The Abu Dhabi Securities Exchange (ADX) lost 1.14%, closing at 2,444.60 points. Real estate developers Aldar (off 6.27%) and Sorouh (down 5.22%) were again among the top losers, as UAE cement producers reduced the price for cement from Dhs16 to Dhs14 per bag. National Bank of Abu Dhabi (NBAD) declined 1.62%.The UAEs second largest bank (after Emirates NBD) net earning were up 57% in the first quarter compared to Q4 2008, but down by 12% on a year-on-year basis.National Bank of Ras Al-Khaima (RAK Bank) bucked tha trend and gained 9.58%.
Gold falls to one-month low as Fed comments lift dollar
Gold fell for a seventh straight session yesterday, its longest losing streak in four years, as speculation that the US Federal Reserve may soon rein in monetary easing lifted the dollar.
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Saudi projects win MEED awards
The Gulf region’s highest quality projects were revealed at the 2013 MEED Quality Awards for Projects.
It took place in association with Ernst & Young.
Saudi Arabia and Oman broug
Kuwait Airways says signs initial deal with Airbus
State-owned Kuwait Airways said it had signed an initial agreement with Airbus to buy 25 new aircraft and take an option on 10 more in the biggest overhaul of its fleet since the 1990 Iraqi invasion.
Knowledge is key to economic growth: Mansouri
Sultan bin Saeed Al Mansouri, UAE Minister of Economy, has stressed that knowledge today is crucial to production and economic growth around the world. This came in his opening speech at the 2nd “Eco