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Dubai rises; Waha Capital jumps on buyback plan DUBAI: Dubai's stock market continued its recovery in early trade on Monday from last week's slide, while Abu Dhabi's Waha Capital surged after saying it planned a share buyback. The Dubai index added 0.9 percent as most stocks rose. Emaar Properties, which on Sunday opened subscriptions for the $1.58 billion initial public offer of its malls unit, was the main support, gaining 0.4 percent. Cashing out by retail investors in preparation for the IPO was the main reason behind Dubai's 3.1 percent decline last week, and their return to the market is now supporting its recovery. Shares in National Central Cooling Company (Tabreed) rose 0.6 percent after the company said on Sunday it had secured a contract to provide cooling infrastructure for the new Dubai Parks and Resorts development. Abu Dhabi's bourse was nearly flat but investment firm Waha Capital surged 6.8 percent after announcing that its board will discuss ...

South Africa's stock market delays open on network problems JOHANNESBURG: South Africa's Johannesburg Stock Exchange was experiencing a network connectivity problem that had delayed the start of trade on Monday, it said in a statement, adding that this required a reboot of one of its trading switches. "Some equity market clients may lose connectivity temporarily. Please note this will not affect any other market connectivity as only the equity market operates through this trading network," it said. Copyright Reuters, 2014 ...
Dubai may rally further; Saudi market nears chart support DUBAI: Dubai's stock market looks likely to continue recovering on Monday from last week's slide as retail investors are back in the market, while Saudi Arabia's bourse may test chart support after a few days of profit-taking. The Dubai index added 0.6 percent on Sunday and local retail investors were the main buyers, according to bourse data.The benchmark fell 3.1 percent last week as the same category of investors cashed out to prepare for the ...
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 ...
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. ...

 



 
Index Closing Chg%
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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 18, 2014
Reserves $13.525 bln