Feb. 17--KSE ADVANCES BY 0.52 PERCENT: The Kuwait Stock Exchange (price index) closed half a percent higher at 6,610.9 points but volumes were still low since investors wait for US trading to commence today after they remained closed at President's Day on Monday. Global Investment House gained 6.5 percent after the investment bank was allowed to resume its operations in Jordan.

DSM CLOSES 2.89 PERCENT LOWER: The Doha Securities Market (DSM) was hit hard by a lacklustre tradinga and weak bank stocks. The DSm Index closed 2.89 percent lower at 5,150.07 points. Commercial Bank Qatar (CBQ) was off 9.9 percent, Qatar Islamic Bank was hit by profit taking, losing 4.65 percent. Al Khaliji Commercial Bank also retreated (3.73 percent lower). Only 5.9m shares changed hands, 2.11m less than during yesterday's session.

ABU DHABI SHARES OFF 0.35 PERCENT: Low volumes dragged the ADX General Index down 0.35 percent, closing at 2,201.18 points. Energy stocks continued to surge, gaining 1.56 percent. Dana Gas gained 1.75 percent. Finance House posted the biggest gain, advancing by 9.91 percent. Al Khazna Insurance hit the bottom by losing 10 percent of its value.

DFM GAINS A QUARTER PERCENT: In a rollercaoster trading session, the DFM at first advanced two percent higher, fell back into the red and eventually closed 0.25 percent higher at 1,492.39 points. Shares of construction company Arabtec surged 12.12 percent higher. The stock gained 47 percent during the last week. Three Islamic insurance operators were among the top gainers today: Dar Takaful (up 7.87 percent), Takaful EM (4.08 percent higher) and Islamic Arab Insurance (gaining 3.57 percent). The Takaful segment is said to grow at a pace of 25 percent p. a. which is higher than the overall Islamic Finance market with an annual growth of 15 percent. The volume of Takaful insurances is estimated to be only U$4 to 5bn.

OMAN INFLATION SLOWS TO 11.78 PERCENT: Annual inflation in Oman fell to 11.78 percent in December from 12.75 percent in November as food price pressures eased, reported Reuters. The country's consumer price index was 130 points on December 31, unchanged from a month earlier and compared with 116.3 points on the same day in 2007.

GCC CURRENCY PEG IS 'TERRIBLE MISTAKE', SAYS ROGERS: The chairman of Singapore-based Rogers Holdings said yesterday that the GCC's currency peg to the dollar is a 'terrible mistake' and will cause financial problems for the region as the US currency is expected to decline, reported BLoomberg. Jim Rogers said the six GCC states should form a joint currency as soon as possible, adding that new currency shouldn't be linked to any other as the region has enough foreign reserves and oil to back it up.

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