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UAE markets recover; Qatar edges down DUBAI: Dubai's bourse recovered from a sharp drop caused by builder Arabtec on Monday morning, while stocks in Qatar edged down.The Dubai index was nearly flat by mid-session after dropping as much as 4.3 percent shortly after the opening. Arabtec was still down 9.0 percent, but property developer Deyaar rose 3.4 percent, conglomerate Dubai Investments added 2.7 percent and blue-chip lender Dubai Islamic Bank gained 2.5 percent.Shares in Arabtec, which dominates trading volumes in the emirate, have been swinging wildly on speculation that Aabar Investments, a key shareholder, may raise its 18.94 percent stake in the company.In a brief statement on Sunday, Aabar disappointed investors by saying it was considering its options towards Arabtec but declining to elaborate. This triggered a fresh slide by the stock.Arabtec said on Monday morning that its board would meet on Thursday afternoon to review its second-quarter earnings statement and other reports and recommendations, but ...

Egypt's bourse to extend trading hours from August 7 CAIRO: Egypt will lengthen trading hours on its stock exchange and reinstate pre-trading from Aug. 7, it said in a statement on Monday, as it looks to normalise activities following the turmoil of recent years.The trading session will be extended by 30 minutes to four-and-a-half hours, plus half an hour of pre-trading.Share prices will be allowed to move up or down by 10 percent in pre-trading before being suspended in addition to the 10 percent ...
Dubai set to remain volatile; politics could hurt Bahrain DUBAI: Dubai's stock market looks set to remain volatile on Monday after a sharp drop in the last session, while a setback in reconciliation talks between Bahrain's government and the opposition could weigh on that bourse. The Dubai index tumbled 6.0 percent on Sunday, wiping out most of last week's gains, after Aabar Investments, a key shareholder in construction firm Arabtec, did not confirm a report which said Aabar planned to raise its stake. The ...
Saudi stock earnings disappoint; Arabtec drags down UAE DUBAI: Saudi Arabia's bourse edged down on Sunday after several companies disappointed investors with their second-quarter results, while Dubai's Arabtec triggered a sell-off across the United Arab Emirates.Saudi Arabia's main index slid 0.6 percent in early trade, dragged down mostly by three companies that reported their quarterly earnings before the opening: Saudi Industrial Investment Group (SIIG), Dar Al Arkan and Saudi Basic Industries (SABIC).SIIG tumbled 7.2 percent after its second-quarter profit missed the estimate of ...
UAE markets recover further; earnings, dividends lift Saudi DUBAI: Blue-chip banks and property-related stocks, led by Dubai construction firm Arabtec , lifted markets in the United Arab Emirates on Sunday while earnings reports supported Saudi Arabia's bourse.Dubai's main index jumped 4.4 percent as shares in Arabtec surged their daily 15 percent limit. Among other top gainers were bourse operator Dubai Financial Market and developer Union Properties, up 12.6 and 10.5 percent respectively.Emaar Properties, the emirate's largest listed developer, added 2.0 percent and Dubai ...
Dubai rebounds; emerging stocks at one-year highs LONDON: Shares in Dubai-listed builder Arabtec surged 15 percent on Wednesday on hopes that a strategic investor will take a stake in the firm, lifting regional bourses, while broader emerging stocks hit one-year highs.Strong gains on developed markets boosted MSCI's emerging markets index by 0.8 percent, with Indian stocks posting a fresh record high and Russian markets jumping half a percent after the previous session's losses.The biggest gains were in the Gulf, however, with the ...
Dubai stocks rebound on Arabtec assurances DUBAI: Dubai share prices rebounded strongly Wednesday following a massive slide after leading construction firm Arabtec denied reports it was planning to delist and assured investors over its finances.The Dubai Financial Market (DFM) Index jumped 6.1 percent to close at 4,253 points a day after shedding 6.7 percent on troubles facing Arabtec coupled with a deeper than expected correction, traders said.Arabtec led the recovery as the most actively traded shares on the DFM, which has ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln