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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 and subscriptions for the shares will open on Sept. 14."People are trying to take profits in order to take part in the IPO," said Marwan Shurrab, fund manager and head of trading at Vision Investments in Dubai. "Any selling pressure you see on the market is going to be related to that."Emaar, which plans to sell a 15 percent stake in its subsidiary, has indicated it wants to raise at least 5.3 billion dirhams ($1.4 ...

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 ...
Dubai's Emaar may rise as investors seek priority in unit's IPO DUBAI: Shares in Dubai's largest listed developer, Emaar Properties, may rise on Wednesday, the last trading day when buyers can gain the right to priority allotment in the initial public offer of Emaar's malls unit. The company plans to float the unit this month and subscriptions for the shares will open on Sept. 14. The long-expected offer would be one of the largest equity sales in the Middle East since 2008, and Emaar has said ...
Dubai, Qatar rebound, other markets mixed DUBAI: Stock markets in Dubai and Qatar resumed their uptrend on Monday after mild profit-taking in the previous session, while most markets in the region moved little in the absence of fresh catalysts.Dubai's bourse climbed 1.1 percent to 5,091 points after briefly dipping below the psychologically important 5,000 point level early in the session.Emaar Properties, the emirate's largest listed developer, was the main support, rising 1.8 percent. The company plans to float its malls unit ...
South African stocks falter as valuation worries weigh JOHANNESBURG: South African stocks fell on Monday as investors dumped index heavyweights such as Barclays Africa and Shoprite on concerns about valuations.Shares of retailer Woolworths tumbled 7.7 percent to 74.78 rand as it traded both ex-dividend - without the right to its latest dividend payment - and ahead of the listing of new shares from a recent rights offer.Many investors are betting South Africa is likely to see little gains in the remainder of the ...
Dubai stocks pulls back further; Ezz Steel climbs in Egypt DUBAI: Dubai's bourse continued to slide in early trade on Monday after its main index failed to break through chart resistance and investors started preparing for the initial public offer of shares in Emaar Properties' mall unit.The Dubai index fell 0.7 percent and hovered around the psychologically important 5,000 point mark as most stocks were in the red.Prompting some investors to cash out, Emaar, Dubai's largest listed developer, said on Sunday that subscriptions for the ...
Nigerian stocks up as investors buy into banks LAGOS: Nigerian stocks ended in the black on Friday led by banking shares after news that two foreign investors had bought significant stakes in Ecobank and Union Bank, helping reverse earlier losses recorded this week. London-listed Atlas Mara, the African investment vehicle of former Barclays boss Bob Diamond, on Friday increased its stake in Union Bank to almost 30 percent with a $270 million investment, boosting sentiment on the Nigerian bourse. Sub-Saharan Africa's second-biggest index ...

 



 
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 $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln