Saudi REITs surge after oversubscription

Updated 29 May 2017
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Saudi REITs surge after oversubscription

DUBAI: The Tadawul All Share Index (TASI) climbed 0.6 percent on Monday with real estate investment trusts (REITs) accounting for three of the top four percentage gainers after Saudi Fransi Capital said an offer of units in its new Taleem REIT this month was 890 percent subscribed, indicating strong demand for REITs.
Petrochemical shares were strong with Saudi Kayan gaining 1.3 percent, although small producer Nama Chemicals, which had plunged its 10 percent daily limit on Sunday, slid a further 1.6 percent.
The Dubai index added 0.7 percent. The four most active stocks were worth less than 1 dirham each, with Union Properties, the most heavily traded stock, gaining 2.4 percent.
Amusement park operator DXB Entertainments (DXBE), whose slide this year has weighed heavily on the Dubai market, edged up 0.5 percent after it said chief executive Raed Kajoor Al-Nuaimi had been appointed CEO of a new entity that will manage development projects for Dubai Holding and Meraas Holding. Al-Nuaimi will remain CEO of DXBE until a new chief is appointed, the company said without elaborating.
Loss-making builder Drake & Scull gained 1.5 percent after banking sources told Reuters about its recovery plan, including its projection that earnings before interest, taxes, depreciation and amortization will turn positive this year.
Qatar’s index edged down 0.1 percent but Qatar First Bank, the most heavily traded stock, climbed 5.8 percent. In the last several days, it has rebounded from record lows in unusually heavy trade.
In Kuwait, logistics giant Agility climbed 2.3 percent to 0.706 dinar, after a 6.2 percent surge on Sunday. The company said at the end of last week that it had agreed to pay $95 million in cash to settle a civil lawsuit accusing it of defrauding the US military on food supply contracts. The deal allows it to pursue US government contracts again.
SICO Bahrain called the resolution of the US case a major positive and upgraded the stock to a “buy” with a target price of 0.85 dinar.


What We Are Reading Today: Yale Needs Women by Anne Gardiner Perkins

Updated 21 September 2019

What We Are Reading Today: Yale Needs Women by Anne Gardiner Perkins

  • The book is a historical novel based on the first females that were accepted and lived on campus at Yale

Yale Needs Women by Anne Gardiner Perkins is a historical novel based on the first females that were accepted and lived on campus at Yale starting the summer term of 1969.

“This is an academic work although written in a very accessible style for the average reader,” said a review in goodreads.com.

It said the book “started as a graduate paper and morphed into a dissertation over time.”

The review also said Perkins “really allows readers into the lives of several of the students and one administrator in particular.”

It said the author “straddles the line nicely between fitting in the comprehensive detailed research she managed and making it interesting enough that someone mighty think it was a novel.”

Perkins grew up in Baltimore and attended Yale University, where she earned her BA in history and was the first woman editor-in-chief of the Yale Daily News. 

She has spent her life in education, from urban high school teacher to elected school committee member. 

She has presented papers on higher education at leading conferences.

Although Yale Needs Women’s principal focus is on, well, women at Yale, Perkins also weaves in a lot of events that were also happening at the time and impacted Yale life, such at the Black Panther movement and the Vietnam War.