UAE news

MubasherTrade upgraded their rating to Hold - (Photo Credit: Arabianeye-Reuters)
5 hours ago MubasherTrade maintains Emaar Malls PT
Mubasher: MubasherTrade Research has maintained their price target (PT) for Emaar Malls at AED 2.79, and upgraded their investment rating from Sell/Low Risk to Hold/Low Risk, according to a report issued Monday. Emaar Malls is currently expanding …
(Photo Credit: Arabianeye-Reuters)
27 February 08:09 PM S&P expects GCC commercial borrowing to fall to $75bn
  Mubasher: Standard & Poor’s said in a new report that it expects long-term gross sovereign commercial borrowing for the six member states in the GCC to decline to $75 billion in 2017, from $105 billion in 2016. Sovereign commercial debt with an …
DEWA plans to build 97 major transmission stations - (Photo Credit: DEWA website)
27 February 06:09 PM DEWA to establish new power stations at AED 10bn
Dubai – Mubasher: The Dubai Electricity and Water Authority (DEWA) began constructing new power stations to generate electricity in the Hessian area and Bin Rashid Al Maktoum Solar Park, at a value of AED 10 billion, according to Emirates news …
(Photo Credit: Arabianeye-Reuters)
27 February 05:02 PM UAE’s Agthia to complete Kuwait plant by 2017 end
By: Amr Adel Dubai – Mubasher: Abu Dhabi-based Agthia will likely complete its water bottling plant in Kuwait by the end of 2017, the company’s vice for water, beverage, and dairy Fasahat Beg said Thursday. The project, a joint venture with a …
Photo Credit: Company Website
27 February 04:48 PM UAE’s Al-Dahra to expand in Romania, Serbia
By: Amr Adel Dubai - Mubasher: The chief executive government officer of Al Dahra Holding, Sulaiman Al Nuamei, said on Monday that his company plans to expand in Serbia and Romania during current year. Sulaiman Al Nuamei added in his remarks to …
The project will produce 300,000 tonnes of wheat - (Photo Credit: Arabianeye-Reuters)
27 February 04:23 PM Al Dahra to launch phase 2 of Toshka project in 2018
By: Amr Adel Dubai - Mubasher: The chief executive government officer of Al Dahra Agricultural Holding, Sulaiman Al Nuamei, said that his company intends to begin working on the second phase of its project to reclaim 70,000 feddans in Toshka in …
Photo Credit: Mubasher
27 February 03:30 PM Sharjah Cement to discuss dividend proposal early March
Mubasher: The board of Sharjah Cement and Industrial Development Co will hold a meeting on 4 March to look over the recommendation of distributing dividends for fiscal year 2016. The board members of Sharjah Cement, which is listed on both Boursa …
Trump needs to lay out a clear plan regarding trade and tax policies - (Photo Credit: Arabianeye-Reuters)
27 February 02:05 PM Stock investors await Trump's speech to Congress
By: Mahmoud Gamal Mubasher: Investors are anticipating the US president's address to a joint session of Congress on Tuesday, with expectations of a big impact on the business environment in the US. Financial analyst at ForexTime (FXTM) Hussien …
(Photo Credit: Arabianeye-Reuters)
27 February 01:55 PM UAE insurers ‘back in the black’ - A. M. Best
UAE – Mubasher: Insurance companies suffered “an extremely challenging year of underwriting and investment losses” in 2015, but have “swung back into the black in 2016,” according to a new report by A. M. Best. The market suffered significant …
Eshraq was the value leader  (Photo Credit: Arabianeye-Reuters)
27 February 01:33 PM Blue chips push ADX to close in red
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a bearish performance on Monday, dragged down by the fall of blue chips. The general index fell 0.6% or 28.17 points to reach 4,628.56 points. Turnover amounted to AED 210.396 …
Trading volume reached 160.69 million shares on Monday (Photo Credit: Arabianeye-Reuters)
27 February 01:24 PM DFM losses deepen Monday
By: Mahmoud Gamal Dubai – Mubasher: The Dubai Financial Market (DFM) suffered further losses on Monday, amid a rise in selling pressures on blue chip stocks. The general index fell 0.25% or 9.05 points to reach 3,633.46 points. The market was …
Diesel will reach AED 2.02 in March (Photo Credit: Mubasher)
27 February 01:08 PM UAE to see higher fuel prices in March
Abu Dhabi – Mubasher: The UAE’s Ministry of Energy will raise local fuel and diesel prices for March, following the rise of global oil prices, according to a statement. Super 98 will rise to AED 2.03 per litre from AED 2, while Special 95 will …
(Photo Credit: Arabianeye-Reuters)
27 February 12:56 PM Emaar Malls OGM to discuss dividends 18 April
Dubai – Mubasher: Emaar Malls Group (EMG) said its ordinary general meeting (OGM) will convene on 18 April to discuss a cash dividend recommendation of 10 fils per share, representing 10% of the company's capital, according to a filing to the …
The tourism sector in Ajman is seeing continuous growth (Photo Credit: Press Release)
27 February 12:27 PM Ajman hotels generate AED 100m in 2016
Dubai Mubasher: The revenues of Ajman hotels and hotel apartments reached AED 410 million in 2016, according to the Ajman Tourism Development Department (ATDD). Hotel occupancy rates reached 69% in 2016, while the occupancy of hotel apartments …
(Photo Credit: Arabianeye-Reuters)
27 February 11:23 AM Two thirds of Dubai Expo contracts given to local firms – Official
Dubai – Mubasher: Local UAE companies have received around two thirds of contracts awarded in the construction sector to host the Dubai Expo 2020, Emarat Al Youm newspaper reported, citing the exhibition’s vice president of real estate Ahmed Al …
Traders at ADX (Photo Credit: Arabianeye-Reuters)
27 February 11:14 AM Around 65% of Abu Dhabi-listed firms approve dividends
Abu Dhabi – Mubasher: A total of 43 out of 66 listed local and foreign companies in the Abu Dhabi Securities Exchange (ADX) announced cash dividend payouts. The 43 companies’ cash dividends amounted to AED 22.74 billion in 2016, up 9% from AED …
Rental income increased 22.8% to $45.3 million in FY16 (Photo Credit: Company Website)
27 February 10:43 AM Emirates REIT portfolio grows in 2016
Dubai – Mubasher: Emirates REIT posted a growth of 12% year-on-year in its total portfolio value by the end of 2016, according to a statement. Total portfolio value reached $752.7 million as of 30 December 2016, compared to $673.2 in the …
The 150-bed facility is valued at AED 327.3 million (Photo Credit: Press Release)
27 February 09:59 AM Ajman Bank, German Hospitals Group sign deal for new project
Dubai – Mubasher: Ajman Bank has inked a financing agreement with Saudi German Hospitals Group for the construction of the Saudi German Hospital – Ajman (SGH-Ajman) project. The 150-bed facility is valued at AED 327.3 million, according to a …
Turnover amounted to AED 33 million (Photo Credit: Arabianeye-Reuters)
27 February 09:32 AM DFM sees losses in Monday’s early trades
Dubai – Mubasher: The Dubai Financial Market (DFM) opened Monday’s trading session in the red zone, weighed down by the fall of the real estate and banks sectors. The general index declined 0.2% or 7.10 points to reach 3,635.41 points by 10:25am …
The market saw trading of 7.74 million shares by 10:20am UAE time (Photo Credit: Arabianeye-Reuters)
27 February 09:24 AM ADX rises on Aldar, Etisalat at Monday’s open
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a negative performance in Monday’s early trades, weighed down by the fall of Aldar Properties and Etisalat. The general index fell 0.12% or 5.53 points to reach 465.20 points by …
IFA will disclose estimated profits worth KWD 3.2 million (Photo Credit: Mubasher)
27 February 09:13 AM IFA unit amends deal; $10.5m gain estimated
Mubasher: International Financial Advisors (IFA) said that its subsidiary IFA Hotels and Resorts has started to negotiate over amending articles in a contract with a current hotel operator. As a result of the amendments, the company will disclose …
The company’s capital amounts to AED 375 million (Photo Credit: Press Release)
27 February 09:03 AM ADNIC to discuss dividends late March
Abu Dhabi – Mubasher: Abu Dhabi National Insurance Co. (ADNIC) said its shareholders will discuss on Thursday, 28 March, to propose 15% of cash dividends, or 155 fils per share, according to a bourse filing. A total of AED 56.25 million worth …
One of NBAD's branches (Photo Credit: Bank Website)
27 February 08:38 AM NBAD, FGB merged entity posts AED 13.9bn in goodwill
Abu Dhabi – Mubasher: The combined entity of the National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) achieved AED 13.9 billion worth of goodwill in 2016, compared to AED 13.7 billion a year earlier, WAM news agency reported. The total …
Traders at DFM (Photo Credit: Arabianeye-Reuters)
27 February 06:24 AM UAE exchanges likely to move sideways
By: Mahmoud Gamal Mubasher: The UAE stock markets are likely to see a sideways movement on Monday, amid expectations that US stocks will continue their rise, analysts told Mubasher. Most portfolio investors have started to focus on banks stocks on …
Traders at DFM (Photo Credit: Arabianeye-Reuters)
27 February 06:09 AM Gulf exchanges need new liquidity – Analysts
By: Mahmoud Gamal Mubasher: Most Gulf markets need the entry of new liquidity to be able to break important resistance levels on Monday, amid the control of speculations and the decline of oil prices, capital market analyst Ahmed Akl told …