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DGCX volumes surge 24% in May
June 5, 2014--May trading volumes on the Dubai Gold and Commodities Exchange (DGCX) recorded a robust growth of 24% from previous month, aggregating 1,017,991 contracts, valued at $31.5bn.
The currency segment was the key driver of volume growth, trading 923,491 contracts to record a month-on-month increase of 22%. Among the currency pairs, Indian Rupee Futures grew...
Abu Dhabi economy grew 5.2% in 2013
June 4, 2014--According to figures from Abu Dhabi's Statistics Centre Abu Dhabi (SCAD), the emirate's economy expanded an inflation-adjusted 5.2% in 2013, a much slower rate than the government had previously estimated but still higher than 4.8% in the previous, Reuters has reported.
This was much lower than an estimate in February by the emirate's Department of ...
Emirates NBD comments lift Saudi bourse
June 4, 2014--The Riyadh-based Saudi Arabian Tadawul All-Share Index advanced by 0.62 per cent to close at 9,838.86 points on Wednesday, June 4.
Arjuna Mahendran, chief investment officer at Emirates NBD in Dubai, says: "We are positive on the Saudi Arabian equity benchmark-Tadawul All Share Tasi Index-which has reasonably valued stocks, with high ...
Aldar gains as developer retires $1.25 billion bond
June 4, 2014--In Abu Dhabi, the local stock market index (ADXGI) fell by 0.90 per cent to 5,018.96 points on Wednesday, June 4.
Insurance firm Watania dived seven per cent to reach AED0.93. Aldar Properties gained 0.70 per cent, finishing at AED4.30. Earlier in the day, the first developer in Abu Dhabi revealed that it repaid a...
Dubai market dips, COO announces short-selling to come
June 4, 2014--The Dubai Financial Market General Index (DFMGI) declined for the second day straight on Wednesday, June 4, ending off by 1.07 per cent to 5,018.78 points.
Hassan Al-Serkal, the DFM's executive vice-president and chief operating officer, says the exchange will take the necessary steps to keep investors’ interests high to retain recently achieved status upgrade...
Qatar market declines slightly
June 4, 2014--The QE 20 Index fell for the third consecutive session on Wednesday, June 4, ending down by 0.60 per cent to 13,142.69 points.
Qatar Fuel gained the most, closing 5.43 per cent higher at QAR221.40. Barwa Real Estate lost 0.50 per cent to hit QAR41.80. In a filing to the market, Barwa revealed, on the...
Cityscape sales don't help Barwa share prices
June 4, 2014--Cityscape sales don't help Barwa share prices The QE 20 Index lost for the second day straight on Tuesday, June 3, falling by 2.43 per cent to close at 13,221.29 points.
Barwa Real Estate declined by 1.06 per cent at QAR42. On Monday, Barwa said it launched at its participation at the Cityscape Qatar 2014...
Abu Dhabi developers drag down market index
June 4, 2014--The Abu Dhabi securities market index ADXGI lost 1.36 per cent to 5,063.96 points on Tuesday, June 3.
Al Khazna Insurance Company surged 14.50 per cent to hit AED0.79. The three top developers Aldar, Eshraq Properties and RAK Properties declined by 2.95 per cent, 0.65 per cent and 0.83 per cent, respectively. Approximately 553 million...
Egypt: Egx Gains Egp 16.1 Billion, Main Index Up By 4.7 Percent
June 4, 2014--June 6, 2014--The Egyptian Stock Exchange (EGX) achieved gains worth EGP 16.1 billion at closing on Thursday, backed by intensive purchases by investors and foreign funds.
Market capitalization recorded EGP 486.5 billion.
The bourse main index EGX 30 jumped by 4.7%, recording 8,498.65 points.
Gulf Economies Should Diversify to Sustain Strong Future Growth
June 3, 2014--Oil-based growth model in the Gulf led to rapid development, but with cost
Diversification is needed to reduce reliance on oil, support growth and jobs
International experience shows education, competition, incentives are crucial
Economic diversification is vital if the countries of the Gulf Cooperation Council (GCC)-Bahrain, Kuwait, Oman, Qatar, Saudi Arabia,and United Arab Emirates-are to sustain strong growth in the future, a regional conference heard.
