TAQA AABAR DANA up 28 Feb 2007

UAE market news & discussions for 28 February 2007 EMAAR - ABN-AMRO launches MINI Futures on Swiss exchange - PR 28 Feb 07 Golden Gate Securities discussion [ban by ESCA 02 Jan 2007] OILC - Erik Dahmen appointed as Senior Marketing Director - PR 28 Feb 2007 TAQA to sell AED33 bn worth of bonds for funding - BB 27 Feb 2007 ADIB EGM approves AED 1.5 bn convertible bonds for EIIC - ET 27 Feb 2007 NBAD launches £350m Fixed Rate Notes under EMTN program PR 27 Feb 2007 NBAD launches $850m Fixed Rate Notes under EMTN program KT 28 Feb 2007 SOROUH - Tameer signs AED 100m contract with Gensler - PR 28 Feb 2007 SOROUH AED 2 bn Sky Tower contract not to Arabtec - 21 Jan 2007 UPP - to borrow AED 6 bn to set up Formula 1 theme parks - BB 27 Feb 2007 ADAVIATION 2006 FY results AED 51m profit -48% from 2005 - 22 Jan 2007 ABNIC 2006 FY technical profits up 20% - 15 Jan 2007 ABNIC - Al Nahda & Al Khan residential projects in Sharjah - GN 28 Feb 2007 ETISALAT 2006 FY profit AED 5.86 bn +38% on 2005 - 29 Jan 2007 CBI 2006 FY profit 8.6m down 96% on 2005 - BOD meeting 22 Jan 07 AMLAK 2006 FY profit AED 130m +23% on 2005, incomplete PR 30 Jan 2007 ETISALAT eyeing Wataniya after all, and Algerie Telecom - B 26 Jan 2006 Stocks crash worldwide, currency turmoil - 28 Feb 2007 GCC currency revaluations up to 30% in March 2007 - KT 27 Feb 2007 UAE economy real GDP growth 2006 estimated 9.7% - GLOBAL 27 Feb 2007 Chinese stocks crash, along with everything else - BB 28 Feb 2007 GFH appoints Nick Judd as head of Real Estate Fund Management - PR 27 Feb 07 DANA Gas board joined by Centurion Energy chairman - 28 Feb 2007 DIC - DIRC contract for Ritaj given to Robust Contracting - PR 27 Feb 2007 ARMX 2005 FY profit AED 95m +28% on 2005 - conflicting revenues More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 28 February 2007

best stock rises symbol price change ASMAK 3.77 +0.34 +9.9% NBF 4.58 +0.40 +9.6% CBI 2.70 +0.17 +6.7% AABAR 2.54 +0.13 +5.4% AGTHIA 1.20 +0.06 +5.3%

worst stock falls symbol price change OEIHC 23.00 -1.90 -7.6% FGB 12.50 -0.55 -4.2% INVESTB 2.21 -0.08 -3.5% GLOBAL 11.55 -0.40 -3.3% EBI 13.15 -0.40 -3%

top volume symbol value (AED) price EMAAR 399,843,504 12.90 SOROUH 172,711,745 3.04 TAQA 110,181,993 2.35 AABAR 103,752,385 2.54 DANA 96,635,821 1.61

Seemed to be a lot of news about listed shares in the UAE today with new appointments, AGM and EGM results, IPOs coming up, the big bond issue for Taqa, Emaar futures in Switzerland, and foreign ownership of Sorouh and Aldar. Yet again, the Abu Dhabi Securities Market was where all the action was, with another rise and total value traded on a par with the Dubai Financial Market, while DFM joined in with the rest of the world's turmoiled stockmarkets and ended February on a negative note.

Dubai Financial Market

DFM was down by 0.9% to close at 4173, traded value up a bit to 717m dhs with the bulk of that from Emaar Properties PJSC (EMAAR) dropping by 1.5% to 12.85 from 400m dhs worth.

Emirates Integrated Telecommunications Company (DU), Dubai Investments PJSC (DIC) and Islamic Arab Insurance Company PSC (IAIC) all increased by less than 1% - with volumes in Salama higher than normal probably as a result of the IPO in Saudi approval.

Amlak Finance Company (AMLAK) had the worst fall of 1.7% to close at 3.94. Bigger falls were from illiquid stocks. Other actively traded shares fell about 1% or less. Union Properties PJSC (UPP) fell by 1.2% - its news about borrowing money for F1 theme parks not impressing investors.

Abu Dhabi Securities Market

ADSM rocked yet again today with big volumes and rises from several actively traded stocks. Total value traded was AED 768m, just higher than DFM, while the index crept up another 0.3% to close at 3091 points with the energy stocks the big ones today.

Aabar Petroleum Investments Company PJSC (AABAR) opened high and almost went limit up today but fell back to 2.41 by the end of trading. Average of 2.54 still up by 5.4% from yesterday's close and a solid 104m dhs worth traded.

Dana Gas PJSC (DANA) also heavily traded with 97m dhs worth and up by 3.2%. Abu Dhabi National Energy Company (TAQA) rounded off the energy sector with 110m dhs worth and a 3.5% increase.

Sorouh Real Estate (SOROUH) was the most heavily traded stock with 172m dhs worth and a 1.7% increase - today's news of an EGM to decided foreign ownership explaining the big interest in the past week.

Other rises on large volumes for Ras Al Khaimah Properties PJSC (RAKPROP) up 0.7%, Ras Al Khaimah Cement Company (RAKCC) up 1%, Emirates Telecommunications Company (ETISALAT) up 0.3%, Gulf Cement Company (GCEM) up 1.5%, Oasis International Leasing Company PJSC (OILC) up 0.6%, ARKAN up 2.5%, and AGTHIA up a stellar 5.3%. ADNIC also noted for a 4.3% increase from a single large trade of 250,000 shares. Hopefully it wasn't someone making the same mistake as the Gulf News this morning with their news about ABNIC.

The biggest drop of note today was for First Gulf Bank (FGB), plunging by 5.4% on moderate volume of 18m dhs. Other more active stocks fell by 1% or less including National Bank of Abu Dhabi (NBAD), Ras Al Khaimah White Cement Company (RAKWCT), Abu Dhabi Commercial Bank (ADCB), and NBS. Aldar Properties PJSC (ALDAR) the most heavily traded stock to fall, 57m dhs worth and a 1% drop.

• Discuss and read UAE company news at Dubai Share Talk.

UAE stock news 28 Feb 2007

• SOROUH Real Estate announced a board meeting to consider foreign ownership.
• Al Dar Board approves 40 % foreign ownership.
• ALDAR - Al Dar Properties AGM approved an 8% cash dividend, which will suck up another 130 million dhs from their dwindling cash reserves. Record date 12 March 2007.
• ETISALAT is no longer interested in Kuwait's Wataniya Telecom but Qatar Telecom is.
• IAIC Salama received approval for the IPO of its Saudi subsidiary.
• ARMX - Aramex announced cash dividends of 10% (about a 4% dividend yield).
• DANA Gas appoints Centurion Energy chairman to the Board of Directors.
• ESCA says they have six or more IPOs in the pipeline but won't say which ones. Air Arabia, Deyaar, Dubai Bank, and Al Qudra Holding are probably on the list.
• DHAFRA - Al Dhafra Insurance AGM approves a 50% cash dividend.
• ADNIC - Abu Dhabi National Insurance board proposes a 50% cash dividend.
• Stock markets around the world in turmoil after Chinese markets plummet yesterday.

AABAR TAQA limit up - 27 Feb 2007

UAE market news & discussions for 27 February 2007 DFM 2006 FY profit AED 798m -36% from 2005 - 26 Feb 2007 ARMX relocates three dividsions at Heathrow - 27 Feb 2007 DMCC to support the diamond trade with Master Plan - PR 27 Feb 2007 DIB launches Sharia compliant capital protected REIT notes - PR 27 Feb 2007 DIB - Deyaar Development to convert to PJSC - IPO - KT 26 Feb 2007 CBD 2006 FY profit AED 601m, up 9.2% from 2005 - 17 Jan 2007 RAKBANK 2006 FY profit AED 259 +40% on 2005 - BOD meeting 28 Jan 2007 NBF 2006 FY profit AED 348m +35% on 2005, BOD meeting 22 Jan 2007 TAMWEEL CEO - focus on medium and low cost developments PR 26 Feb 2007 Dubai Property market trends - summary of opinions and articles IPOs coming up in Saudi Arabia in 2007 IPOs for five Saudi Insurance Companies in March 2007 ETISALAT fires up TV on mobile phone service - GN 25 Feb 2007 DU defends mobile TV service costing twice Etisalat's - ET 27 Feb 2007 DGCX to launch gold futures options in March 2007 - ET 27 Feb 2007 ADIB EGM approves AED 1.5 bn convertible bonds for EIIC - ET 27 Feb 2007 TAMWEEL CEO predicts 36,000 units delivered in 2007 - ET 27 Feb 2007 GoWealthy forecasts 20% property correction by end 2008 - GN 27 Feb 2007 DU to offer outsourcing deals to telecom operators worldwide - GN 27 Feb 2007 DU service centers for new numbers from 28 Feb- 08 Mar 07 - PR 27 Feb 07 GFH new wealth management appointments - PR 26 Feb 2007 EBI wins Best Trade Finance Provider 2007 award - PR 27 Feb 2007 IAIC Salama IPO in Saudi Arabia - ET 12 Oct 2006 Cambridge Capital Trading & Dubai Options Exchange scam GCC currency revaluations up to 30% in March 2007 - KT 27 Feb 2007 ETISALAT 2006 FY profit AED 5.86 bn +38% on 2005 - 29 Jan 2007 More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 27 February 2007

best stock rises symbol price change ADNH 5.22 +0.47 +9.9% ADSB 2.86 +0.21 +7.9% AABAR 2.41 +0.13 +5.7% TAQA 2.27 +0.11 +5.1% NCC 13.70 +0.65 +5%

worst stock falls symbol price change ASMAK 3.43 -0.37 -9.7% OEIHC 24.90 -2.55 -9.3% EIC 12.55 -0.60 -4.6% ARIG 2.83 -0.13 -4.4% ADNIC 8.15 -0.34 -4%

top volume symbol value (AED) price SOROUH 193,070,282 2.99 EMAAR 110,609,380 13.05 AABAR 108,245,103 2.41 TAQA 98,189,301 2.27 ETISALAT 79,981,653 16.80

Dubai Financial Market

DFM volumes a relative trickle today with only 272m dhs worth of trading while down the road, ADSM was much more hectic. The DFMGI index had a reasonable rise of 0.7% to 4209 points with little movement of any note in individual shares.

Emaar Properties PJSC (EMAAR) stagnant again today closing at an unchanged 13.05 dhs with just 111m dhs of trading. Most actively traded stocks rose about 1% or less, biggest rises of 5% from NCC and National Bank of Dubai (NBD) on negligible volumes.

Falls of 1.5% from Arabtec Holding PJSC (ARTC) and 0.8% from GULFNAV. Biggest fall of 4.4% for Arab Insurance Group (ARIG) from a handful of trades.

Abu Dhabi Securities Market

ADSM volumes of 717m dhs almost triple that of DFM, it seems all the punters have headed down to Abu Dhabi for their trading this week. The index rose 0.75% to close at 3080 points with healthy increases in several stocks.

Aabar Petroleum Investments Company PJSC (AABAR) went limit up today with many buyers in the queue by the end of the trading session but no sellers. Share price closed at 2.50 dhs with volumes of 108 dhs. Average price of 2.41 was 5.7% up from yesterday's close.

Abu Dhabi National Energy Company (TAQA) was another limit up stock today with nobody wanting to sell to the queue of waiting buyers, average price of 2.27 up 5.1% from yesterday and 98m dhs worth of trades.

Most unusual trading activity today has to be for Commercial Bank International (CBI) with only 3 deals but one of them for a huge 30m shares with a value of 75.9 million dhs, putting them high up on ADSM's value traded table. Closing price was 1.6% up from yesterday or whenever their last trade was.

Sorouh Real Estate (SOROUH) topped the volume table with 193 dhs worth of trading and a 2.4% rise to 2.99. Increases on big volumes for Emirates Telecommunications Company (ETISALAT) up 2.1% and 80m dhs worth after announcing a 35% dividend for 2006 H2, and Dana Gas PJSC (DANA) up 1.3% and 25m dhs. Other rises on significant trading volumes for Gulf Cement Company (GCEM) up 1.2%, and National Bank of Abu Dhabi (NBAD) up 0.2%.

Despite the overall increase, more stocks actually fell than rose on ADSM today - but the difference was only one. Big volume falls from Abu Dhabi Commercial Bank (ADCB) down 1% and 24m dhs worth, and Aldar Properties PJSC (ALDAR) down 0.2% and 51m dhs. Other shares falling on moderate volumes were ARKAN down 1.7%, Ras Al Khaimah White Cement Company (RAKWCT) down 2.6%, Sudan Telecom Company Ltd (SUDATEL) down 0.3%, and Abu Dhabi Islamic Bank (ADIB) down 2.3% after their EGM approved a convertible sukuk for EIIC investment.

• Discuss and read UAE company news at Dubai Share Talk.

ADSM hot, DFM not - 26 Feb 2007

UAE market news & discussions for 26 February 2007 Stock Picks UAE by Fundamental Analysis February 2007 GFH new wealth management appointments - PR 26 Feb 2007 ABNIC 2006 FY technical profits up 20% - 15 Jan 2007 HELP - Share Dilemma with DIC and Tabreed stocks RAKCEC - RAK Porcelain enters Indian Market - December 2006 SHUAA appoints Senior VP to lead M&A efforts - PR 26 Feb 2007 DFSA signs information sharing MOU with NZ Securities Commision - PR 26 Feb 07 SOROUH AED 63m seawall contract to Athena SA from Greece - PR 26 Feb 07 JOTEL - Jordan Telecom 2006 profit AED 451m +0.7% from 2005 - 25 Feb 07 DIB - Deyaar Development to convert to PJSC - IPO - KT 26 Feb 2007 ARMX Aramex plans to buy unnamed Morocco company - Reuters 26 Feb 2007 UCC Extraordinary General Meeting EGM 18 Mar 2007 - 10% share dividend? QTEL 2006 FY profit AED 1.7 bn +51% 2005, cash div 100% 04 Feb 2007 NBS/SIB 2006 FY profits AED 200m - BOD meeting 16 Jan 2007 RAKBANK 2006 FY profit AED 259 +40% on 2005 - BOD meeting 28 Jan 2007 FBICO 2005 FY results - not yet? NBQ 2006 FY results (not yet) - BOD meeting 5pm on 28 Jan 2007 OILC 2006 FY AED 96m profit +240% from 2005, BOD meeting 30 Jan 2007 EFG-Hermes Brokerage discussion and information Stock Picks by Technical Analysis February 2007 Emirates Iron Industries Company AED 3 bn expansion - KT 25 Feb 2007 OIC 2006 FY results - 30 Jan 2007 (not reviewed) easyHotel breaks ground for first budget hotel chain in Dubai UAE - PR 25 Feb 2007 FTA discussions between the EU and the GCC AMLAK 2006 FY profit AED 130m +23% on 2005, incomplete PR 30 Jan 2007 More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 26 February 2007

best stock rises symbol price change NBF 4.18 +0.38 +10% ASMAK 3.80 +0.33 +9.5% RAKCEC 5.15 +0.25 +5.1% SOROUH 2.92 +0.13 +4.7% NBAD 24.95 +1.05 +4.4%

worst stock falls symbol price change ADSB 2.65 -0.25 -8.6% ADNH 4.75 -0.34 -6.7% NBD 10.25 -0.40 -3.8% QTEL 223.00 -8.00 -3.5% EBI 13.55 -0.40 -2.9%

top volume symbol value (AED) price EMAAR 302,353,464 13.00 SOROUH 166,034,457 2.92 ALDAR 59,321,033 4.97 AABAR 52,018,966 2.28 ETISALAT 46,823,428 16.45

Dubai Financial Market

DFM yet again trumped by Abu Dhabi in volumes with the DFM index falling 0.7% to 4179 points and a moderate 475m dhs worth of deals done.

Overall an unexciting day with Emaar Properties PJSC (EMAAR) unchanged at 13.05 and 300m dhs worth of trading. Shuaa Capital PJSC (SHUAA) and National General Cooling Company PJSC (TABREED) the only significant stocks to rise out of a total of five, about 1% each. GGICO had the highest rise of 3.5% from just two trades.

Out of the ten losers, the active stocks fell by less than 1.5% each, except for National Bank of Dubai (NBD) with the biggest fall of the day at 3.8% from above average volume of 5.3m dhs worth.

Abu Dhabi Securities Market

ADSM volumes of 537m dhs and a decent rise of 1.8% to 3057 makes the session at DFM look very lacklustre in comparison.

Sorouh Real Estate (SOROUH) once again was at the top of the volume list with 166m dhs worth and a rise of 4.7%. Seems very unlikely this excitement is due to the press release today about Sorouh awarding a 63m Dh seawall contract to a Greek company. Several other stocks traded significantly higher than usual volumes on rising prices, notably

Aabar Petroleum Investments Company PJSC (AABAR) up 3.2% and 52m dhs of trading,
Aldar Properties PJSC (ALDAR) up 2.9% and 59m dhs,
ARKAN up 2.5% and 31m dhs,
Dana Gas PJSC (DANA) up 4% and 42m dhs,
Emirates Telecommunications Company (ETISALAT) up 2.8% and 47m dhs,
First Gulf Bank (FGB) up 0.4% and 27m dhs,
National Bank of Abu Dhabi (NBAD) up 4.4% and 12m dhs,
Ras Al Khaimah White Cement Company (RAKWCT) up 4.4% and 2.3m dhs (high for them)
Ras Al Khaimah Properties PJSC (RAKPROP) up 0.7% and 19m dhs
Sudan Telecom Company Ltd (SUDATEL) up 0.3% and 10m dhs
Abu Dhabi National Energy Company (TAQA) up 1.9% and 33m dhs.

The only loser of any note was Abu Dhabi Islamic Bank (ADIB) down 0.8% on relatively moderate value of 7.5m dhs of shares traded.

• Discuss and read UAE company news at Dubai Share Talk.

ADSM & SOROUH big trading 25 Feb 2007

UAE market news & discussions for 25 February 2007 Stock Picks by Technical Analysis February 2007 DIB new dollar Sukuk roadshow kicks off - PR 25 Feb 2007 CBI Emiratisation and Mawarid Training Program - PR 25 Feb 2007 ETISALAT fires up TV on mobile phone service - GN 25 Feb 2007 ETISALAT eyeing Wataniya after all, and Algerie Telecom - B 26 Jan 2006 Dana and Crescent problems with Iran - Mar 2006 to... NBD 2006 FY AED 1.1 bn almost same as 2005 - 31 Jan 2007 ARMX 2005 FY profit AED 95m +28% on 2005 but someone can't count? EIB 2006 FY profit AED 117m +129% in 2005, BOD meeting on 23 Jan 2007 SOROUH 2006 FY profit 976m, includes IPO income? - BOD meeting 29 Jan 07 RAKWCT 2006 FY profit AED 68m -38% from 2005 - 29 Jan 2007 EIB - Emirates International Brokerage discussion UPP 2006 FY profit AED 614m +5% from 2005 FH 2006 FY profit AED 160m +19%* from 2005, 50% cash div 23 Jan 2007 EBI 2006 FY profit AED 1.9 bn +12% on 2005 - BOD meeting on 24 Jan 2007 DNIR 2006 FY profit AED 29m -90% from 2005 GCEM 2006 FY profit AED 110m -78% from 2005 - 29 Jan 2007 CBI 2006 FY profit 8.6m down 96% on 2005 - BOD meeting 22 Jan 07 Arabtec & Max Bogl JV in Dubai Sports City but share price flat? 23 Feb 07 UAE companies list of 2006 final results and dividends NMDC 2006 FY results not available yet? JULPHAR 2006 FY profit AED 67m -43% from 2005 FGB 2006 FY profit AED 1.5 bn +45% from 2005, 70% cash div - 23 Jan 2007 Looking for online broker, any idea? How can I buy/sell shares without going to DFM? More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 25 February 2007

best stock rises symbol price change ASMAK 3.47 +0.31 +9.8% RAKWCT 1.84 +0.10 +5.7% NCC 13.05 +0.60 +4.8% SOROUH 2.79 +0.11 +4.1% DNIR 3.34 +0.11 +3.4%

worst stock falls symbol price change RAKCEC 4.90 -0.25 -4.9% NBAD 23.90 -1.10 -4.4% DANA 1.50 -0.06 -3.8% AMAN 14.35 -0.55 -3.7% GGICO 8.54 -0.31 -3.5%

top volume symbol value (AED) price SOROUH 268,167,171 2.79 EMAAR 145,261,528 13.10 AABAR 94,059,138 2.21 DANA 34,518,179 1.50 DIC 29,480,485 4.43

Dubai Financial Market

It's a rare day that DFM is eclipsed by ADSM but today was one of those days. Volume of only 321m dhs was two thirds of the heavy trading down the road in Abu Dhabi.

The DFM index quietly slid 0.4% to 4208 with very little noteworthy trading activity. Arabtec Holding PJSC (ARTC) the only stock in the active list to show a rise, and that was only 0.9% - perhaps news of a possible contract with Dubai Sports City keeping it up. Biggest rise of 4.8% from a single trade in NCC.

AMAN down 3.8% and National General Cooling Company PJSC (TABREED) down 2% had the worst days. The rest of the busy list falling about 1% or less. Emaar Properties PJSC (EMAAR) traded only 145m dhs worth and fell 0.8% to 13.05.

Abu Dhabi Securities Market

As mentioned, ADSM's 505m dhs worth of trading was well ahead of DFM volumes and much higher than normal for ADSM which fell by 0.7% to close just above 3000 points.

Half of that activity was the 268m dhs worth of trading in Sorouh Real Estate (SOROUH) which rose a healthy 4.1% after Sorouh's audited financial results were released today. A quick glance at them reveals nothing different from Sorouh's unexciting preliminary results released at the end of January so perhaps there's some other news that might explain the sudden activity - nothing seen so far.

Aabar Petroleum Investments Company PJSC (AABAR) had another solid day with a 2.3% rise from 94m dhs of trading, while Dana Gas PJSC (DANA) went the other way, falling 3.9%. Emirates Telecommunications Company (ETISALAT) and First Gulf Bank (FGB) were also heavily traded but with no change in price.

National Bank of Abu Dhabi (NBAD) suffered the biggest notable drop of 4.4% to close at 23.90. Most other actively traded stocks fell about 1% or less.

Ras Al Khaimah White Cement Company (RAKWCT) had a decent 5.8% rise from significant volumes after announcing a healthy dividend of 15% (about an 8% yield). Although how healthy that is for a company with falling profits and returns is another question. Ras Al Khaimah Cement Company (RAKCC), NBS, and ADNIC the only other companies to increase on volumes of any significance. ASMAK's big rise was from just two small trades.

• Discuss and read UAE company news at Dubai Share Talk.

UAE Share Report 22 Feb 2007

UAE market news & discussions for 22 February 2007 Stock Picks by Technical Analysis February 2007 UAB 2006 FY profit AED 158m +2% on 2005, Share div 12%, Cash 8% CBD 2006 FY profit AED 601m, up 9.2% from 2005 - 17 Jan 2007 Saudi stockmarket up, why not Dubai in Feb 2007? An important issue - if America strikes Iran? UAE companies list of 2006 final results and dividends NBAD 2006 FY profit AED 2.1 bn -19% from 2005, 30% stock, 40% cash div FGB 2006 FY profit AED 1.5 bn +45% from 2005, 70% cash div - 23 Jan 2007 RAKPROP 2006 FY profit AED 405m +243% from 2005 - 22 Jan 2007 GLOBAL 2006 FY profit AED 907m +16% on 2005 - 01 Feb 2007 More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 22 February 2007

best stock rises symbol price change RAKCEC 5.15 +0.29 +6% AMAN 14.45 +0.65 +4.7% AABAR 2.16 +0.09 +4.3% SCIDC 4.06 +0.14 +3.6% AEIBANK 1475.00 +45.00 +3.1%

worst stock falls symbol price change NMDC 3.50 -0.30 -7.9% AKIC 1.90 -0.10 -5% FH 8.08 -0.41 -4.8% DANA 1.56 -0.07 -4.3% BOS 2.47 -0.09 -3.5%

top volume symbol value (AED) price EMAAR 115,200,814 13.15 DIC 111,331,116 4.51 UPP 42,411,381 3.36 AABAR 37,386,933 2.16 DANA 32,819,915 1.56

This weeks Hot Topic on the Forum has been Stock Picks by technical analysis for Febraury 2007. A trading diary has been started where members can follow the daily stock picks and contribute ideas on trading strategies.

Dubai Financial Market

A quiet days trading to finish the week with 396 million worth of shares changing hands and the index finishing .5% down at 4226. Only 4 shares advanced and 12 declined
In many ways a positive weeks trading with the index wanting to move higher, often starting the trading day very positively only to end slightly down.

Biggest gainers on strong volumes included Union Properties PJSC (UPP) 3.36 (.91%) and Dubai Islamic Bank (DIB) 8.64 (.23%)
Biggest losers on reasonable volume included Dubai Investments PJSC (DIC) 4.51 (2.83%), National General Cooling Company PJSC (TABREED) 2.01 (1.95%), Tamweel PJSC (TAMWEEL) 4.00 (.99%).

Dubai Investments PJSC (DIC) was the stand out share with traders seemingly not happy with the propsed cash dividend of 15% and share dividend of 10%

Abu Dhabi Securities Market

Volumes are still above normal on the ADSM with 225 million worth of shares changing hands and the index finishing .6% down at 3024. 18 shares advanced and 18 shares declined.
A good weeks trading for the ADSM with volumes up and the oil and gas shares performing particularly well.

Biggest gainers on reasonable volume included Aabar Petroleum Investments Company PJSC (AABAR) 2.16 (4.35%), Sharjah Cement & Industrial Development Company (SCIDC) 4.06 (3.57) and Abu Dhabi National Energy Company (TAQA) 2.13 (2.90%).
Biggest losers included Abu Dhabi Commercial Bank (ADCB) 6.24 (.16%), Dana Gas PJSC (DANA) 1.56 (4.29%), ARKAN 1.20 (.83%)

• Discuss and read UAE company news at Dubai Share Talk.

AABAR & DANA up - 21 Feb 2007

UAE market news & discussions for 21 February 2007 Stock Picks by Technical Analysis February 2007 An important issue - if America strikes Iran? UAE companies list of 2006 final results and dividends JULPHAR 2006 FY results NBAD 2006 FY profit AED 2.1 bn -19% from 2005, 30% stock, 40% cash div Interesting Facts - Warren Buffet's 10 Golden Investing Rules FGB 2006 FY profit AED 1.5 bn +45% from 2005, 70% cash div - 23 Jan 2007 AWNIC 2006 FY profit AED 41m down 32% from 2005 - 22 Jan 2007 ALDAR launches AED 5.5 bn convertible Sukuk - 01 Feb 2007 dfm shares opening prices FGB to launch Aseel Finance - an Islamic finance affiliate SEB 21 Feb 2007 RAKPROP 2006 FY profit AED 405m +243% from 2005 - 22 Jan 2007 ARIG new appointment announced in Finance and Admin - SCA 21 Feb 2007 GLOBAL 2006 FY profit AED 907m +16% on 2005 - 01 Feb 2007 AMLAK property and finance company approval in Egypt - 21 Feb 2007 GFH real estate and infrastructure expansion - PR 20 Feb 2007 Dubai condominium law to come by end 2007 - ET 21 Feb 2007 Alphabetical list of DIFX stocks, listed companies, and DIFX brokers Ithmar Capital may list Belhoul Lifecare and Pharma World on DIFX - 21 Feb 07 DU 2006 FY loss AED 755m, no results 2005 - 31 Jan 2006 EMAAR 2006 FY profit AED 6.37 bn +35% on 2005 - PR 29 Jan 2007 Extra registration costs for Dubai freehold owners - 21 Feb 2007 UAE ranked 14th out of 107 countries for innovation - KT 21 Feb 2007 DIB to manage AED 29 bn in Sukuks in 2007 - BB 21 Feb 2007 DIB will lead AED 18 bn of financing products in 2007 - KT 21 Feb 2007 ETISALAT will borrow AED 6.4 bn for Egypt mobile operations - R 20 Feb 2007 NBD wins Best UAE Local Bank award from Euromoney - PR 20 Feb 2007 UAE - US Free Trade Agreement talks revival? - KT 15 Nov 2006 UAE and Kuwait to revalue currency pegs? Reuters 20 Feb 2007 Dubai Mercantile Exchange unveils details of Oman futures - 13 June 2006 Saudi stockmarket up, why not Dubai in Feb 2007? IAIC Salama banishes publication of news today - 20 Feb 2007 SHUAA - senior fund manager appointment - PR 20 Feb 2007 UCC 2006 FY profit AED 179m -66% on 2005 - BOD meeting 14 Feb 2007 RAPCO 2006 FY profit AED 9.7m down -58% from 2005 - 28 Jan 2007 More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 21 February 2007

best stock rises symbol price change GFH 9.77 +1.27 +14.9% AABAR 2.07 +0.13 +6.7% DANA 1.63 +0.09 +5.8% DNIR 3.21 +0.14 +4.6% CBI 2.60 +0.09 +3.6%

worst stock falls symbol price change RAKCEC 4.86 -0.43 -8.1% UCC 4.17 -0.16 -3.7% TKFL 2.87 -0.10 -3.4% ADAVIATION 2.02 -0.07 -3.3% QCEM 1.80 -0.05 -2.7%

top volume symbol value (AED) price EMAAR 228,935,479 13.25 DIC 207,716,895 4.66 DANA 98,842,164 1.63 IAIC 83,131,028 2.86 ETISALAT 66,688,354 15.95

Dubai Financial Market

DFM had a much quieter day overall today with volume of 700m dhs only half what went through yesterday. The DFMGI index fell 0.4% to 4245 points with an even split between winning and losing stocks. Emaar Properties PJSC (EMAAR) back on top of the volume list with 229m dhs worth of trading and a 1.1% fall to 13.20. Dubai Investments PJSC (DIC) volumes still high at 208m dhs and a fall of 2.1% the biggest of the day. Largest significant rise from Islamic Arab Insurance Company PSC (IAIC) up 1.4% and 83m dhs of trading. Big jump in GFH share price from just one trade.

Abu Dhabi Securities Market

Another big day for ADSM with 440m dhs worth of trading but the majority of stocks falling in price and the index down 0.3% to 3027 points. Dana Gas PJSC (DANA) the king of the Abu Dhabi stocks today rising 6% from 100m dhs worth of trading. Aabar Petroleum Investments Company PJSC (AABAR) also at the top of the tree with a 6.7% rise from 62m dhs of trading. Other rises on strong volumes from Abu Dhabi Commercial Bank (ADCB) up 0.5% from 31m dhs of trading, and Ras Al Khaimah Properties PJSC (RAKPROP) up 1.3% and 37m dhs worth of deals. First Gulf Bank (FGB), Gulf Cement Company (GCEM), and Sudan Telecom Company Ltd (SUDATEL) had rises of less than 1%. Falls on big volumes for Sorouh Real Estate (SOROUH) down 0.75%, Aldar Properties PJSC (ALDAR) down 0.8%, ARKAN down 2.4%, and Emirates Telecommunications Company (ETISALAT) down 0.9% from 67m dhs of trading - punters seem unimpressed with the news the Etisalat is going to borrow money for its Egyptian venture. Ras Al Khaimah Ceramics (RAKCEC) with the biggest fall from just 7 trades.

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DANA & ADSM increase on big volumes - 20 Feb 07

UAE market news & discussions for 20 February 2007 IAIC Salama banishes publication of news today - 20 Feb 2007 EMAAR Misr now has Raya Contact Center to put you on hold - PR 20 Feb 2007 GFH real estate and infrastructure expansion - PR 20 Feb 2007 EMAAR acquisition of Egypt unit? - ESCA clarification 18 Feb 2007? ALDAR launches AED 5.5 bn convertible Sukuk - 01 Feb 2007 Al Salam Bank sets up real estate company - PR 19 Feb 2007 DIFC summit partnership with the Financial Times - KT 20 Feb 2007 EMAAR ETISALAT EMIRATES RAKCEC are top 4 UAE brands - KT 20 Feb 07 ADSB will deliver 2 Fast Supply Vessels to UAE Navy this month - KT 19 Feb 07 DANA Gas in Egypt and regional expansion plans - 13 Feb 2007 DU services start - Sheikh Mohammed makes first phone call - GN 20 Feb 2007 More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 20 February 2007

best stock rises symbol price change AKIC 2.00 +0.16 +8.7% DANA 1.54 +0.12 +8.5% FH 8.49 +0.58 +7.3% TAQA 2.07 +0.13 +6.7% TKFL 2.95 +0.18 +6.5%

worst stock falls symbol price change NBQ 4.40 -0.40 -8.3% OIC 15.25 -0.80 -5% CBI 2.51 -0.09 -3.5% FOODCO 3.82 -0.08 -2.1% IAIC 2.88 -0.05 -1.7%

top volume symbol value (AED) price DIC 327,485,557 4.76 EMAAR 315,836,035 13.35 IAIC 158,609,538 2.88 AMLAK 119,626,885 4.04 UPP 119,111,803 3.36

Dubai Financial Market

A small rise of 0.5% in the DFM index on increased volumes of 1.4 bn dhs disguised some eyebrow raising volumes today. Dubai Investments PJSC (DIC) was well up on normal volume with 327m dhs worth of trading putting it at the top of the list, just ahead of Emaar Properties PJSC (EMAAR)'s 316m dhs and no change in price. Dubai Investments had a small increase of 1.3%. Unlikely that today's activity is related to the news of AED 20 bn in Dubai Investments Park, which is a couple of days old now.

Amlak Finance Company (AMLAK) picked itself up out of the recent slump and had a 2.5% rise from 120m dhs of trading, Union Properties PJSC (UPP) also had a 2.5% rise and 120m dhs volume. Aramex PJSC (ARMX) had the biggest rise of 3.2% from a solid 45m dhs worth of trading (ignoring the increases from single trades in Dubai National Insurance & Reinsurance Co. (DNIR) and GGICO).

Islamic Arab Insurance Company PSC (IAIC) the big loser today with a 1.7% decrease and 160m dhs of trading. No surprise really after yesterday's massive rise. GULFNAV the only other actively traded stock to fall with a 1.6% drop. OIC which rarely trades had a handful go through and a fall of 5% to 15.25 dhs.

Abu Dhabi Securities Market

ADSM had an outstanding day with the index steaming up by 1.6% to crack through 3000 points and finish at 3035 after a prolonged period below that level. Volume was a staggering 528m dhs worth, several times the daily average for the past few months. Could this be the end of the slump?

Dana Gas PJSC (DANA) the outstanding performer with a 9.9% increase the highest of the day, and 75m dhs of trading almost the ADSM high today - prompted by their drilling plans in Egypt. Aldar Properties PJSC (ALDAR) roaring ahead yet again with a 5.7% increase and volume just over 100m dhs worth. Other big increases and trading volumes from Sorouh Real Estate (SOROUH) up 5.5%, Ras Al Khaimah Properties PJSC (RAKPROP) up 4.8%, Abu Dhabi National Energy Company (TAQA) up 6.7%, and Aabar Petroleum Investments Company PJSC (AABAR) up 5.4%.

Abu Dhabi Islamic Bank (ADIB), Emirates Telecommunications Company (ETISALAT), and Sudan Telecom Company Ltd (SUDATEL) were the stocks that got left behind with slides of about half a percent each on significant volumes. Other falls were from very low volumes.

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IAIC ALDAR SOROUH BILDCO up 19 Jan 07

UAE market news & discussions for 19 February 2007 Cambridge Capital Trading DFM PJSC - 20% IPO 12-23 Nov 2006 - 300x oversubscribed, allocations SOROUH to allow foreign ownership? 18 Feb 2007 PSE - Palestine Stock Exchange PJSC by April 2007? SEB 22 Jan 2007 ADCB plans to borrow AED 3.67 bn to go shopping - KT 19 Feb 2007 ADSB will deliver 2 Fast Supply Vessels to UAE Navy this month - KT 19 Feb 07 ADSB deals with navy and coastguard during IDEX - GN 19 Feb 2007 DIC - Emirates Float Glass agreement with Saudi - PR 14 Feb 2007 UAE companies list of 2006 final results and dividends DIC news on dividends, M'Sharie, Dubai property - 12 Feb 2007 IAIC Salama 10% share buyback - BOD decision 07 Feb 2007 ACICO 2006 FY results (not reviewed) late? - 14 Feb 2007 EBI 2006 FY profit AED 1.9 bn +12% on 2005 - BOD meeting on 24 Jan 2007 DRC 2006 FY results 01 Feb 2007 - not reviewed yet DNIR 2006 FY accounts (not yet), BOD meeting on 29 Jan 2007 DU 2006 FY loss AED 755m, no results 2005 - 31 Jan 2006 IFA 2006 FY results - 01 Feb 2007 not reviewed yet. WARE / AGILITY press release in RAI newspaper 15 Feb 2007 MASQ 2006 FY profit AED 1.6 bn -10% from 2005 - PR 31 Jan 2007 GGICO 2006 FY results out 29 Jan 2007 ASCANA 2006 FY profit AED 9.3m -93% from 2005 - 01 Feb 2007 ARIG 2006 FY profit AED 112m -37% from 2005 - 29 Jan 2007 DIC - Dubai Investments Park AED 20 bn residential investment PR 18 Feb 07 DIC 2006 FY profit AED 990m up 45% from 2005 - 28 Jan 2007 EMAAR letter to ESCA - 19 Feb 2007 More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 19 February 2007

best stock rises symbol price change IAIC 2.75 +0.32 +13.2% ALDAR 4.70 +0.29 +6.6% SOROUH 2.54 +0.14 +5.8% BILDCO 3.88 +0.21 +5.7% RAKWCT 1.69 +0.08 +5%

worst stock falls symbol price change ASMAK 3.16 -0.34 -9.7% GGICO 8.75 -0.30 -3.3% BOS 2.58 -0.09 -3.4% NMDC 3.50 -0.09 -2.5% FOODCO 3.90 -0.10 -2.5%

top volume symbol value (AED) price EMAAR 181,419,348 13.30 IAIC 152,099,185 2.75 ALDAR 119,001,369 4.70 DIC 73,121,654 4.59 SOROUH 67,043,202 2.54

Dubai Financial Market

DFM had a good rise of 0.75% to 4241 points today on moderate volume of 616m dhs. Islamic Arab Insurance Company PSC (IAIC) the star performer with a massive 12.5% rise to 2.88 on big volume of 152m dhs worth of trading, investors appear to be excited by ESCA's approval of Salama's share buyback.

Other notable rises from National General Cooling Company PJSC (TABREED) up 4.1% and Aramex PJSC (ARMX) up 3.3% while the rest of the actively traded stocks rose about 0-2% with Emirates Integrated Telecommunications Company (DU) the only one to fall, by just 0.5%. Emaar Properties PJSC (EMAAR) had a relatively quiet day, up by just 0.4% from a relatively light 181m dhs worth of trading.

Abu Dhabi Securities Market

ADSM matched DFM with its 0.75% increase, closing at 2986 points and trading volume a huge 396m dhs worth, almost half of that from Al Dar Properties and Sorouh Real Estate.

Aldar Properties PJSC (ALDAR) was by far the big performer today, share price up by 6.6% to 4.70 and volume of 120m dhs. Sorouh Real Estate (SOROUH) also in the limelight with its 5.8% increase from 67m dhs worth of deals. Both companies trading heavily on news they may or will allow foreign ownership of shares.

Other increases on decent volumes from Ras Al Khaimah Properties PJSC (RAKPROP) up 3.6%, Abu Dhabi National Energy Company (TAQA) up 2.7%, Aabar Petroleum Investments Company PJSC (AABAR) up 4.6%, Abu Dhabi National Company for Building Materials (BILDCO) up 5.7% (with unusually high volumes), and Dana Gas PJSC (DANA) up 5.1%. The remainder of the actively traded shares rose 0-2% with Emirates Telecommunications Company (ETISALAT) having a relatively quiet day and a small increase of 0.6%.

Abu Dhabi Islamic Bank (ADIB) was the only loser of the actively traded shares - down 2.5%, although Bank Of Sharjah (BOS) was busier than normal and fell 3.4%. The big fall for ASMAK was from a single trade.

• Discuss and read UAE company news at Dubai Share Talk.

SOROUH, ALDAR, DANA up 18 Feb 07

UAE market news & discussions for 18 February 2007 Technical Analysis SHUAA and Al Ahlia and Trends Magazine - ET 06 Feb 2007 SHUAA - Arab Asia Gateway Fund cancelled by Forsyth - AB 18 Feb 2007 ARTC AED 514m contract for Karachi Financial Towers in Pakistan 18 Feb 2007 ARTC receives AED 487m drainage contract for JXB - PR 18 Feb 2007 ADIB - update on takeover by Emirates International Investment - R 18 Feb 07 ALDAR EGM - 40% foreign ownership and AED 12.8 bn sukuk - 12 Dec 2006 DP World sale of US ports in 2006 [sold to AIG 11 Dec 2006] DIB picks banks for dollar sukuk listed in London & Dubai - R 17 Feb 2007 GLOBAL - First Jordan Investment firm to be listed in Amman - GN 17 Feb 07 Dana and Crescent problems with Iran - Mar 2006 to... FH 2006 FY profit AED 160m +19%* from 2005, 50% cash div 23 Jan 2007 Cambridge Capital Trading ADSM board restructured - decree from Sheikh Khalifa - GN 16 Feb 2007 RAK Airways IPO OILC - major restructuring into Oasis Leasing and Oasis Capital - GN 15 Feb 07 ESCA extends deadline for 2006 FY disclosures 2 weeks - GN 04 Feb 2007 AABAR - Pearl Oil concession with Petrovietnam for Block 06/94 - GN 14 Feb 07 HELP - Share Dilemma Top Stock Picks for Feb 2007 UAE companies list of 2006 final results and dividends Which shares are cheaper? Emaar or Amlak? GGICO 2006 FY results out 29 Jan 2007 DU 2006 FY loss AED 755m, no results 2005 - 31 Jan 2006 ARKAN committed to Sharia regulation in its operations - 13 Feb 2007 More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 18 February 2007

best stock rises symbol price change SOROUH 2.40 +0.14 +6.2% ALDAR 4.41 +0.21 +5% QCEM 1.72 +0.06 +3.6% DANA 1.37 +0.04 +3% SCIDC 3.91 +0.11 +2.9%

worst stock falls symbol price change OEIHC 27.45 -2.75 -9.1% FH 8.11 -0.38 -4.5% TKFL 2.84 -0.11 -3.7% NBAD 24.15 -0.85 -3.4% DRIVE 1.55 -0.05 -3.1%

top volume symbol value (AED) price EMAAR 533,714,888 13.40 SOROUH 47,813,252 2.40 ALDAR 40,774,426 4.41 GULFNAV 35,586,287 1.29 DANA 35,509,751 1.37

Dubai Financial Market

Volumes up a bit on DFM with 765m dhs worth of trading but the index fell marginally by 0.17% to 4209 points. Biggest rises from Aramex PJSC (ARMX) up 2.4% and National General Cooling Company PJSC (TABREED) up 2.1%. Arab Insurance Group (ARIG) had a slight rise of 0.7% but its 22 deals much more than normal trading. Emaar Properties PJSC (EMAAR) traded 534m dhs worth but with no change in share price. GULFNAV volumes well down on last week with only 36m dhs worth today and a fall of 1.6%. Biggest fall from National Bank of Dubai (NBD) down 2.3%. Other active shares moved up or down only 1% or less.

Abu Dhabi Securities Market

A big day for ADSM with volume of 238m dhs double the average daily volume in recent weeks, on a slight rise of 0.19% to 2964 points. Half the volume from big rises and heavy trading in Sorouh Real Estate (SOROUH) up 6.2% to 2.40, Aldar Properties PJSC (ALDAR) up 5% to 4.43, and Dana Gas PJSC (DANA) up 3% to 1.37. Other big volume trading from Emirates Telecommunications Company (ETISALAT) up just 0.3%, and ARKAN up 1.7%, while National Bank of Abu Dhabi (NBAD) tumbled 3.4% from just under 10m dhs worth of trading. Bank Of Sharjah (BOS) had a bad day with a 2.2% fall on heavier than normal trading but still only 2m dhs worth. No other significant falls, most of the actively traded shares rose.

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