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Tadawul begins year positively
At the close of Saturday trading, the Tadawul All Share Index registered a 4.59% increase to 5,023.22. All listed companies across the sectors managed to post gains, except for a few. Samba Financial Group in the banking sector dropped 1.46% and Saudi Fransi Cooperative Insurance Company and United Cooperative Assurance Co in the insurance sector fell 4.29% and 9.09%, respectively.
Saudi Arabia: Sunday, January 04 - 2009 at 13:49

Oman projects 'ongoing'
Despite a deficit of OR810m, Oman is not holding back any of its development projects for 2009. Ahmad Bin Abdul Nabi Macki, Minister of National Economy and Supervisor of the Finance Ministry said all projects in the Five Year Plan and additional projects are still on track.
Oman: Sunday, January 04 - 2009 at 10:13

Fund managers pick stocks for 2009
Fund managers in the UAE have expressed their outlook for stocks, all agreeing that real estate and banking, finance and investment sector stocks will continue to face pressure throughout 2009, Gulf News has reported. An ING Investment Management manager said his picks would be Air Arabia, Aramex, Dubai Financial Market, etisalat, Aldar and Emirates Foodstuff and Mineral Water Company.
United Arab Emirates: Saturday, January 03 - 2009 at 08:56

UAE markets finish near four-year lows
The Dubai Financial Market on Wednesday fell 0.19% to close on 1,636. The DFM was the worst performing index in the region in 2008, plummeting 72.4%, according to Reuters. In Abu Dhabi, the ADX rose 1.47% to end the day on 2,390. The index ended the year 47.5% lower. Both the DFM and ADX closed out the year just above four-year lows.
United Arab Emirates: Wednesday, December 31 - 2008 at 14:59

Amman exchange trading volume up 65%
The trading volume at the Amman Bourse reached JD20.3bn this year, a 65% increase compared to 2007, according to a press release issued by the Amman Stock Exchange. The performance of the bourse was marked by a 22% increase in the number of shares traded and a 9% rise in the number of contracts. The press release showed that a total of 5.4 billion shares were traded and 3.8 million contracts were executed.
Jordan: Wednesday, December 31 - 2008 at 13:45

UAE sovereign rating unchanged
Moody's Investor Service yesterday said the high ratings of the UAE federal government will not be affected by the steep drop in international oil prices. In its annual credit report on the country, Moody's kept the UAE's sovereign rating 'Aa2' with a stable outlook, its third highest investment grade.
United Arab Emirates: Wednesday, December 31 - 2008 at 11:57

US, Oman free trade pact to begin
A free trade agreement between the US and Oman will take effect tomorrow, lifting all tariff barriers to consumer and industrial products, according to US Trade representative Susan Schwab. The implementation of the agreement comes more than two years after it was approved by the US Congress.
Oman: Wednesday, December 31 - 2008 at 11:52

Qatar's GDP jumps 63% in Q3
Qatar's gross domestic product in the third quarter of 2008 totalled 108.4 billion riyals ($29bn), a 63% increase on the same period in 2007, according to the latest figures from the Qatar Statistics Authority. The oil and gas sector contributed 73% of the country's GDP, QSA reported.Qatar, which holds the world's largest non-associated gas reserves in the world, saw the gas sector contribute nearly half of the quarterly growth of its GDP, Gulf Times reported on Wednesday
Qatar: Wednesday, December 31 - 2008 at 11:44