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Doha Securities Market up by 8.85% following government purchase decision.

Summary: Doha Securities Market The Doha Securities Market is the principal stock market of Qatar. The market was founded in 1997 and is located in the capital city of Doha. Its name is abbreviated to DSM.

The DSM's principal stock index is the DSM-20, composed of 20 major company listings, or equities.
 increased 8.85% on Monday

Sheikh sheikh
 or shaykh

Among Arabic-speaking tribes, especially Bedouin, the male head of the family, as well as of each successively larger social unit making up the tribal structure. The sheikh is generally assisted by an informal tribal council of male elders.
 Hamad Bin Jassem Bin Jabor Al Thani, the Qatari Prime Minister and Foreign Minister has declared that the government decided to purchase the investment portfolios of local banks shares listed on the Doha Securities Market (DSM 1. DSM - Data Structure Manager.

An object-oriented language by J.E. Rumbaugh and M.E. Loomis of GE, similar to C++. It is used in implementation of CAD/CAE software. DSM is written in DSM and C and produces C as output.
) and which (shares) are owned by Qatari local banks wishing to sell these shares. The purchase price is to be defined as per the cost of the portfolio registered in the banks records on February 28, 2009 minus allocations accumulated by the end of December 31, 2008.

Sheikh Hamad, in remarks carried by the Qatar news Agency and published in Qatari Newspapers today, stated that such procedures aims at supporting local Qatari banks. The decision includes the following banks:

(1) Qatar National Bank (QNB QNB Quinuclidinyl Benzilate )(2) Commercial Bank(3) Doha Bank(4) Qatar Islamic Bank(5) Qatar International Islamic Bank(6) Ahli Bank(7) Al Khalij Commercial Bank

The move has boosted trading in the local bourse bourse (brs), term applied to a European stock exchange. The first international bourse was established in Antwerp in the 16th cent. . The index closed Monday 8.85% higher compared to Sunday.

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Publication:Mena Report
Date:Mar 9, 2009
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