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Iran considers monetary reform
The government of Iran, along with the country's Central Bank are considering a monetary reform package that could include denomination adjustments and a possible change of name from the rial. Any plans to adjust denominations would need to wait until the country's inflation rate, currently hitting 30%, slows down.
Iran: Monday, December 01 - 2008 at 11:51

Saudi index soars
Saudi Arabia's benchmark stock index rose the most in two-and-a-half years yesterday. The Tadawul All Share Index surged 9.5% to 4,845.11 and the S&P 500 gained more than 12%, its best weekly performance since 1974. Saudi Arabian Refinery Company, a Saudi company investing in oil refineries and fuel distribution, gained the most in three weeks and Saudi Arabian Fertiliser Company, surged to the highest level in more than three weeks.
Saudi Arabia: Sunday, November 30 - 2008 at 12:32

Tehran signs Cyprus MoU
The Tehran Stock Exchange has signed a Memorandum of understanding with the Cyprus Stock Exchange. The agreements will cover eleven areas of shared cooperation as a way of expanding market access.
Iran: Sunday, November 30 - 2008 at 11:21

DFM foreign stock sales continue
Dubai Financial Market announced on Saturday that the value of shares bought by non-UAE nationals during the last week (November 23 -27) reached Dhs728.7m, which accounts for 36.2% of the total value of stocks traded during the period. Stocks sold by foreign investors during the same period reached Dhs800.8m, accounting for 39.8% of the trade value.
United Arab Emirates: Sunday, November 30 - 2008 at 09:52

Tasi downward trend hits 9.35%
The Tadawul All-Share Index (Tasi) has slid a further 9.35% last week which ended at 4,424.23 points as petrochemical and banking sectors face uncertainty. A report issued by Kasb Financial Group blamed speculation in the market as the reason for the downward trend.
Saudi Arabia: Saturday, November 29 - 2008 at 06:34

UAE markets finish higher
The Dubai Financial Market on Thursday gained 3.01% to finish on 1,928. Arabtec gained 15% for the third consecutive trading session after it said on Tuesday it would raise its capital through a bonus share issue. Emaar climbed nearly 10%. In Abu Dhabi, the ADX gained 1.31% to end the day on 2,720. Etisalat rose 2.92%, while Sorouh Real Estate and Aldar Properties gained 5.3% and 3.4% respectively.
United Arab Emirates: Thursday, November 27 - 2008 at 15:11

Acquisition of foreign assets by GCC tops $900bn
The cumulative acquisition of foreign assets by the GCC exceeded $900bn in the five years ended June 2008, according to a report by Samba Financial Group. The US has accounted for almost half the foreign assets accumulated during the past five years, the report said. The remaining half flowed to Europe, the Middle East, North Africa, and East Asia. GCC foreign asset accumulation in 2008 is likely to reach around $390bn.
Middle East: Thursday, November 27 - 2008 at 14:38

Jordanian exports to US down 14.8%
Jordan's exports to the US during 2008 dropped by 14.8%, but the decline does not reflect a weakening in ties between the two countries, said the US Ambassador to Jordan Robert Beecroft. He credited the decline to the financial crisis and said it is also a reflection of weakening demand in the US for particular products. Exports to the US from Jordan are down 14.8% in 2008, reported Jordan Times.
Jordan: Thursday, November 27 - 2008 at 14:29