The delicate truce held through its seventh day after a 24-hour extension despite a shooting claimed by Hamas that killed three people in Jerusalem
Lars Hamich, managing director of STOXX Ltd., the joint venture that is responsible for Dow Jones Indexes business development in Europe, Asia and the Middle East, said: "For the first time, a single index covers the entire Arab region. Designed to underlie investment products such as funds, exchange-traded funds, structured products and derivatives, the Dow Jones DIFC Arabia Titans 50 Index provides a transparent index methodology consistent with the global Dow Jones Index family. The index methodology mimics that of the already-established Dow Jones Titans family, which will help measure these growing markets.
"Attracting global investors is a key objective of the DIFC and the Dubai International Financial Exchange,' said Naser Nabulsi, chief executive officer of DIFC. "The Dow Jones DIFC Arabia Titans 50 will contribute greatly to the development of the region's exchanges, such as the Dubai International Financial Exchange, by generating substantial interest from global investors." "I am delighted that DIFC has partnered with Dow Jones Indexes in establishing the first credible regionwide index. The DIFC will be the world's next great financial centre, and partnering with Dow Jones Indexes in the creation of Dow Jones DIFC Arabia Titans 50 confirms our position as the recognised centre for financial services in the Middle East."
The investable index is based on the stock prices of 50 leading companies in the region. The weighting of each component is determined using 60 per cent market capitalisation, 20 per cent net income and 20 per cent revenue. The index has a return of 70.76 per cent since Dec. 31, 2000. The base value of the Dow Jones DIFC Arabia Titans 50 is 100 at Dec. 31, 2000. The full list of components including weightings and values of the Dow Jones DIFC Arabia Titans 50 is available on www.djindexes.com. The Dow Jones DIFC Arabia Titans 50 is part of the Dow Jones Titans series of indexes.
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