By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index gained 1.33% to close at 2,954.46 points in a week, pushed up by UAE government decisions on foreign shareholding and residency.

Earlier in May, the UAE cabinet announced new decisions including granting some foreign competences and investors 10-year residency visas and lifting the foreign shareholding limit to 100%.

Some good news from Dana Gas and GFH have also boosted the market over the week, MindCraft Consultants’ CEO Fadi Al Ghattis commented.

The consumer staples sector and its stock DXB Entertainments jumped 13.2% each, with the stock reaching AED 0.424.

The real estate sector grew 0.8%, as Emaar Properties rose 1.17% to AED 5.19 and Arabtec Holding increased by 1.03% to AED 1.96.

The DFM’s trading volume reached 442.89 million shares, while the market’s liquidity hit AED 636.46 million.

Translated by: Muhammad Khalid