Dubai – Mubasher: The stock of Emirates Integrated Telecommunications Co. “du” commenced Tuesday in the red on the Dubai Financial Market (DFM), despite signing an AED 110 million contract with Kuwait’s Hayat Communications.
The stock fell 0.2%, after 15 minutes of trading, to AED 5.100.
The Kuwaiti firm had announced signing an AED 110 million three-year contract with the UAE’s du to maintain all its fixed and cellular networks in the emirate of Dubai.
Turnover on the stock reached around AED 532,300 after 104,350 shares were traded through four transactions.
The DFM’s general index retreated by 0.12%, shedding 4.43% to 3784.4 points, continuing its declines for the fourth successive session.
The Dubai Electricity and Water Authority (DEWA) recently announced signing a memorandum of understanding (MoU) with du to boost cooperation in the field of smart services as part of Dubai Smart City.