Leading providers of investment research, business and IP research and company valuation services
Easing inflation, strong corporate earnings and positive developments on Dubai World’s debt repayment helped GCC markets register strong gains in the week. The DFM (6.9%) was the top gainer during the week, while other GCC markets – barring Bahrain that closed flat – advanced 1–2%. UAE: UAE markets exhibited a positive trend in the week [...]
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 [...]
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 [...]
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 [...]
News & Views General Bahrain based Mashael Group announced to build a 30,000 barrels per day bitumen refinery in Oman that is planned to attain completion in 2012. UAE-based Emirates NBD PJSC, seeks to raise more than $500 Mn in 2009 by selling medium-term notes after a government guarantee for such instruments is approved. The [...]
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 [...]
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 $1.4 billion power connection project will help them meet rapidly rising power demand and avoid power outages. Abu Dhabi National Energy Co announced plans [...]
News & Views General § France Telecom’s unit submitted an obligatory tender offer to acquire the entire stake of Egypt based Mobinil. § Saudi Arabia’s capital expenditure on development projects rose 103% y-o-y to SR40.6 Bn during the first quarter of 2009. § Oman and Uzbekistan have set up a joint investment company with a [...]
GCC markets performed commendably during the week ended April 09, 2009. The robust performance of almost all the GCC bourses can be ascribed to the recent G-20 summit during which leaders put forward quite a few proposals to stabilize the global financial market and improve regulatory mechanisms. This may have encouraged investors to increase their [...]
According to Celnet, globally, Islamic banking assets are estimated to touch the range of US$ 650 billion-US$700 billion and have registered a growth rate of 10–15% per year over the last decade. As per Celent estimates, Islamic banking assets will continue to grow and will represent 5.1% of total banking assets by 2010. The Middle [...]
