Abu Dhabi stocks rose for a seventh day, after the emirate’s companies reported higher quarterly earnings.
Abu Dhabi National Energy Co advanced 0.8 per cent after the state-run company known as Taqa this week posted higher second-quarter earnings.
Emirates Telecommunications Corp, increased 0.2 per cent to Dh9.14. The ADX General Index climbed 0.1 per cent to 2,556.96 points, the highest close since April 8 and the longest winning streak since March 4. Dubai’s DFM General Index also rose 0.1 per cent to close at 1,578.98 points. Meanwhile DFM, on Wednesday announced that its listed local public joint stock companies have recorded a 100 per cent compliance regarding the disclosure of Q2-2012 results within the deadline of 45 days from the end of the period.
UAE revives bourse merger plan after aluminium deal
The UAE has revived a proposal to merge its two main stock exchanges in a state-backed deal that could boost trade in the local market and attract more foreign investment to the Gulf state, sources f
Fitch Places BMB Investment Bank on Rating Watch Negative
Fitch Ratings has placed BMB Investment Bank's Long-term Issuer Default Rating (IDR), Short-term IDR and Viability Rating (VR) on Rating Watch Negative (RWN). A full list of rating actions is at the
China Banking Stress May Come Faster on Cash Crunch, Fitch Says
China’s worst cash crunch in at least seven years is an indicator of shadow lending gone awry and a banking crisis may appear earlier than expected if liquidity remains tight, according to Fitch Rati
Bonds bid on RBI's multiple price auction
The benchmark 10-year bond yield was flat at 7.25 pc. Bond prices were slightly higher as RBI will hold a uniform price-based auction on Friday, instead of the multiple price in recent weeks.
<