DUBAI: Gulf bourses recovered some of their losses Monday as they appeared to have mostly absorbed the shock of the historic downgrading of US credit rating which has sent global markets tumbling. The Abu Dhabi Securities exchange opened up 0.23 percent at 1,478.68 points, after it had fallen 2.3 percent on Sunday. It increased its gains by midday to 0.34 percent. The Dubai Financial Market recovered slightly by midday, edging up 0.66 percent after it had opened ...

LAGOS: Nigeria's Securities and Exchange Commission (SEC) on Sunday said it had suspended trading on the shares of Afribank, Spring Bank and Bank PHB, following the nationalization of the three lenders. SEC also approved a technical suspension on the trading of Finbank, Intercontinental, Oceanic Bank and Union Bank shares, pending the completion of recapitalization deals. Technical suspension means that trading on the shares can continue without any change in price.   Copyright Reuters, 2011   ...

DUBAI: Gulf markets ousted on Sunday, with major bourses in Dubai and Qatar slumping more than 5 percent, on worries a US ratings downgrade and European debt woes may trigger another global downturn. S&P cut the US long-term credit rating by a notch to AA-plus in an unprecedented blow to the world's largest economy. It called the outlook "negative," signalling another downgrade is possible in the next 12 to 18 months. Rattled investors in the world's largest ...