« China Photo of the Day: 黄山之一(Mount Huang) | Main | Quote of the Day for Friday, December 30, 2005 »
December 29, 2005
Arab Equity Indices the World's Best Performing in 2005
From Bloomberg:
Eight out of the 10 best-performing stock indexes tracked by Bloomberg News are Arab benchmarks this year, led by Egypt's CASE 30 Index. Most reached records this year. . . .
"Oil and government economic reform in the Middle East is triggering the boom," said Haissam Arabi, head of asset management at Shuaa Capital, which oversees $2.2 billion in United Arab Emirates, Dubai.
The CASE Index has surged 152 percent this year in dollar terms, while the Dubai Financial Market Index has climbed 130 percent. Benchmarks in Saudi Arabia and Jordan have roughly doubled.
The total market value of stocks in Tunisia, the United Arab Emirates, Jordan, Lebanon, Qatar, Kuwait, Oman, the Palestinian Authority, Egypt, Saudi Arabia, Bahrain and Morocco has more than doubled this year to $1.3 trillion, according to data compiled by Bloomberg and statistics from the Palestinian stock exchange.
Trackback Pings
TrackBack URL for this entry:
http://www.heritagetidbits.com/cgi-bin/mt/mtb.cgi/1000
Comments
Post a comment
Thanks for signing in, . Now you can comment. (sign out)
(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)