Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi - Capital of GCC joint stock firms reaches SR851.25bn  Join our daily free Newsletter

MENAFN - Arab News - 09/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The number of joint stock companies allowing inter-GCC share trading between GCC citizens grew by 95 percent in 2012 compared to only 20 percent in 1985, according to local media quoting GCC statistics.
Based on data released by the Riyadh-based general secretariat of the Gulf Cooperation Council, quoted by Al-Eqtiadiah daily, the number of companies rose to 644 in 2012 with their capital reaching 227 billion (SR851.25 billion).
The number of joint stock firms accessible to the GCC citizens has rated 100 percent in Saudi Arabia, Qatar and Kuwait whereas this rate reached 96 percent, 94 percent and 75 percent in Bahrain, Oman and the UAE, respectively, the report said.
Kuwait topped the list of the GCC countries of having the biggest number of joint stock companies allowing GCC citizens to trade shares by 214 companies, followed by Saudi Arabia at 158 firms, Oman (108), the UAE (79), Bahrain (43), and Qatar (42), the report said.
The number of the GCC investors in the said companies stood at 453,000 in 2012 and the UAE alone attracted 212,243 investors, or 46.9 percent of the totals, followed by Qatar at 190,886 (42.2 perct), Bahrain at 27,330, Oman, Saudi Arabia and Kuwait at 15,474, 4,988 and 1,792 investors, respectively, according to the report.

Saudi investors topped the list of GCC highest shareholders in these companies at the rate of 50.2 percent, followed by Kuwait investors at 15.9 percent, UAE and Bahraini investors at 10.7 percent for each, then came Omani and Qatari investors at 8.5 percent and 4.1 percent, respectively, the report said.
According to the report, the GCC countries have gradually eased investment limitations and curbs in their respective stock markets. The GCC Higher Council recently announced a decision whereby GCC citizens have full equal rights to own and trade shares and set up firms.
An earlier report released by the UAE Ministry of Finance said the Saudi nationals got the highest rates of licenses granted to the GCC nationals at 43.2 percent last year, followed by the Kuwaitis at the rate of 19.6 percent of the totals, the report said.
In 2012, the GCC nationals were allowed to trade shares in 80 joint stock companies, or 74.8 percent of the companies registered with the UAE Securities and Commodities Authority (SCA).


 


Arab News




  MENA News Headlines
 Oct 1 2016 - Saudi economic growth hits slowest rate in Q2MENAFN
(MENAFN) Government data showed that Saudi Arabia's economy grew at its slowest rate in more than three years between April and June.Also, growth has been weakening since early 2015 as cheap oil ...

 Oct 1 2016 - New regional deadline in Gulf States by 2021MENAFN
(MENAFN) UAE's Minister of Infrastructure confirmed that the six Gulf countries have agreed in principle to push back the completion date of a 2,100 kilometer transnational rail network stretching ...

 Oct 1 2016 - GCC mobile transactions higher by 4% in H1 of 2016MENAFN
(MENAFN) A new study showed that the shares of mobile transactions in the GCC at 43% in higher than the global average by 4%.Also the report has provided insights into consumer shopping habits and ...

 Oct 1 2016 - UAE- Mercedes' rivals contest F1 ChampionshipKhaleej Times
(MENAFN - Khaleej Times) The Petronas Malaysia Grand Prix takes place at the Sepang Circuit, Kuala Lumpur, on October 2. Responsive interactive graphic shows animated circuit map, with details ...

 Oct 1 2016 - UAE- Wrightbus International signs partnership with Al Habtoor MotorsKhaleej Times
(MENAFN - Khaleej Times) Al Habtoor Motors will become the official distributor for Wrightbus International's products in the United Arab Emirates. Wrightbus International has signed a strategic ...

 Oct 1 2016 - UAE- Free parking in Sharjah for Hijri New Year holidayKhaleej Times
(MENAFN - Khaleej Times) Sharjah Municipality has announced free pre-paid parking across the emirate on the occasion of the Hijri New Year holiday, which falls on Sunday. Attif Al Zarooni, ...

 Oct 1 2016 - UAE- Sharjah International Narrator Forum closes with great successKhaleej Times
(MENAFN - Khaleej Times) The three-day event of the 16th edition of the Sharjah International Narrators Forum (SINF), organised by Sharjah Institute for Heritage (SIH), has concluded with the ...

 Oct 1 2016 - UAE- PHOTOS: Fire guts Sharjah apartmentKhaleej Times
(MENAFN - Khaleej Times) Afire gutted an apartmentin a building at Al Wanda Streeton Thursdaynight. According to Lt. Col Sami Al Naqbi, the fire started at11 pmin apartment no 802 of Al Tawoon ...

 Oct 1 2016 - UAE- New Zealand bowlers put India on backfootKhaleej Times
(MENAFN - Khaleej Times) Former captain Ross Taylor leads the side at Eden Gardens instead. New Zealand bowlers put India on the backfoot despite fighting half-centuries from Cheteshwar ...

 Oct 1 2016 - UAE- KT Poll: Pakistan's Yasir Shah, not Ashwin, is world's best spinnerKhaleej Times
(MENAFN - Khaleej Times) Yasir Shah got 68 percent of the votes Yes, we now have got the complete result. And we are delighted to announce that Khaleej Times readers have picked Pakistan's Yasir ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help