UAE markets 31 Jul 2007

UAE market news & discussions for 31 July 2007 Both markets made up lost ground today as world markets stabilised. The DFM index finished at 4, 273 a gain of 1.10% and the ADSM index finished at 3,480 a gain of 1.47%. Half yearly results were released by the following companies: Dubai investments, H1 2007 803 million dirhams profit an increase of 48% from H1 2006. DU, H1 2007 485 million dirhams revenue , Net loss 496 million dirhams. GULFNAV, H1 2007 47 million dirham profit an increase of 310% from H1 2006. TAMWEEL, H1 2007 108 million dirham profit an increase of 118% from H1 2006.

• DU 2007 H1 loss AED -497m -276%, Q2 AED -281m -265%
• 2007 Q2 results for DFM and ADSM companies
• 31 July 2007 UAE business and stock news
• ABNIC: stable outlook & BBB rating from Standard & Poor's - PR 30 Jul 07
• DIC > M'Sharie > Thermostone AED 12m concrete contract - PR 30 Jul 07
• EMAAR - New Year 2008 party in the Burj Dubai - AB 30 Jul 2007
• Al Qudra Real Estate will have Thomson Golf Course in Al Ain - PR 30 Jul 07
• UAB - may sell stake to Qatar's Commercialbank - R 29 Jul 2007
• DU will launch broadband and mobile TV soon - AB 30 Jul 2007
• DU Call Select - subscribers can use non-DU landlines - PR 26 Jul 2007
• DU Freetime - free credit when making international calls - PR 30 Jul 2007
• EBI-NBD Emirates NBD share swap terms and timetable - 31 Jul 2007
• TAIB Bank to sell 37% stake to Dubai Financial - GDN 31 Jul 2007
• DIFX market data distribution to brokers by Amanah xData - PR 30 Jul 2007
• 30 July 2007 UAE business and stock news
• ASMAK 2007 H1 profit AED 1m -116%, Q2 AED -0m -97%
• JULPHAR 2007 H1 profit AED 62m +104%, Q2 profit AED 31m +94%
• TAMWEEL 2007 H1 profit AED 108m -85%, Q2 profit AED 58m -92%
• Stock Picks by Technical Analysis July 2007
• DU will announce its financial statment tomorrow.
• 2007 financial results forecasts - UAE companies list
• SOROUH 2007 H1 profit AED 557m, Q2 profit AED 443m
• Etisalat introduces corporate Greetune service - PR 29 July 2007
• ETISALAT offers money transfer by mobile phone - WAM 27 Jul 2007
• ETISALAT thanked for support to UAE farmers - PR 29 Jul 2007

More UAE stock market news and discussions...

best stock rises symbol price change GLOBAL 11.40 +1.40 +14% EIC 10.90 +0.80 +7.9% NBS 2.97 +0.17 +6.1% QCEM 2.15 +0.12 +5.9% AKIC 1.70 +0.09 +5.6%

worst stock falls symbol price change DRIVE 3.16 -0.28 -8.1% TKFL 5.21 -0.44 -7.8% QTEL 237.10 -12.40 -5% ASCANA 4.04 -0.21 -4.9%

top volume symbol value (AED) price ALDAR 220,023,265 6.84 EMAAR 193,873,829 10.90 DFM 126,445,245 3.00 AIRARABIA 110,291,071 1.11 FGB 89,244,800 14.75

Dubai Financial Market

the DFM index finished trading today at 4,273 a gain of 1.10% from the previous close. 215 million shares traded worth 673 million dirhams. Seventeen shares advanced and one declined.
AIRARABIA continues to top trading finishing at 1.11 dirhams a gain of 1.83% with 99 million shares traded.

Other shares to advance included DFM 3.00 (1.01%), Emaar Properties PJSC (EMAAR) 10.90 (1.86%), Dubai Islamic Bank (DIB) 9.94 (1.84%) and Emirates Integrated Telecommunications Company (DU) 5.05 (0.79%).

Only one share declined ASCANA 4.04 (4.94%).

Abu Dhabi Securities Market

The ADSM index finished the trading day at 3,480 a rise of 1.47% from the previous close. 153 million shares traded worth 639 million dirhams. Thirty one shares advanced and three declined.
Aldar Properties PJSC (ALDAR) topped the trading finishing at 6.84 dirhams a gain of 4.27% with 32 million shares traded.

Other shares to advance included ABAR 3.69 (3.36%), Dana Gas PJSC (DANA) 1.60 (1.91%), Oasis International Leasing Company PJSC (OILC) 1.49 (2.05%), SIB 2.97 (6.07%), Sorouh Real Estate (SOROUH) 4.54 (4.17%) and ARKAN 1.63 (3.16%).

Shares to decline included TKFL 5.21 (7.79%), DRIVE 3.16 (8.14%) and Qatar Telecom (QTEL) 237.10 (4.97%) all on small volumes

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UAE markets 30 Jul 2007

UAE market news & discussions for 30 July 2007 The UAE markets continued to fall today althought the DFM managed a modest recovery towards the end of trading. The DFM index declined a further 0.56% with AIRARABIA continuing to top trading but not getting above the 1.10 dirham price. EMAAR set a new 52 week low of 10.50 dirhams but recovered to close at 10.70. The ADSM fell a sharp 2.76% with major stocks falling on significant volumes.

• SOROUH 2007 H1 profit AED 557m, Q2 profit AED 443m
• 2007 Q2 results for DFM and ADSM companies
• Etisalat introduces corporate Greetune service - PR 29 July 2007
• ETISALAT offers money transfer by mobile phone - WAM 27 Jul 2007
• ETISALAT thanked for support to UAE farmers - PR 29 Jul 2007
• ALDAR - Al Raha Beach reaches first safety milestone - PR 28 Jul 2007
• Protiviti Member Firm (Middle East) Ltd
• Tabarak Partners LLP
• EMAAR - The Economic City power grid MoU with Siemens - PR 29 Jul 07
• DFM - foreigners buy AED 640m shares in 4th week of Jul 07 - 29 Jul 07
• AOIC agreement with TAMWEEL to offer home protection - PR 29 Jul 2007
• ADCB, Burooj (ADIB), OEIHC take stakes in Al Barari project 29 Jul 07
• TAMWEEL Residential 'A' notes rated AA by Fitch - PR 29 Jul 2007
• DIC >> Glass LLC to establish AED 73m glass facility in Qatar - 29 Jul 07
• UAB - may sell stake to Qatar's Commercialbank - R 29 Jul 2007
• AABAR general assembly meeting 19 Aug 2007 - Dalma sale?
• AABAR sells Dalma oil rig unit to GulfCap for AED 1.6 bn - 29 Jul 07
• 30 July 2007 UAE business and stock news
• DIB 2007 H1 profit AED 1.5 bn +112%, Q2 profit +300%
• 29 July 2007 UAE financial and stock news
• ARTC 2007 H1 profit AED 173m +53%, Q2 AED 113m +48%
• GRAND Real Estate BOD meeting 23 Jul 2007
• RAKCC 2007 profit Q2 AED 14m -56%, H1 AED 42m -39% from 2006
• TAIB Bank ratings affirmed as BBB- by CI - PR 23 Jul 2007
• NBAD UAE Islamic Fund Al Naeem beats benchmark by 2.3% - PR 23 Jul 07

More UAE stock market news and discussions...

best stock rises symbol price change IFA 11.50 +1.50 +15% ABNIC 8.67 +0.78 +9.9% DRIVE 3.44 +0.18 +5.5% QTEL 249.50 +9.50 +4% SOROUH 4.32 +0.12 +2.9%

worst stock falls symbol price change UAB 6.77 -0.63 -8.5% NBAD 18.85 -1.10 -5.5% RAKBANK 7.00 -0.40 -5.4% ALDAR 6.56 -0.35 -5.1% OEIHC 18.05 -0.85 -4.5%

top volume symbol value (AED) price EMAAR 311,904,633 10.70 ALDAR 205,161,916 6.56 DIB 126,229,918 9.76 SOROUH 64,569,030 4.32 DFM 63,698,366 2.97

Dubai Financial Market

THE DFM index continued its fall today finishing at 4,226 a decline of 0.56% from the previous close. 170 million shares traded worth 767 million dirhams. Seven shares advanced and twelve declined.
AIRARABIA was the top traded share advancing 0.92% to 1.09 dirhams on turnover of 44 million shares.

Other shares to close higher included DFM 2.97 (0.67%), Dubai Investments PJSC (DIC) 4.61 (1.31%), GULFNAV 1.28 (2.40%) and International Financial Advisors KSCC (IFA) 11.50 (15%) limit up on modest turnover.

Shares to close lower included ARABTEC 5.68 (2.90%), Dubai Islamic Bank (DIB) 9.76 (1.51%), National General Cooling Company PJSC (TABREED) 2.56 (1.15%) and Emaar Properties PJSC (EMAAR) 10.70 (0.92%) reached a new 52 week low of 10.50 on strong turnover.

Abu Dhabi Securities Market

The ADSM index finished sharply lower today at 3,430 a fall of 2.76% from the previous close. 106 million shares traded worth 465 million dirhams. Ten shares advanced and 27 declined.
Aldar Properties PJSC (ALDAR) topped trading declining 5.07% to 6.56 dirhams on turnover of 31 million shares.

Other shares to decline included Abu Dhabi Commercial Bank (ADCB) 6.40 (2.74%), Dana Gas PJSC (DANA) 1.57 (2.48%), First Gulf Bank (FGB) 14.45 (2.03%) and Sorouh Real Estate (SOROUH) 4.32 (1.37%).

Shares to increase included Aabar Petroleum Investments Company PJSC (AABAR) 3.57 (2.00%), Sharjah Cement & Industrial Development Company (SCIDC) 4.32 (2.37%) and Abu Dhabi Ship Building (ADSB) 2.80 (1.82%) all on small volumes.

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UAE markets 29 Jul 2007

UAE market news & discussions for 29 July 2007 The UAE markets followed world markets down today with both indicies declining by more than one per cent. Volumes were subdued but the decline in both markets was broadly based. Dubai Islamic Bank released its H1 2007 results with a headline profit increase of 113% compared to the same perid last year. However the shares ended down 1.39% at 9.91 dirhams.

• DIB 2007 H1 profit AED 1.5 bn +112%, Q2 profit +300%
• 29 July 2007 UAE financial and stock news
• 2007 Q2 results for DFM and ADSM companies
• ARTC 2007 H1 profit AED 173m +53%, Q2 AED 113m +48%
• GRAND Real Estate BOD meeting 23 Jul 2007
• RAKCC 2007 profit Q2 AED 14m -56%, H1 AED 42m -39% from 2006
• TAIB Bank ratings affirmed as BBB- by CI - PR 23 Jul 2007
• NBAD UAE Islamic Fund Al Naeem beats benchmark by 2.3% - PR 23 Jul 07
• NBAD BOD meeting to consider AED 2 bn convertible bonds - 23 Jul 2007
• TAQA creates new Treasury Department and job - PR 23 Jul 07
• AABAR pulls out of AED 1.3 bn bid for Encore Ltd - 24 Jul 2007
• AABAR BOD meeting 22 Jul 07 - name change, convertible sukuk
• AABAR to sell Dalma subsidiary ... 04 Jul 07
• ADCB plans Islamic bank & branches in foreign markets - R 22 Jul 07
• ADCB says no NBAD merger, looking at other banks - R 22 Jul 2007
• EBI-NBD merger good for industry says Moody's - R 19 Jul 07
• DEYAAR - India JV partner's licence cancelled, no problem - KT 19 Jul 07
• ALDAR - Al Gurm construction contract to Six Construct PR 18 Jul 2007
• AABAR announces resignation of Pearl CEO Keith Cameron PR 19 Jul 2007
• TAMWEEL Residential ABS CI Sukuk ratings from Moody's - PR 26 Jul 07
• TAMWEEL - AED 771m Class A bonds closed - PR 26 Jul 2007
• TAMWEEL - AED 771m Class A bonds pricing well - PR 19 Jul 2007
• ADCB 2007 FY profit forecasts from -16% to +30% on 2006 FY
• ADCB 2007 profit Q2 AED 506m -12%, H1 AED 976m -19% from 2006
• ADCB research report from HC Securities [HOLD] - 17 Jul 2007

More UAE stock market news and discussions...

best stock rises symbol price change ABNIC 7.89 +0.69 +9.6% NCTH 4.54 +0.35 +8.4% DRIVE 3.26 +0.25 +8.3% UNION 2.39 +0.10 +4.4% AKIC 1.61 +0.04 +2.5%

worst stock falls symbol price change RAKCC 2.24 -0.13 -5.5% QTEL 240.00 -13.00 -5.1% ALDAR 6.91 -0.37 -5.1% ARMX 2.53 -0.13 -4.9% TAMWEEL 4.09 -0.21 -4.9%

top volume symbol value (AED) price EMAAR 276,556,467 10.80 ALDAR 119,942,679 6.91 DFM 112,590,072 2.95 DIB 86,721,159 9.91 AIRARABIA 86,167,171 1.08

Dubai Financial Market

The DFM finished the day at 4,250 a fall of 1.89% from the previous close. 227 million shares traded worth 789 million dirhams. Nineteen shares declined and none advanced.
AIRARABIA continued to be the top traded share falling 1.81% to 1.08 dirhams on turnover of 79 million shares.

Other shares to decline based on the highest volume traded included DFM 2.95 (1.81%), Emaar Properties PJSC (EMAAR) 10.80 (3.13%), Dubai Islamic Bank (DIB) 9.91 (1.39%), GULFNAV 1.25 (1.57%), ARAMEX 2.53 (4.88%) and Tamweel PJSC (TAMWEEL) 4.09 (4.88%).

Abu Dhabi Securities Market

The ADSM finished the day at 3,527 a fall of 1.32% drom the previous close. 84 million shares traded worth 286 million dirhams. Eight shares advanced and twenty eight declined.
Oasis International Leasing Company PJSC (OILC) was the top traded share falling 0.68% to 1.46 on turnover of 19 million shares.

Other shares to decline included Aldar Properties PJSC (ALDAR) 6.91 (5%), ARKAN 1.61 (1.83%), Dana Gas PJSC (DANA) 1.61 (2.42%), Ras Al Khaimah Cement Company (RAKCC) 2.24 (5.49%) and Ras Al Khaimah Properties PJSC (RAKPROP) 1.57 (2.48%).

Share to rise on the day included Invest Bank (INVESTB) 2.90 (2.11%), DRIVE 3.26 (8.31%) and both ABNIC 7.89 (9.58%) and NCTH 4.54 (8.35%) on one trade.

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• Discuss UAE companies at Dubai Share Talk.

UAE markets 26 Jul 2007

UAE market news & discussions for 26 July 2007 The end of an unimpressive week on the UAE markets with the DFM creeping up a little today while ADSM dropped another half a percent. Tabreed National Cooling released Q2 results today with almost no growth in profits, leaving their shares looking about 3 times more expensive than the market average. Results for Abu Dhabi National Company for Building Materials showed profits decreasing substantially from increasing costs despite revenue growth, leaving their shares looking not as expensive as Tabreed's but still above the market average. Fujairah Trade Center and Emirates Driving Company also released second quarter results. Perhaps it wasn't the day for good results, ExxonMobil surprised analysts today with a slight drop in profits despite higher oil prices. But before you feel too sorry for them, they still made $10.3 billion profit for the quarter. Which is more than the total profits for all listed UAE companies last year. The whole year.

• BILDCO 2007 H1 profit AED 30m -50%, Q2 profit AED 16m -37%
• FTC 2007 H1 profit AED 0.7m -97%, Q2 profit AED 0.4m -98%
• TABREED 2007 H1 profit AED 52m +15% (before Minority Interests)
• 2007 Q2 results for DFM and ADSM companies
• 26 July 2007 UAE business and stock news
• More UAE stock market news and discussions...

best stock rises symbol price change UNION 2.29 +0.15 +7% ARIG 3.08 +0.18 +6.2% RAKCC 2.37 +0.10 +4.4% QTEL 253.00 +8.00 +3.3% UNB 7.78 +0.23 +3%

worst stock falls symbol price change ABNIC 7.20 -0.79 -9.9% RAKCEC 4.75 -0.25 -5% FH 7.60 -0.30 -3.8% INVESTB 2.84 -0.10 -3.4% ALDAR 7.28 -0.22 -2.9%

top volume symbol value (AED) price ALDAR 80,093,537 7.28 AIRARABIA 73,138,972 1.10 EMAAR 67,652,392 11.15 RAKCC 50,488,034 2.37 DIB 23,526,883 10.05

Dubai Financial Market

The DFM had a small recovery from a mostly gloomy week but on thin traded value of 280m dhs from 114m shares. The index was up by 0.24% to 4332.

AIRARABIA continues to dominate trading by volume, and today by value with 73m dhs worth but price unchanged at 1.10 dhs. Emaar Properties PJSC (EMAAR) was in second spot on traded value with 68m dhs and price also unchanged at 11.15.

The only noteworthy rise was 2.2% to 26.05 for AMAN while most other actively traded stocks rose by less than 1%. Arab Insurance Group (ARIG) jumped on just 2 small trades.

There were just four losers, all down by about 1% or less - GGICO, GULFNAV, Amlak Finance Company (AMLAK), and Arabtec Holding PJSC (ARTC).

Abu Dhabi Securities Market

ADSM slumped yet again today with a 0.45% decrease to 3574 from a moderately thin 250m dhs worth of trading.

A storming day for Ras Al Khaimah Cement Company (RAKCC) however, with a 4.4% increase to 2.33 from a very robust 50m dhs worth of trading and 21m shares putting it at the top of the volume list. Other increases on reasonable volumes for Union National Bank (UNB) up 3.1%, and Gulf Cement Company (GCEM) up 1.3%.

Aldar Properties PJSC (ALDAR) saw the highest traded value, falling by 2.9% to 7.26 from 80m dhs worth. Oasis International Leasing Company PJSC (OILC) less hectic than previous days and a 0.7% fall to 1.47. Sharjah Cement & Industrial Development Company (SCIDC), and Abu Dhabi Commercial Bank (ADCB) fell about 2% from reasonable volumes. Aabar Petroleum Investments Company PJSC (AABAR), Ras Al Khaimah White Cement Company (RAKWCT), Dana Gas PJSC (DANA), ARKAN, National Bank of Abu Dhabi (NBAD) and Abu Dhabi National Energy Company (TAQA) all fell 1-1.5%.

• Comment on this report and view previous reports on the Share Wadi blog.
• Discuss UAE companies at Dubai Share Talk.

UAE markets 25 Jul 2007

UAE market news & discussions for 25 July 2007 Today the markets headed in opposite directions with the DFM down 0.57% and the ADSM up 0.31%. Share trading volumes remain subdued. The top traded share on DFM was AIRARABIA rising 0.91% to 1.10 as investors considered its positive H1 results. The top traded share on the ADSM was RAKCEC rising 6.57% to 2.27. Other RAK stocks also did well.

• 2007 Q2 results for DFM and ADSM companies
• 25 July 2007 UAE financial and stockmarket news
• DU will announce its financial statment tomorrow.
• 24 July 2007 UAE financial and stockmarket news
• 23 July 2007 UAE financial and stock news
• Ajwaa - new Bahrain airline ... or not?
• Credit Suisse says Gulf markets cheapest worldwide - 20 Jul 07
• GFH completes $200m Sukuk issue - 21 Jul 2007
• Burj Dubai tallest building in the world - almost - 21 July 2007
• WARE / AGLTY awarded AED 1.27 bn US Army contract - 21 Jul 2007
• GRAND 2006 FY profit AED 154m -5.7% from 2005 - 01 Feb 2007
• 22 July 2007 UAE business and sharemarket news
• Too much money to spend? $28 trillion looking for a home by 2022
• Facing the Hard Truths About Energy - Global Oil and Gas to 2030
• 21 July 2007 UAE financial and stockmarket news
• RAK Petroleum - Jebel Hafit results in Sep, strategy review in Q3
• EFG Hermes vs. Mubasher
• 20 July 2007 UAE financial and stockmarket news
• UIC 2007 profit Q2 AED 10.6m +282%, H1 AED 16.4m 341% from 2006
• QTEL 2007 Q2 earnings 06 Aug, conference call 07 Aug 2007
• OILC BOD meeting 17 Jul 07 - resignation of Hajri and McBeth
• RAKCC 2007 profit Q2 AED 14m -56%, H1 AED 42m -39% from 2006
• RAKPROP signs up Hilton to run Mina Al Arab Resort - PR 17 Jul 2007
• RAKPROP 2007 profit Q2 AED 172m -37%, H1 AED 276m -23% from 2006
• BAYAN share buyback

More UAE stock market news and discussions...

best stock rises symbol price change RAKCEC 5.00 +0.43 +9.4% UAB 7.40 +0.49 +7.1% RAKCC 2.27 +0.14 +6.6% INVESTB 2.94 +0.15 +5.4% RAKWCT 2.20 +0.09 +4.3%

worst stock falls symbol price change NCTH 4.19 -0.31 -6.9% UNION 2.14 -0.11 -4.9% UNB 7.55 -0.30 -3.8% AKIC 1.57 -0.06 -3.7% GLOBAL 10.50 -0.40 -3.7%

top volume symbol value (AED) price AIRARABIA 133,376,234 1.10 ALDAR 126,953,819 7.50 EMAAR 89,352,265 11.15 GULFNAV 47,505,603 1.28 RAKCC 43,678,974 2.27

Dubai Financial Market

The DFM gave up most of its gains from yesterday falling 0.57% to 4,322. 199 million shares traded worth 405 million dirhams. Two shares advanced and seventeen declined.
The top traded share was AIRARABIA climbing 0.91% to 1.10 dirhams on a turnover of 121 million shares.

The other share to advance was Shuaa Capital PJSC (SHUAA) 4.98 (0.60%).

Shares to fall on the day included GULFNAV 1.28 (2.29%), DFM 3.07 (1.91%), Emaar Properties PJSC (EMAAR) 11.15 (0.44%), Dubai Investments PJSC (DIC) 4.63 (0.85%) and Amlak Finance Company (AMLAK) 3.35 (0.88%).

Abu Dhabi Securities Market

The ADSM rose today finishing at 3,590 or 0.31% above yesterdays close. 119 million share traded worth 414 million dirhams. Twenty three shares advanced and fourteen declined.
The top traded share was Ras Al Khaimah Ceramics (RAKCEC) rising 6.57% to 2.27 on a turnover of 19 million shares.

Other shares to advance included Oasis International Leasing Company PJSC (OILC) 1.48 (0.68%), UAB 7.40 (7.09%), Ras Al Khaimah White Cement Company (RAKWCT) 2.20 (4.27%) and Ras Al Khaimah Properties PJSC (RAKPROP) 1.61 (1.26%).

Shares to decline included Aldar Properties PJSC (ALDAR) 7.50 (0.27%), Union National Bank (UNB) 7.55 (3.82%) and Abu Dhabi Commercial Bank (ADCB) 6.92 (0.29%)

• Comment on this report and view previous reports on the Share Wadi blog.
• Discuss UAE companies at Dubai Share Talk.

UAE markets 24 Jul 2007

UAE market news & discussions for 24 July 2007 Both UAE markets rose today by more than half of one per cent breaking a five day losing streak. On the DFM, AIRARABIA continued to be the top traded share rising 2.83% to 1.09 dirhams. On the ADSM, the top traded share was OILC rising 2.80% to 1.47 dirhams. All UAE banks have now reported H1 2007 profits. With the exception of ADCB all of them have recorded strong growth in profits based on growth in core banking income. This indicates profits are more broadly based than just relying on the stock market.

• DU will announce its financial statment tomorrow.
• 2007 Q2 results for DFM and ADSM companies
• 24 July 2007 UAE financial and stockmarket news
• 23 July 2007 UAE financial and stock news
• Ajwaa - new Bahrain airline ... or not?
• Credit Suisse says Gulf markets cheapest worldwide - 20 Jul 07
• GFH completes $200m Sukuk issue - 21 Jul 2007
• Burj Dubai tallest building in the world - almost - 21 July 2007
• WARE / AGLTY awarded AED 1.27 bn US Army contract - 21 Jul 2007
• GRAND 2006 FY profit AED 154m -5.7% from 2005 - 01 Feb 2007
• 22 July 2007 UAE business and sharemarket news
• Too much money to spend? $28 trillion looking for a home by 2022
• Facing the Hard Truths About Energy - Global Oil and Gas to 2030
• 21 July 2007 UAE financial and stockmarket news
• RAK Petroleum - Jebel Hafit results in Sep, strategy review in Q3
• EFG Hermes vs. Mubasher
• 20 July 2007 UAE financial and stockmarket news
• UIC 2007 profit Q2 AED 10.6m +282%, H1 AED 16.4m 341% from 2006
• QTEL 2007 Q2 earnings 06 Aug, conference call 07 Aug 2007
• OILC BOD meeting 17 Jul 07 - resignation of Hajri and McBeth
• RAKCC 2007 profit Q2 AED 14m -56%, H1 AED 42m -39% from 2006
• RAKPROP signs up Hilton to run Mina Al Arab Resort - PR 17 Jul 2007
• RAKPROP 2007 profit Q2 AED 172m -37%, H1 AED 276m -23% from 2006
• BAYAN share buyback
• Which is the Next IPO to hit DFM / ADSM?

More UAE stock market news and discussions...

best stock rises symbol price change ABNIC 7.99 +0.47 +6.3% SCIDC 4.50 +0.26 +6.1% ADSB 2.75 +0.13 +5% GULFNAV 1.31 +0.05 +4% AMAN 26.00 +0.90 +3.6%

worst stock falls symbol price change RAKCEC 4.57 -0.46 -9.1% NMDC 4.30 -0.37 -7.9% INVESTB 2.79 -0.15 -5.1% UAB 6.91 -0.19 -2.7% CBD 8.20 -0.10 -1.2%

top volume symbol value (AED) price AIRARABIA 98,088,184 1.09 DFM 96,446,412 3.13 EMAAR 81,814,113 11.20 ALDAR 80,822,782 7.52 OILC 65,551,448 1.47

Dubai Financial Market

The DFM index finished higher today at 4,346 an increase of 0.93% from yesterdays close. 176 million shares traded worth 419 million dirhams. Twenty shares advanced and two declined.
AIRARABIA continues to be the top traded share rising 2.83% to 1.09 dirhams.

Other shares to rise included DFM 3.13 (2.96%), GULFNAV 1.31 (3.96%), Tamweel PJSC (TAMWEEL) 4.35 (3.08%) and ARABTEC 5.98 (2.04%).

Shares that declined included Commercial Bank of Dubai (CBD) 8.20 (0.10%) and Emirates Bank International Group (EBI) 9.15 (0.54%).

Abu Dhabi Securities Market

The ADSM index finished higher today at 3,579 an increase of 0.68% from yesterdays close. 131 million shares traded worth 326 million dirhams. Twenty three shares advanced and 10 declined.
Oasis International Leasing Company PJSC (OILC) continues to be the top traded share rising 2.80% to 1.59 dirhams.

Other shares to rise included ABAR 3.64 (2.54%), Aldar Properties PJSC (ALDAR) 7.52 (1.90%), ARKAN 1.66 (2.47%), Dana Gas PJSC (DANA) 1.66 (3.11%), Oasis International Leasing Company PJSC (OILC) 1.47 (2.80%) and Ras Al Khaimah Properties PJSC (RAKPROP) 1.59 (2.58%).

Shares that declined included Abu Dhabi Commercial Bank (ADCB) 6.94 (0.43%), Commercial Bank International (CBI) 2.18 (0.46%) and Ras Al Khaimah Ceramics (RAKCEC) 4.57 (9.15%).

• Comment on this report and view previous reports on the Share Wadi blog.
• Discuss UAE companies at Dubai Share Talk.

UAE markets 23 Jul 2007

UAE market news & discussions for 23 July 2007 A further down day on UAE markets today with both indicies down more than half of one percent. On the DFM, AIRARABIA topped trading finishing at 1.06 and getting closer to its float price of 1.00 dirham. On the ADSM, OILC dominated trading finishing 2.05% down at 1.43 dirhams.

• 2007 Q2 results for DFM and ADSM companies
• 23 July 2007 UAE financial and stock news
• Ajwaa - new Bahrain airline ... or not?
• Credit Suisse says Gulf markets cheapest worldwide - 20 Jul 07
• GFH completes $200m Sukuk issue - 21 Jul 2007
• Burj Dubai tallest building in the world - almost - 21 July 2007
• WARE / AGLTY awarded AED 1.27 bn US Army contract - 21 Jul 2007
• GRAND 2006 FY profit AED 154m -5.7% from 2005 - 01 Feb 2007
• 22 July 2007 UAE business and sharemarket news
• Too much money to spend? $28 trillion looking for a home by 2022
• Facing the Hard Truths About Energy - Global Oil and Gas to 2030
• 21 July 2007 UAE financial and stockmarket news
• RAK Petroleum - Jebel Hafit results in Sep, strategy review in Q3
• EFG Hermes vs. Mubasher
• 20 July 2007 UAE financial and stockmarket news
• UIC 2007 profit Q2 AED 10.6m +282%, H1 AED 16.4m 341% from 2006
• QTEL 2007 Q2 earnings 06 Aug, conference call 07 Aug 2007
• OILC BOD meeting 17 Jul 07 - resignation of Hajri and McBeth
• RAKCC 2007 profit Q2 AED 14m -56%, H1 AED 42m -39% from 2006
• RAKPROP signs up Hilton to run Mina Al Arab Resort - PR 17 Jul 2007
• RAKPROP 2007 profit Q2 AED 172m -37%, H1 AED 276m -23% from 2006
• BAYAN share buyback
• Which is the Next IPO to hit DFM / ADSM?
• CBI 2007 profit Q2 AED 99m, H1 AED 137m +322%
• EMAAR 2007 profit Q2 AED 1.548 bn +1%, H1 AED 3.267 bn +7%

More UAE stock market news and discussions...

best stock rises symbol price change INVESTB 2.94 +0.19 +6.9% SICO 5.80 +0.30 +5.5% AKIC 1.63 +0.07 +4.5% OEIHC 18.70 +0.60 +3.3% SCIDC 4.24 +0.11 +2.7%

worst stock falls symbol price change QCEM 2.05 -0.20 -8.9% ADSB 2.62 -0.24 -8.4% ARIG 2.90 -0.20 -6.5% RAKCC 2.09 -0.13 -5.9% AAAIC 112.00 -7.00 -5.9%

top volume symbol value (AED) price AIRARABIA 97,603,919 1.06 EMAAR 81,774,594 11.10 DFM 72,349,093 3.04 ALDAR 50,973,454 7.38 OILC 50,039,190 1.43

Dubai Financial Market

the DFM index finished continued its downward trend finishing at 4,306 a fall of 0.50%. 162 million shares traded worth 391 million dirhams. Four shares advanced and eleven declined.
AIRARABIA continues to be the top traded stock finishing at 1.06 dirhams a fall of 0.93%.

Other shares to decline included DFM 3.04 (2.56%), Emaar Properties PJSC (EMAAR) 11.10 (0.89%) and GULFNAV 1.26 (0.78%).

Shares that rose included Emirates Integrated Telecommunications Company (DU) 5.01 (0.20%), Dubai Islamic Bank (DIB) 9.96 (0.10%) and Islamic Arab Insurance Company PSC (IAIC) 3.23 (0.62%).

Abu Dhabi Securities Market

The ADSM finished at 3,555 a fall of 0.83%. 85 million shares traded worth 216 milion dirhams. Eleven shares advanced and twenty nine declined.
Oasis International Leasing Company PJSC (OILC) was the top traded share finishing at 1.43 a fall of 2.05%

Other shares to decline included Aldar Properties PJSC (ALDAR) 7.38 (2.51%), Dana Gas PJSC (DANA) 1.61 (1.83%), ARKAN 1.62 (1.82%) and Ras Al Khaimah Cement Company (RAKCC) 2.09 (5.00%).

Shares that rose included Invest Bank (INVESTB) 2.94 (6.91%), SICO 5.80 (5.45%) and AKIC 1.63 (4.49%).

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UAE markets 22 Jul 2007

UAE market news & discussions for 22 July 2007 Another quiet summer days trading on both UAE markets today. Both markets fell just over half of one percent on light volume of shares traded. The DFM announced that foreign investors comprised 32% of all shares traded for the third week of July. Institutional investors made up 27.98% of all trades for the same period. EMAAR announced the Burj Dubai has become the highest building in the world unlike the share price.

• Ajwaa - new Bahrain airline ... or not?
• Credit Suisse says Gulf markets cheapest worldwide - 20 Jul 07
• GFH completes $200m Sukuk issue - 21 Jul 2007
• Burj Dubai tallest building in the world - almost - 21 July 2007
• WARE / AGLTY awarded AED 1.27 bn US Army contract - 21 Jul 2007
• GRAND 2006 FY profit AED 154m -5.7% from 2005 - 01 Feb 2007
• 2007 Q2 results for DFM and ADSM companies
• 22 July 2007 UAE business and sharemarket news
• Too much money to spend? $28 trillion looking for a home by 2022
• Facing the Hard Truths About Energy - Global Oil and Gas to 2030
• 21 July 2007 UAE financial and stockmarket news
• RAK Petroleum - Jebel Hafit results in Sep, strategy review in Q3
• EFG Hermes vs. Mubasher
• 20 July 2007 UAE financial and stockmarket news
• UIC 2007 profit Q2 AED 10.6m +282%, H1 AED 16.4m 341% from 2006
• QTEL 2007 Q2 earnings 06 Aug, conference call 07 Aug 2007
• OILC BOD meeting 17 Jul 07 - resignation of Hajri and McBeth
• RAKCC 2007 profit Q2 AED 14m -56%, H1 AED 42m -39% from 2006
• RAKPROP signs up Hilton to run Mina Al Arab Resort - PR 17 Jul 2007
• RAKPROP 2007 profit Q2 AED 172m -37%, H1 AED 276m -23% from 2006
• BAYAN share buyback
• Which is the Next IPO to hit DFM / ADSM?
• CBI 2007 profit Q2 AED 99m, H1 AED 137m +322%
• EMAAR 2007 profit Q2 AED 1.548 bn +1%, H1 AED 3.267 bn +7%
• EMAAR (doesn't) clarify Dubai Holding deal? 16 May 2007

More UAE stock market news and discussions...

best stock rises symbol price change MAZAYA 7.00 +0.61 +9.5% UNION 2.26 +0.10 +4.6% ARIG 3.10 +0.05 +1.6% TKFL 5.59 +0.09 +1.6% ADSB 2.86 +0.03 +1.1%

worst stock falls symbol price change ADNIC 8.31 -0.69 -7.7% FOODCO 4.17 -0.34 -7.5% ABNIC 7.50 -0.49 -6.1% AMAN 25.05 -1.35 -5.1% JULPHAR 1.94 -0.10 -4.9%

top volume symbol value (AED) price EMAAR 111,568,396 11.20 AIRARABIA 70,068,103 1.07 DFM 59,385,743 3.12 ALDAR 43,948,509 7.57 OILC 34,374,933 1.46

Dubai Financial Market

The DFM index finished trading at 4,328 a fall of 0.66% from the previous close. 133 million shares traded worth 364 million dirhams. Two shares advanced and eighteen declined.
The top traded share was AIRARABIA declining 2.72% to 1.07.

Other shares to decline included DFM 3.12 (0.95%), Emaar Properties PJSC (EMAAR) 11.20 (0.44%) and GULFNAV 1.27 (3.05%).

Shares that rose on the day were MAZAYA 7.00 (9.54%) and Arab Insurance Group (ARIG) 3.10 (1.63%) both on one trade only.

Abu Dhabi Securities Market

The ADSM index finished trading at 3,585 a fall of 0.56% from the previous close. 75 million shares traded worth 207 million dirhams. Eleven shares advanced and twenty four declined.
Top trader was Oasis International Leasing Company PJSC (OILC) finishing down 2.67% at 1.46.

Other shares to decline included ABAR 3.64 (3.45%), Oasis International Leasing Company PJSC (OILC) 1.46 (2.67%), Ras Al Khaimah Properties PJSC (RAKPROP) 1.57 (3.68%), Abu Dhabi National Energy Company (TAQA) 2.87 (3.04%) and ARKAN 1.65 (2.37%).

Shares to rise included Emirates Telecommunications Company (ETISALAT) 18.60 (0.54%), Union Cement Company (UCC) 5.00 (0.60%) and Sudan Telecom Company Ltd (SUDATEL) 7.87 (0.25%) all on small trading volume.

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• Discuss UAE companies at Dubai Share Talk.

UAE markets 19 Jul 2007

UAE market news & discussions for 19 July 2007 A quiet days trading to finish the week on UAE markets with both indicies finishing slightly lower. On the DFM, EMAAR stopped falling after the disappointing H1 results to finish at 11.25. AIRARABIA continues to dominate trading after its recent float. On the ADSM, OILC 1.50 dominated trading with the share price finishing 2.04% higher. ADCB 7.01 continues to fall as speculation about a merger fades.

• BAYAN share buyback
• 2007 Q2 results for DFM and ADSM companies
• Which is the Next IPO to hit DFM / ADSM?
• CBI 2007 profit Q2 AED 99m, H1 AED 137m +322%
• EMAAR 2007 profit Q2 AED 1.548 bn +1%, H1 AED 3.267 bn +7%
• EMAAR (doesn't) clarify Dubai Holding deal? 16 May 2007
• EMAAR MGF IPO
• EMAAR - 2007 Q2 research from EFG-Hermes 17 July 2007
• 19 July 2007 UAE financial and stockmarket news
• SPH - Sphere Investments - new DIFX listing
• ADCB 2007 profit Q2 AED 506m -12%, H1 AED 976m -19% from 2006
• EFG-Hermes Brokerage discussion and information
• 18 July 2007 UAE financial and stockmarket news
• OILC 2007 profit Q2 AED 33m +186%, H1 AED 61m +149% from 2006
• ARMX - Aramex logistics center launched in Beirut free zone - 18 Jul 07
• Mubasher (DBFS) launches international online trading
• AIRARABIA floats 17 July 2007 - what price?
• Broker for investing in MENA (Middle-East, North-Africa)
• BOS 2007 profit Q2 AED 110m +63%, H1 AED 153m +22% from 2006
• 17 July 2007 UAE financial and stockmarket news
• DIFC to bid for OMX ... again?? - 14 Jul 2007
• TAQA CEO targetting AED 15 bn acquisitions in 12 months - R 17 Jul 07
• DANA Gas announces launch of $1 bn Convertible Sukuk - 16 Jul 07
• ETISALAT - Atlantique subsidiary to be shut down in Benin - 09 Jul 2007
• AGTHIA to sell Mother Parkers Tea & Coffee products in UAE - 16 Jul 2007

More UAE stock market news and discussions...

best stock rises symbol price change SICO 5.00 +0.30 +6.4% NMDC 4.67 +0.26 +5.9% JULPHAR 2.04 +0.07 +3.6% FOODCO 4.51 +0.12 +2.7% CBI 2.23 +0.05 +2.3%

worst stock falls symbol price change MAZAYA 6.39 -1.11 -14.8% EIC 10.00 -1.10 -9.9% AKIC 1.59 -0.08 -4.8% NCC 11.00 -0.55 -4.8% RAKCC 2.27 -0.09 -3.8%

top volume symbol value (AED) price EMAAR 132,379,727 11.25 OILC 116,866,991 1.50 AIRARABIA 86,980,651 1.10 DFM 75,604,376 3.15 ALDAR 59,572,103 7.69

Dubai Financial Market

The DFM index finished today at 4,537 a fall of 0.07%. 170 million shares traded worth 470 million dirhams. Ten shares advanced and ten shares declined. AIRARABIA continues to top the trading with 78 million shares changing hands and the share price finishing 0.90% down at 1.10 dirhams.

Shares that closed higher included Amlak Finance Company (AMLAK) 3.47 (1.16%), DFM 3.15 (0.31%), National Bank of Dubai (NBD) 9.01 (1.23%) and UNION 3.29 (0.92%).

Shares that finshed lower included GULFNAV 1.31 (0.75%), Shuaa Capital PJSC (SHUAA) 4.90 (0.80%) and MAZAYA 6.39 (14.80%) on one trade.

Abu Dhabi Securities Market

The ADSM index finished higher today at 3,605 a fall of 0.40%. 176 million shaes traded worth 449 million dirhams. Thirteen shares advanced and nineteen declined.
Oasis International Leasing Company PJSC (OILC) dominated trading with 77 million shares changing hands and the share price finishing up 2.04% at 1.50 dirhams.

Shares that closed higher included ABAR 3.77 (1.63%), Commercial Bank International (CBI) 2.23 (2.29%), SICO 5.00 (6.38%).

Shares that finished lower included Abu Dhabi Commercial Bank (ADCB) 7.01 (2.64%), Aldar Properties PJSC (ALDAR) 7.69 (1.66%), AKCC 2.27 (3.81%), Abu Dhabi National Energy Company (TAQA) 2.96 (1.33%).

• Comment on this report and view previous reports on the Share Wadi blog.
• Discuss UAE companies at Dubai Share Talk.

UAE markets 18 Jul 2007

UAE market news & discussions for 18 July 2007 Another glum day on the markets with DFM and ADSM indices heading south by almost 1.5%. DIFX scored another new listing today - Sphere Investments of Australia. Activity was less frenetic than Air Arabia's listing on DFM yesterday, with no shares traded in SPH. Oasis Leasing released first half results with an impressive 149% jump in profit to AED 61m. Other Q2 results released today from Commercial Bank International and United Insurance Company.

• 18 July 2007 UAE financial and stockmarket news
• 2007 Q2 results for DFM and ADSM companies
• ADCB 2007 profit Q2 AED 506m -12%, H1 AED 976m -19% from 2006
• AIRARABIA floats 17 July 2007 - what price?
• ARMX - Aramex logistics center launched in Beirut free zone - 18 Jul 07
• BOS 2007 profit Q2 AED 110m +63%, H1 AED 153m +22% from 2006
• EFG-Hermes Brokerage discussion and information
• EMAAR (doesn't) clarify Dubai Holding deal? 16 May 2007
• OILC 2007 profit Q2 AED 33m +186%, H1 AED 61m +149% from 2006
• SPH - Sphere Investments
• 17 July 2007 UAE financial and stockmarket news

More UAE stock market news and discussions...

best stock rises symbol price change UNION 2.10 +0.11 +5.5% AKIC 1.67 +0.04 +2.5% INVESTB 2.76 +0.06 +2.2% SICO 4.70 +0.10 +2.2% FH 7.89 +0.16 +2.1%

worst stock falls symbol price change NMDC 4.41 -0.40 -8.3% ASMAK 6.31 -0.55 -8% NCTH 4.70 -0.27 -5.4% ADSB 2.83 -0.14 -4.7% NCC 11.55 -0.45 -3.8%

top volume symbol value (AED) price EMAAR 345,814,848 11.25 AIRARABIA 156,171,725 1.11 TAQA 81,133,667 3.00 DIB 63,747,909 10.05 OILC 62,401,968 1.47

Dubai Financial Market

The DFMGI kicked off trading at about 4420 and fell steadily to about 4350 by lunchtime. The index hovered around that level for the remainder of the day, ending down by 1.34% to 4360 with moderate traded value of 824m dhs from 264m shares.

There was a very short list of zero gainers on DFM today.

Near the bottom of the loser's list were DFM down by 2.8% to 3.14, Emaar Properties PJSC (EMAAR) down 2.6% to 11.25, Amlak Finance Company (AMLAK) down 2.6% to 3.43, and Islamic Arab Insurance Company PSC (IAIC) down 3.2% to 2.4. AIRARABIA volumes were down to 140m shares - less than a quarter of yesterday's volume, share price was flat at 1.11.

Abu Dhabi Securities Market

The ADSM lost an unpleasant 1.5% to close at 3620 from moderate traded value of 410m dhs and volume of 154m shares.

Almost all the normally active stocks fell, with Sudan Telecom Company Ltd (SUDATEL) up by a marginal 0.1% the only exception. Other rises from infrequently traded stocks of 0.3% for UAB with several large trades going through, SICO up 2.2% also with some big trades, Bank Of Sharjah (BOS) up 1.2%, Finance House PJSC (FH) up 2.1%, and Invest Bank (INVESTB) up 2.2% from a handful of small trades after announcing positive Q2 results yesterday.

The worst of the losers on more than trivial volumes were Ras Al Khaimah Properties PJSC (RAKPROP) down 3.5% to 1.63, Aabar Petroleum Investments Company PJSC (AABAR) down 3.1%, and Oasis International Leasing Company PJSC (OILC) down 2.7% despite encouraging results today. Emirates Telecommunications Company (ETISALAT) dropped by 2.4% to 18.40. Abu Dhabi National Energy Company (TAQA) was the most heavily traded stock with 27m shares changing hands or 81m dhs worth, and a fall of 1.6% to 2.95.

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• Discuss UAE companies at Dubai Share Talk.