business / Finance
MSCI to remove Saudi shares from dataGlobal equity index provider MSCI will no longer list Saudi stocks in its data after refusing to comply with a demand by the country's bourse for final approval over what stocks are included in its indexes, The National has reported. The Tadawul had set a Monday midnight deadline in demanding veto rights over the composition of certain indexes compiled by MSCI. MSCI said it could not agree to the demands of Tadawul, which included the right to veto certain product licences that are sold to third parties to create instruments such as exchange-traded funds. <BR> <BR> <BR> [AMEInfo.com]
AME Wednesday, September 02, 2009Unicorn Capital Saudi Arabia to commence operationsUnicorn Capital Saudi Arabia, majority owned by Bahrain-based Unicorn Investment Bank, has announced it has received approval from Saudi Arabia's Capital Market Authority to commence operations in the kingdom. Unicorn Capital Saudi Arabia will provide the Saudi market with a range of Islamic investment products and services, with the support of Unicorn Investment Bank. [AMEInfo.com]
AME Wednesday, September 02, 2009Boulder Steel tops at Nasdaq DubaiShares of Australia's Boulder Steel posted the largest gain at the Nasdaq Dubai today, closing 5.63% higher at $0.15. Damas followed by advancing 4.10% (ending at$0.305). DP World plummeted 6.36%, closing at $0.412 after gaining over 25% during the last six days of trading. Depa shares were traded but remained flat at $0.63. [AMEInfo.com]
AME Wednesday, September 02, 2009KSA: Sabic shares stabiliseThe Riyadh-based Tadawul market started weakly and closed 0.29% lower (at 5,617.31 points) despite a sharp advance during the last hour of trading. Shares of bellwether Sabic finished at SR68.75 (gaining 0.36%). Many insurance firms extended their losses from the previous days due to profit bookings. Saudi Arabian Mining Co. (Ma'aden) posted the largest profit, advancing by 2.73% to SR15.05. The Tasi index lost 2.12% during the week. On Thursday and Friday the Riyadh Stock Exchange is closed. [AMEInfo.com]
AME Wednesday, September 02, 2009Bank Boubyan shares gain 3.8%The Kuwait Stock Market (KSE) continued its decline by closing 0.72% lower at 7,816.9 points (Price Index). All sectors posted losses. Sharia-compliant Bank Boubyan, which owns a fifth of London-based Bank of London and the Middle East (BLME), advanced against the negative momentum and closed at KD0.540 (up 3.84%). [AMEInfo.com]
AME Wednesday, September 02, 2009Intrepid Traders Try To Turn Potash Into ProfitsThere is a swell of bullishness in the options pits for Intrepid Potash shares, and some nervous bulls maneuvering for weakness in Oracle.
Forbes Wednesday, September 02, 2009Joy Global Profit Jumps, Shares Still SlideProfits and outlook are both up at Joy Global, while Walgreen's numbers disappoint, but shares hold last week's gains.
Forbes Wednesday, September 02, 2009Did You Inherit An IRA? Pay Your BillsCourt limits heirs' protection from creditors.
Forbes Wednesday, September 02, 2009Stable Value Funds Could Carry Considerable RiskIn today?s unpredictable market environment, even the ?safest? investments such as stable value funds carry considerable risks for plan sponsors and participants.
Watson Wyatt Wednesday, September 02, 2009Companies Should Rethink Risk-Taking Strategies in Executive PayMany elements of corporate executive pay programs believed to cause excessive risk taking actually encourage executives to reduce risk, according to experts at Watson Wyatt.
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