amwalalghad :: Arab

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        National Development Bank   6.72        Six of October Development & I   15.03        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Money Markets - Arab

Amwal Al Ghad English - 2017-10-18 09:24:18
Shares in Dubai real estate developers may be in focus on Wednesday after two firms reported lower third-quarter earnings, reflecting continued pressure on the Dubai property market. Dubai’s DAMAC Properties posted a 20 percent year-on-year fall in profit to 719.34 million dirhams; revenues jumped almost 31 percent, but cost of sales surged to 1.3 billion dirhams from 788.6 million dirhams. Deyaar reported a similar poattern, with profit dropping 41 percent but revenue surging 55 percent. In Saudi Arabia, construction firm Khodari reported a quarterly net loss of 22.9 million riyals ($6.1 million), narrowing from a year-earlier loss of 54.4 million riyals. But the loss was still larger than the 12 million riyal loss forecast by EFG Hermes, and revenue sank 41 percent. Asian stock markets are barely changed, while Brent crude oil has firmed 43 U.S. cents to $58.30 per barrel. More»
Amwal Al Ghad English - 2017-10-17 11:19:50
State-owned Saudi Aramco has asked FTI Consulting to halt its investor relations advisory work related to the oil company's planned initial public offering, people familiar with the matter told Reuters on Tuesday. Aramco brought in Brunswick to advice on media relations and appointed FTI Consulting to manage investor relations. It was not immediately clear why FTI was asked to suspend its work for Aramco, but one of the sources said the latest decision could broaden Brunswick's role beyond media relations. FTI and Brunswick declined to comment on Aramco's move. Saudi Aramco did not respond to a request for immediate comment. China is offering to buy up to 5 percent of Saudi Aramco directly, Reuters reported this week citing sources, a move that could give Saudi Arabia more flexibility in floating the world's biggest oil producer on the stock market. More»
Amwal Al Ghad English - 2017-10-16 13:05:54
Most Gulf stock markets were firm in early trade on Monday with Saudi Arabia recovering from Sunday’s losses as the banking sector rose on Alinma Bank’s better-than-expected earnings. The main Saudi index edged up 0.2 percent in the first hour. Alinma Bank jumped 2.3 percent and was the most heavily traded stock; it reported third-quarter net profit of 542 million riyals ($145 million), up from 312 million riyals a year ago. Analysts had forecast an average of 493 million riyals. Other Saudi banks, which have yet to report earnings, were generally firm; Al Rajhi Bank was up 0.6 percent. The insurance sector, which sank last week on expectations for a shakeout in the sector caused by tougher regulation, was weak with Amana Insurance falling back 2.5 percent. Dubai’s index edged up 0.2 percent but Emaar Properties fell 0.7 percent. Abu Dhabi was flat; however, Aldar Properties gained 1.6 percent in heavy trade. Dana Gas, which is fighting sukuk holders in courts in Britain and the United Arab Emirates, arguing it does not need to redeem the instruments because they have become invalid, extended Sunday’s slide, falling a further 2.6 percent. Qatar’s index lost 0.4 percent although Qatar National Bank rose 0.8 percent, after reporting solid third-quarter earnings last week. More»
Amwal Al Ghad English - 2017-10-16 06:53:40
Gulf stock markets may be supported on Monday by a surge in oil prices, while better-than-expected earnings by a prominent Saudi Arabian bank may help that market. Brent oil has climbed 1.2 percent to $57.88 per barrel on Monday morning after Iraqi forces began moving towards oil fields held by Kurdish Peshmerga fighters near the oil-rich city of Kirkuk. Turmoil in Iraq has tended to have little or no negative impact on Gulf stock markets in recent years, so investors may react instead to the rise of oil prices, which could buoy petrochemical stocks. Alinma Bank may gain after reporting third-quarter net profit of 542 million riyals ($145 million), up from 312 million riyals a year ago; analysts had on average forecast 493 million riyals. In Abu Dhabi, however, United Arab Bank reported a net loss of 5.4 million dirhams ($1.5 million) for the third quarter against 17 million dirhams of net profit in the same period last year. Asian shares have advanced to a decade-high on Monday, with MSCI’s broadest index of Asia-Pacific shares outside Japan gaining for a fifth day running to its highest level since late 2007. More»
Amwal Al Ghad English - 2017-10-15 07:41:49
Gulf stock markets look set to consolidate on Sunday but an increase in tensions with Iran and a possible further delay of Saudi Arabian energy price reforms could affect some shares. In a major shift in U.S. foreign policy, U.S. President Donald Trump said on Friday he might ultimately terminate the 2015 agreement that lifted sanctions in Iran in return for Tehran rolling back technologies with nuclear bomb-making potential. This could usher in a period of heightened geopolitical uncertainty in the Gulf and prevent strengthening of economic ties between Iran and the rest of the world. This would be negative for Dubai, which could play a role as a base for such trade and investment. Few listed Gulf countries have major exposure to Iran but Saudi food giant Savola obtained 2.76 billion riyals ($736 million) of its 25.31 billion riyals of revenue last year from its Iranian business. One potential positive for Saudi stocks is that Riyadh looks increasingly likely to delay fuel price hikes originally planned for this year. The International Monetary Fund said last week that Riyadh was reviewing the speed of its austerity programme to avoid hurting its economy, and Saudi finance minister Mohammed al-Jadaan‍ told Bloomberg television in Washington at the weekend that the government would not rush to impose austerity steps. In Abu Dhabi, Union National Bank reported flat third-quarter net profit of 410 million dirhams ($111.7 million), at the low end of estimates; EFG Hermes had predicted 403.0 million dirhams and SICO Bahrain, 452.4 million dirhams. Global stock markets ended on a firm note at the end of last week, while Brent crude oil rose 1.6 percent to $57.17 a barrel. More»
Amwal Al Ghad English - 2017-10-12 08:17:35
Saudi Arabia’s stock market staged a modest rebound early on Thursday as insurance stocks stabilised, while solid quarterly earnings at Qatar’s biggest bank failed to boost that market. The main Saudi index, which had sunk 2.2 percent on Wednesday, was up 0.2 percent in the first half-hour. Twenty-five of the 33 listed insurance firms rose. All but one had dropped on Wednesday because of fears of an industry shakeout caused by a regulatory crackdown. Petrochemical blue chip Saudi Basic Industries recovered 0.2 percent and Bank Aljazira, which had plunged for two days after reviving a plan for a big rights issue, lost only 0.6 percent. Qatar’s index dropped 0.5 percent as Qatar National Bank slipped 0.4 percent. It posted a net profit of 3.60 billion riyals ($989 million) for the three months to Sept. 30, up 5.6 percent from a year ago; EFG Hermes had forecast 3.46 billion riyals and SICO Bahrain, 3.51 billion. The Dubai index gained 0.3 percent. Loss-making retail and restaurant investment firm Marka rose 0.7 percent after saying shareholders had approved a plan to continue operations; the company will exit its underperforming fashion and sports segments and restructure debt. More»
Amwal Al Ghad English - 2017-10-08 09:43:39
Construction firm Drake and Scull led a rise in Dubai’s stock market index in early trade on Sunday while Qatar’s continued dropping to fresh five-year lows, weighed on by the sanctions imposed on Doha by other Arab states. The Dubai index rose 0.3 percent as Drake & Scull , the most heavily traded stock, surged 6.4 percent to 1.82 dirhams, its highest level since April. The stock has been rising sharply in heavy trade since last Wednesday, after it completed a capital restructuring that involved Tabarak Investment receiving 500 million new shares. Investment bank Shuaa Capital jumped 6.5 percent, also in unusually heavy trade. In Abu Dhabi shares in Sudanese firm Sudatel Telecom rose by the 15 percent daily limit to 0.69 dirhams in heavy trade after the United States lifted 20-year-old sanctions against Sudan that had effectively cut the country off from much of the global financial system. A Dubai-listed Sudanese bank, Al Salam Bank Sudan, gained 9.6 percent; trading volume was above normal levels but still thin. Qatar’s market index sank 0.8 percent, heading for a fourth straight day of falls with the biggest bank, Qatar National Bank, dropping 1.5 percent. Data last week showed Qatar’s economy grew in the second quarter at its slowest rate since the global financial crisis, partly because of the sanctions. On Saturday the government announced measures to help private sector businesses, such as rent reductions in Qatar’s logistics zones, but it was not clear that this would do much to revive weak business sentiment. Saudi Arabia’s index fell 0.2 percent as petrochemical shares weakened after a drop in global oil prices at the end of last week; Saudi Basic Industries lost 0.7 percent. But National Agriculture Development Co climbed 4.6 percent after saying it had signed a memorandum of understanding with dairy firm Al Safi Danone Co, a partner of France’s Danone, to examine the possibility of NADEC acquiring Al Safi in a deal which would leave current Al Safi shareholders owning 38.75 percent of NADEC. More»
Amwal Al Ghad English - 2017-10-05 09:39:36
Saudi Arabia's energy minister told CNBC Thursday that progress is being made in preparations to launch state oil group Saudi Aramco on the international stock market. Speaking at an energy industry panel moderated by CNBC in Moscow, Khalid Al-Falih, who is also chairman of Saudi Aramco, said that the IPO (initial public offering) was set to happen in the second half of 2018. "The government is moving right ahead, as the chairman of Saudi Aramco I can tell you that our board remains focused on reviewing the preparations for that event by a very dedicated team within the company. It will take place in 2018 and there is nothing to indicate that that schedule is slipping," he said. Al-Falih said more details would be released in due course but would not be drawn on a more precise date. He said the IPO was significant for Saudi Arabia's economic transformation. "(The IPO) will be used as a catalyst to signify an opening up like no other of the Kingdom of Saudi Arabia, in terms of privatization, globalization and moving on and building on the solid foundation that oil has provided our economy to the next economy" he said. Speaking on the same panel, Russian Energy Minister Alexander Novak, said he did not know whether Russian investors would participate in the planned Saudi Aramco IPO. More»
Amwal Al Ghad English - 2017-10-05 09:39:35
Stock markets in the Gulf were mostly weak in early trade Thursday with individual stocks reacting to company-specific news in Saudi Arabia, while Qatar’s bourse continued to fall from a five-year low. Saudi-based insurer Metlife AIG ANB Cooperative Insurance surged its 10 percent daily limit after the company announced that the industry regulator had approved the opening of three new outlets in Riyadh, Jeddah, and Khobar. Metlife said the positive financial impact would be reflected in its fourth-quarter results. Arabian Cement was up 0.4 percent after announcing that it is in initial talks with privately held Safwa Cement for a potential merger. This would be the first merger in the history of the sector in Saudi Arabia, according to NCB Capital. The sector has been hit by a demand slowdown and a slump in profits over the last two years. Arabian Cement has a annual production capacity of 5.4 million tonnes while Safwa has 3.35 million tonnes. “The combined capacity of both players would make the potential new entity the second largest player in the market by overall installed capacity after Southern Cement,” said NCB Capital in a note. Rabigh Refining and Petrochemical, a joint venture between state-owned Saudi Aramco and Japan’s Sumitomo, lost 1.3 percent after saying it had shut its vacuum gas oil unit for 32 days as part of scheduled maintenance. Saudi Airlines Catering was up 0.6 percent after saying it had signed a three-year, 27 million riyal ($7.2 million) contract with state-owned Saudia Airlines to operate a central baggage warehouse. The company expects the positive earnings impact to be reflected in the first quarter of 2018. The main Saudi index was down 0.2 percent after 55 minutes of trade. In Kuwait, Zain surged 5.3 percent while Omantel rose 1.8 percent. Regional television network Al Arabiya quoted a securities analyst as saying there were rumours that Omantel was in talks with Kuwait’s Al Kharafi Group to buy a further 12 percent stake in Zain; in August, Omantel bought 9.84 percent of the company. Qatar’s index, which closed at a five-year low on Wednesday, continued to decline and fell 0.2 percent. Banking and commodity-linked shares were again the main drags; Commercial Bank lost 1.2 percent and Gulf International Services fell 0.9 percent. The Dubai index was up 0.1 percent in relatively thin trade with some of the previous session’s advancing shares extending gains; the Gulf’s only listed stock exchange, Dubai Financial Market, rose 0.9 percent. In Abu Dhabi, the index edged down 0.1 percent as First Abu Dhabi Bank lost 1.0 percent. More»
Amwal Al Ghad English - 2017-10-04 13:03:58
The banking sector helped the Saudi Arabian stock index outperform the region in early trade on Wednesday, but shares of a Saudi insurer were knocked lower after the financial regulator issued it with a warning. The Riyadh index was up 0.4 percent after 45 minutes of trade with the main support coming from the banking sector; National Commercial Bank was up 0.8 percent. Analysts at Al Rajhi Capital estimate the sector’s profits rose mildly in the third quarter because of higher net interest margins and broadly flat bad loan provisions. Saudi firms are expected to release quarterly results late this month. Mediterranean and Gulf Cooperative Insurance (MedGulf) slumped 4.1 percent in relatively active trade after saying it had received a warning from the central bank, which told the company to improve its capital adequacy ratio by Dec. 31 or be suspended from issuing new insurance policies. This year the regulator has cracked down on many insurance companies. Shares of SABB Takaful, which had dropped 3.6 percent on Tuesday after the regulator temporarily stopped it from issuing or renewing insurance or savings products, citing weaknesses in the firm’s internal controls, fell a further 0.3 percent on Wednesday morning. Qatar’s index lost 0.7 percent to a fresh five-year intra-day low. Commodity-related stocks were some of the worst performers; oil and gas drilling service provider Gulf International Services lost 2.5 percent. Abu Dhabi’s index dropped 0.5 percent, weighed down by the banking sector; the largest lender, First Abu Dhabi Bank , was down 1.0 percent. The Dubai index was flat as 15 shares rose and the same number declined. More»