UAE news

DFM Company's total revenues reached AED 239.3 million in H1-17
24 July 04:05 PM DFM Company profits down in Q2
Dubai – Mubasher: DFM Company posted a 19% year-on-year decline in its profits during the second quarter of 2017, according to a statement. Net profits reached AED 43.3 million ($11.8 million) in Q2-17, compared to AED 53.5 million ($14.6 million) …
Any increase in shale oil production in the short term would hurt oil markets
24 July 03:51 PM Too early to discuss additional oil output cuts – UAE Minister
Abu Dhabi – Mubasher: Global oil demand is expected to rise in the second half of 2017, according to the UAE energy minister Suhail bin Mohammed Faraj Al Mazrouei. Any increase in shale oil production in the short-term would hurt oil markets, Sky …
SHUAA has been market making on all futures since the market opened on 1 September
24 July 03:20 PM Nasdaq Dubai sees higher equity futures in July – SHUAA
Dubai – Mubasher: Nasdaq Dubai broke a new record in July with the value of equity futures traded rising 76% to AED 17.6 million from AED 10 million in June, according to a statement by SHUAA Capital. SHUAA facilitates access to a robust platform …
Voluntary participation shall not exceed 2% of net profit average during fiscal years 2015 and 2016
24 July 02:01 PM Foodco nods to construction of 2 buildings
Abu Dhabi – Mubasher: Foodco Company’s shareholders approved on 23 July to sign a deal with a related party for the construction of two residential buildings on a plot owned by the company, according to a bourse statement. The board also provided …
Trading volume reached 177.152 million shares on Monday
24 July 01:39 PM DFM closes Monday in green
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Monday, backed by the rise of telecom and real estate sectors. The DFMGI rose 0.08% or 2.97 points to reach 3,599.38 points. The telecom sector added 0.54% as du went …
NBAD was the value leader
24 July 01:16 PM ADX marginally rises at Monday close
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a positive performance on Monday, backed by the rise of energy and telecom sectors. The general index gained 0.12% or 5.45 points to reach 4,540.24 points. Trading volume reached …
Earlier this year, the company unveiled its $1 billion tower project at Dubai Creek Harbour
24 July 01:08 PM Emaar plans $1bn tower before 2020
Dubai – Mubasher: Emaar Properties called contracting companies to submit bids for the construction of the Tower at Dubai Creek Harbour, MEED magazine reported. This step reflects the company’s desire to complete the tower before 2020. Earlier …
The AED 135 million development includes 18 land plots
24 July 11:33 AM Amlak Finance completes 1st phase of Mirdiff project
Dubai – Mubasher: Amlak Finance completed the first phase of its new residential development project in Mirdiff, according to a press release. Comprising 54 villas, the project is scheduled for completion by the fourth quarter of 2017. Phase 1 …
Provisions fell to AED 374.89 million year-on-year in Q2-17 to AED 417.12 million
24 July 10:52 AM RAKBank profits grow 16% in Q2
Abu Dhabi – Mubasher: RAKBank reported a rise in its profits by 16% year-on-year during the second quarter of 2017, according to a bourse statement. Net profits reached AED 226.74 million ($61.7 million) in Q2-17, compared to AED 195.46 million …
Turnover amounted to AED 1.96 million
24 July 09:55 AM ADX opens Monday higher
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a bullish performance in Monday’s early trades. The general index went up 0.08% or 3.51 points to reach 4,538.30 points by 11:00 am UAE time. The energy sector rose 1.26% as Dana …
Traders at Dubai's bourse
24 July 09:44 AM DFM gains 11.15 pts at Monday’s open
Dubai – Mubasher: The Dubai Financial Market (DFM) opened Monday’s trading session in the green zone. The main index added 0.31% or 11.15 points to reach 3,607.56 points by 11:00 am UAE time. The real estate sector gained 0.61% as Emaar …
Al Mazaya Holding's profits reached KWD 2.26 million ($7.46 million) in Q2-17
24 July 09:15 AM Al Mazaya Holding posts lower profits in Q2
Mubasher: Al Mazaya Holding, listed on Kuwait's and Dubai’s bourses, posted a 0.88% year-on-year decline in its profits during the second quarter of 2017, according to a statement. Profits reached KWD 2.26 million ($7.46 million) in Q2-17, …
The housing sector amounted for a large portion of the funds granted to Egypt
23 July 10:58 PM ADFD provided AED4bn for 64 projects in Egypt
Abu Dhabi - Mubasher: Abu Dhabi Fund for Development (ADFD) has supported Egypt with grants and loans worth AED 4 billion across 64 development projects, according to a press release. The projects spanned diverse sectors, most notably transport, …
Malaysia, Saudi Arabia, UAE, and Indonesia dominate 86% of the outstanding Sukuk
23 July 06:10 PM Sukuk issuances up 44% to $88bn in 2016 - IIFM
Mubasher: Global Sukuk issuances grew by 44% last year to $88 billion, compared to $61 billion in 2015, according to the 6th annual Sukuk Report issued by the International Islamic Financial Market (IIFM). The research report noted that currently …
Profits fell to KWD 828,500 ($2.7 million) in Q2-17, from KWD 2.5 million ($8.3 million) in Q2-16
23 July 05:44 PM National International Holding profits fall 66% in Q2
Kuwait – Mubasher: National International Holding Co on Sunday said that its profits decreased by 66.2% in the second quarter of 2017, compared to the year-ago period. Profits fell to KWD 828,500 ($2.7 million) in Q2-17, from KWD 2.5 million ($8.3 …
ADIB on Sunday posted a 8.7% growth in net profits in the second quarter of 2017
23 July 04:56 PM ADIB quarterly profits rise 8.7%
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) on Sunday posted a 8.7% growth in net profits in the second quarter of 2017, according to a statement. The bank’s net profit amounted to AED 551.6 million ($150.14 million) in Q2-17 from AED …
Deyaar forecast that the completion ratio in the two districts may increase between 15% and 20% by the end of 2017
23 July 04:32 PM Belhasa Construction wins AED 600m deal from Deyaar
Dubai – Mubasher: Deyaar Development signed an AED 600 million contract with Belhasa Construction to be the main contractor and operator of construction processes of the Afnan and Dania districts in the Midtown project, according to a statement. …
National Bank of Umm Al Qaiwain (NBQ) on Sunday reported a 3.4% drop in net profit in the second quarter of 2017
23 July 04:08 PM NBQ Q2 profits decline 3.4%
Abu Dhabi – Mubasher: National Bank of Umm Al Qaiwain (NBQ) on Sunday reported a 3.4% drop in net profits for the second quarter of 2017, according to a bourse filing. The bank’s net profits amounted to AED 87.19 million ($23.7 million) in Q2-17 …
The emirate's economy is projected to grow by 3.1% in 2017
23 July 03:50 PM Dubai economy to grow by 3.6% next year - Official
Dubai - Mubasher: Sheikh Ahmed bin Saeed Al Maktoum, second deputy chairman of Dubai’s executive council and chairman of the economic development committee, said that Dubai’s economy is expected to expand further over the next two years. According …
Exports of Dubai Chamber members rise 6% in H1-17
23 July 03:47 PM Exports of Dubai Chamber members rise 6% in H1-17
Dubai – Mubasher: The Dubai Chamber of Commerce and Industry on Sunday announced that members’ exports and re-exports increased over 6% in the first half of 2017, according to a press release. The value of exports and re-exports reached AED 146.7 …
The market’s liquidity amounted to AED 112.42 million
23 July 01:40 PM ADX closes Sunday in red zone
Abu Dhabi – Mubasher: The main index of the Abu Dhabi Securities Exchange (ADX) closed Sunday’s trading session 0.39% or 17.70 points lower at 4,534.79 points. The market’s liquidity amounted to AED 112.42 million after 70.99 million shares were …
Trading volume reached 339.51 million shares through 5,206 transaction, generating AED 402.24 million
23 July 01:17 PM DFM closes Sunday up on higher purchases
Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) ended Sunday in the green zone after increasing 0.64% or 23 points to reach 3,596.41 points, on the back of domestic and foreign investors' purchases. The portfolios …
Burgan Bank considers Cityland Mall an attractive investment
23 July 01:11 PM Burgan Bank seals $94m deal with Cityland Group
Mubasher: Burgan Bank has reached an agreement with Cityland Group Real Estate Development to finance Cityland’s project in Dubai for a total value of $94.2 million. This project will be funded by a consortium of banks to build a …
S&P’s report forecast that Ras Al-Khaimah’s economy will grow about 3% in the coming years
23 July 12:55 PM S&P affirms 'A/A-1' rating of Ras Al-Khaimah
Abu Dhabi – Mubasher: Standard and Poor’s (S&P) has affirmed Ras Al-Khaimah's rating of sovereign issuance by domestic and foreign currencies at "A/A-1" for the long- and short-term, while maintaining its "Stable" future outlook. S&P’s report …
Etisalat's board of directors will discuss the financial results for the period ended June 2017 on 26 July
23 July 11:59 AM UAE's Etisalat to discuss Q2 financials 26 July
Abu Dhabi – Mubasher: Emirates Telecommunications Group (Etisalat) on Sunday reported that its board of directors will discuss the financial results for the period ended June 2017 on 26 July, according to a press release. The group stated that the …