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UAE markets lead gains as Dubai's Emaar rebounds DUBAI: Bourses in the United Arab Emirates outperformed the region on Wednesday as Dubai developer Emaar Properties rebounded after profit-taking and Abu Dhabi's Waha Capital jumped after securing $575 million in fresh funding.Dubai's main index rose 1.1 percent to a three-month closing high of 5,172 points as shares in Emaar gained 2.2 percent. The stock had dropped 3.0 percent on Tuesday after surging 13.7 percent in the two previous sessions.Emaar, the emirate's largest listed developer, plans to float its malls unit this month in a deal likely to raise 8 to 9 billion dirhams ($2.18-$2.45 billion) and will reserve 10 percent of the offered shares for its own shareholders.The company reiterated on Wednesday that only investors holding its stock at the end of trading on Sept. 10 would qualify for priority allotment.Shares in bourse operator Dubai Financial Market, which may benefit from higher turnover thanks to the IPO of Emaar's ...

Egypt rises on real estate; Saudi, Dubai pull back DUBAI: Egypt's bourse outperformed an otherwise sluggish region on Tuesday on the back of property firms and other blue chips, while banks dragged down Saudi Arabia after the kingdom's central bank tightened consumer lending regulations.The Cairo index rose 1.8 percent, its biggest gain in five weeks, after the country's central bank on Monday kept interest rates unchanged, as expected by the market, and said there was upside risk to the inflation outlook.At its previous meeting ...
South African stocks up as investors buy into retailers JOHANNESBURG: South African stocks ended in the black on Tuesday led by retailers such as construction materials seller Cashbuild and upscale food and clothing retailer Woolworths.JD Group gained after the furniture retailer said it had agreed to sell its struggling financing arm.South African companies are cutting back the amount of credit they extend to low-income consumers as over indebtedness and unemployment squeeze customers' ability to repay loans."It's another example of just how bad things are ...
Dubai nears chart barriers, may see profit-taking DUBAI: Dubai's stock market, lifted in the past two days by the upcoming initial public offer of developer Emaar Properties' malls unit, is nearing strong technical resistance that may encourage profit-taking. The Dubai index rose 1.5 percent to 5,141 points on Monday. It dropped sharply in June after hitting that month's peak of 5,192 points, and faces bigger resistance at May's multi-year peak of 5,407 points. The June drop was largely due to builder Arabtec ...
Property firms lift UAE; Saudi banks, petchems pull back DUBAI: Property firms, led by Dubai's Emaar Properties which has said it will float its malls unit in September, helped lift stock markets in the United Arab Emirates on Monday, while the advance of Saudi Arabia's bourse slowed.Dubai's main index rose 1.5 percent as Emaar, the emirate's biggest listed developer, jumped 4.5 percent to 11.65 dirhams, a fresh six-year high; trading volume in the stock was the highest since April 2010. However, Emaar closed well ...
South Africa stocks advance as Bidvest jumps JOHANNESBURG: South African stocks ticked higher on Monday, as Bidvest Holdings advanced after the industrial conglomerate said it could list its food unit in London, a potential windfall for investors.But gains were limited by concerns Johannesburg stocks are overheated after a series of record highs this year and worries about lacklustre growth in Africa's most developed economy."We're quite fully valued across the board," said Abri du Plessis, a portfolio manager at Gryphon Asset Management in ...
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 ...

 



 
Index Closing Chg%
Arrow DJIA 17,814.94 0.02
Arrow Nasdaq 4,758.25 0.07
Arrow S&P 2,067.03 0.12
Arrow FTSE 6,731.14 0.02
Arrow DAX 9,861.21 0.77
Arrow CAC-40 4,382.31 0.32
Arrow Nikkei 17,407.62 0.29
Arrow H.Seng 23,843.91 0.21
Arrow Sensex 28,338.05 0.57






Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln