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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 Holding , whose shares tumbled after Abu Dhabi state fund Aabar Investments slightly reduced its stake in the firm, a move which was followed by an abrupt resignation of Arabtec chief executive Hasan Ismaik. The stock has since partly recovered but remains volatile as Ismaik is the largest shareholder with a 27.90 percent stake in Arabtec. Ismaik said last week he was in talks with Aabar on selling part of his stake to the fund ...

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 ...
Dubai's Emaar may rise further, most markets bullish DUBAI: Emaar Properties, Dubai's largest listed developer, may rise further on Monday after surging in the last session on news that the company will float its malls unit in September, while other regional markets also look positive. The stock jumped 8.8 percent to 11.15 dirhams on Sunday, its highest close since March 2008, rising above resistance at 11.10 dirhams, its May peak. A higher close on Monday would confirm a break of this resistance and ...
UAE, Qatar rebound, Emaar surges on malls unit IPO plan DUBAI: Bourses in the United Arab Emirates and Qatar rebounded in early trade on Sunday and Dubai developer Emaar Properties surged after the firm said it would launch an initial public offer for its malls unit next month.Stock markets in both countries dipped in the last session as passive funds tracking MSCI's frontier market index liquidated part of their holdings in UAE and Qatari stocks.MSCI upgraded the UAE and Qatar from frontier to emerging market ...
Foreign selling weighs on Qatar, UAE markets DUBAI: Qatar's bourse dropped sharply on Thursday as selling by retail investors and frontier market funds more than offset inflows related to the country's increased weighting in MSCI's emerging market index.The Doha index fell 3.1 percent, its biggest daily decline since February 2011. Mobile phone operators were hit hardest: shares in both Ooredoo and Vodafone Qatar tumbled their daily 10 percent limits.Islamic lenders Masraf Al Rayan and Qatar Islamic Bank dropped 7.8 and 4.4 percent ...

 



 
Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24





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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 23, 2014
Reserves $13.465 bln