UAE news

Turbulences in global financial markets will need to be tackled along the way
1 hour ago BIS calls on central banks to hike rates
Mubasher: The Bank for International Settlements on Sunday called on the world's major central banks to increase interest rates. Turbulences in global financial markets will need to be tackled along the way, Reuters reported, citing the BIS, which …
"We have a strong appeal to international investors"
03:20 PM UAE property sector sees 25% activity rise in Q1 – DLD director
Dubai – Mubasher: The UAE's real estate sector has witnessed a 25% rise in overall transactional activity in the first quarter of 2017, said the Dubai Land Department's (DLD) director general at the first Ramadan Real Estate Majlis. Speaking at …
(Photo credit: Radio Free Europe)
12:42 PM Alternative to Qatar demands 'not escalation but parting ways' says UAE minister
Early on Saturday, a top UAE official stated that if Qatar failed to accept the ultimatum issued by Arab states against it, then the alternative would "not [be] escalation but parting ways", Reuters reported. "The alternative is not escalation, …
Lawmakers failed to access their emails away from Westminster
12:02 PM UK lawmakers suffer cyber security attack – AP
Mubasher: One month after the ransomware attack crippled the UK's health service, a new attack was launched against the British parliament on Saturday, The Associated Press reported. Hackers attempted to gain access to email accounts, officials …
Dubai International Financial Centre
24 June 11:05 AM DIFC rules in favor of Viceroy in Palm Jumeirah hotel case
Dubai - Mubasher: Dubai International Financial Centre (DIFC) Courts has ruled against the owner of the Viceroy Palm Jumeirah Dubai hotel preventing Viceroy Hotels and Resorts from managing and operating the hotel. The court order prohibits Kabir …
Mubadala also withdrew from negotiations with lenders
24 June 03:08 AM Mubadala pulls out of Etisalat Nigeria
Abu Dhabi - Mubasher: Abu Dhabi state investment fund (Mubadala) has decided to pull out of Etisalat Nigeria after the company failed to reach an agreement regarding its $1.2 billion loan with Nigerian banks. The company took the loan four years …
The report predicted that only nine countries will form half of the world's population by 2050
23 June 04:38 PM UN raises world population forecasts to 9.8bn by 2050
Mubasher: The world's population is expected to grow to 8.6 billion by 2030, 9.8 billion by 2050 and 11.2 billion by 2100, mainly driven by Africa's rising populations, according to The United Nations' (UN) forecasts. The UN adjusted its previous …
FAB has a weight of 37% on the ADX
23 June 04:06 PM First Abu Dhabi Bank ADX weight hits 37%
Abu Dhabi – Mubasher: Equity weight of First Abu Dhabi Bank (FAB) represents around 37% of the Abu Dhabi Securities Exchange's (ADX) total equity weight by the end of May. The bank, which is listed under the symbol NBAD, also weighs around 0.65% …
The relocation will result in hundreds of jobs leaving London
23 June 03:51 PM EU to relocate 2 agencies from London
Mubasher: The European Union (EU) on Friday announced it would move the European Medicines Agency (EMA) and European Banking Authority (EBA) out of London by the Brexit deadline, set on 30 March 2019, according to BBC News. The EU will hold a …
The DFMGI dropped 1.65% or 57.13 points to 3,402.31 points
23 June 11:54 AM DFM falls 1.6% in week; investment, real estate weigh
By: Mahmoud Gamal Dubai – Mubasher: The Dubai Financial Market (DFM) closed the week ended Thursday, 22 June in the red, weighed down by the investment, real estate and transport sectors. The DFMGI dropped 1.65% or 57.13 points to 3,402.31 points. …
ADX market capitalisation closed the week at AED 425.846 billion
23 June 11:07 AM ADX hits 2.5M low in week as 6 sectors drop
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed the week ended Thursday, 22 June in the red, marking its sharpest drop in over two-and-a-half months. The benchmark index shed 1.56% or 27.48 points and closed at 4,431.57 …
Traders at Abu Dhabi's bourse
22 June 01:25 PM ADX closes Thursday lower
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a negative performance on Thursday, dragged down by the fall of real estate and energy sectors. The general index fell 0.62% or 27.48 points to reach 4,431.57 points. Turnover …
Traders at Dubai's bourse
22 June 01:16 PM DFM falls Thursday; consumer staples lead losers
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Thursday, backed by sales of blue chips. The general index fell 0.47% or 16 points to reach 3,402.31 points. The consumer staples sector led losers with a 2.86% …
Nuran Marina
22 June 11:27 AM Eshraq to sell shares in Ward Holdings
Abu Dhabi – Mubasher: Eshraq Properties said its board ratified the sale of its shares in Ward Holdings, according to a statement. The company approved vesting the power of attorney to the vice chairman and/or another board member to sign on …
Traders at Abu Dhabi's bourse
22 June 11:14 AM ADX loses 28.87 pts at Thursday’s open
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a negative performance in Thursday’s early trades. The main index sank 0.65% or 28.87 points to reach 4,430.27 points. The energy sector decreased 1.53% as Dana Gas retreated 1.45%. …
UAE foreign investment funds rise 5.6% in 2016 – SCA
22 June 11:13 AM UAE foreign investment funds rise 5.6% in 2016 – SCA
Abu Dhabi – Mubasher: The number of foreign investment funds registered with the Securities and Commodities Authority (SCA) in the UAE increased 5.6% to reach 633 by the end of 2016, compared to 599 in 2015. Regarding the funds registered with the …
Traders at Dubai's bourse
22 June 11:09 AM DFM suffers losses at Thursday’s open
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance in Thursday’s early trades. The main index fell 0.13% or 4.49 points to reach 3,413.81 points by 12:00 pm UAE time. The services sector led losers with a 2.5% as Tabreed …
Traders at Dubai's bourse
22 June 10:56 AM GFH stock declines 7%
Dubai – Mubasher: The GFH Financial Group’s stock fell 7.5%, following the decline of Integrated Capital’s stake in the company. GFH’s stock declined by 11:52 am UAE time to AED 1.970, its lowest level since January. The stock saw trading of 83.72 …
UNB was the sole lead manager and lead receiving bank for Orient UNB Takaful’s IPO (under incorporation)
22 June 10:26 AM Orient UNB Takaful lists shares on DFM
Dubai – Mubasher: Orient UNB Takaful listed its shares on the Dubai Financial Market (DFM) on Thursday, 22 June, according to a bourse statement. Union National Bank (UNB) said Orient UNB Takaful’s initial public offering (IPO) was oversubscribed …
Deyaar's headquarter
22 June 09:30 AM Deyaar picks UC Forward to market properties in China
Dubai – Mubasher: Deyaar Development has signed an agreement with real estate marketing and consultancy company UC Forward to run roadshows in China, according to a statement. The agreement will help Deyaar showcase its properties to Chinese …
The new Aladdin software from SGE will control and manage maintenance across all its hotels and residences
22 June 09:22 AM Time Hotels to restructure maintenance system
Dubai – Mubasher: UAE-based Time Hotels has partnered with UAE’s SGE to restructure engineering across its GCC properties, according to a bourse statement. The new Aladdin software from SGE will control and manage maintenance across all its hotels …
The entitlement date will be 22 June, while the ex-date will be on 28 June
22 June 09:06 AM Arabtec Holding obtains approval for capital cut
Dubai – Mubasher: Arabtec Holding has obtained the regulatory approval for its share capital reduction from AED 6.1 billion to AED 1.5 billion, according to a bourse statement. The entitlement date will be 22 June, while the ex-date will be on 28 …
One of Dana's projects
22 June 08:39 AM Dana Gas postpones phone conference with sukuk holders
Abu Dhabi – Mubasher: Dana Gas has decided to postpone the phone conference on Wednesday, 22 June, with its sukuk holders to discuss the plan to restructure existing sukuk, according to a statement. The company will reschedule it to a more …
Traders at Abu Dhabi's bourse
22 June 08:17 AM GCC bourses likely to see calm trades ahead of Eid Al Fitr - Analysts
By: Mahmoud Gamal Mubasher: The GCC stock markets are expected to see calm trading on Thursday as investors are shying away from building new positions ahead of the Eid Al Fitr holiday, amid the decline of oil prices to their ten-month low, …
Damac will redevelop Mina Sultan Qaboos Waterfront
21 June 04:17 PM Damac, Omran ink $1bn port renovation deal
Mubasher: Damac International announced that it has been chosen by the government of Oman to develop its Port Sultan Qaboos into a world-class, waterfront mix use destination through a joint venture with Omran, the government’s investment, growth …