Dubai shares rebounded strongly, driven by a surge in Emaar Properties after the country’s biggest developer scrapped plans to merge with three struggling state-controlled property companies. Market confidence was lifted by the merger cancellation,
UAE markets rebounded yesterday on assurances that Dubai will not default on its debt obligations, while Emaar shareholders cheered its board decision rejecting a merger move with Dubai Holding. The Dubai Financial Market (DFM) index rebounded sha
Dubai’s stock market closed 7.0 percent higher yesterday, its biggest gain since the debt crisis exploded, and led by Emaar Properties after it called off a merger with state-owned entities. Most other Gulf benchmarks also rallied, clawing back some of
Shares in Emaar Properties soared yesterday after the developer called off a merger with three units of Dubai Holding, helping Dubai’s index make its largest one-day gain for 41-weeks. Most other Gulf Arab benchmarks also rallied, clawing back some of
Shares in Emaar Properties soared on Thursday after the developer called off a merger with three units of Dubai Holding, helping Dubais index make its largest one-day gain for 41-weeks. Most other Gulf Arab benchmarks also rallied, clawing back some of
Dubais stock market which opened slightly up Thursday after leading Emaar cancelled a merger with government entities, plunged again within less than half hour of trading by over four percent. At 0630 GMT, the Dubai Financial Market index was trad
Dubais stock market rallied from a 42-week intraday low as stocks whipsawed in volatile trading, although renewed declines are seen before the session end. The benchmark rose 0.4 per cent to 1,539 points, having touched an intraday low of 1,462 po
Dubai shares tumbled for a third day, erasing all of this year’s gains, as Dubai World planned asset sales and Moody’s Investors Service downgraded six government- controlled entities. Emaar Properties PJSC, the United Arab Emirates’ biggest de
Abu Dhabi’s index slumps to a 32-week low as stocks tumble, while Dubai shares fell to their lowest level in 38 weeks. Property and banks led the bourse down in Abu Dhabi. These are the two most liquid sectors and so are easiest for investors to
Share prices in the United Arab Emirates were battered again yesterday over Dubais worsening debt woes, as the Gulf country insisted it was coping with the global economic crisis. The main index on the Dubai Financial Market shed 6.39 per cent to f