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Emaar lifts Dubai after launching malls unit IPO DUBAI: Dubai developer Emaar Properties lifted the emirate's bourse on Sunday after announcing the price range for the initial public offer of its shopping malls unit, while profit-taking in Egypt continued despite positive economic news.The Dubai index rose 0.6 percent as Emaar, the largest listed developer in the emirate, added 2.3 percent. The benchmark fell 3.1 percent last week as investors cashed out to prepare for the IPO of Emaar's subsidiary.Emaar said on Sunday, as subscriptions opened, that it expected to sell 2 billion shares in Emaar Malls Group (EMG), representing 15.4 percent of the unit's shares, in a price range of 2.50 to 2.90 dirhams per share, putting the offer's total value at up to 5.8 billion dirhams ($1.58 billion).The share sale will end on Sept. 24 for retail investors and on Sept. 26 for institutional investors; Emaar has said it aims to allocate at least 60 percent of ...

South Africa stocks lower, but Steinhoff shines JOHANNESBURG: South African stocks inched lower on Thursday, as a solid performance by furniture retailer Steinhoff International was offset by a sharp fall in Vodacom after Credit Suisse cut its rating on the mobile operator.Steinhoff rose 2.2 percent to 53.80 rand, helped by news that three of its directors - including one of South Africa's best known businessmen, retailing tycoon Christo Wiese - had increased their stakes in the company."When directors are dealing like that, ...
UAE markets rebound; Saudi, Egypt pull back DUBAI: Stock markets in the United Arab Emirates rebounded on Thursday after a pull-back related to the upcoming initial public offer of Emaar Properties' malls unit, while bourses in Egypt and Saudi Arabia slid on profit-taking.The Dubai index closed 1.0 percent higher after falling as much as 2.1 percent at one stage. The benchmark dropped 3.4 percent in the previous session as local retail investors sold off stocks in order to raise cash for the ...
Dubai investors continue cashing out ahead of large IPO DUBAI: Investors in Dubai continued to accumulate cash in early trade on Thursday ahead of the $1.4 billion initial public offer of Emaar Malls Group, a subsidiary of Emaar Properties, the largest listed developer in the emirate. The Dubai index fell 1.3 percent as most stocks were in the red. Emaar itself was the main drag, falling 1.8 percent as its shares no longer entitled their holders to priority allotment in the malls unit's IPO. ...
Dubai may remain under pressure ahead of Emaar Malls IPO DUBAI: Dubai's bourse may remain under selling pressure on Thursday as investors prepare for the $1.4 billion initial public offer of Emaar Malls Group, a subsidiary of Emaar Properties, the largest listed developer in the emirate. The Dubai index fell 3.4 percent in the last session as local retail investors cashed out in order to take part in the IPO. Emaar plans to sell a 15 percent stake in its unit and allocate about 30 ...
Dubai stocks drop on Emaar Malls IPO, most markets slip DUBAI: Dubai's bourse fell sharply on Wednesday as investors accumulated cash for the upcoming initial public offer of Emaar Properties' malls unit, while most other markets in the region slipped.The Dubai index fell 3.4 percent after dropping as much as 4.4 percent at one stage. Emaar itself lost 2.7 percent. In one of the largest equity sales in the Middle East since 2008, the company plans to float its unit Emaar Malls Group this month ...
Dubai stocks investor cash out for Emaar Malls IPO DUBAI: Dubai's bourse pulled back in early trade on Wednesday as investors appeared to be accumulating cash for the upcoming initial public offer of Emaar Properties' malls unit.The Dubai index slid 1.1 percent as most stocks were down. Emaar itself lost 0.9 percent. In one of the largest equity sales in the Middle East since 2008, the company plans to float its unit Emaar Malls Group (EMG) this month and subscriptions for the shares will ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 11, 2014
Reserves $13.415 bln