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Gulf markets show slight recovery
Three Gulf markets registered strong rises yesterday including Saudi's Tadawul which jumped up by 1.6% after 5% loses last week. The three remaining Gulf markets saw sharp falls. Kuwait and Muscat continued their upward trend as KSE rose by 0.50% and Muscat by 0.25%. UAE markets have witnessed a new wave of falls, with DFM losing 1.1%, ADX 1.4%. Doha was the biggest loser with 1.7%, while Bahrain fell 0.10%.
Middle East: Monday, July 14 - 2008 at 09:37

GCC warned on asset bubbles
According to investment bank Merrill Lynch, GCC countries are still safe havens for investments as fiscal prudence of Gulf governments in the current oil boom makes it solid a macro story, according to news reports. However, analysts warned that monetary expansion and credit growth may push asset prices higher in the short term and inflate the asset bubble in the medium term.
Middle East: Monday, July 14 - 2008 at 08:27

UAE markets end low
The Dubai Financial Market declined by 1.13% on Sunday, ending at 5,287.63. Islamic Arab Insurance led the fall, followed by DFM and Air Arabia. The Abu Dhabi Securities Exchange also went down by 1.42%, ending the day at 4,925.45, as all sectors registered losses.
United Arab Emirates: Sunday, July 13 - 2008 at 14:22

KEC to list 30% shares in IPO
Knowledge Economic City Development Co. Ltd. (KEC) has announced it will offer 30% of its shares to an intial public offer. NCB Capital and Swicorp have been appointed as joint financial advisors. KEC is the third of four economic cities being developed in Saudi Arabia.
Saudi Arabia: Sunday, July 13 - 2008 at 12:16

Rasameel to enter Saudi market
Rasameel Structured Finance Company, a Kuwaiti securitization house, and Abdullatif Al-Essa Group based in KSA announced their plans to operate in the Saudi financial market. The two companies are in the process of establishing a closed shareholding company under the name of 'Rasameel Structured Finance Saudi Arabia', targeting a capital of SR900m (90 million shares).
Saudi Arabia: Sunday, July 13 - 2008 at 11:00

Tasi on third-day decline
The Tadawul All Share Index (Tasi) has retreated to 0.3%, ending at 8,971.32 on Saturday. The fall was attributed to losses taken by Banque Saudi Fransi and Samba Financial Group.
Saudi Arabia: Sunday, July 13 - 2008 at 09:15

DFM profit up by 100% in half year
The DFM has earned a net profit of Dhs560m from operational activities and investments during for the first half of 2008. This is an increase of 100% compared to Dhs280m for the same period in 2007. The total number of joint stock companies listed on DFM has reached 60 during first half of 2008.
United Arab Emirates: Saturday, July 12 - 2008 at 16:12

Al khaliji joins DIFC
Al khaliji has received its license to operate an office in the Dubai International Financial Centre (DIFC). Al khaliji services LTD, the company's new subsidiary will handle human resources, marketing, consulting, operations, operational risk management and IT banking integration functions.
United Arab Emirates: Saturday, July 12 - 2008 at 15:45