The Abu Dhabi market gauge ended up 0.31% to reach 2,623.02 points. Shares of the emirate's leading developers Aldar and Sorouh gained 1.45% and 2.24%, respectively. Both firms, which started merger talks on Sunday, advanced in lockstep he last on Monday and on Sunday. The lockstep rise triggered an investigation by the ADX market supervision department. The UAE's first telecom provider Etisalat ended even at Dh9.30. Earlier in the day, Etisalat said it started legal procedures for winding up its Indian subsidiary Etisalat DB Telecom (formerly Swan Telecom). Etisalat, which was confronted with a legal row with the India's telecom regulator and eventually the supreme court on licences, blamed in its statement to the ADX its jointventure partners in India of 'unwillingness and lack of cooperation' to meet funding requirements in the licence issue. As a consequence, Etisalat to shut down operations in India.
Green bond market in 2014 set to exceed 2013
Laying out the landscape for green financing in a session titled Private Financing for the Green Economy, Zoe Knight, Head of Climate Change Centre of Excellence at HSBC, remarked, “The green bond ma
Zain Saudi Q1 net loss narrows
Zain Saudi reported a first-quarter loss on Wednesday which narrowed from a year earlier and beat analyst forecasts as the telecom operator cut costs and data revenue surged.
Sabic showcases steel products at Riyadh expo
Saudi Basic Industries Corp showcased its wide range of steel products for the building and construction sector at the Metal & Steel Saudi Arabia 2014 exhibition held recently in Riyadh.