Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

London investors turn attention to Palestine

2014-01-21

London-UK, Leaders of Palestine’s capital market, investment & export community concluded the Palestine Capital Markets Day in strength, highlighting Palestine as ‘the investment opportunity for 2014’. Led by national export body, Palestine Trade Centre (PalTrade) and the Palestine Exchange (PEX), the delegation told influential institutional investors and senior analysts in London that 2014 could be a ‘threshold year’ for Palestine’s growing economy and a robust capital market. Palestine has been one of the fastest growing economies in the MENA region over the past five years, achieving GDP growth averaging 8.4 per cent. Mr. Ahmad Aweidah, CEO, the Palestine Exchange described 2014 as a ‘threshold year’ for Palestine’s economy. Speaking at the press conference at London’s Grosvenor House Hotel on 17 January, he described a series of critical factors that could significantly boost Palestine’s economy. “We are now achieving a series of important economic breakthroughs that could see our growth accelerate even more strongly. “Last week our delegation held over 30 meetings with London-based international investment funds and many influential analysts. There is a clear recognition that Palestine is on the threshold of strong growth. This is the third London Road show that we have held. Each time we meet London Institutional investors and analysts there is a greater understanding of the opportunities presented by Palestine. There is increasing appreciation of the potential presented by our financial services and banking sectors, ICT, infrastructure and high value agricultural sectors. Tourism is also beginning to make strong progress with attractions including Bethlehem, the Dead Sea and Jericho. “The announcement by S&P Dow Jones in December 2013 that it has added coverage of Palestine to its suite of frontier market indices is a critical step forward,” Mr. Aweidah said. The Palestine Index is currently a standalone country Index, but it will remain on the S&P Dow Jones Indices watch-list for potential future inclusion in the S&P Frontier BMI and Dow Jones Total Stock Market. MSCI also announced in June 2013 that it created a Stand Alone Country Index for Palestine for potential inclusion in its MSCI Frontier Index. Mr. Aweidah reported that: “The FTSE Indices have also informed the PEX that in 2014, the FTSE will be reviewing the eligibility of including Palestine as a Frontier market within the FTSE Country Classification Scheme.”  Mr. Aweidah added: “It is anticipated that the Palestine Capital Market Authority (PCMA) will be given a full membership of IOSCO in February 2014, reinforcing confidence in the efficiency and safety of transactions in Palestine. “The robustness and transparency of regulation has been a defining characteristic for the PEX over the past 17 years. IOSCO recognition of the PCMA will further strengthen thrust, which is so important to the continuing growth of our Exchange.” The high powered delegation also included CEOs and senior managers of leading Palestinian financial institutions and listed companies, including the Palestine Capital Market Authority (PCMA), the Palestine Investment Fund (PIF), PALTEL Group, Bank of Palestine, PADICO Holding, Sahem Trading and Investment and Lotus for Financial Investment.  The Road-show speaker line-up included Mr. Ammar Aker, CEO, of integrated telecom group, PALTEL Group. He outlined how his company has a market capitalization of $1US billion and revenue in 2012 of $US 516.01m.  Mr. Aker reported how his company’s dividend yield (8.7 per cent in 2012) is the highest achieved by an ICT company in the Middle East.  “I believe there are many excellent entrepreneurs in Palestine, leading highly professional businesses that have been growing steadily for many years. I am sure that they will continue to achieve strong, reliable growth and that if there can be a political settlement, there will be an economic boom in Palestine.”  John Davies, Vice President, Global Exchange Traded Products at S&P Dow Jones Indices said: “The fact that we have built the Palestine Index is an important statement. We don’t build indices simply because we feel they are needed. We build them because our clients are asking for them. The establishment of the new Index is evidence that there is significant demand for investment in Palestine.”  Mr. Davies stated that the stand alone BMI index achieved a 41 percent cumulative returns since inception a year ago which compares favorably with the Pan-Arab composition Index at about 24.5 percent and the S&P500 Composition Index at about 30.2 percent.

 


 

2017-05-25
Dividends yield reports 5.8% in the PEX

2017-05-18
PADICO is higher than its equivalent price and the PMA is planning to issue digital currency

2017-05-16
PADICO approves distributing 5% cash dividends for the year 2016

2017-05-11
The PEX records an average PE of 11.1x in Q1 2017

2017-05-10
Manaseer Cement & Mining Company signs a partnership agreement with Sanad Construction Industries Company

2017-05-09
QUDS approves distributing 12% stocks dividends for the year 2016

2017-05-07
RSR approves distributing 7% cash dividends for the year 2016

2017-05-07
AZIZA approves distributing 18% cash dividends for the year 2016

2017-05-07
PIIC approves distributing 6% cash dividends for the year 2016

2017-05-04
Al-Quds Index increases with the end of the quarterly financial data disclosures’ season

2017-05-03
PIBC approves raising its paid-up capital to $61 million

2017-05-02
RSR reports net income of JD0.094 million in Q1 2017

2017-05-02
WASSEL posts net income of $0.14 million in Q1 2017

2017-05-02
PADICO reports net income of $4.71 million in Q1 2017

2017-05-02
AHC realizes net loss of JD0.53 million in Q1 2017

2017-05-02
ISBK posts net income of $3.04 million in Q1 2017

2017-05-02
BOP reports net income of $12.35 million in Q1 2017

2017-05-02
PID realizes net loss of JD0.01 million in Q1 2017

2017-05-02
BPC records net income of $2.92 million in Q1 2017

2017-05-02
PICO reports net income of $1.00 million in Q1 2017

2017-05-02
MIC posts net income of $0.31 million in Q1 2017

2017-05-02
JCC realizes net loss of JD0.06 million in Q1 2017

2017-05-02
JPH records net income of $1.60 million in Q1 2017

2017-05-02
GMC posts net income of JD0.25 million in Q1 2017

2017-05-02
NSC records net income of JD0.05 million in Q1 2017

2017-05-02
NCI records net income of $0.06 million in Q1 2017

2017-05-02
PRICO realizes net loss of JD0.13 million in Q1 2017

2017-05-02
ABRAJ records net income $0.08 million in Q1 2017

2017-05-02
ELECTRODE reports net income of JD0.01 million in Q1 2017

2017-05-02
PIIC records net income of JD1.70 million in Q1 2017

2017-05-02
LADAEN realizes net loss of JD 0.03 million in Q1 2017

2017-05-02
AZIZA posts net income of JD1.33 million in Q1 2017

2017-05-02
PALTEL records net income of JD18.04 million in Q1 2017

2017-05-02
AQARIYA posts net income of JD0.24 million in Q1 2017

2017-05-02
GUI reports income of $0.87 million in Q1 2017

2017-05-02
NIC posts net income of $1.54 million in Q1 2017

2017-05-02
TRUST reports net income of $1.74 million in Q1 2017

2017-05-02
TIC records net income of $0.82 million in Q1 2017

2017-05-02
QUDS posts net income of $3.94 million in Q1 2017

2017-05-02
ARAB records net income of JD0.029 million in Q1 2017

2017-05-02
PIBC posts net income of $0.98 million in Q1 2017

2017-05-02
PALAQAR reports net income of JD0.025 million in Q1 2017

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013