Arab Today, arab today dubai gold securities\ trade up 230
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

Dubai Gold Securities\' trade up 230%

Arab Today, arab today

Arab Today, arab today Dubai Gold Securities\' trade up 230%

Dubai - Arabstoday

Trading of Dubai Gold Securities (DGS) on Nasdaq Dubai rose to 6,075 securities in August, a 230 per cent increase from 1,840 in July, and up from 636 traded in the whole of the first half of the year, Nasdaq Dubai said in a statement. The total value of DGS traded reached $1.44 million (Dh5.28 million) in the first eight months of 2011, up 66 per cent from $866,000 in the same period of 2010. In equities trading, individual investors accounted for 6.6 per cent of the traded value of all shares traded on Nasdaq Dubai in the first eight months of 2011. Total equities traded value in the period by individual and institutional investors was $511 million. In August 2011, individual investors accounted for 3 per cent total equities traded value on Nasdaq Dubai, the same percentage as in the previous month. Total equities traded value on the exchange in August 2011 was $73.2 million, up 174 per cent from $26.7 million in July 2011 and down 7 per cent from $78.7 million in August 2010. The FTSE Nasdaq Dubai UAE 20 index ended August at 1,550, down 4 per cent from the end of July and down 14 per cent from the end of 2010. Saudi Telecom Saudi Telecom, Saudi Arabia\'s largest telephone company by market value, was rated \"buy\" with a price estimate of 47.7 riyals at Rasmala Investment Bank Ltd. \"Further key acquisitions or an increase in minority stakes at reasonable prices would be a strong catalyst for Saudi Telecom because the company continues to express its interest in growing inorganically as part of its overall growth strategy,\" Dubai-based Senior Analyst Shrouk Diab wrote in a note to clients yesterday. The shares were unchanged at 34.1 riyals in Riyadh on Sunday. Mashreq MoU Mashreq signed a Memorandum of Understanding (MoU) with the Export-Import Bank of Korea (Korea Eximbank). Under the agreement, Mashreq will facilitate various investments and comprehensive banking solutions for projects implemented by Korea Eximbank in the UAE and the Middle East region. The MoU will offer a strategic platform for further cooperation with Korea Eximbank and will encourage Korean companies considering business expansion in the Gulf. This is also a reflection of Mashreq\'s strategy to collaborate with institutions and assist international companies expand their businesses in the UAE and vice-versa. The MoU was signed by John Iossifidis, Head of International Banking Group of Mashreq and Ki Sub-nam, Executive Director of Korea Eximbank during a ceremony that was attended by the staff of both banks. CMA to impose fines Saudi Arabia\'s Capital Market Authority, or CMA, said it has decided to impose fines with a combined value of 200,000 Saudi riyals (Dh195,773) on four local listed companies for breaking various CMA regulations. Each of the companies was fined 50,000 riyals, the regulator said in separate statements posted on the Saudi bourse website on Sunday. The companies are National Gas and Industrialisation Company, ACE Arabia Cooperative Insurance, Saudi Cable Company, and Red Sea Housing Services. Saudi Electricity State-controlled Saudi Electricity Company (SEC) will sign a 10.7 billion riyal ($2,85 billion) power deal with a consortium that includes South Korea\'s Samsung for construction of the Qurayyah plant, it said yesterday. Saudi Stock Exchange Saudi Arabia\'s stock exchange said Sunday it will be closed on Saturday for the National Day holiday in the kingdom. Trading will resume on Sunday, it said in a statement on its website. Kuwait Cement Kuwait Cement Company said yesterday it has signed a $500 million long-term contract with Ras Al Khaimah Rock Company to import limestone — the raw material used in cement production.  

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