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AMEinfo.com News - Finance and Economy
Finance and Economy latest news and features

DP World recover ground at NASDAQ Dubai
17 May 2012 at 6:41am
The FTSE NASDAQ Dubai UAE 20 Index closed 0.58% higher at 1582.08 Thursday. DP World was the sole security which posted a price change at the Middle East's only international market. DPW gained 0.40% to reach $10.50. [AMEInfo.com]

Doha Insurance declines, denies having bought 3% in Siemens
17 May 2012 at 6:29am
The Qatar Exchange 20 Index declined 0.15% to finish a volatile week at 8,455.33 points. Doha Insurance fell 1.11%. Earlier in the day, Doha Insurance issued a statement requested by the bourse, saying that the article published in Gulf Times on May 2012, which stated that Doha Insurance acquired a 3% stake in Germany's Siemens, was incorrect. [AMEInfo.com]
Etisalat gains further, while energy shares lag behind in Abu Dhabi
17 May 2012 at 6:01am
The ADX General Index closed higher by 0.03% at 2,467.85 points. Trading remained dull as many traders preferred to stay on the sidelines amid confusing news from the Eurozone and the U. S. the Fed signalled to ease monetary policy in order to keep markets afloat amid fears of Greece's possible return to its old currency Drahme. Emirates Telecommunications or Etisalat ended at a three-week high at Dhs0.73. Abu Dhabi National Energy Co., known as Taqa, dived 2.50% to hit Dhs1.17. Sharjah-based Dana Gas closed flat at Dhs0.39. A staggering 13 shares ended even, reflecting the uncertainty at the bourse where 43.7m shares were traded Thursday, valued at Dhs69.5m. [AMEInfo.com]
Bargain hunting lifts Dubai bourse
17 May 2012 at 5:04am
The DFM General Index ended 0.65% higher at 1,475.58 points, as shares gained across the board amid low trading volumes. Arabtec added 1.04%, closing as the most liquid share at Dhs2.92. According to EFG Hermes, sentiment at the DFM has left the zone of extreme bearishness and is heading upwards. Market breadth was very positive Thursday, as twenty out of 26 shares traded advanced. Two stocks lost. The UAE's largest lender Emirates NBD posted the largest decline (off 0.73% at Dhs2.72). Around 70m shares were traded, valued at Dhs77.1m. [AMEInfo.com]
Kuwait may exhaust all oil savings by 2017 at current spend rate
17 May 2012 at 12:36am
The International Monetary Fund (IMF) has said Kuwait will have exhausted its entire oil savings by 2017 if it keeps on spending money at the current rate and would not be able to save oil receipts into its future generations fund, Reuters has reported. In addition to having to diversify its economy and improve its infrastructure and climate for investment, the Gulf country would also have to cut the fiscal deficit excluding oil and debt servicing by at least KD7bn ($25bn) by 2017 to ensure long-term fiscal sustainability. "The need of fiscal consolidation is larger and more urgent in a scenario of lower oil prices," the IMF added. [AMEInfo.com]
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