GulfBase GCC Cap Indices
IndexLevelChg%
Large Cap3,699 0.58
Med Cap3,770 0.82
Small Cap4,975 0.36
Micro Cap7,760 1.33

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Ticker Price Volume
EEC 22.73 515,786
GFH 0.26 56,595
CHEMANOL 6.49 676,987
QNBK 169.5 339,136
UPP 0.75 15,151,439
JARIR 106.81 67,228
SABIC 83.37 4,683,848

Forex News


Gulf sticking to FX peg 'due to poor research'


The Gulf's oil-exporting states are reluctant to consider abandoning their currency pegs partly because their central banks' research capabilities are not strong enough to analyse the change, Newsweek quoted a Gulf central banker as saying. The

India’s rupee falls on report Rajan doesn’t want a second term


India’s rupee reversed gains and bonds declined after a local-language newspaper reported that central bank Governor Raghuram Rajan doesn’t want an extension of his term, though Prime Minister Narendra Modi wants him to stay on. Rajan has told the

Turkey plans dollar-denominated sovereign sukuk


Turkey plans to launch a dollar-denominated sukuk to plug its budget deficit, sources said on Tuesday, joining the sovereign issuers in the Gulf ahead of an expected interest rate hike by the United States. The details on the size, pricing and tenor

12% fall in remittances as SR11.9bn flew out in April


Foreign remittances fell by 8.3 percent to SR11.9 billion in April, compared to SR13 billion in April last year, the lowest level recorded since 2014. Reports indicated remittances declined on an annual basis in April 2016 by 12 percent, or about SR1.6

Ramadan and holiday to boost Saudi forex market


The currency exchange market is expecting an increase in its activities by at least 15% percent, thanks to the Umrah season, the expansion in Makkah and school holiday, noted traders in the field. “Less Saudis are traveling now, but we expect them to

Yuan bears once compared to Soros now look subdued


The last time the yuan fell as much as it has in recent weeks, bets against the Chinese currency were so intense that Bill Gross likened them to George Soros’s infamous attack on the British pound in 1992. Now, less than five months after the yuan’s last

UAE remittances to Egypt hit $1.83bn in 2015


Egypt received an estimated $19.7 billion in remittances from the world over in 2015, of which $1.83 billion came from the UAE, according to remittance data of World Bank. Meanwhile, Jordan received $3.8 billion from countries across the globe, with the

Money supply increases to Dhs493.4b in April


The UAE Central Bank has announced that the Money Supply Aggregate M1 increased by 0.6% from Dhs490.3 billion at the end of March 2016 to Dhs493.4 billion at the end of April 2016. Money Supply Aggregate M2 decreased by 1.3%, from at Dhs1,218.4 billion

Currency tranquillity is calm before storm as risks taunt traders


It’s all quiet in currency markets, a little too quiet for some traders who warn that an uptick in volatility is just around the corner. Price swings in global exchange rates slid to the lowest since January last week, according to a JPMorgan Chase &

Yen to slide 13% against dollar by this time next year, warns Goldman


Goldman Sachs Group is keeping faith with Bank of Japan (BoJ) Governor Haruhiko Kuroda’s ability to influence markets, predicting the yen will slide 13% against the dollar by this time next year. “We are very bearish the yen,” analysts led by New

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