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 percent), 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 7 2015 - Major Omani firms set to log net earnings drop in 9MMENAFN
(MENAFN) Major Omani firms are predicted to post a drop in their net earnings, however, revenues will grow slightly for the first three quarter of this year compared to a year earlier.Net earnings of ...

 Oct 7 2015 - Four Emirati servicemen killed in suicide bombings in YemenThe Arabian Post
(MENAFN - The Arabian Post) The four Emirati soldiers killed in Yemen on Tuesday have been brought home to full ceremony.The General Command of the Armed Forces announced that the soldiers died in ...

 Oct 7 2015 - International aid to Syrians 'utterly inadequate': OxfamJordan News Agency
(MENAFN - Jordan News Agency) Global efforts to help Syrians both inside and outside their war-torn country have proved "utterly inadequate", international aid group Oxfam Wednesday said in a newly ...

 Oct 7 2015 - Israeli forces arrest 40 Palestinians in West BankJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation forces on Wednesday arrested 40 Palestinians from various parts of the occupied West Bank including Jerusalem, according to a statement by the ...

 Oct 7 2015 - Jeddah's hotel revenues report weak results in AugustMENAFN
(MENAFN) Four and five star hotels in Dubai reported weakening performance levels in August, with revenue per available room (RevPAR) declining 10.1 percent to USD147.45 for the month. Due to a ...

 Oct 7 2015 - Jewish settlers storm Al Aqsa MosqueJordan News Agency
(MENAFN - Jordan News Agency) Groups of Jewish settlers continued to storm Al Aqsa Mosque on Wednesday via Bab Al Magharbeh Gate under the protection of Israeli army and police.The Islamic Awqaf ...

 Oct 7 2015 - Canada rejects assaulting Muslim women wearing niqabJordan News Agency
(MENAFN - Jordan News Agency) Canada's Prime Minister Stephen Harper Wednesday stressed that his government rejected the latest attacks on Muslim women in Canada because of wearing the niqab.The ...

 Oct 7 2015 - Two Palestinians injured by Israeli forces in BethlehemJordan News Agency
(MENAFN - Jordan News Agency) A Palestinian young man on Wednesday, was injured during violent clashes with Israeli occupation forces and settlers east of the West Bank city of Bethlehem.The ...

 Oct 7 2015 - MWL Secretary General Meets Sudanese Minister of Guidance and EndowmentsQatar News Agency
(MENAFN - Qatar News Agency) Secretary General of the Muslim World League (MWL) Dr. Abdullah bin Abdulmohsen Al-Turki met here today with Sudan's Minister of Guidance and Endowments, Al-Fatih Taj ...

 Oct 7 2015 - Tunisian President Meets Members of Arab Parliament BureauQatar News Agency
(MENAFN - Qatar News Agency) Tunisian president Beji Caid Essebsi met here today with members of Arab Parliament Bureau, who are visiting Tunisia to take part in the fourth session of the Arab ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


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