – Gulf Cooperation Council Interconnection Authority (GCCIA). Gulf countries hope the $1.4 billion power connection project will help them meet rapidly rising power demand and avoid power outages.
Abu Dhabi National Energy Co announced plans for acquisitions [...]
News & Views General
§ France Telecom’s unit submitted an obligatory tender offer to acquire the entire stake of Egypt based Mobinil.
§ Saudi Arabia’s capital expenditure on development projects rose 103% y-o-y to SR40.6 Bn during the first quarter of 2009.
§ Oman and Uzbekistan have set up a joint investment company with a capital of [...]
GCC markets performed commendably during the week ended April 09, 2009. The robust performance of almost all the GCC bourses can be ascribed to the recent G-20 summit during which leaders put forward quite a few proposals to stabilize the global financial market and improve regulatory mechanisms. This may have encouraged investors to increase their [...]
