Dubai outperforms early on in otherwise lethargic GulfSource: www.export-egypt.com 2/6/2017, Location: Middle East |
|
|
|
|
|
Most stock markets in the Gulf moved little in early trade because of flat global equity markets and crude oil prices, but Dubai outperformed on the back of advances in mid-to-large sized companies.
Dubai's index added 0.5 percent as Emaar Properties gained 0.8 percent after saying it would recover 1.22 billion dirhams ($332 million) from an insurance claim for a fire that engulfed one of its hotels, The Address Downtown, on New Year's Eve 2015. But GFH Financial Group droppped 3.9 percent after announcing plans for a big increase in share capital to fund a new growth strategy of acquiring financial institutions and infrastructure investments. Large caps helped carry Abu Dhabi's index 0.1 percent higher. Dana Gas, which has not yet reported quarterly earnings, rose 1.9 percent. Saudi Arabia's index barely moved in the first half-hour. Loss-making mobile telecommunications company Etihad Atheeb sank a further 4.1 percent after dropping 3.9 percent the stock had soared last week on news that Atheeb had signed a deal to sell part of its tower network to Saudi Telecom Co. . But Yanbu Cement jumped 4.9 percent after saying it would distribute a cash dividend of 2 riyals per share for the second half of 2016, taking the full-year cash outlay to 3 riyals - although that is lower than the 5 riyals per share paid for 2015. |
|
|
Financials and Investment News in United Arab Emirates >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| United Arab Emirates Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | |
