UAE market news 31 Mar 2007

UAE market news & discussions for 31 March 2007

The DFM starts their stockmarket game tomorrow for university and college students in the UAE. Watch for increased activity and large movements on the more obscure and illiquid shares as participants learn how to manipulate prices.

• AMLAK AGM results - Al Abbar to step down - PR 29 Mar 2007
• Merrill Lynch report says 30% recovery for GCC markets - ET 29 Mar 2007
• RAK Properties AGM results - dividend approved 30 Mar 2007 - and commentary on results
• Saudi Insurance IPOs oversubscription rate low - R 31 Mar 2007
• DIB and other banks provide AED 3 bn finance for Mosque - PR 31 Mar 07
• IPOs for five Saudi Insurance Companies in March 2007
• ADCB mortgages - Al Fajer Properties & Jumeirah Business Center 31 Mar 07
• AEMS - Atos Euronext Market Solutions opens at DIFC - PR 31 Mar 2007
• UAE and Oman stock brokers sign MoU for cross-trading PR 31 Mar 2007
• National Properties launched by National Bonds in UAE - PR 31 Mar 2007
• Stock Picks by technical Analysis April 2007
• 2007 Q1 results for DFM and ADSM companies
• DFM & ADSM unstable due to lack of transparency - GN 31 Mar 2007
• ADFS - Abu Dhabi Financial Services
• NBAD appoints new GM for Financial Markets Group - PR 31 Mar 2007
• ALDAR - Noor Al Ain first phase to Al Farah Contracting - CW 31 Mar 2007
• GCC bond market could develop as issues double in 2007 - GN 31 Mar 07
• ARABBANK - Jordan to increase stake to curb Hariri control - R 19 Mar 07
• ARABBANK Jordan AGM - raising capital and other news R 30 Mar 2007
• Al Baraka Banking 28 Mar 2007 AGM results - press release 29 Mar 2007

More UAE stock market news and discussions..

AGMs and EGMs (E&OE) this week

• ACICO AGM & EGM 04 Apr 2007
• ADSB AGM Mon 02 April 2007 - 10% cash dividend proposed?
• AKIC AGM 01 Apr 2007
• ARMX AGM 03 April 2007 - 10% cash dividend proposed
• DRC AGM 04 Apr 2007 - 25% share dividend proposed
• NBF AGM Mon 02 Apr 2007 - 10% share dividend and 10% cash dividend proposed?
• NIND AGM & EGM 04 Apr 2007 - 10% share and 70% cash dividend proposed?
• TAMWEEL AGM & EGM 31 Mar 2007 - 20% cash (or share?) dividend, increase in foreign ownership limit.

Last Trading Days this week - Record Date is two days later (E&OE)

• Confirm dates with market before taking any action based on this information.
• ADAVIATION last trading day Tue 03 Apr 2007
• AHI last trading day - Thu 05 Apr 2007
• ETISALAT last trading day Sun 01 Apr 2007
• GCEM last trading day - Thu 05 Apr 2007
• GMPC last trading day Sun 01 Apr 2007
• NCTH last trading day Tue 03 Apr 2007
• RAKWCT last trading day Tue 03 Apr 2007 (possibly 05 Apr 2007)
• SOROUH last trading day Sun 01 Apr 2007 (or possibly Tue 03 Apr 2007, see discussion topic)

AMLAK & RAKPROP AGMs, big bank IPO - news 30 Mar 07

UAE markets Friday 30 March 2007 UAE markets closed for the weekend today. There was the astonishing news of a huge Islamic Bank to be set up in Bahrain with a $100 billion IPO within the next seven years (the largest IPO in the world last year was the $19 billion IPO in China for ICBC Bank). That's such a large number, that we really wonder if we've got the story correct. AMLAK and RAK Properties AGMs yesterday resulted in the usual rather drab press releases. More interesting was the news that Amlak's bank licence application was declined. That could knock their share price a bit on Sunday, although it's more likely the market already knew - share price has been rather dismal in recent weeks. No news about Tamweel's bank license application though.

UAE market news & discussions for 30 March 2007

• AMLAK AGM results - Al Abbar to step down - PR 29 Mar 2007
• Merrill Lynch report says 30% recovery for GCC markets - ET 29 Mar 2007
• RAK Properties AGM results - dividend approved 30 Mar 2007 - and commentary on results
• Al Baraka to start AED 370bn (!) Emaar Islamic Bank in Bahrain R 29 Mar 07
• Emirates replaces Concorde at Heathrow entrance - 29 Mar 2007
• EBI to issue AED 209m Thai baht denominated bonds - R 29 Mar 2007
• DMCC International Diamond Laboratories (IDL) launched - PR 28 Mar 07
• Al Baraka Banking 28 Mar 2007 AGM results - press release 29 Mar 2007
• AlBaraka Bank to issue AED 1.1 bn Islamic bonds - R 29 Mar 2007
• ADIB agrees to sponsor 2007 Islamic Fund Awards - KT 30 Mar 2007
• UAE stock markets 2007 - what do you think will happen?
• ADSM amends Cross-Trading rules in sync with DFM - GN 30 Mar 2007
• AMLAK bank licence application fails, plans AED 1.1 bn sukuks 29 Mar 2007
• Brokerage Licence - how to get one?

More UAE stock market news and discussions..

OILC big rise, RAKCEC up, otherwise gloomy 29 Mar 2007

UAE markets Thursday 29 March 2007 OILC jumped almost 8% on a staggering AED 65m dhs worth of trading - third by value today after EMAAR and DIB. It is bewildering to think that the movement was due to the uninspiring news that OILC's BOD recommended no dividend and a 10:1 stock split. A good number of other companies released AGM results and audited financial results today (see links below). AMAN's AGM press release released no useful information to explain why their stock price is all over the place - it tanked by 13% today. ASMAK released a surpisingly comprehensive BOD report, if only all UAE companies would disclose information of that standard. EMAAR said they completed the Emaar-Misr acquisition but Artoc said Emaar hadn't paid them yet. ESCA cleared SHUAA over its allegedly dodgy Al Ahlia transaction last year. And Merrill Lynch said Gulf markets could recover by 30% this year. A nice positive statement to end a dismal week and month on the UAE markets. AGMs today for AMLAK, ARIG, FBICO, RAKPROP. AGM on Sat 31 Mar 2007 for TAMWEEL. AGMs on Sunday 01 Apr 2007 for AKIC Shares ex-dividend today ADNIC. Shares ex-dividend Sunday GGICO. Last trading day for dividend entitlements today GGICO. LTD Sunday for ETISALAT, GMPC, SOROUH. Do not act on this information before confirming it first with the market.

UAE market news & discussions for 29 March 2007

• ADAVIATION AGM approves 20% cash dividend - 29 Mar 2007 - record date 05 Apr 2007?
• ADNIC audited 2006 financial results - 29 Mar 2007
• AHI Arab Heavy Industries AGM results - 29 Mar 2007
• AKIC 2006 audited financial results - 29 Mar 2007
• AMAN AGM results - 29 Mar 2007 - no dividends?
• ARIG AGM results - 10% cash dividend approved - 29 Mar 2007
• ASMAK BOD report for 2006 FY - 29 Mar 2007
• ASMAK audited financial results - 29 Mar 2007
• ASNIC audited financial statements and AGM results - 29 Mar 2007 - no dividends?
• DRC 2006 audited financial statements 29 Mar 2007
• EMAAR acquires full ownership of Emaar Misr from Artoc - PR 29 Mar 2007
• EMAAR - Burj Dubai delays and Schmidlin Ltd bankruptcy - B 31 Jan 2007
• EMAAR launches West Loft Tower, finance options from DIB PR 27 Mar 2007
• FBICO AGM approves 25% bonus shares - 29 Mar 2007 - record date 09 Apr 2007?
• GCEM Gulf Cement AGM share and cash dividends approved 29 Mar 2007, record date 09 April 2007?
• GMPC AGM 26 Mar 2007 results - ESCA 29 Mar 2007 disclosure in English
• NCTH AGM approves 20% cash dividend - 29 Mar 2007, record date 05 Apr 2007?
• NMDC 2006 audited financial results - 29 Mar 2007
• OILC BOD proposes no dividend and 10:1 stock split - 29 Mar 2007
• RAK White Cement AGM results 29 Mar 2007 - 15% cash dividend approved, record date 05 Apr 2007?
• SHUAA - ESCA drops enquiry, KSE regulator says no wrongdoing 29 Mar 07
• TAMWEEL 2006 audited financial accounts - 29 Mar 2007
• UNION AGM approves 10% bonus shares - 29 Mar 2007, record date 15 Apr 2007?
• Iran fears haven't dented boom in the Gulf ... yet - R 27 Mar 2007

More UAE stock market news and discussions..

Dubai and Abu Dhabi stock market report 29 March 2007

best stock rises symbol price change RAKCEC 4.44 +0.33 +8% OILC 9.81 +0.69 +7.6% TKFL 3.82 +0.20 +5.5% JULPHAR 1.83 +0.08 +4.6% UNION 2.20 +0.09 +4.3%

worst stock falls symbol price change AMAN 15.55 -2.30 -12.9% NBF 4.45 -0.49 -9.9% FH 7.31 -0.80 -9.9% NMDC 4.00 -0.29 -6.8% ASMAK 4.70 -0.29 -5.8%

top volume symbol value (AED) price EMAAR 213,592,041 11.05 DIB 72,729,921 6.53 OILC 64,868,649 9.81 DFM 56,775,183 2.11 AMLAK 39,382,267 3.16

Dubai Financial Market

The DFMGI finished the week and the month of March at a depressing 3727 points, down 0.5% today after a late sharp rise and even sharper fall. Volumes getting low at 500m dhs worth of trading.

DIB was the winner today with a 1.6% rise to 6.52 on good volume of 73m dhs worth of trading. Other rises from National Bank of Dubai (NBD) up 1.1%, Shuaa Capital PJSC (SHUAA) up 1.2%, and Arabtec Holding PJSC (ARTC) up 0.2%.

AMAN hit the floor with a 13% fall on strong volumes (16m dhs of trading), knocking the wind out of its soaring share price in the past couple of weeks. Today's press release from them says nothing about dividends, or the AED 14m loss for 2006.

Emaar Properties PJSC (EMAAR) was down by a mere 0.5% to 11.05 from 214m dhs of trading - unusually, less than half the total for DFM today.

Other notable losses of 2.5% for Amlak Finance Company (AMLAK), 1.9% for GULFNAV, 1.5% for Islamic Arab Insurance Company PSC (IAIC), and 1.5% for Aramex PJSC (ARMX).

Abu Dhabi Securities Market

ADSM also fell, down by 0.5% to 2884 on moderate volume of 188 dhs by value.

Oasis International Leasing Company PJSC (OILC) has to be the most curious stock of the day, almost hitting limit up on huge volumes of 65m dhs worth, but why? Splendid days also for Ras Al Khaimah Ceramics (RAKCEC), up by 8% but on much lower volumes, and TKFL up 5.5% also from low volume. Emirates Telecommunications Company (ETISALAT) was up slightly by 0.3%, other increases were small or trivial volumes.

Big falls from Abu Dhabi Commercial Bank (ADCB) down by 3.4% and high volumes, and AGTHIA down by 3.3%. ARKAN was down by 1.7% on decent volume, and Aldar Properties PJSC (ALDAR) down by 1% on moderate volumes. Other movements were less significant.

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

AGMs and EGMs (E&OE) this week

• ADAVIATION AGM 28 Mar 2007 - 20% cash dividend approved, record date 05 Apr 2007?
• ADNIC audited 2006 financial results - 29 Mar 2007
• AHI AGM Wed 28 Mar 2007 - 22% cash dividend approved
• AMAN AGM 28 Mar 2007 -
• AMAN 2006 audited financial accounts - 29 Mar 2007
• AMLAK AGM 29 Mar 2007 -
• ARIG AGM Thu 29 Mar 2007 - 10% cash dividend approved
• ARKAN audited 2006 financial results - 29 Mar 2007
• ASNIC AGM 28 Mar 2007 -
• ETISALAT AGM Mon 26 Mar 2007 - 35% cash, 10% share dividend approved
• FBICO AGM 29 Mar 2007 - 25% share dividend approved (AGM postponed from 26 Mar 2007)
• FOODCO audited 2006 financial results - 29 Mar 2007
• GCEM AGM 28 Mar 2007 - 15% cash and 15% share dividend approved
• RAKPROP Thu 29 Mar 2007 - 7.5% cash dividend proposed. AGM postponed from 22 Mar 2007.
• RAKWCT AGM 28 Mar 2007 - 15% cash dividend approved, AGM postponed from 21 Mar 2007.
• SICO audited 2006 financial results - 29 Mar 2007
• TABREED AGM 19 Apr 2007 - postponed from 20 Mar 2007, and then from 27 Mar 2007
• UNION AGM 28 Mar 2007 - postponed from 21 Mar 2007

AGMs & EGMs next week

• AKIC AGM 01 Apr 2007
• ADSB AGM Mon 02 April 2007 - 10% cash dividend proposed?
• NBF AGM Mon 02 Apr 2007 - 10% share dividend and 10% cash dividend proposed?
• TAMWEEL AGM & EGM 31 Mar 2007 - 20% cash (or share?) dividend, increase in foreign ownership limit.

Dividend Record Dates - last trading day (LTD) two days before Record Date (E&OE)

• DNIR record date 29 Mar 2007 - 30% cash dividend approved, LTD 27 Mar 2007 (DFM site)
• EIB record date 29 Mar 2007 - 15% share dividend, LTD 27 Mar 2007 (DFM site)
• FCI record date 28 Mar 2007 - 25% cash dividend approved, LTD 26 Mar 2007
• GGICO record date 02 Apr 2007 - maybe
• JULPHAR 29 Mar 2007? - 10% cash dividend approved, LTD 27 Mar 2007?
• NBD Record Date 29 Mar 2007 - LTD 27 Mar 2007 confirmed in NBD disclosure - 40% cash & 20% share dividend proposed
• QCEM record date 28 Mar 2007 - 10% cash dividend approved, LTD 26 Mar 2007
• RAKPROP AGM Thu 29 Mar 2007 - 7.5% cash dividend proposed. Record date?
• TKFL record date 28 Mar 2007 - LTD 26 Mar 2007

Last Trading Days next week - Record Date is two days after (E&OE)

• ETISALAT last trading day Sun 01 Apr 2007
• GMPC last trading day Sun 01 Apr 2007
• SOROUH last trading day Sun 01 Apr 2007 (or possibly 03 Apr 2007 see discussion topic)

DFM up ADSM down UAE markets 28 Mar 2007

UAE markets Wednesday 28 March 2007 Today's report is written just before the markets close so final numbers may be a little different. Annual General Meetings today for AHI, ASNIC, AMAN, GCEM, RAKWCT, UNION. AGMs tomorrow for AMLAK, ARIG, FBICO, RAKPROP. Shares ex-dividend today ARIG, JULPHAR, NBD, DNIR, EIB. Shares ex-dividend tomorrow ADNIC. Last trading day for dividend entitlements today ADNIC. Tomorrow GGICO. Do not act on this information before confirming it first with the market.

UAE market news & discussions for 28 March 2007

• AGTHIA Emirates Food & Mineral Water 2006 audited financials 28 Mar 07
• AMLAK 2006 audited financial results announced 28 Mar 2007
• ARKAN AGM 23 Apr 2007 and 7% cash dividend proposed - 28 Mar 07
• ASNIC Annual General Meeting today 28 Mar 2007
• DANA Gas - Emarat pipeline project more news on ESCA site - 28 Mar 2007
• GRAND Real Estate BOD meeting 31 Mar 2007 - DFM 28 Mar 2007
• SHUAA raises stake in Qatar's Amwal to 47% - PR 28 Mar 2007
• DU gets 4400 job applications at Careers UAE 2007 - PR 28 Mar 2007
• AGTHIA 2006 FY AED 29.1m up 1.5% from 2005 - 31 Jan 2007
• WARE - judgement in Kamal Mustafa vs BOD appeal - 28 Mar 2007
• DIB IT services MoU with Dubai World and Wipro Infotech - PR 27 Mar 07
• EBI in the news 27 Mar 2007?
• Dana Gas, Emarat Sign Agreement - 04 Jan 2006
• JBR Jumeirah Beach Residence - move in from 28 Mar 07
• Iran fears haven't dented boom in the Gulf ... yet - R 27 Mar 2007

More UAE stock market news and discussions..

Dubai and Abu Dhabi stock market report 28 March 2007

best stock rises symbol price change MAZAYA 8.62 +1.12 +14.9% RAKCEC 4.26 +0.38 +9.8% ABNIC 8.80 +0.60 +7.3% NMDC 4.30 +0.28 +7% ASMAK 5.24 +0.29 +5.9%

worst stock falls symbol price change SALAM 16.70 -2.85 -14.6% CBI 2.43 -0.27 -10% JULPHAR 1.77 -0.09 -4.8% DNIR 3.04 -0.15 -4.7% FH 8.00 -0.35 -4.2%

top volume symbol value (AED) price EMAAR 253,239,280 11.05 DFM 52,377,718 2.13 DIB 47,887,402 6.37 AMLAK 41,375,492 3.21 ARKAN 32,058,532 1.16

Dubai Financial Market

The DFM index gained about 1% today to close at about 3730. Healthy rises for Amlak Finance Company (AMLAK) up 3.5%, Emaar Properties PJSC (EMAAR) up 2.8%, Dubai Islamic Bank (DIB) up 2.6%, and Tamweel PJSC (TAMWEEL) up 2.7%.

National Bank of Dubai (NBD) down 4.4% - ex-dividend today, no other major losses on DFM.

Abu Dhabi Securities Market

ADSM index down 0.3% to about 2900, trading volumes about 175m dhs, despite some good rises on strong volumes for several stocks.

Aabar Petroleum Investments Company PJSC (AABAR) up 2.7%, ARKAN up 5.4% on very large volume, AGTHIA up 3.4%, Sorouh Real Estate (SOROUH) up 0.7% on solid volumes.

Abu Dhabi Commercial Bank (ADCB) down 3.1%, National Bank of Abu Dhabi (NBAD) down 2.7%, other losses small or low volumes.

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

AGMs and EGMs (E&OE) this week

• AHI AGM Wed 28 Mar 2007 - 22% cash dividend proposed
• AMAN AGM 28 Mar 2007 -
• AMLAK AGM 29 Mar 2007 -
• ARIG AGM Thu 29 Mar 2007 - 10% cash dividend proposed
• ASNIC AGM 28 Mar 2007 -
• ETISALAT AGM Mon 26 Mar 2007 - 35% cash, 10% share dividend approved
• FBICO AGM 29 Mar 2007 - 25% share dividend proposed (AGM postponed from 26 Mar 2007)
• GCEM AGM 28 Mar 2007 - 15% cash and 15% share dividend proposed
• RAKPROP Thu 29 Mar 2007 - 7.5% cash dividend proposed. AGM postponed from 22 Mar 2007.
• RAKWCT AGM 28 Mar 2007 - 15% cash dividend proposed, AGM postponed from 21 Mar 2007.
• TABREED AGM Tue 27 Mar 2007 - lack of quorum, postponed from 20 Mar 2007
• UNION AGM 28 Mar 2007 - postponed from 21 Mar 2007

AGMs & EGMs next week

• AKIC AGM 01 Apr 2007
• ADSB AGM Mon 02 April 2007 - 10% cash dividend proposed?
• NBF AGM Mon 02 Apr 2007 - 10% share dividend and 10% cash dividend proposed?

Dividend Record Dates - last trading day (LTD) two days before Record Date (E&OE)

• DNIR record date 29 Mar 2007 - 30% cash dividend approved, LTD 27 Mar 2007 (DFM site)
• EIB record date 29 Mar 2007 - 15% share dividend, LTD 27 Mar 2007 (DFM site)
• FCI record date 28 Mar 2007 - 25% cash dividend approved, LTD 26 Mar 2007
• GGICO record date 02 Apr 2007 - maybe
• JULPHAR 29 Mar 2007? - 10% cash dividend approved, LTD 27 Mar 2007?
• NBD Record Date 29 Mar 2007 - LTD 27 Mar 2007 confirmed in NBD disclosure - 40% cash & 20% share dividend proposed
• QCEM record date 28 Mar 2007 - 10% cash dividend approved, LTD 26 Mar 2007
• RAKPROP AGM Thu 29 Mar 2007 - 7.5% cash dividend proposed. Record date?
• TKFL record date 28 Mar 2007 - LTD 26 Mar 2007

Last Trading Days next week - Record Date is two days after (E&OE)

• ETISALAT last trading day Sun 01 Apr 2007
• GMPC last trading day Sun 01 Apr 2007
• SOROUH last trading day Sun 01 Apr 2007 (or possibly 03 Apr 2007 see discussion topic)

DFM and ADSM fall on low volume 27 Mar 2007

UAE markets Tuesday 27 March 2007 One answer to the question of why the UAE markets are still in the doldrums may be the UAE's poor rating on a worldwide Investor Protection Index that the DFSA CEO was talking about yesterday. Perhaps India will come to the rescue - an MoU was signed between the UAE and Indian regulatory authorities. There are problems with the stock market listing for Emaar-Misr in Egypt. Shuaa Capital gives a sort of profit warning and makes no comment when asked if there's a takeover possibility. And finally (in both senses of the word), Tabreed announces its AGM for 19 April 2007. Shares ex-dividend tomorrow could be ARIG, JULPHAR, NBD, DNIR, EIB. Last trading day tomorrow for dividend entitlement could be ADNIC. AGMs tomorrow for AHI, AMAN, GCEM, RAKWCT, UNION. Do not act on this information before confirming it first with the market.

UAE market news & discussions for 27 March 2007

• AKIC Al Khazna Insurance announces AGM on 01 Apr 2007 again
• ARTC AED 500m JXB drainage deal with Malaysia's WCT - 27 Mar 07
• ASCANA Annual General Meeting results - DFM 27 Mar 2007
• DANA Gas - Emarat pipeline project progressing? GN 27 Mar 2007
• DIB sukuk certificates get A1 rating from Moodys - GN 24 Feb 2007
• Etisalat 26 Mar 2007 AGM approves 10% bonus shares - 27 Mar 2007
• FTC 2006 FY results
• GMPC 26 Mar AGM approve 20.879% bonus shares - 27 Mar 2007
• NBD joins long list of Best Banks in the UAE - PR 27 Mar 2007
• SOROUH - Reem Island infrastructure making progress - PR 27 Mar 2007
• UAE ranks lowest out of Gulf countries for investor protection - 27 Mar 07
• Iran fears haven't dented boom the Gulf ... yet - R 27 Mar 2007
• Banque de Commerce et de Placements gets DIFC license PR 27 Mar 2007
• DME approves 20 members before 01 May 2007 launch - AB 27 Mar 2007
• Stock Picks by Technical Analysis March 2007

More UAE stock market news and discussions..

Dubai and Abu Dhabi stock market report 27 March 2007

best stock rises symbol price change ASMAK 4.95 +0.45 +10% RAKBANK 6.24 +0.54 +9.5% MAZAYA 7.44 +0.61 +8.9% CBI 2.70 +0.16 +6.3% JULPHAR 1.86 +0.09 +5.1%

worst stock falls symbol price change FCI 4.05 -0.44 -9.8% OEIHC 16.80 -1.60 -8.7% SCIDC 3.34 -0.23 -6.4% EBI 9.54 -0.48 -4.8% ADNIC 8.09 -0.41 -4.8%

top volume symbol value (AED) price EMAAR 154,789,164 10.75 DFM 38,940,482 2.08 ALDAR 38,327,554 4.16 DIB 34,679,389 6.17 AMLAK 15,835,043 3.12

Dubai Financial Market

A wobbly day for the DFMGI, which ended up falling by 0.3% to 3690. Traded volumes were relatively low at just 324m dhs, just under half of that from trading in Emaar shares which dipped slightly by 0.5% to 10.75.

Only two small rises on any material volumes, Dubai Investments PJSC (DIC) up 0.5% to 4.19 and Dubai Islamic Bank (DIB) up 0.8% to 6.20. MAZAYA and Commercial Bank of Dubai (CBD) had big pops but from just three deals in total.

GULFNAV, Shuaa Capital PJSC (SHUAA), Union Properties PJSC (UPP), National General Cooling Company PJSC (TABREED) and Islamic Arab Insurance Company PSC (IAIC) were unchanged. Amlak Finance Company (AMLAK), Tamweel PJSC (TAMWEEL), Arabtec Holding PJSC (ARTC), Aramex PJSC (ARMX), Emirates Integrated Telecommunications Company (DU), DFM and National Bank of Dubai (NBD) all fell less than 1%. AMAN the most significant loser today with a 1.7% fall to 17.60 from 10.6m dhs of trading.

Abu Dhabi Securities Market

A little more depressing at ADSM with a 0.8% fall to 2909. Volumes subdued but not that low, total traded value was 124m dhs.

Big trading again for Aldar Properties PJSC (ALDAR) - almost half the total value for ADSM, and a 1.7% fall to 4.16. Second most heavily traded share was Abu Dhabi Commercial Bank (ADCB) going ex-dividend today, its 3.7% fall less than expected considering the dividend yield was about 5%.

Other falls on tangible volumes were 4.8% for ADNIC, 1.3% for First Gulf Bank (FGB) and Gulf Cement Company (GCEM), 1.8% for National Bank of Abu Dhabi (NBAD), 1.6% for Ras Al Khaimah Cement Company (RAKCC), and a rather disagreeable 6.4% for Sharjah Cement & Industrial Development Company (SCIDC). Other falls were on trivial volumes or less than 1% for the more active stocks.

There were few rises of any note. The only two with traded value over 1m dhs and greater than 1% rises were NBS (or SIB) up 1.5% and Gulf Pharmaceutical Industries (JULPHAR) up 1.7%. ARKAN, Sorouh Real Estate (SOROUH), Sudan Telecom Company Ltd (SUDATEL) and Union National Bank (UNB) all rose less than 1%.

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

AGMs and EGMs (E&OE) this week

• AHI AGM Wed 28 Mar 2007 - 22% cash dividend proposed
• AMAN AGM 28 Mar 2007 -
• AMLAK AGM 29 Mar 2007 -
• ARIG AGM Thu 29 Mar 2007 - 10% cash dividend proposed
• ASCANA AGM 26 Mar 2007 - postponed from 20 Mar 2007
• ETISALAT AGM Mon 26 Mar 2007 - 35% cash, 10% share dividend approved
• FBICO AGM 29 Mar 2007 - 25% share dividend proposed (AGM postponed from 26 Mar 2007)
• GCEM AGM 28 Mar 2007 - 15% cash and 15% share dividend proposed
• GGICO AGM Sun 25 Mar 2007 - 30% share dividend proposed?
• GMPC AGM Mon 26 Mar 2007 - 20.879% bonus shares approved
• PALTEL AGM Sun 25 Mar 2007 - 20% cash dividend proposed
• RAKPROP Thu 22 Mar 2007 - 7.5% cash dividend proposed
• RAKWCT AGM 28 Mar 2007 - 15% cash dividend proposed, AGM postponed from 21 Mar 2007.
• SALAM AGM 20 Mar 2007 - changed from 11 Mar 2007, 10% cash dividend proposed
• SOROUH AGM Sun 25 Mar 2007 - postponed from 18 Mar 2007
• TABREED AGM Tue 27 Mar 2007 - lack of quorum, postponed from 20 Mar 2007
• UNION AGM 28 Mar 2007 - postponed from 21 Mar 2007

Dividend Record Dates - last trading day (LTD) two days before Record Date (E&OE)

• ALLIANCE record date 25 Mar 2007 - LTD 21 Mar 2007
• AWNIC record date 27 Mar 2007? - 10% cash dividend approved, LTD 25 Mar 2007
• DNIR record date 29 Mar 2007 - 30% cash dividend approved, LTD 27 Mar 2007 (DFM site)
• EIB record date 29 Mar 2007 - 15% share dividend, LTD 27 Mar 2007 (DFM site)
• FCI record date 28 Mar 2007 - 25% cash dividend approved, LTD 26 Mar 2007
• JULPHAR 29 Mar 2007? - 10% cash dividend approved, LTD 27 Mar 2007?
• MAZAYA AGM Wed 21 Mar 2007 - 10% share & 50% cash dividends proposed. Perhaps. Record Date unknown
• NBAD record date 26 Mar 2007 - (not 22 Mar 2007)
• NBD Record Date 29 Mar 2007 - LTD 27 Mar 2007 confirmed in NBD disclosure - 40% cash & 20% share dividend proposed
• QCEM record date 28 Mar 2007 - 10% cash dividend approved, LTD 26 Mar 2007
• RAKPROP AGM Thu 22 Mar 2007 - 7.5% cash dividend proposed. Record date?
• SICO record date 26 Mar 2007? - 20% cash dividend approved, LTD 22 Mar 2007
• TKFL record date 28 Mar 2007 - LTD 26 Mar 2007

DFM recovers slightly 26 Mar 2007

UAE markets Monday 26 March 2007 A busy couple of days with a Middle East IPO summit going on where Tamweel blew its own trumpet, and then another ME investment junket where Al Dar Properties announced a 3.7 billion dh shopping trip (among several other bits of Aldar news today), and the CEO said the Aldar founders weren't selling their shares - Aldar share price in the last couple of weeks seems to indicate otherwise. Oger Telecom might do an IPO after all - not till 2008 though. A useful report came out yesterday from EFG-Hermes about the NBD/EBI merger. And we got yet another reminder that the Air Arabia IPO closes tomorrow (Tue 27 Mar 2007) but nothing concrete on how it's gone so far. Please return your seats to the upright position. Last trading day tomorrow for dividend entitlement for ARIG, JULPHAR, NBD. Ex-dividend tomorrow are ADCB, TKFL, QCEM, FCI. (confirm this information with your broker or market before acting on it).

UAE market news & discussions for 26 March 2007

• ADNIC AGM 25 Mar 2007 approves 50% cash dividend - LTD Wed 28 Mar 2007?
• ALLIANCE 20% bonus shares in accounts - DFM 26 Mar 2007
• ASMAK postpones AGM till 22 April 2007 - ADSM 26 Mar 2007
• CBI launches CBI Link, a flash new Customer Contact Center PR 25 Mar 07
• DRIVE AGM on 17 April 2007 - ADSM 26 Mar 2007 (again)
• DDC AGM - apparently on 31?? April 2007
• EFG-Hermes retail clients can now trade on DIFX - 25 Mar 2007
• GGICO AGM results 26 Mar 2007
• NBAD bond price adjustment - ADSM 26 Mar 2007
• NRE National Real Estate BOD meeting 29 Mar 2007 - DFM 26 Mar 2007
• OILC BOD meeting 28 Mar 2007 - to discuss AGM/EGM dates and other (unspecified) matters.
• PALTEL Palestine Telecommunication 2007 audited financial results - 26 Mar 2007
• PALTEL AGM approves 20% cash dividend - 26 Mar 2007
• RAK Properties AGM postponed till Thu 29 Mar 2007
• SOROUH 10% cash dividend approved 26 Mar 2007 - last trading day 01 Apr 2007
• SOROUH to issue Islamic Bonds or Sukuks - EGM 25 Mar 2007
• TAQA assets to increase 43% to AED 73 bn by 2008 - GN 26 Mar 2007
• UFC United Foods Company AGM 14 Apr 2007 - DFM 26 Mar 2007
• Dubai and DIFC irrelevant says Hong Kong's Donald Tsang - 15 Mar 2007
• Stock Picks by Technical Analysis March 2007
• Sheikh Mohammed visit to India 25-26 Mar 2007
• When will recent downward trend end?!
• TNI - founder shares AMLAK, AABAR, ARMX, ALDAR, ARTC, FH - PR 27 Feb 07
• Middle East Investment Summit - Reuters 25-27 Mar 2007
• DAMAC looking to invest in Europe and the US - R 26 Mar 2007
• DIFX waiting for government asset sales & stabilized markets R 26 Mar 07
• DAMAC calls on Dubai government to curb rising construction costs 26 Mar 07
• Stock Picks by Technical Analysis March 2007
• DIB Sukuk lists on DIFX to make it largest Sukuk exchange - PR 26 Mar 07
• Dubai Bank AED 1 bn capital increase announcement .. again - PR 26 Mar 07
• DFSA Chairman talks about shareholder conference at IPO summit 26 Mar 07
• IFA Hotels & Resorts AED 275m JV with O&L Group in Namibia
• DME jet fuel futures by end 2007, oil futures by 01 May 2007? - R 25 Mar 07
• ALDAR unveils Noor Al Ain redevelopment plans - PR 26 Mar 2007
• Al Maabar set up by ALDAR, SOROUH, Al Reem, Al Qudra - GN 01 Mar 07
• DIC subsidiary Dubai Cranes starts operations - PR 26 Mar 2007
• DAMAC Lake Terrace structure in JLT complete - PR 15 Mar 2007
• Damac - AED 60 bn Gamsha Bay development in Egypt - 06 Dec 2006
• DAMAC The Heights, Lofts, Courtyard in Abdali area, Jordan - PR 21 Mar 07
• DAMAC AED 1 bn Lincoln Park in Dubailand - GN 26 Mar 2007
• IPOs in the Gulf region 2007 Q1 total AED 3.2 bn - GN 26 Mar 2007

More UAE stock market news and discussions..

Dubai and Abu Dhabi stock market report 26 March 2007

best stock rises symbol price change FOODCO 3.50 +0.32 +10.1% ADSB 2.71 +0.20 +8% AMAN 17.85 +0.85 +5% FH 8.35 +0.38 +4.8% AGTHIA 1.18 +0.05 +4.4%

worst stock falls symbol price change ASMAK 4.50 -0.49 -9.8% RAKBANK 5.70 -0.61 -9.7% MAZAYA 6.89 -0.41 -5.6% SCIDC 3.57 -0.20 -5.3% CBD 6.52 -0.30 -4.4%

top volume symbol value (AED) price EMAAR 302,782,289 10.75 DIB 110,383,207 6.20 AMLAK 57,219,674 3.14 ETISALAT 56,103,191 16.80 DFM 52,888,034 2.06

Dubai Financial Market

DFM was up by 0.7% to 3701 after a rocky day, trading volume an average 685m dhs. A bit of a relief after yesterday's unnerving fall. All the actively traded stocks rose except for Shuaa Capital PJSC (SHUAA) which fell marginally to 4.20. You'd hesitate to call National Bank of Dubai (NBD) an actively traded stock but traded value today was more than Shuaa Capital, although it stayed flat at 10.95 dhs.

Best rises from DFM share up 3.5% to 2.09 from a decent 53m dhs of trading, and AMAN up 5% to 17.90. Emaar Properties PJSC (EMAAR) was up 1.9% to 10.80 with 301m dhs of trading. Other rises were about 2% or less.

Abu Dhabi Securities Market

ADSM down by 0.2% to 2933 points, trading volume a decent 214m dhs with big trading in Ras Al Khaimah Properties PJSC (RAKPROP) and Emirates Telecommunications Company (ETISALAT) but unchanged prices, and even bigger volumes for Aldar Properties PJSC (ALDAR) with a slight fall of 0.7% to 4.23. You could conclude that the expiry of the founder share lock in period is having an effect, but the CEO said today that founder shares were not being sold.

Although the ADSM fell overall, most of the actively traded stocks headed up, albeit only slightly. AGTHIA had a busy day and a solid 4.4% rise to 1.18. Sudan Telecom Company Ltd (SUDATEL) was up by 3.4% to 8.57 and the remaining rises on reasonable volumes were less than 2%.

First Gulf Bank (FGB) had a 0.9% fall on strong volumes to 11.55. Abu Dhabi Islamic Bank (ADIB), Ras Al Khaimah Cement Company (RAKCC), Union National Bank (UNB), and Gulf Cement Company (GCEM) were the only other falls on any sort of significant volume - all falling by 1% or less.

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

AGMs and EGMs (E&OE) this week

• AHI AGM Wed 28 Mar 2007 - 22% cash dividend proposed
• ADNIC AGM Sun 25 Mar 2007 - 50% cash dividend approved
• AMAN AGM 28 Mar 2007 -
• AMLAK AGM 29 Mar 2007 -
• ARIG AGM Thu 29 Mar 2007 - 10% cash dividend proposed
• ASCANA AGM 26 Mar 2007 - postponed from 20 Mar 2007
• ETISALAT AGM Mon 26 Mar 2007 - 35% cash, 10% share dividend proposed
• FBICO AGM 29 Mar 2007 - 25% share dividend proposed (AGM postponed from 26 Mar 2007)
• GCEM AGM 28 Mar 2007 - 15% cash and 15% share dividend proposed
• GGICO AGM Sun 25 Mar 2007 - 30% share dividend proposed?
• PALTEL AGM Sun 25 Mar 2007 - 20% cash dividend proposed
• RAKPROP Thu 22 Mar 2007 - 7.5% cash dividend proposed, AGM postponed to 29 Mar 2007.
• RAKWCT AGM 28 Mar 2007 - 15% cash dividend proposed, AGM postponed from 21 Mar 2007.
• SALAM AGM 20 Mar 2007 - changed from 11 Mar 2007, 10% cash dividend proposed
• SOROUH AGM Sun 25 Mar 2007 - postponed from 18 Mar 2007
• TABREED AGM Tue 27 Mar 2007 - lack of quorum, postponed from 20 Mar 2007
• UNION AGM 28 Mar 2007 - postponed from 21 Mar 2007

Dividend Record Dates - last trading day (LTD) two days before Record Date (E&OE)

• ADCB record date 28 Mar 2007 - LTD 26 Mar 2007
• ADNIC record date 01 Apr 2007 - LTD Wed 28 Mar 2007?
• ALLIANCE record date 25 Mar 2007 - LTD 21 Mar 2007
• ARIG record date Thu 29 Mar 2007 - 10% cash dividend proposed, LTD Tue 27 Mar 2007
• AWNIC record date 27 Mar 2007? - 10% cash dividend approved, LTD 25 Mar 2007
• DNIR record date 27 Mar 2007 - 30% cash dividend approved, LTD 25 Mar 2007
• EIB record date 27 Mar 2007? - 15% share dividend, LTD 25 Mar 2007
• FCI record date 28 Mar 2007 - 25% cash dividend approved, LTD 26 Mar 2007
• JULPHAR 29 Mar 2007? - 10% cash dividend approved, LTD 27 Mar 2007?
• MAZAYA AGM Wed 21 Mar 2007 - 10% share & 50% cash dividends proposed. Perhaps. Record Date unknown
• NBAD record date 26 Mar 2007 - (not 22 Mar 2007)
• NBD Record Date 29 Mar 2007 - LTD 27 Mar 2007 confirmed in NBD disclosure - 40% cash & 20% share dividend proposed
• QCEM record date 28 Mar 2007 - 10% cash dividend approved, LTD 26 Mar 2007
• RAKPROP AGM Thu 22 Mar 2007 - 7.5% cash dividend proposed. Meeting postponed.
• SICO record date 26 Mar 2007? - 20% cash dividend approved, LTD 22 Mar 2007
• TKFL record date 28 Mar 2007 - LTD 26 Mar 2007

DFM and ADSM crash - 25 Mar 2007

UAE markets Sunday 25 March 2007 A good day for confusion today, as both ADSM and DFM dropped - partly due to adjustments after several companies went ex-dividend. Abraaj Capital was reported as buying a significant stake in the Air Arabia IPO (which closes Tuesday this week), which some thought meant an additional stake on top of their 6% as a co-founder. In India, EMAAR-MGF denied reports that they'd sold 5% to Deutsche Bank, and TABREED postponed their AGM again. The less confusing news department included an announcement that DFM would move to Business Bay in 2009. ARTC bailed out of a deal with Dubai Construction Company, and instead said they'd set up a Joint Venture to build the Karachi Financial Towers.

UAE market news & discussions for 25 March 2007

• ARTC - Arabtec audited financial statements 25 Mar 2007
• BAYAN audited financial statements - 25 Mar 2007
• NMDC 15% cash dividend proposed and 15 Apr 2007 AGM - 25 Mar 2007
• NBAD shares ex-dividend today, record date 26 Mar 2007
• GLOBAL sells stake in Kazema Holding for AED 108m - DFM 25 Mar 2007
• GGICO 2006 FY results out 29 Jan 2007
• Dubai facing property correction like Singapore or Hong Kong? 15 Jan 07
• UPP, Green Community and Corporate Governance - GN 25 Mar 2007
• EMAAR Economic City appoints Dr Abdulraouf Mannaa as MD - PR 21 Mar 07
• 2007 financial forecasts - UAE companies list
• Sukuks - Islamic Bonds forum in Dubai 25 April 2007 - PR 24 Mar 2007

More UAE stock market news and discussions..

Dubai and Abu Dhabi stock market report 25 March 2007

best stock rises symbol price change ADNH 5.14 +0.37 +7.8% NBF 4.94 +0.33 +7.2% AMAN 16.60 +1.05 +6.8% DNIR 3.19 +0.15 +4.9% NCC 12.20 +0.55 +4.7%

worst stock falls symbol price change RAKBANK 6.31 -0.69 -9.9% ADSB 2.51 -0.27 -9.7% BOS 2.07 -0.21 -9.2% NBAD 17.10 -1.59 -8.5% FOODCO 3.22 -0.26 -7.5%

top volume symbol value (AED) price EMAAR 401,919,797 10.75 DIB 61,346,126 6.24 DFM 55,450,634 2.04 AMLAK 35,569,586 3.13 DIC 31,444,467 4.15

Dubai Financial Market

The DFMGI took a heavy hit today, dropping by an unpleasantly large 2.7% to 3676 on moderate volume of 704m dhs of trading. Making Thursdays 1.2% fall look rather insignificant now.

AMAN was the only stock to rise on significant volume, up by a solid 6.6% to 17.05.

All the more active shares fell, with the worst falls for Tamweel PJSC (TAMWEEL) down 6% to 3.27, Dubai Islamic Bank (DIB) down 5.9% to 6.10, and Shuaa Capital PJSC (SHUAA) down 4.8% to 4.21. Other falls not quite so dramatic for Amlak Finance Company (AMLAK) down 3.1% to 3.08, Aramex PJSC (ARMX) down 3.5%, National General Cooling Company PJSC (TABREED) down 3.1% and Emaar Properties PJSC (EMAAR) down 2.8% to 10.60 from 402m dhs of trading.

Abu Dhabi Securities Market

It was almost as bad at ADSM today with a 1.8% fall to 2939, although trading volumes were more moderate at only 128m dhs.

Only 8 stocks traded up today, with Ras Al Khaimah Cement Company (RAKCC) the only one rising on any decent sort of volume - up by 1.6% to 1.96.

Biggest fall of note was for National Bank of Abu Dhabi (NBAD) down 8.5% to 17.10 (from ex-share dividend price of 18.69), dropping much more than the expected 1.6% adjustment for the cash dividend. Other falls from Aabar Petroleum Investments Company PJSC (AABAR) down 4.3%, Abu Dhabi National Company for Building Materials (BILDCO) down 2.9%, Abu Dhabi Islamic Bank (ADIB) down 2.6%, ARKAN down 3.6%, Union National Bank (UNB) down 3.2%, Abu Dhabi National Energy Company (TAQA) down 2.5%, Dana Gas PJSC (DANA) down 2.9%, Gulf Cement Company (GCEM) down 2.4%, and Bank Of Sharjah (BOS) down 9.2%.

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

AGMs and EGMs (E&OE) this week

• AHI AGM Wed 28 Mar 2007 - 22% cash dividend proposed
• AMAN AGM 28 Mar 2007 -
• AMLAK AGM 29 Mar 2007 -
• ARIG AGM Thu 29 Mar 2007 - 10% cash dividend proposed
• ASCANA AGM 26 Mar 2007 - postponed from 20 Mar 2007
• ETISALAT AGM Mon 26 Mar 2007 - 35% cash, 10% share dividend proposed
• FBICO AGM 29 Mar 2007 - 25% share dividend proposed (AGM postponed from 26 Mar 2007)
• GCEM AGM 28 Mar 2007 - 15% cash and 15% share dividend proposed
• GGICO AGM Sun 25 Mar 2007 - 30% share dividend proposed?
• PALTEL AGM Sun 25 Mar 2007 - 20% cash dividend proposed
• RAKPROP Thu 22 Mar 2007 - 7.5% cash dividend proposed
• RAKWCT AGM 28 Mar 2007 - 15% cash dividend proposed, AGM postponed from 21 Mar 2007.
• SALAM AGM 20 Mar 2007 - changed from 11 Mar 2007, 10% cash dividend proposed
• SOROUH AGM Sun 25 Mar 2007 - postponed from 18 Mar 2007
• TABREED AGM Tue 27 Mar 2007 - lack of quorum, postponed from 20 Mar 2007
• UNION AGM 28 Mar 2007 - postponed from 21 Mar 2007

Dividend Record Dates - last trading day (LTD) two days before Record Date (E&OE)

• ALLIANCE record date 25 Mar 2007 - LTD 21 Mar 2007
• AWNIC record date 27 Mar 2007? - 10% cash dividend approved, LTD 25 Mar 2007
• DNIR record date 27 Mar 2007 - 30% cash dividend approved, LTD 25 Mar 2007
• EIB record date 27 Mar 2007? - 15% share dividend, LTD 25 Mar 2007
• FCI record date 28 Mar 2007 - 25% cash dividend approved, LTD 26 Mar 2007
• JULPHAR 29 Mar 2007? - 10% cash dividend approved, LTD 27 Mar 2007?
• MAZAYA AGM Wed 21 Mar 2007 - 10% share & 50% cash dividends proposed. Perhaps. Record Date unknown
• NBAD record date 26 Mar 2007 - (not 22 Mar 2007)
• NBD Record Date 29 Mar 2007 - LTD 27 Mar 2007 confirmed in NBD disclosure - 40% cash & 20% share dividend proposed
• QCEM record date 28 Mar 2007 - 10% cash dividend approved, LTD 26 Mar 2007
• RAKPROP AGM Thu 22 Mar 2007 - 7.5% cash dividend proposed. Record date?
• SICO record date 26 Mar 2007? - 20% cash dividend approved, LTD 22 Mar 2007
• TKFL record date 28 Mar 2007 - LTD 26 Mar 2007

AGMs, Record Dates, news 24 Mar 2007

UAE markets Saturday 24 March 2007 UAE markets closed but a few news items. And last trading day tomorrow, Sunday 25 Mar 2007, for some stocks including AWNIC, DNIR, EIB. See list below of AGMs and record dates coming up this week.

UAE market news & discussions for 24 March 2007

• Air Arabia IPO - Abraaj Capital founder has 6% stake - PR 24 Mar 2007
• Arbuthnot Securities becomes DIFX member - 24 Mar 2007
• ARTC - no deal with Dubai Contracting Company (DCC) - 24 Mar 2007
• ARTC JV with AMN Mauritius for Pakistan and Karachi Towers - PR 24 Mar 07
• CBD 2007 FY profit - revenue forecast to rise 25% GDN 24 Mar 07
• DANA Gas appoints Salah Al Huzami to run Al Khobar office PR 24 Mar 07
• DIB completes issue of 2012 Sukuk worth AED 2.75 bn - GN 17 Mar 2007
• Dubai and DIFC irrelevant says Hong Kong's Donald Tsang - 23 Mar 2007
• EMAAR Economic City appoints Dr Abdulraouf Mannaa as MD - PR 21 Mar 07
• EMAAR ground breaking for Bundal & Buddo Islands soon - KT 24 Mar 07
• EMAAR SZ road office hosts Dubai Land Department registry PR 22 Mar 07
• KSE Karachi Stock Exchange IPO in Dubai? - BB 22 Mar 2007
• RAKCEC - Kale Group ceramic producer opens in Dubai - PR 24 Mar 2007
• Sukuks - Islamic Bonds forum in Dubai 25 April 2007 - PR 24 Mar 2007
• UAE corporate governance - another Enron coming? GN 24 Mar 2007
• 2007 financial forecasts - UAE companies list
• Construction materials demand up to AED 34 in 2007 - PR 22 Mar 07
• Emirates Airlines not planning to bid for British Airways - R 22 Mar 2007
• FTA between Malaysia and GCC countries coming? 22 Mar 2007
• UAE Foreign Investment Law by 2008, Competition Law sooner KT 24 Mar 07
• Aramex IPO
• IPOs for UAE companies in 2007 - six coming up soon but which ones? Feb 07
• Stock Picks by Technical Analysis March 2007
• DFSA gives Recognised Body status to Eurex Frankfurt (EFAG) PR 22 Mar 07

More UAE stock market news and discussions..

AGMs and EGMs (E&OE) this week

• AHI AGM Wed 28 Mar 2007 - 22% cash dividend proposed
• AMAN AGM 28 Mar 2007 -
• AMLAK AGM 29 Mar 2007 -
• ARIG AGM Thu 29 Mar 2007 - 10% cash dividend proposed
• ASCANA AGM 26 Mar 2007 - postponed from 20 Mar 2007
• ETISALAT AGM Mon 26 Mar 2007 - 35% cash, 10% share dividend proposed
• FBICO AGM 29 Mar 2007 - 25% share dividend proposed (AGM postponed from 26 Mar 2007)
• GCEM AGM 28 Mar 2007 - 15% cash and 15% share dividend proposed
• GGICO AGM Sun 25 Mar 2007 - 30% share dividend proposed?
• PALTEL AGM Sun 25 Mar 2007 - 20% cash dividend proposed
• RAKPROP Thu 22 Mar 2007 - 7.5% cash dividend proposed
• RAKWCT AGM 28 Mar 2007 - 15% cash dividend proposed, AGM postponed from 21 Mar 2007.
• SALAM AGM 20 Mar 2007 - changed from 11 Mar 2007, 10% cash dividend proposed
• SOROUH AGM Sun 25 Mar 2007 - postponed from 18 Mar 2007
• TABREED AGM Tue 27 Mar 2007 - lack of quorum, postponed from 20 Mar 2007
• UNION AGM 28 Mar 2007 - postponed from 21 Mar 2007

Dividend Record Dates - last trading day (LTD) two days before Record Date (E&OE)

• ALLIANCE record date 25 Mar 2007 - LTD 21 Mar 2007
• AWNIC record date 27 Mar 2007? - 10% cash dividend approved, LTD 25 Mar 2007
• DNIR record date 27 Mar 2007 - 30% cash dividend approved, LTD 25 Mar 2007
• EIB record date 27 Mar 2007? - 15% share dividend, LTD 25 Mar 2007
• FCI record date 28 Mar 2007 - 25% cash dividend approved, LTD 26 Mar 2007
• JULPHAR 29 Mar 2007? - 10% cash dividend approved, LTD 27 Mar 2007?
• MAZAYA AGM Wed 21 Mar 2007 - 10% share & 50% cash dividends proposed. Perhaps. Record Date unknown
• NBD Record Date 29 Mar 2007 - LTD 27 Mar 2007 confirmed in NBD disclosure - 40% cash & 20% share dividend proposed
• QCEM record date 28 Mar 2007 - 10% cash dividend approved, LTD 26 Mar 2007
• RAKPROP AGM Thu 22 Mar 2007 - 7.5% cash dividend proposed. Record date?
• SICO record date 26 Mar 2007? - 20% cash dividend approved, LTD 22 Mar 2007
• TKFL record date 28 Mar 2007 - LTD 26 Mar 2007