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21 July 03:37 PM

UAE news

The ADX’s general index inched up 17.24 points
19 minutes ago ADX adds 17.2 pts on Sunday
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed Sunday’s trading session on a positive note on the back of the banks sector. The ADX’s general index inched up 17.24 points, or 0.33%, to 5,235.37 points. Trading volume amounted …
Trading Activities
Trading volume amounted to 145.048 million shares
29 minutes ago DFM ends Sunday in red
Dubai – Mubasher: The Dubai Financial Market (DFM) closed Sunday’s trading session in red territory, pressured by the declining blue-chip stocks. The DFM’s general index shed 23.72 points, or 0.86%, to 2,739.26 points. Trading volume amounted to …
Stock Evaluations
The project comprises two network extensions to inter-connect 7 semi-permanent plants
48 minutes ago UAE's Empower awards AED 100m contracts for network extension at DPC
UAE - Mubasher: Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, on Sunday announced that it has awarded contracts valued at over AED 100 million to extend its cooling service pipeline …
Macroeconomics
Jian Liu, CEO of Fang
2 hours ago China's top real estate internet platform launched in UAE
UAE - Mubasher: Fang, China’s leading real estate internet platform in terms of the number of page views and websites visitors, announced the launch of uae.fang.com, a dedicated portal for the UAE. The Chinese online platform, which is a part of …
Companies Investments
The strategic alliance will offer their clients access to a wider and more flexible network
2 hours ago ADIB, Al Baraka Banking ink MoU for network expansion
Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB), a leading financial institution in the UAE, and the Bahrain-based Islamic multinational banking group Al Baraka Banking Group on Sunday announced the signing of a memorandum of understanding …
Corporate Actions
NBF achieved an AED 567 million in operating profit for H1-19
4 hours ago UAE’s NBF logs AED 357m profit in H1
Abu Dhabi – Mubasher: National Bank of Fujairah (NBF), listed on the Abu Dhabi Securities Exchange (ADX), reported a 15.1% year-on-year growth in its net profit for the first half of 2019, recording AED 357.1 million. NBF has achieved an AED 567 …
This move comes after the bank obtained SAMA's approval to open 20 branches in KSA
4 hours ago UAE’s Emirates NBD eyes expansion in Saudi Arabia
Dubai – Mubasher: Emirates NBD, a UAE-based leading banking group, announced it is looking to expand its footprint in Saudi Arabia. This major move comes after the bank obtained the Saudi Arabian Monetary Authority’s (SAMA) approval to open 20 …
Selling orders reached a volume of 2.17 million shares
4 hours ago IFA’s stock up 8% after resuming trading on Sunday, OGM’s decisions
By: Mohamed Farouk Mubasher: The stock of the International Financial Advisors (IFA) advanced 8.3% or 2 fils to reach 24.9 fils, after trading on its shares has resumed early Sunday. By 10:40 am Kuwait local time, IFA’s stock registered a trading …
Trading Activities
The board of directors has not reached a final decision regarding this matter
5 hours ago FAB proposes removal of foreign ownership limit
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB), listed on the Abu Dhabi Securities Exchange (ADX), announced that it has discussed the removal of foreign ownership limit as a proposal during its board meeting. This proposal has been tackled for …
Banking and Finance
Trading on IFA’s stock has resumed on Sunday
5 hours ago IFA to offset KWD 57m accumulated losses; trading resumes
Mubasher: The shareholders of the International Financial Advisors (IFA) approved to offset the company’s accumulated losses of KWD 57.3 million as registered on 31 March 2019. During the ordinary general meeting (OGM) on Thursday, the …
S&P raised its insurer financial strength and issuer credit ratings on Salama
10:34 AM S&P upgrades Dubai’s Salama to ‘BBB’
Dubai – Mubasher: S&P Global Ratings announced it has upgraded its insurer financial strength and issuer credit ratings on Islamic Arab Insurance Co (Salama) to 'BBB' from 'BBB-', with a stable outlook. This rating comes following a review of …
Ratings
Afnan and Dania are set to be delivered later this year
09:16 AM Two districts at Deyaar’s Midtown near completion
Dubai – Mubasher: Deyaar Development, a leading property developer based in the UAE, on Sunday announced it is nearing the completion of two districts within its Midtown community development. Located in Dubai Production City, the Midtown …
Companies Investments
"We remain committed to obtaining an investment-grade rating"
20 July 11:20 PM Fitch assigns 'BBB-' rating for DAE’s IDR
UAE – Mubasher: Fitch Ratings has assigned an overall 'BBB-' rating to Dubai Aerospace Enterprise’s (DAE) long-term issuer default ratings (IDR), with a stable outlook, according to the Emirates News Agency (WAM). Since the acquisition of AWAS …
Ratings
In 2018, China’s exports to the UAE rose by 3.2%
20 July 09:51 PM Chin-UAE trade hits $11.2bn in Q1
UAE – Mubasher: Bilateral trade between China and the UAE grew by 16.21% year-on-year to $11.2 billion in the first quarter of 2019, the Chinese Ambassador to the UAE, Ni Jian, told the Emirates News Agency (WAM). The trade exchange between both …
Macroeconomics
“Hala started a trial e-hailing service for Dubai Taxis in May"
20 July 08:55 PM Dubai’s RTA, Careem launch taxi e-hailing brand in Dubai
Mubasher: Dubai’s Roads and Transport Authority (RTA) and raid-hailing company Careem on Saturday launched taxi e-hailing brand in Dubai under a Joint Venture (JV) named Hala. The new platform will begin its services to customers as of September …
Companies Investments
The UAE’s imports from Egypt went up to $2.1bn
20 July 06:52 PM UAE-Egypt trade amounts to $5.5bn in 2018
UAE – Mubasher: The trade exchange between Egypt and the UAE grew by 14% year-on-year to $5.48 billion (AED 20.1 billion) in 2018, according to Al-Ittihad newspaper. The UAE’s imports from Egypt went up to $2.1 billion last year, compared to $1.9 …
Macroeconomics
The Kuwaiti economy is still dependent on oil
20 July 06:21 PM S&P affirms Kuwait’s credit rating at ‘AA’; outlook stable
Mubasher: Standard and Poor's (S&P) has kept Kuwait’s credit rating at ‘AA’ with a stable outlook, the Kuwait News Agency (KUNA) reported on Saturday. The global rating agency stated that it could raise that rating if Kuwait conducted a broad …
Ratings
Oil prices rose in the second quarter of 2019
20 July 04:43 PM Kuwait’s non-oil economy to grow by 2.5% in 2019
Mubasher: While the growth of the global economy became more and more subject to many questions and doubts, the Kuwaiti economy maintained its stability, achieving a slight margin of improvement. Kuwait’s GDP grew by 2.6% year-on-year in the first …
Macroeconomics
19 July 11:45 PM Oil increases at Friday’s settlement   
Mubasher: Oil futures ended higher on Friday, falling 7.6% for the week.  
Oil and Energy
19 July 10:21 PM Gold finishes down on Friday
Mubasher: Gold fell at Friday’s settlement, gaining 1% for the week.
Goods and Metals
Saudi oil output fell by 137,000 bpd in May
19 July 09:00 PM Saudi Arabia’s crude oil exports marks 13M-low in May
Riyadh – Mubasher: Saudi Arabia’s crude oil exports declined to 6.94 million barrels per day (bpd) in May 2019, recorded the lowest level since October 2017. The kingdom’s exports dropped by about 240,000 barrels per day (bpd) in May 2019, from …
Companies Investments
The banking sector added 3.3%
19 July 07:36 PM ADX gains AED 15.4bn in week
Abu Dhabi – Mubasher: The general index of the Abu Dhabi Securities Exchange (ADX) went up 165.7 points, or 3.3%, to 5,218.1 points in a week. Market capitalisation grew to AED 534 billion over the week, compared to AED 518.6 billion a week …
Trading Activities
19 July 07:02 PM India gov’t mulls loans from foreign banks for small firms
Mubasher: The Indian government was in talks with foreign lenders to extend up to $14.5 billion lines of credit to millions of its small firms.
Global Reports
The banking sector added 2.47%
19 July 06:37 PM DFM levels up 77 pts in week
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index grew 77.4 points, or 2.9%, to 2,762.98 points in a week. Market capitalisation went up to AED 361.57 billion over the week, compared to AED 353.1 billion last week. The DFM’s …
Trading Activities
19 July 05:10 PM US consumer confidence stands firm in early July
Mubasher: Initial estimates by the University of Michigan indicated that the US consumer sentiment slightly grew virtual change during the first half of July.
Global Markets brief