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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 IPO.In one of the largest equity sales in the Middle East since 2008, Emaar, Dubai's largest listed developer, plans to float its unit Emaar Malls Group this month and subscriptions for the shares will open on Sept. 14.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 billion) from the offer. It has also said it aims to sell about 30 ...

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 ...
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 ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
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