Lunate Capital launches Shariah-compliant ETF tracking Indian equities
ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...
Business
Business
DFM 2021 net profit $28m
Its total revenues reached AED294.6m in 2021, reduces expenses by 4 percent.
- In the fourth quarter of 2021, the net profit increased by 269 percent to AED65.7 million compared to AED17.8 million in the corresponding period of 2020.
- The company's Board of Directors recommended a 3 percent cash dividend to the shareholders, which is equivalent to AED240 million.
Economy
IACE President warns Tunisia as a state can collapse
The President of the Arab Institute of Business Leaders (IACE) Taieb Bayahi has warned that Tunisia as a state could...
- He added that it is necessary to save the remaining urgently, stressing that "the current economic situation does not allow us to waste any more time
- In a report published this month, the forum ranked Tunisia among the five countries threatened by the spectre of the collapse of the state
Business
Jordan’s trade with US touches $1.384bn in 2021
Jordan was the first Arab country to sign a free trade agreement (FTA) with the United States in 2000.
- The President of the American Chamber of Commerce in Jordan (AmCham) Mohammad Batayneh said in a statement
- He added that Jordan's exports during the first 11 months of 2021 nearly reached $2.5 billion, compared to $1,120 billion in imports
Business
TASI starts low; Emirati markets gain
The Emirati indices managed to show gains throughout the week, while the Saudi index was unchanged.
- After a tumultuous session, Saudi Arabia’s main index closed unchanged on Thursday
- The Dubai index advanced 0.5 percent on Thursday, supported by a 1.5 percent jump in NBD Bank
Business
Federation of Saudi Chambers calls for better Arab-Russia trade relations
Chairman of the Federation of Saudi Chambers (FSC) Ajlan Al-Ajlan has called for preparing a roadmap to enhance economic relations...
- Chairman of the Federation of Saudi Chambers Ajlan Al-Ajlan recommends establishment of joint companies and an e-platform to promote Russian and Arab products.
- Al-Ajlan also stressed the importance of overcoming financial and banking obstacles and stimulating Russian banks to open branches in Saudi Arabia.
Economy
Saudi merchandise exports shot up 82.5 percent
According to a report by General Authority for Statistics (GASTAT), the overall merchandise exports of Saudi Arabia increased by 82.5%...
- The value of exports amounted to SAR 107.3 billion ($28.61 billion) in November 2021, up from SAR 58.8 billion ($15.68 billion) in November 2020
- This increase originated mainly from oil exports, which rose by SAR 43.1 billion ($11.49 billion) or 112.8% in the same period
Infographics
Which are the top equity markets in the Middle East?
Here is a comparison between the top equity markets in the Middle East, and how they stack up against a...
- Saudi Arabia has Tadawul, or the Saudi stock exchange, whose benchmark index is known as TASI
- The UAE has the Dubai Financial Market (DFM) as well as the Abu Dhabi Exchange (ADX)
Economy
Iran’s trade transactions with neighbors tripled over past months: Official
With rise in trade transactions, the Iranian economic activity also grew notably
- National Security and Foreign Policy Commission members stress that optimum economic management was important for a better future.
- Spokesman of the Commisison Abbaszadeh-Meshkini said that the economic policies should be arranged in a way to make sure that the low-income people will not be harmed.
Business
TASI rises for 10th session, UAE bourses fluctuate
The surge in oil prices fueled the start of the week's high for the Saudi stock market, while the UAE...
- First Abu Dhabi Bank's share price rose by 3.9 percent to support the 1.6 percent advance in the Abu Dhabi index
- With Al-Rajhi Bank up 1.5 percent and SABIC's share up 1.8 percent, the Saudi index rose 0.5 percent on Wednesday
Business
Bitcoin crash tears through investor confidence
The cryptocurrency has lost more than 40 percent of its value since its $67,582.60 peak on November 8 last year.
- The world watched on Friday as the price of Bitcoin first dropped below $40,000 for the second time this month
- It then slid further to go under $39,000, a level it had not seen since August 2 last year, when it had closed at $38,191
Lunate Capital launches Shariah-compliant ETF tracking Indian equities
ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...
Business
Company News
Stocks mixed, dollar firms on rate-hike fears
Market Report
Latest News
Combined profit of capital market institutions in Saudi Arabia falls
RIYADH, SAUDI ARABIA - The combined profit of capital market institutions in Saudi Arabia dropped 19 percent to US$306 million...
Business
Stock markets rise globally on cooling US inflation
Stock markets jumped after data showed US inflation slowed further in May, raising hopes the Federal Reserve will pause its...
Business
Crypto exchange Binance halts US dollar deposits after action
WASHINGTON, US - The world's largest cryptocurrency exchange Binance said it was halting US dollar deposits and encouraged clients to withdraw...
Business
Most Read
Market Report
Stock markets give out mixed signals as traders await US debt ceiling vote
Stock markets wobbled as a deal to hike the US debt ceiling and avoid a painful default goes to a...
- Ultra-conservative Republicans feel House Speaker should have secured far deeper spending cuts in exchange for raising the debt ceiling.
- The left wing of the Democratic Party is equally unhappy that President Joe Biden agreed to any spending limits at all.
Business
DFM launches futures contract on General Index
Dubai, UAE - The Dubai Financial Market (DFM) on Monday announced the offering of futures contracts on its General Index...
- Trading futures contracts on the DFMGI offers investors the opportunity to access DFM’s largest and most liquid stocks.
- DFMGI will provide strong diversification and hedging opportunities for both retail and institutional investors.
Market Report
Stock markets advance on US debt, elections
Major stock markets advanced after President Joe Biden said he was "optimistic" about finding an agreement on averting a first-ever...
- The European Commission boosted its 2023 economic growth outlook for the eurozone but raised the inflation forecast for the area.
- European gas prices reached the lowest levels in almost two years as concerns about tight supplies ease heading into the summer.