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Dubai market rebounds despite bad US data as technical error halts trading
February 4, 2014--manufacturing data-which expanded in January at the weakest pace in eight months-and subsequent plummeting Asian markets.
However, the market managed the turnaround and ended in the green, closing 1.04 per cent higher at 3,812.15 points. Several attempts by AMEinfo.com to call the DFM or any DFM broker failed,
Ma'aden banks on SAMAPCO
February 3, 2014--The Tadawul All Share Index lost 0.32 per cent to 8,806.92 points on Sunday, February 3.
Saudi Arabian Mining Company (Ma’aden) gained 1.31 per cent to SAR31. Earlier in the day, Ma’aden said further to its announcement on August 4, 2013, related to the operation and production of Sahara Petrochemical Company (down by 1.40 per...
Resilient Dubai market shrugs off global woes
February 3, 2014--Those on the Dubai Financial Market (DFM) trading floor cheered at 12.45am local time when the DFM General Index turned into the green after a sluggish start into Monday,
Despite index losses in Japan (the Nikkei hit a 2.5-month low earlier in the day) and in Germany, the DFMGI closed 0.49 per...
Fickle oil prices weigh on Kuwait Stock Exchange
February 3, 2014--The KSE Market Index lost 0.30 per cent to 7,786.72 points in Monday, February 3.
Oil prices (US crude) traded 0.75 per cent lower at approximately $97.50 per barrel, weighing on the sentiment. Kuwait, which produces more crude oil per day than Algeria and Indonesia together, sources 95 per cent of its federal budget from...
QNB slips as shareholders give nod for 70 per cent cash dividend
February 3, 2014--The Qatar Exchange 20 Index finished off by 0.33 per cent at 11,137.59 points (a two-week low) on Monday, February 3.
Qatar National Bank (QNB) closed 2.50 per cent lower to QAR179.90. Earlier in the day, QNB said shareholders approved the proposal of the board of directors to distribute to shareholders a cash dividend at ...
Aldar's Yas Mall announcement fails to lift Abu Dhabi market
February 3, 2014--The Abu Dhabi market index ADXGI declined by 0.31 per cent, closing at 4,678.38 points on Monday, February 3. Market bellwether Etisalat, slipped by 0.42 per cent to AED11.65.
Earlier in the day, Aldar announced that Yas Mall's opening will coincide with the final race of the 2014 Formula One World Championship. “The race puts..
UAE and Qatar set for a new challenge after MSCI markets upgrade
January 30, 2014--When it kicks in operationally in May, the upgrade of the stock exchanges of the UAE and Qatar to emerging market status will mark a long-awaited milestone for both nations- exposing them to billions of dollars of assets under management from across the world.
But it will also be a milestone for the listings body MSCI. This country and Qatar are the first markets to be upgraded from frontier to emerging since the former status was established in 2007. In this way, the Dubai Financial Market (DFM), Abu Dhabi Stock Exchange and Doha Securities Market are trailblazers.
Weakening Dubai developers weigh on market index
January 30, 2014--The Dubai Financial Market General Index closed 0.60 per cent lower to 3,770.38 points amid low trading turnover on Thursday, January 30.
Market bellwether Emaar Properties ended down by 1.23 per cent to AED8 Earlier in the week, Emaar confirmed that its CEO had been exchanged, but only days after media reports hinted at a..
FGB jumps as lender joins bank earnings rally
January 30, 2014--The Abu Dhabi market index ADXGI surged by 0.90 per cent, closing at 4,702.67 points on Thursday, January 30.
First Gulf Bank (FGB), the UAE's third lender by market value, posted the biggest advance, edging up by 5.67 per cent to reach AED20.50. In 2013, FGB recorded a 15 per cent increase in net profits..
Vodafone Qatar reduces net loss on Q3
January 30, 2014--The Qatar Exchange 20 Index lost 0.78 per cent to 11,155.73 points on Thursday, January 30.
Vodafone Qatar declined by 0.26 per cent to QAR11.42. Earlier in the day, Vodafone revealed its Q3 results (the firm's current fiscal year goes from April 1, 2013, to March 31, 2014). The Q3 financial results revealed a net..
