|By TAP Staff| The United Arab Emirates’ stock exchange plans to offer a trading platform for shares in private joint-stock companies so that they can raise capital with less disclosure of corporate information than publicly listed firms. Prime Minister Sheikh Mohammed bin Rashid al-Maktoum said that trading would begin over the next few months on a special platform set up inside the country’s existing stock exchanges, state […]
The gold price dropped on Monday September 22nd to USD 1212 and EUR 942. Dollar gold is close to retest its bottom for the third time since mid-2013, a price level which was seen only in the summer of 2010. For readers seeking to understand what is going on, we are providing a comprehensive view on the gold market. We take all perspectives into account: price and chart patterns, […]
The Dow Jones Industrial Average (DJIA) Index is the only stock market index that covers both the second and the third industrial revolution. Calculating share indexes such as the Dow Jones Industrial Average and showing this index in a historical graph is a useful way to show which phase the industrial revolution is in. Changes in the DJIA shares basket, changes in the formula and stock splits […]
Saudi bourse to close on Tuesday for public holiday DUBAI, 1 days ago Saudi Arabia’s bourse will be closed on Tuesday, September 23 to mark the kingdom’s National Day. Trading will resume on Wednesday, according to a statement from the stock exchange. – Reuters This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please […]
Hedge funds extended this year’s longest exit from bullish gold bets as slumping prices and investor outflows since June erased $6.7 billion from the value of exchange-traded funds backed by the metal. The net-long position in New York futures and options fell for a fifth straight week, with speculators boosting short bets to the highest since June, U.S. government data show. Investors sold 7.75 metric tons of […]
Arabtec Holding said on Tuesday it was unaware of any stake sale agreement between its largest shareholders following reports that the company’s former chief executive was about to sell at least part of his stake. Arabtec “does not have the information” on such a deal, it said in a bourse statement. Shares in Arabtec jumped 3.7 percent to 4.77 dirhams on Monday following a report that its […]
|By TAP Staff| The UAE Securities and Commodities Authority plans to introduce new rules that will make it easier for local companies to raise resources from the market through dirham-denominated bonds. The new rules will also seek to reduce the cost of issuing bonds while making it faster for companies to issue and list their bonds. “We would like to see more active bond and sukuk markets […]
China will launch its international gold exchange 11 days ahead of schedule, sources said on Tuesday, racing ahead in the scramble to set up an Asian bullion benchmark as rival Singapore is forced to delay its gold contract due to technical issues. Asia, home to the world’s top two gold buyers – China and India, has been clamouring to gain pricing power over the metal and challenge […]
By Elzio Barreto, Fiona Lau and Liana B. Baker HONG KONG/NEW YORK Tue Sep 16, 2014 11:06am IST People walk at the headquarters of Alibaba in Hangzhou, Zhejiang province, April 23, 2014. Credit: Reuters/Chance Chan/Files HONG KONG/NEW YORK (Reuters) – Alibaba Group Holding Ltd raised the price range on its initial public offering to $66 to $68 on Monday, reflecting strong demand from investors for the year’s […]
ISTANBUL — President Recep Tayyip Erdogan of Turkey said on Monday that several exiled leaders of Egypt’s Muslim Brotherhood who fled to Qatar but lately have come under pressure to leave that Persian Gulf monarchy could perhaps find a new refuge in his country. “If they make any request to come to Turkey, such an application would be assessed and examined,” Mr. Erdogan said, according to a […]
|By TAP Staff| Dubai added to its financial market profile when Bank of America-Merrill Lynch announced on Monday it was moving its head of frontier markets research to the city. The move reflects the bank’s plan to take advantage of growing investor interest in the Gulf and surrounding region. Global firms have been strengthening their presence in the wake of surging stock markets, index upgrades and most […]
SAUDI ARABIA. Banks with experience arranging Islamic bond sales may stand to benefit from the potential opening of Saudi Arabia’s debt market to foreign investors, according to the investment banking unit of Mashreqbank PSC. (MASQ) “There’ll be a lot of potential for non-Saudi banks to get involved on the advising and arranging side,” Abdul Kadir Hussain, who oversees about $700 million as chief executive officer of Mashreq […]
|By TAP Staff| Asia is giving expression to its growing disenchantment with the prevailing West-centred gold pricing mechanism by setting in place its own benchmarks that reflect the region’s market dynamics. China and Singapore are preparing to launch physical bullion contracts with an eye on gaining pricing power of the metal at a time when the global benchmark is under scrutiny. CME Group, the world’s leading derivatives […]
Banks with experience arranging Islamic bond sales may stand to benefit from the potential opening of Saudi Arabia’s debt market to foreign investors, according to the investment banking unit of Mashreqbank. “There’ll be a lot of potential for non-Saudi banks to get involved on the advising and arranging side,” Abdul Kadir Hussain, who oversees about $700 million as chief executive officer of Mashreq Capital DIFC Ltd. in […]
Investors in Dubai continued to accumulate cash in early trade on Thursday ahead of the $1.4 billion initial public offer of Emaar Malls Group, a subsidiary of Emaar Properties, the largest listed developer in the emirate. The Dubai index fell 1.3 percent as most stocks were in the red. Emaar itself was the main drag, falling 1.8 percent as its shares no longer entitled their holders to […]
Apple Inc. (AAPL)’s prospects seem a lot brighter than they were the last time Tim Cook introduced an iPhone. When Chief Executive Officer Cook unveiled two new smartphone models 12 months ago, Apple’s stock was slumping and the company was losing market share to Samsung Electronics Co. and low-cost manufacturers such as Xiaomi Corp. Questions abounded about whether Apple could keep innovating without co-founder Steve Jobs. Fast […]
By Liana B. Baker, Avik Das and Soham Chatterjee Sat Sep 6, 2014 5:31am IST People play in a hall inside Alibaba’s headquarters in Hangzhou, Zhejiang province, April 23, 2014. Credit: Reuters/Chance Chan/Files REUTERS – Alibaba Group Holding Ltd seeks to raise more than $21 billion in an IPO that will value the Chinese e-commerce giant at up to $163 billion and rank as the largest-ever technology […]
Investors holding shares in Dubai’s Emaar Properties at the end of trading on Sept. 10 will qualify for priority allotment in the flotation of its mall unit later this month, the developer said on Wednesday. Emaar plans to float at least 15 percent of its shopping malls and retailing unit on Dubai’s main stock market and will list the shares in October, it said on Sunday. Ten […]
By Bret Jensen: There was a solid article in this week’s Barron’s, an industry standard weekly magazine. Barron’s interviewed Richard Pzena who is the CEO of Pzena Investment Management (NYSE:PZN); a firm that manages billions of dollars thorough a variety of entities. Mr. Pzena made the long term case for owning some of the biggest banks. He believes three of the big drivers of earnings should improve […]
Secretary-General Hassan Al-Thawadi (3rd L) of Qatar’s Supreme Committee for Delivery and Legacy, the nation’s 2022 World Cup organising committee, speaks during a news conference to announce the start of work on the Al-Khor Stadium in Al-Khor in June. Reuters Investors in Qatar are likely to hold their breath, and cash, this month: Well, at least until FIFA reports on its investigation of the bidding process for […]
Emirates NBD (ENBD), Dubai’s largest lender, plans to sell a benchmark-sized capital-boosting bond, a document from lead managers said on Monday, looking to take advantage of favourable markets to strengthen its reserves. ENBD has chosen Citigroup, Commerzbank, Deutsche Bank, Morgan Stanley, Standard Chartered and its own investment banking arm to arrange investor meetings ahead of a potential issue, the document said, confirming what banking sources told Reuters […]
By Lior Cohen: Silver’s downward trend reached an impasse last week. Let’s examine the relation between silver and U.S. equities and gold. Also, will the upcoming non-farm payroll report adversely impact the price of silver? Last week, silver inched up 0.2%. The silver ETF, iShares Silver Trust (NYSEARCA:SLV), also edged up by 0.1%. Moreover, companies, including Silver Wheaton (NYSE:SLW) and Pan American Silver (NASDAQ:PAAS), also slightly recovered […]
Middle East funds are bullish on Saudi Arabia’s stock market despite concern it is getting richly valued, while they think the United Arab Emirates has bottomed out after a volatile few months, a Reuters survey showed. The Saudi stock market index has jumped 13 percent since authorities announced in late July that they would open the market to direct investment by foreign institutions in the first half […]
Emaar Properties will launch its highly anticipated initial public offer of at least 15 percent of its shopping malls and retailing unit on Dubai’s main stock market in September, and plans to list the shares in October. The offer would be one of the largest equity sales in the Middle East since 2008, underlining Dubai’s recovery from a credit crisis that forced many state-linked developers to stall […]
