In 4 June 2015, Dubai Stock Market will apply trading period according to the latest closing price.

 Dubai Financial Market announced on Monday its intention to apply the upgraded version of the "pre-closing session", as well as the introduction of "trading period according to the latest closing price", starting on Thursday, June 4, 2015.

A press statement which "Mubasher" received a copy of it pointed to that: "pre-closing session " will provide with its new form, a framework for regulating the various operations of input and cancel orders, and matching buy and sell orders, while "trading period according to the latest closing price" and its duration is of 5 minutes, allow for investors to put their orders in accordance with the closing price (the bid price calculated through the system).

The Dubai Financial Market has applied a "pre-closing session," initially in May last year.

The new arrangements comes as outcome of extensive discussions with dealers in the market, as part of the continuing efforts of the market for the development of its infrastructure in line with the best practices in this area.

Under that developed formula "session before the closure" will be from one o'clock and 45 minutes at noon to one o'clock and 55 minutes and 20 seconds. And "the session" includes on a timetable regulates the introduction of new commands and modify or cancel it, and includes three phases: commands input phase, ban cancel orders stage, and matching buy and sell orders phase.

As it is the case since the adoption of the market for pre-closing session, this session is a "commands accumulation period", allowing for brokers and investors to input deferred implementation orders until the completion of the matching process.

With regard to the "trading period according to the latest closing price" it would be between one o'clock and 55 minutes and 20 seconds till two o'clock and 20 seconds, allowing for brokers and investors to put enforceable orders, whether new orders, or pre-entered, according to the closing price only and reliance to be on the previous closing price in the absence of a new closing price during the same meeting.

"The main advantages of the trading period according to the latest closing price" is one of the many Dubai Financial Market initiatives; to keep up with the market upgrade by MSCI Foundation.

The trading period according to the latest closing price will contribute to reduce the likelihood of an imbalance in the Order Book if the margin was between the prices of supply and demand during the session before the closure was high.

The trading period according to the latest closing price also promotes the efforts of investment institutions to re-balance transactions, as well as deal flow of customers; regardless of session's data before closing that have a significant impact on the price matching process before closing.

And "the session" allows for investors trading opportunity, or modifies ranking on the basis of the closing price.

"National Bank of Dubai" includes bonds of 951 million $ in NASDAQ Dubai

Emirates National Bank of Dubai (EMIRATESNBD) has announced, today Sunday, May 17th, the inclusion of bonds in NASDAQ Dubai, with a total value of up to 951 million US $.

 

The "Bank" said in a press statement "Mubasher" received a copy of it: that the processes of raising capital, one of them worth 550 million euros (601 million US dollars), and the second value is of 350 million US $, reflecting the continued expansion of Emirates National Bank of Dubai as a leading financial institution in the area.

The "statement" pointed to that: The Emirates National Bank of Dubai Group is the largest source of bonds in the capital markets in Dubai, as it included eight operations with a total nominal value of 4.78 billion US dollars.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates National Bank of Dubai said: "In the context of the pursuit of Emirates National Bank of Dubai to expand its banking and financial activities in the United Arab Emirates and the world, we see that NASDAQ is the ideal destination that supports our efforts. The strong ties that bind investors in the stock market all over the world, in addition to high-level regulatory standards, provide an inclusion environment characterized by reliability and effectiveness. "

For his part, Essa Kazim, Governor of the Dubai International Financial Centre, and Chairman of the Dubai Financial Market, said: "The recent inclusion operations carried out by the Emirates National Bank of Dubai, confirm Dubai's role as a privileged capital markets which allows inclusion operations of various foreign currencies, and contribute to the achievement of attendance and spreading around the world. Dubai stock exchanges will continue to strengthen its procedures, as part of its work to meet the needs of dealers in the market. "

In his turn, Abdul Wahid Al Fahim, Chairman of NASDAQ Dubai, said: " NASDAQ Dubai, the global stock market in the region, keens to support economic growth and wealth creation in the region, and it is striving to achieve those goals by facilitating the collection of capital by many issuers of the private and public sectors that play an active role in growing sectors. "

Hesham Abdullah Al Qassim, Vice Chairman of the National Emirates Bank Dubai said: "Cooperation between Emirates Bank NBD and Nasdaq Dubai offers strong support for the growth of capital markets in the UAE. Also infrastructures which are provided by the stock market which, in addition to strong relations with investors make it the Ideal platform for Emirates NBD and other issuers to offer their securities. "

For his part, Shayne Nelson, executive chief of the bank said: "In the Emirates NBD we continue to diversify our funding sources by issuing debt securities in a wide range of currencies".

The total nominal value of conventional bonds listed on NASDAQ Dubai currently reaches up to 8.77 billion US dollars, taking into account the nominal value of the processes of the last two inclusions of Emirates NBD, valued at 550 million euros or 350 million US dollars which has been included in the March 24 and May 7, 2015.

24 billion dollars are the size of the assets of the Saudi Investment Funds

General Secretary of the Information and Banking awareness Committee in Saudi banks, Talaat Hafez ,, said that the volume of mutual fund assets in Saudi banks is nearly 90 billion riyals, the equivalent of 24 billion dollars, and that till the current month of May.

 

He added, "There are 250 diversified investment funds, either open or closed, represents one of the leading investment banking channels," according to "Middle East newspaper ".

This comes while recent data announced by the Saudi Arabian Monetary Agency about the decline of number of participants in the investment funds, as it reached about 246 thousand subscribers by the end of 2014. The decrease reveals more than 50%, compared to the year 2005, with reference to the fact that the assets of local and foreign investment funds consist of stocks, bonds, cash, tools, other assets, and real estate investments.

Hafez stressed that all investment channels of the Saudi banks do not have the right to take the decision to dispose of the balance on behalf of the client, whether in money management or be involved in any investment channel, on the grounds that the first and last decision is for the client, even if the client is of the owners of dormant accounts that Over the years without a move, he says.

By asking Hafiz how much stagnant money at Saudi banks is, he stressed absence of any figures about that, saying: " numbers are variable in instantaneous manner thus it is difficult to be identified, along with that there is a classification of accounts, as accounts which are not witnessed any movement within 6 months are considered in-active accounts, and so to be up to 5 years without any movement, and thus be described as stagnant accounts. "

"GFH" controls third of Dubai trading market

"JF Kennedy H" share, formerly house Gulf Finance, inscribed in the Bahrain Stock Exchange, Dubai Financial Market and the financial market of Kuwait, witnessed on Sunday trading exceeded 282 million dirhams to top the list of the most active traded, which constitutes more than third of market liquidity amounting to 768 million dirhams, in the last hour of trading on Sunday in Dubai market.

 

The share rose with 3.17% in Dubai Financial Market up to levels of Al0.847 AED with trading volumes amounted to 339.5 million dirhams spread over 2.613 thousand transactions.

In Kuwait, the share trading was at about 1.14 million Kuwaiti dinars, of about 16.7 million shares to close transactions rosen by around 2.99% to levels of 69 dinars.

The share trades scored double of the entire real estate sector, amounting to 147 million dirhams, registering a rise of about 1.22%.

The share ended with stability in the Bahrain Stock Exchange with a total trades amounted to 4.941 thousand Dinar through 22.460 thousand shares.

Paid capital for JF H was reduced in April by 60% of the shares of the bank by almost 6 shares for every 10 shares, from 1.495 billion US dollars, to 598 million $, spread over 2.256 billion shares, with a par value of 0.265 $.

The company said that this procedure was to write off the accumulated losses for the purpose of distribution of profits and therefore the number of issued shares have been reducing from 5,641,458,509 shares to 2,256,583,403 shares with a nominal value of 0.265 US $ per share.

The financial statements of GFH for the ended year in December 31, 2014, showed net profit for the group, valued at 17 million US $, during 2014, compared to a net loss of 18 million $  during the previous year.

And "Finance House" works in the development of Islamic financial institutions, infrastructure projects, projects of private shares, and asset management.

The risen hares contributed to the growth of the investment sector by about 0.9%, in addition to growth of "Dubai Investments" by 0.64%.

Three Kuwaiti stock indexes decreases down to around the middle

Kuwaiti indicators retreated in the middle of the session of Thursday, where the price drop at 10:30 am, to the level of 6343.31 points, losing about 36.23 points.

 

The weighted index of the Stock Exchange during the period decreased slightly by 0.47%, after falling to the level of 428.53 points, losing 2.04 points, as well as Kuwait 15 index lost 0.65%, or about 6.64 point, down to the level of 1031.88 points.

The volume of total trading in Kuwait Stock Exchange during the period reached almost 75.56 million shares came through the implementation of 1665 deals made trading value at about 5.28 million dinars.

The technical analyst for capital markets, Faisal Boushahri, expected for "Mubasher" that the Kuwaiti stock market is currently experiencing a speculative cautious, predicting a slight decline for indicators.

"White Cement" share topped list of the largest share gains, with growth of almost 5.45%, while the "gypsum" occupied list of declined shares, with down estimated at rate of about 8.3%.

"GFH" share topped the stock exchange trading activity with share sizes of approximately 18.99 million shares, valued at 1.28 million dinars through implementation of 155 deals, with its falling down to 2.9% to 67 fills.

The price index declined at the end of the session, on Wednesday, with rate of 0.05% to 6379.54 points. The weighted index fell 0.35% to the level of 430.57 points, and the «Kuwait 15» index declined by about 0.56% at level of 1038.52 points.

Top 10 shares on the Saudi Arabia stock market

Tadawl is the only market for stock trading in Saudi Arabia, which comes in the eleventh rank among global shares and commodity markets, and is one of the world's fastest growing markets, as the market reached to its highest level in 2006, by achieving 20.966.58 points, trading in the Saudi stock market starts weekly from Sunday to Thursday, from 11 am to 3 pm, and Saudi major companies are trading in the market in different stocks and variable prices, Saudi companies achieved high gains, we review what has been achieved at the end of the last weekly session in the following list.

Top 10 shares on the Saudi stock market:

1.
  SABIC: Saudi Basic Industries which is the largest un-oil industrial company in the Middle  East, which is one of the world's petrochemical industries, SABIC's products are classified in four types which are chemicals, polymers, fertilizers and metals, and about the contributions of SABIC in the Saudi stock market, The stock price in the last trading day reached to 107.65 SR, as the number of existing shares of the company on the market is 3,000,000 shares.

2.
  Saudi Telecom STC: Saudi company is working in the landline services, mobile and the Internet, which operates through five business sectors which include: unit of the phone which include land lines services, phone cards, general lines, prepaid cards services, business services sector, Mobile unit which provides family mobile Services "Sawa", messaging services, business services, data services and roaming, Saudi Unit Net which provides Internet services, the unity of Saudi Telecom Services to pay electronic bills online, and the unit of Saudi Dana to serve data solutions. Telecommunications Company knocked off in second place in the list of top companies in the stock as its shares' value has amounted to 70.33 riyals, and the number of shares is 2,000,000 shares.

3.
  National Commercial Bank NCB: His long history in working market and Saudi capital, with a collection of the largest currency banks in the Kingdom, which are Sal company and Abdul Aziz Kaki and Salem Bin Mahfouz company, which are the first two companies established a registe Saudi bank, and after a few years the first investment fund works in real estate financing and vehicles financing was issued. This bank is following the provisions of Islamic law in all his dealings. As for the bank's share price in the Saudi capital market, it amounts to 69.82 riyals, causing him to come in third place in the market in the last days of the week, also the nominal value per share is thousand riyals, and the number of shares is 2 million riyals.

4.
  Al Rajhi Bank:It is engaged in providing all commercial banking services in accordance with the provisions of the Islamic Sharia, which are large variety of services from investment services in asset management, investment funds, providing the needs of individuals and institutions through Al Rajhi specialized financial services, Bank Al Rajhi comes in fourth place in the Saudi stock market in the last days of the week, reaching to 66.58 riyals per share price and the number of shares is 1,625,000 shares.

5.
  Kingdom Holding: one of the largest investment companies in the world, as it has a large number of Saudi, Middle Eastern and international companies, it is an international company in hotel investments which owns hotel investment portfolio, and major stakes in specialized international companies in the hotel management, as well as of its investments in distinctive international trading companies, and it occupied the fifth place in the Saudi market trading at the end of last week, reaching 22.64 riyals per share price and the number of outstanding shares is 3,705,882 shares.

6.
  Saudi Electricity: It is responsible for the electric power generation, transmission and distribution in all cities and villages of the Kingdom of Saudi Arabia directly, or through its subsidiaries companies. The Saudi trading market closed yesterday with its occupancy of the sixth rank reaching 20.02 per share price and the number of its outstanding shares is 4,166,594 shares.

7.
  Jabal Omar: it is responsible for focused business development and reconstruction in Jebel Omar adjacent to the Square of the Grand Mosque in the west, in addition to possessing the development, investment, the sale and leasing of real estate and land in the same area, along with doing all the special construction, reconstruction, maintenance, demolition and survey work by their own , marketing sessions have been closed in the Saudi stock market yesterday as it is ranked in the seventh place, by 76.95 riyals per share price, and the number of outstanding shares is 929.400 shares.

8.
  Samba: Financial activity of the company clears in all commercial banking services, and all investment services such as asset management, investment funds, and providing of the needs for individuals and institutions from brokerage services in the local and international capital markets through specialized subsidiaries companies owned by Samba Capital group. Samba Company was ranked in the eighth place in the latest marketing sessions of the Saudi stock market, at a price of 29.88 riyals per share, and the number of outstanding shares is 2 million shares.

9.
  Sabb:  Company specializing in all Islamic commercial banking services, a subsidiary of SABB Securities Co., Ltd., which provides custody services, with the exception of underwriting, its share price stood at 36.7 riyals and list the number of its outstanding shares is 1,500,000 shares.

10.
  Almarai: famous company in production of milk products, fresh juices, and marketing them inside the Kingdom and the Gulf states, it is considered the largest dairy company in the kingdom. The session was closed at the end of last week while it is in the tenth place, with 90.25 SAR per share price, the number of its outstanding shares is 600,000 shares.

"NASDAQ Dubai" and "Kazakhstan Stock Exchange" sign Memorandum of Understanding

 NASDAQ Dubai said on Tuesday it had signed a memorandum of understanding with Kazakhstan Stock Exchange; to discuss their cooperation and exchange of information about their markets.

 

To be mentioned the two Stock Markets will work together to develop initiatives designed to open up the prospect of cooperation between the capital markets in both Dubai and Almaty; including relations between the central depositories for securities, also would discuss how to cooperate to promote their products and solutions  for Islamic capital markets.

"The statement added that a memorandum of understanding was signed in Dubai by both Hamed Ali - Chief Executive of NASDAQ Dubai, and Maksi Kabashev - CEO of the Stock Exchange of Kazakhstan, and Khiret Klembtov - Governor of the National Bank of Kazakhstan, which is the central bank in Kazakhstan.

Khiret Klembtov said: "Kazakhstan's relations with the United Arab Emirates have become increasingly important in a variety of sectors; including the economic and financial sectors, and extends to the social and cultural sectors. I think that the further cooperation between our two countries will increase cooperation between stock exchanges of Kazakhstan and Nasdaq Dubai."

Hamed Ali said "NASDAQ Dubai is looking to study a wide range of potential cooperation with Kazakhstan stock exchange projects for the benefit of the two exchanges and dealers in their markets; and because the international exchange is serving the region; we are committed to open new prospects for financial cooperation to promote cross-border economic growth and increase wealth."

Maksi Kabashev said: "Due to increase trade relations and investment flows between Kazakhstan and the United Arab Emirates, there are increased opportunities for cooperation between the two exchanges in a number of areas. We look forward to create links and new relationships to provide attractive options for investors, and facilitate the access of exporters to new sources of capital." .

The UAE is the largest trading partner of Kazakhstan between the Gulf Cooperation Council (GCC). UAE companies have significant investments in Kazakhstan; including projects in the areas of energy and real estate.