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Property stocks lift UAE markets, Emaar surges again DUBAI: Property firms, led by Dubai's Emaar Properties which said on Sunday that it would float its malls unit in September, lifted stock markets in the United Arab Emirates in early trade on Monday. Shares in Emaar, the biggest listed developer in Dubai, surged 6.7 percent on strong volume and dominated trading in the emirate. Dubai's main index rose 1.9 percent. The initial public offer of Emaar's malls and retail unit will be one of the largest equity sales in the Middle East since 2008, underlining Dubai's recovery from a credit crisis that forced many state-linked developers to stall projects. The firm had initially revealed in March its intention to sell up to 25 percent of the unit in an offer likely to raise 8 to 9 billion dirhams ($2.18-$2.45 billion).It will use proceeds from the sale to pay a special dividend to its shareholders. Smaller developer Deyaar added 1.6 ...

Dubai's Emaar may rise further, most markets bullish DUBAI: Emaar Properties, Dubai's largest listed developer, may rise further on Monday after surging in the last session on news that the company will float its malls unit in September, while other regional markets also look positive. The stock jumped 8.8 percent to 11.15 dirhams on Sunday, its highest close since March 2008, rising above resistance at 11.10 dirhams, its May peak. A higher close on Monday would confirm a break of this resistance and ...
UAE, Qatar rebound, Emaar surges on malls unit IPO plan DUBAI: Bourses in the United Arab Emirates and Qatar rebounded in early trade on Sunday and Dubai developer Emaar Properties surged after the firm said it would launch an initial public offer for its malls unit next month.Stock markets in both countries dipped in the last session as passive funds tracking MSCI's frontier market index liquidated part of their holdings in UAE and Qatari stocks.MSCI upgraded the UAE and Qatar from frontier to emerging market ...
Foreign selling weighs on Qatar, UAE markets DUBAI: Qatar's bourse dropped sharply on Thursday as selling by retail investors and frontier market funds more than offset inflows related to the country's increased weighting in MSCI's emerging market index.The Doha index fell 3.1 percent, its biggest daily decline since February 2011. Mobile phone operators were hit hardest: shares in both Ooredoo and Vodafone Qatar tumbled their daily 10 percent limits.Islamic lenders Masraf Al Rayan and Qatar Islamic Bank dropped 7.8 and 4.4 percent ...
Kenyan shares eke out meagre gains, shilling stable NAIROBI: Kenyan shares nudged slightly higher on Thursday driven largely by Centum Investment and Kenya Power, while the shilling was steady for a second day.The benchmark NSE-20 share index added 0.3 percent to close at 5,089.16 points, staying close to seven-month highs reached at the start of this month.Shares in the investment and power companies helped to keep the bourse in positive territory and were largely taken up by foreign investors."The two shares did well, ...
Most markets dip on profit-taking DUBAI: Stock markets in the United Arab Emirates, Qatar and Egypt edged down in early trade on Thursday as investors booked profits after strong gains this week.Dubai's bourse fell 1.0 percent with most stocks in the red. Builder Arabtec, which dominated trading, dropped 2.3 percent to 4.68 dirhams, even though its biggest shareholder and former chief executive Hasan Ismaik said on Wednesday the stock was worth over 5 dirhams. Investors may have been disappointed by ...
Arabtec, DP World may buoy Dubai markets DUBAI: Dubai builder Arabtec looks likely to support the emirate's bourse on Thursday after the company's biggest shareholder said he was in talks to sell part of his stake at a price higher than the current market valuation. Hasan Ismaik, who abruptly resigned as Arabtec's chief executive in June, told Reuters on Wednesday he was in talks with Abu Dhabi state fund Aabar to sell part of his 27.90 percent stake and wanted over 5 ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln