ALDAR, DIB TAMWEEL up 09 Apr 07

UAE market news & discussions for 09 April 2007 A mixed day with ADSM up and DFM down but lower volumes than yesterday. ADIB BOD meets tomorrow to discuss buying Egypt's National Development Bank. ALDAR and NCTH team up to develop a couple of islands in Abu Dhabi. And UPP were not so popular today with the residents of the Green Community over the maintenance fees. Shares ex-dividend today NBF. Last trading day for dividend entitlement tomorrow for ADSB. AGM today (5 pm) for ARTC. Do not act on this information before confirming it first with the market.

• April 2007 top picks based on Fundamental Analysis
• UPP, Green Community and Corporate Governance - GN 25 Mar 2007
• GLOBAL 2006 FY profit AED 907m +16% on 2005 - 01 Feb 2007
• ARTC 2006 FY profit AED 217m up 30% from 2005 - GN 22 Jan 2007
• SUDATEL 2006 FY profit AED 2.68 bn +166% from 2005 - 01 Feb 2007
• DIB not bidding for Egypt's National Development Bank - GN 08 Apr 2007
• ADIB may buy stake in Egypt's NDB bank - 09 Apr 2007
• SOROUH introduces projects at Iraqi Business Council meeting PR 08 Apr 07
• Office space shortage in Dubai - BB 06 Apr 2007
• ALDAR & NCTH JV to develop Coconut Island resort in ABD - PR 09 Apr 07
• Stock Picks by Technical Analysis April 2007
• SOROUH Sky Tower in Shams - 97% mortgage with AMLAK PR 09 Apr 07
• TAMWEEL - foreign ownership limit increase from 15% to 40%
• DFM shares to be added to DFMGI Investment Sector - 09 Apr 2007
• ADAVIATION 2006 FY results AED 51m profit -48% from 2005 - 22 Jan 2007
• UPP 2006 FY profit AED 614m +5% from 2005
• EIB 2006 FY profit AED 117m +129% in 2005, BOD meeting on 23 Jan 2007
• EFG-Hermes says increased institutional investment in UAE - AB 08 Apr 07

More UAE stock market news and discussions...

best stock rises symbol price change CBI 2.07 +0.12 +6.2% FOODCO 3.65 +0.20 +5.8% FH 7.86 +0.33 +4.4% OEIHC 16.75 +0.70 +4.4% ALDAR 4.65 +0.19 +4.3%

worst stock falls symbol price change ASMAK 4.50 -0.49 -9.8% DHAFRA 5.65 -0.60 -9.6% ADAVIATION 1.95 -0.08 -3.9% BOS 2.21 -0.08 -3.5% NMDC 4.14 -0.14 -3.3%

top volume symbol value (AED) price DIB 182,386,458 7.22 TAMWEEL 139,552,358 3.83 EMAAR 86,643,881 11.30 ALDAR 72,814,482 4.65 DIC 40,893,816 4.26

Dubai Financial Market

The DFMGI index fell by 0.2% to 3813 despite over half the traded volume of 587m dhs comoing from two stocks on the up - Tamweel PJSC (TAMWEEL) rising by 0.5% and 140m dhs worth, and Dubai Islamic Bank (DIB) up 1% from 182m dhs worth. Both stocks eclipsing Emaar Properties PJSC (EMAAR) by value, with a 0.9% fall and just 87m dhs worth of trading.

Except for DFM which was flat today, all the other actively traded stocks fell with the worst ones Amlak Finance Company (AMLAK) and Aramex PJSC (ARMX) down by 2% each, and Islamic Arab Insurance Company PSC (IAIC) down by 2.2%.

Abu Dhabi Securities Market

The ADSM index looked better than DFM with a 0.3% increase to 2954 and trading value a moderate 270m.

Aldar Properties PJSC (ALDAR) was the big winner today with a 4.3% rise to 4.65 and a substantial 73m dhs of trading. Other significant rises from Union National Bank (UNB) up 1.8% to 6.29 from heavy trading, and Sorouh Real Estate (SOROUH) up 2.2% to 2.82. Emirates Telecommunications Company (ETISALAT) was relatively heavily traded today but only had a 0.3% rise.

Worst fall of note was Dana Gas PJSC (DANA) down 2.1%. Aabar Petroleum Investments Company PJSC (AABAR), Abu Dhabi Commercial Bank (ADCB), Ras Al Khaimah Properties PJSC (RAKPROP), Ras Al Khaimah Cement Company (RAKCC), Abu Dhabi National Energy Company (TAQA) all fell between 1% and 2%.

• Discuss UAE companies at Dubai Share Talk.

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

• ADSB last trading day - Mon 09 Apr 2007
• ARTC last trading day - Thu 12 Apr 2007 (if quorum at 09 Apr AGM)
• DRC last trading day Thu 12 Apr 2007 (company proposal in English) - likely to change as a result of no quorum at EGM.
• NBF last trading day - Sun 08 Apr 2007 (stated in press release)
• TAMWEEL last trading day - Tue 10 Apr 2007
• UNION last trading day Wed 11 Apr 2007
• UNIKAI last trading day Thu 12 Apr 2007 (or Wed 11 Apr 2007)?

AGMs and EGMs (E&OE) this week

• ARTC AGM 09 Apr 2007 - 15% cash and 15% share dividend proposed
• SHOP AGM & EGM 11 Apr 2007
• UFC AGM 14 Apr 2007 - 10% cash dividend proposed?
• UNIKAI AGM 07 Apr 2007 - 15% cash dividend approved?

DIB, FGB, TAMWEEL, ALDAR up 08 Apr 07

UAE market news & discussions for 08 April 2007 After a large 5% increase on the Saudi stockmarket yesterday, markets here responded in the same fashion with some big rises and strong volumes. DIB denied a bank merger rumour but their share price still shot up. Emaar is allocating surplus shares from the rights issue a year and a half ago. Tamweel share price rocketed away after EGM approval of a convertible sukuk (why would that make the share price go up?) and foreign ownership limit increase. And today is the allotment date for Air Arabio IPO shares. Will panic set in as all those who oversubscribed to the max now realise they'll probably get two-thirds of what they signed up for? National Bank of Kuwait produced a report on UAE cement companies wondering if they should be re-classified as ETFs (and poor ones at that). Gulf Capital Group produced a reasonable report on the UAE equity markets for 2007 Q1 saying much the same as what we know already, but it does have some nice graphs. Shares ex-dividend today AHI, FBICO, GCEM. Shares ex-dividend tomorrow NBF. AGM tomorrow for ARTC. Do not act on this information before confirming it first with the market.

• ADNIC - changes in top management positions ADSM 08 Apr 2007
• ADSM signs MoU with Hong Kong - the same one as in March or a different one?
• ADSM receives visit from KCCI delegation - PR 07 Apr 2007
• April 2007 top picks based on Fundamental Analysis
• Bank mergers in the UAE 2007
• BAYAN Annual General Meeting on 24 Apr 2007 - possibly a 10% dividend?
• DIB not bidding for Egypt's National Development Bank - GN 08 Apr 2007
• DIC - Emirates Glass LLC (EGL) supplies Doha City Centre PR 07 Apr 07
• DOW Chemicals $50 bn buyout by US and Middle East funds
• DPE (Dubai Pearl Exchange) - a new trading platform at the DMCC - PR 07 Apr 2007
• EMAAR rights issue 2005 - surplus shares allotment - SCA 08 Apr 2007
• EMAAR - Burj Dubai sets new record with 120 floors - PR 07 Apr 2007
• EMAAR Education starts Raffles school student registrations PR 07 Apr 2007
• ESCA's exclusive investment seminar - 07-08 Apr 2007
• ETISALAT delays Egypt launch until May 2007 - AB 05 Apr 2007
• ETISALAT combines services to 101 and is now toll-free PR 07 Apr 2007
• ETISALAT / DU - Telecom Finance event in May 2007, Dubai PR 31 Jan 07
• MAZAYA 2006 audited financial results - 08 Apr 2007
• NMDC 2006 loss turns into profit - SEB 08 Apr 2007 - from a loss of 71m dhs on the preliminary accounts to a profit of 44m dhs in the final accounts. Good work on the calculator NMDC.
• SHUAA - Al Ahlia Investment Co may sell CreditBank stake R 07 Apr 07
• TAMWEEL AED 3 bn convertible & non-convertible sukuk - 08 Apr 2007
• TAMWEEL EGM approves increase in foreign ownership limit to 40% 07 Apr 2007 - previously was 15% or 21% depending on what you read.
• UAE bank shares up Sun 08 Apr 2007 - DIB rumours denied
• UNIKAI AGM 07 Apr 2007 - DFM 08 Apr 2007
• UNIKAI 2006 H2 audited financial results - 08 Apr 2007

More UAE stock market news and discussions...

best stock rises symbol price change RAKBANK 6.85 +0.61 +9.8% TAMWEEL 3.81 +0.19 +5.2% ALDAR 4.46 +0.22 +5.2% DNIR 3.25 +0.15 +4.8% DIB 7.09 +0.33 +4.9%

worst stock falls symbol price change RAKCEC 4.01 -0.39 -8.9% DHAFRA 6.25 -0.60 -8.8% FH 7.53 -0.58 -7.2% CBI 1.95 -0.15 -7.1% ADAVIATION 2.03 -0.11 -5.1%

top volume symbol value (AED) price DIB 270,631,478 7.09 EMAAR 264,851,109 11.40 TAMWEEL 184,311,362 3.81 FGB 106,327,462 11.55 ALDAR 101,157,356 4.46

Dubai Financial Market

The DFMGI had a healthy 1.7% rise from a rousing 1.17 billion dhs of trading - it's been a while since we've seen the day's total head north of 1 billion dhs.

DIB made up over a quarter of that with a 4.8% rise to 4.30, and knocking Emaar Properties PJSC (EMAAR) off its volume pedestal today, although not by much. Emaar share price was up 1.8% to 11.40. While Tamweel PJSC (TAMWEEL) had a sturdy 5.2% increase from a convincing 184 m dhs worth.

Lofty volume levels for several other shares with close to 100 million dhs traded for the day - Dubai Investments PJSC (DIC) up 1.4%, DFM up 1.9%, and Islamic Arab Insurance Company PSC (IAIC) up 1.8%. Decent rises also for Amlak Finance Company (AMLAK) up 2%, Arabtec Holding PJSC (ARTC) up 3.3%, Aramex PJSC (ARMX) up 4%, and Shuaa Capital PJSC (SHUAA) up 2.8%.

Only three stocks fell in price, onlight trading. AMAN down 1.6%, National Bank of Dubai (NBD) down 0.8%, and GGICO down 2.5%.

Abu Dhabi Securities Market

The ADSM had a decent 0.8% rise to 2945 points from an impressive 452m dhs of trading. Almost half of that from trading in Aldar Properties PJSC (ALDAR), up by an outstanding 5.2% to 4.46; and First Gulf Bank (FGB) up by an even better 6.3% to 11.55 - most of its volume from a single trade of 7m shares worth 80m dhs.

Other rises on solid volumes for Aabar Petroleum Investments Company PJSC (AABAR) up 1.3%, Abu Dhabi Islamic Bank (ADIB) up 4%, Dana Gas PJSC (DANA) up 2.9%, and Abu Dhabi National Energy Company (TAQA) up by 1.5%.

Emirates Telecommunications Company (ETISALAT) was actively traded but no change in price at 15.40. Abu Dhabi Commercial Bank (ADCB) fell by 2.6% to 5.98, Oasis International Leasing Company PJSC (OILC) down by just 0.1% to 9.76. Other losers dropped on low volumes.

• Discuss UAE companies at Dubai Share Talk.

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

• ADSB last trading day - Mon 09 Apr 2007
• ARTC last trading day - Thu 12 Apr 2007 (if quorum at 09 Apr AGM)
• DRC last trading day Thu 12 Apr 2007 (company proposal in English) - likely to change as a result of no quorum at EGM.
• NBF last trading day - Sun 08 Apr 2007 (stated in press release)
• TAMWEEL last trading day - Tue 10 Apr 2007
• UNION last trading day Wed 11 Apr 2007
• UNIKAI last trading day Thu 12 Apr 2007 (or Wed 11 Apr 2007)?

AGMs and EGMs (E&OE) this week

• ARTC AGM 09 Apr 2007 - 15% cash and 15% share dividend proposed
• SHOP AGM & EGM 11 Apr 2007
• UFC AGM 14 Apr 2007 - 10% cash dividend proposed?
• UNIKAI AGM 07 Apr 2007 - 15% cash dividend approved?

UAE stocks news 07 Apr 2007

• Cement companies in the UAE - or are they ETFs? NBK report 07 Apr 2007
• FDI to the UAE will drop by 50% to AED 27.5 bn in 2010 - WB 20 Nov 06
• ADCB 2007 FY profits forecast +20% from 2006 FY
• ADCB 2007 Q1 profits up or down? - AGM comments Mar 2007
• Stock Picks by Technical Analysis April 2007
• Opening A/cs in GCC StockMarkets
• April 2007 top picks based on Fundamental Analysis
• TABREED capacity to double by 2009 with AED 6 bn investment - 16 Jan 07
• UAE equity markets quarterly report Gulf Capital Group GCG 03 Apr 07
• Alpha Program stock exchange scam in Dubai UAE?
• EMAAR AGM 11 Mar 20% dividend, 2006 FY profit +35% to AED 6.37 bn
• EMAAR landbank to double, Dubai Holding gets convertible bond 19 Mar 07

UAE market news 06 Apr 2007

UAE market related news and discussions Fri 06 Apr 2007

• ADHSC - Abu Dhabi Health Services Company PJSC
• ADIB-ADCB possible merger? ET 05 Apr 2007
• UNB-ADCB bank merger? GN 05 Apr 2007
• UAE property law to be unified says Dubai Land Department
• Malik Card from Dubai Land Department
• Standard Chartered says region needs better corporate governance
• Marina Rise (Reem Island, Abu Dhabi)

More UAE stock market news and discussions...

UAE stockmarkets are closed on Fridays and Saturdays

• Discuss UAE companies at Dubai Share Talk.
• Information for companies listed on Abu Dhabi and Dubai stock markets at Share Wadi.

Bank merger rumours - 05 Apr 07

UAE market news & discussions for 05 April 2007 An encouraging day on the markets as both DFM and ADSM steamed upwards - ADSM on considerably higher volumes. Rumours of a merger between ADCB and UNB were unfounded according to ADCB. Perhaps. While the ADCB - ADIB merger rumours were ignored by ADCB. Looks like DIB might be joining in the fun too, or at least the market thinks it is - their shares rocked ahead today. The AMLAK bank licence saga doesn't seem to be over - they claim they haven't been officially notified yet. News of Crescent Petroleum's oil exploration talks in Iraq may have prompted a lift for DANA. Shares ex-dividend today ACICO, NIND, RAKPROP. Shares ex-dividend Sunday AHI, FBICO, GCEM. Last trading day Sunday for dividend entitlement NBF. Do not act on this information before confirming it first with the market.

• Oger refinances Turk Telekom purchase to smooth path to IPO - 29 Mar 07
• ETISALAT delays Egypt launch until May 2007 - AB 05 Apr 2007
• AMLAK - 97% finance on SOROUH's Sky & Tala Towers and Golf Gardens
• TAQA CEO talks about North Sea energy at NBS Conference PR 05 Apr 07
• EMAAR Industries & Investments buys Microsoft products - PR 05 Apr 07
• Oasis Crescent Capital (DIFC) Ltd
• NBAD adviser Ziad Dabbas comments on GCC markets - DAH 05 Apr 07
• Stock Picks by Technical Analysis April 2007
• IPO summit concludes IPOs can stabilise Middle East markets PR 05 Apr 07
• TNI - founder shares AMLAK, AABAR, ARMX, ALDAR, ARTC, FH - PR 27 Feb 07
• Corruption report puts UAE at top of Arab list but still low - GN 05 Apr 07
• AHI 2006 FY - last day of trading for dividends
• ACICO 2006 FY - AGM results and shares ex-dividend
• NIND 2006 FY - AGM results and shares ex-dividend
• GGICO 2006 FY - bonus shares in accounts
• DANA 2006 FY - agenda for AGM 29 April 2007
• IAIC 2006 FY - agenda for AGM 29 April 2007
• DRC 2006 FY - AGM results

More UAE stock market news and discussions...

best stock rises symbol price change OEIHC 16.05 +1.45 +9.9% ADCB 6.18 +0.43 +7.5% NMDC 4.28 +0.28 +7% DIB 6.67 +0.42 +6.7% IAIC 2.64 +0.14 +5.6%

worst stock falls symbol price change ADNH 4.32 -0.41 -8.7% MAZAYA 7.00 -0.50 -6.7% ARIG 2.86 -0.17 -5.6% NCC 10.90 -0.50 -4.4% RAKPROP 1.30 -0.04 -3%

top volume symbol value (AED) price EMAAR 257,604,035 11.15 TAMWEEL 151,301,588 3.62 DIB 135,636,414 6.67 ADCB 86,920,881 6.18 DIC 61,256,279 4.22

Dubai Financial Market

After a miserable start to the month, the DFM had a jolly jump of 2.5% to finish the week at 3758. The index saw a sharp rise at beginning, then remained steady for most of session with another sharp rise at the end of day. Everything rose except for 4 obscure and rarely traded stocks, and a total traded volume of a healthy 870m dhs. Emaar Properties PJSC (EMAAR) up by 2.3% to 11.20 but volumes down a bit relatively speaking, to less than a third of the total for DFM. Dubai Islamic Bank (DIB) stood out today with a 6.5% surge to 6.87 and an impressive 136m dhs worth of trades. Islamic Arab Insurance Company PSC (IAIC) also looking hot with an increase of 5.5% from 48m dhs of trading. Decent rises for Amlak Finance Company (AMLAK) up 4.2% and Tamweel PJSC (TAMWEEL) up 3.7% with an ample 151m dhs of trades - second only to Emaar. Unusually, Emirates Bank International Group (EBI) was somewhat active today with 17 trades instead of the usual none or one, and a 3.9% increase.

Abu Dhabi Securities Market

A great day for ADSM with a very solid 371m dhs of trading and a 2.1% increase in the index to 2922. Abu Dhabi Commercial Bank (ADCB) continued from yesterday's sterling performance and shot up another 7.5% to 6.04, with top volume for the day at 87m dhs worth. National Marine Dredging Company (NMDC) deserves a mention for maxing out at a 10% increase on much higher than the usual zero trades. Dana Gas PJSC (DANA) trading was solid and shares rose 3.7% rise. Aabar Petroleum Investments Company PJSC (AABAR) also looking promising with a 3.1% increase, same increase for Union National Bank (UNB) on higher than usual volumes. Almost all the consequential stocks rose today with only Sorouh Real Estate (SOROUH) falling a mere 0.4%, and Ras Al Khaimah Properties PJSC (RAKPROP) down by 3% after going ex-dividend. Considering their dividend yield was about 5.5%, they were effectively in line with the index today.

• Discuss UAE companies at Dubai Share Talk.

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
• FBICO last trading day Thu 05 Apr 2007?
• GCEM last trading day - Thu 05 Apr 2007
• GGICO last trading day -Mon 02 Apr 2007
• GMPC last trading day Sun 01 Apr 2007
• NCTH last trading day Tue 03 Apr 2007
• RAKPROP Maturity Date 08 Apr 2007, Last Trading Day Wed 04 Apr 2007?
• RAKWCT last trading day Tue 03 Apr 2007 (possibly 05 Apr 2007)
• SOROUH last trading day Sun 01 Apr 2007

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 04 Apr 2007 - postponed from 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 approved
• 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.

AGMs and EGMs next week

• ARTC AGM 09 Apr 2007 - 15% cash and 15% share dividend proposed
• SHOP AGM & EGM 11 Apr 2007
• UFC AGM 14 Apr 2007 - 10% cash dividend proposed?

Last Trading Days for dividend entitlement (record date 2 trading days later, E&OE) next week

• ADSB last trading day - Mon 09 Apr 2007
• ARTC last trading day - Thu 12 Apr 2007 (if quorum at 09 Apr AGM)
• DRC last trading day Thu 12 Apr 2007 (company proposal in English) - likely to change as a result of no quorum at EGM.
• NBF last trading day - Sun 08 Apr 2007 (stated in press release)
• TAMWEEL last trading day - Tue 10 Apr 2007
• UNION last trading day Wed 11 Apr 2007

ADCB BILDCO SOROUH TKFL up 04 Apr 07

DFM was bland enough today although there was an encouraging spurt for TAMWEEL - will they or won't they get their bank licence? EFG-Hermes don't seem convinced in their updated (and confusing) report for AMLAK after their licence application failed. ADSM was much more exciting with astounding volume for OILC and big rises for ADCB, SOROUH, TKFL and BILDCO. After the weak finish to the Air Arabia IPO, look out for an even bigger one - Emirates Post IPO - maybe even this month. AGMs today for ACICO, AKIC, DRC, NIND. Shares ex-dividend today RAKWCT. Shares ex-dividend tomorrow RAKPROP? Last trading day tomorrow for dividend entitlement for AHI, FBICO, GCEM. Do not act on this information before confirming it first with the market.

UAE market news & discussions for Wednesday 04 April 2007

• AGTHIA AGM 26 Apr 2007 at 5pm - ADSM 04 Apr 2007
• AMLAK fair value update from EFG - confusing recommendation and LT fair value - 03 Apr 2007
• ARMX Aramex AGM postponed to Mon 16 Apr 2007 - DFM 04 Apr 2007
• DRC dividend dates disclosure - 04 Apr 2007
• Emirates Post IPO by the end of April 2007? - 04 April 2007
• TABREED dividend distribution dates - DFM 04 Apr 2007
• TAMWEEL stock price rising - 04 Apr 2007
• Dow Jones DFM index top four companies? Not based on trading volumes.
• Dubai trying to rein in development with greater focus - FT 04 Apr 2007
• AMLAK and TAMWEEL Banking License questions - 03 Apr 2007
• DME approvals from CH, IRL, Oman, NZ, not yet from DFSA - PR 04 Apr 07
• NBAD partly finances AED 1.5 bn new UAE University in Al Ain PR 04 Apr 07
• Property markets worldwide at a peak? AME 04 Apr 2007
• Etisalat wins award for BlackBerry service at Innovation Awards 2007
• Emirates Post & Hong Kong Post express & distribution agreements 04 Apr 07
• Stock Picks by Technical Analysis April 2007
• Air Arabia IPO
• ADCB & KFIC sign MoU - new AED 570m Private Equity Fund - PR 04 Apr 07
• EIB offers finance scheme with Juma Al Majid for Hyundai cars PR 04 Apr 07
• TAMWEEL AGM approves dividend, hopeful on bank licence - GN 01 Apr 07
• Dubai Property market trends - summary of opinions and articles
• AGTHIA 2006 FY AED 29.1m up 1.5% from 2005 - 31 Jan 2007
• MASQ - MashreqBank offers unsecured overdraft for SMEs PR 03 Apr 07
• Emirates Post IPO
• Emirates Post plans to buy 50 new aircraft - 04 Apr 2007
• ARMX report from EFG-Hermes - BUY rating - 02 Apr 2007
• Air Arabia IPO closes only 1.5x oversubscribed - PR 02 Apr 2007
• DFM to launch two Islamic indexes with Dow Jones - PR 02 Apr 2007
• ACICO 2006 FY results (not reviewed) late? - 14 Feb 2007
• NIND 2006 FY AED 1.7 bn -28.8% from 2005 - BOD meeting 10 Feb 2007 at 12:30.
• TABREED 2006 FY profit +104% to AED 104m - 04 Feb 2007
• ARMX 2005 FY profit AED 95m +28% on 2005 - conflicting revenues
• DRC 2006 FY results 01 Feb 2007 - not reviewed yet

More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 04 April 2007

best stock rises symbol price change NBQ 3.95 +0.34 +9.4% TKFL 4.44 +0.33 +8% ADCB 5.75 +0.40 +7.5% BILDCO 3.67 +0.25 +7.3% ASMAK 4.99 +0.29 +6.2%

worst stock falls symbol price change OEIHC 14.60 -1.50 -9.3% ADNH 4.73 -0.41 -8% FOODCO 3.40 -0.27 -7.4% RAKCEC 4.29 -0.33 -7.1% JULPHAR 1.73 -0.13 -7%

top volume symbol value (AED) price EMAAR 179,168,971 11.00 OILC 90,479,646 9.61 TAMWEEL 85,762,065 3.46 ETISALAT 69,107,116 15.00 ADCB 64,948,838 5.75

Dubai Financial Market

The DFM index crept up by 0.2% to 3666 points today after a rocky ride. Total traded value was still weak at 456m dhs.

Tamweel PJSC (TAMWEEL) definitely in the spotlight with a 5% rise to 3.63 on strong volumes of 86m dhs worth. Its compatriot, or rival, Amlak Finance Company (AMLAK) also looked good with a 2.5% rise to 2.83. AMAN also looking decent with a 3.4% rise but volumes mediocre. Most other actively traded stocks had smaller rises. Emaar Properties PJSC (EMAAR) was up by 0.9% to 10.95.

DIB had a minimal fall of 0.15% to 6.45. No other noteworthy decreases.

Abu Dhabi Securities Market

ADSM up 0.8% to 2862, total traded value a solid 371m dhs. The small movement in the index shielding some large movements on strong volumes.

Oasis International Leasing Company PJSC (OILC) had one huge deal of 8.75 million shares responsible for the bulk of the 90m dhs by value today. Close price of 9.61 dhs up by 0.5%.

Abu Dhabi Commercial Bank (ADCB) was up by a mighty 7.5% to 5.75 with second largest volume by value, of 65m dhs. Probably would have been higher but price hit 10% limit up by the end of the day with no sellers and a big queue of buyers indicating price will rise again tomorrow.

TKFL another stock going limit up on much heavier than normal trading - almost all of it in the last 20 minutes. Close price of 4.44 up 8% from yesterday. Abu Dhabi National Company for Building Materials (BILDCO) rose by 7.3% to 3.67 after hitting the 10% limit during the day, volumes much heavier than normal. And last in the list of big risers was Sorouh Real Estate (SOROUH) with a 5.8% increase to 2.75. Other increases were small in size and/or volume.

Emirates Telecommunications Company (ETISALAT) started trading again today ex-dividend and fell by just 0.7% on large volume of 69m dhs, the decrease much smaller than expected based on the 3.7% dividend yield. Ras Al Khaimah White Cement Company (RAKWCT) also ex-dividend today with the 5.9% decrease lower than the 9% yield, but volume significantly higher than usual.

Ras Al Khaimah Ceramics (RAKCEC) had an unpleasant 7.1% fall on higher than normal volumes. Other shares fell on low volumes and/or by a small amount.

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

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 04 Apr 2007 - postponed from 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 approved
• 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
• FBICO last trading day Thu 05 Apr 2007?
• GCEM last trading day - Thu 05 Apr 2007
• GGICO last trading day -Mon 02 Apr 2007
• GMPC last trading day Sun 01 Apr 2007
• NCTH last trading day Tue 03 Apr 2007
• RAKPROP Maturity Date 08 Apr 2007, Last Trading Day Wed 04 Apr 2007?
• RAKWCT last trading day Tue 03 Apr 2007 (possibly 05 Apr 2007)
• SOROUH last trading day Sun 01 Apr 2007

AGMs and EGMs next week

• ARTC AGM 09 Apr 2007 - 15% cash and 15% share dividend proposed
• SHOP AGM & EGM 11 Apr 2007
• UFC AGM 14 Apr 2007 - 10% cash dividend proposed?

Last Trading Days for dividend entitlement (record date 2 trading days later, E&OE) next week

• ADSB last trading day - Mon 09 Apr 2007
• ARTC last trading day - Thu 12 Apr 2007 (if quorum at 09 Apr AGM)
• DRC last trading day Thu 12 Apr 2007 (company proposal in English)
• NBF last trading day - Sun 08 Apr 2007 (stated in press release)
• TAMWEEL last trading day - Tue 10 Apr 2007
• UNION last trading day Wed 11 Apr 2007?

UAE markets still wobbly 03 Apr 07

DFM was almost encouraging in the later part of trading today ... sort of. An EFG-Hermes report about Aramex yesterday gave a BUY rating - perhaps explaining why they perked up a bit today. DFM released news that 40% of trading during 2007 Q1 was from foreigners. TAMWEEL's share price seemed to agree with the CEO's hopeful banking license comments. Some analysts don't agree though. AGMs today for ARMX. AGMs tomorrow for ACICO, AKIC, DRC, NIND. Shares ex-dividend today GGICO. Last trading day tomorrow for dividend entitlement for RAKPROP - possibly. Do not act on this information before confirming it first with the market.

UAE market news & discussions for 03 April 2007

• ADSB 02 Apr 2007 AGM approves 10% cash dividend - 03 Apr 2007
• AMLAK and TAMWEEL Banking License questions - 03 Apr 2007
• ARMX report from EFG-Hermes - BUY rating - 02 Apr 2007
• CIB report from HC Securities - ACCUMULATE - 02 Apr 2007
• DFM - foreigners buy 40% of shares in 2007 Q1 - PR 03 Apr 2007
• DIB bogus trading - committee to report next week - 03 Apr 07
• DIC Real Estate at Dubai International Property 2007 - PR 03 Apr 07
• Emaar Financial Services joins Dubai Quality Group - PR 03 Apr 2007
• GGICO ex-dividend today 03 Apr 2007
• GFH invites shareholders to 2006/2007 results presentation - DFM 03 Apr 07
• NBF AGM 10% cash dividend and 10% bonus shares approved - 03 Apr 2007
• NBQ 2007 Q1 profit - clarification of newspaper article? - ADSM 03 Apr 07
• NBQ borrows AED 734m from MASQ, NBAD - PR 25 Mar 2007
• PALTEL appoints new Deputy Chief Finance Officer - ADSM 03 Apr 07
• RAKPROP demands correction from Al Bayan newspaper - 03 Apr 07
• Air Arabia IPO closes only 1.5x oversubscribed - PR 02 Apr 2007
• International Property Show 2007 03-06 Apr 2007 - PR 02 Apr 2007
• DAE (Dubai) to buy US military maintenance provider - R 20 Mar 07
• EFS - Emaar Financial Services discussion
• Moody's DIFC office - 03 Apr 2007
• DME approves 28 members as launch approaches - PR 03 Apr 2007
• OILC promotes Mustapha Boussaid to Shipping Director - PR 03 Apr 2007
• Al Qudra Real Estate at Dubai Property Show 2007 - PR 03 Apr 2007
• DIFX Chairman takes regional CEO job at Deutsche Bank - PR 03 Apr 07
• DMCC now owns 51% of DGCX after 1% purchase - PR 03 Apr 2007

More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 03 April 2007

best stock rises symbol price change AKIC 1.75 +0.12 +7.4% FH 8.11 +0.43 +5.6% TAMWEEL 3.33 +0.11 +3.4% FOODCO 3.67 +0.09 +2.5% AMAN 14.65 +0.35 +2.4%

worst stock falls symbol price change GFH 6.98 -1.23 -15% MAZAYA 7.43 -1.10 -12.9% NBQ 3.61 -0.39 -9.8% CBI 2.19 -0.22 -9.1% PALTEL 30.00 -3.00 -9.1%

top volume symbol value (AED) price ADCB 160,744,201 5.35 EMAAR 123,425,699 10.80 SOROUH 99,801,391 2.60 DIB 70,226,245 6.40 DFM 48,142,546 2.09

Dubai Financial Market

DFM looked weak again today, to start with at least and quickly fell to about 3624 points. About halfway through the session, the index picked up and almost closed back where it started, in the end a tiny drop of 0.08% to 3658. Trading volume only 376m dhs.

Despite the overall drop, several shares showed a promising increase. Aramex PJSC (ARMX) up by 1.6% (see EFG-Hermes report), Dubai Islamic Bank (DIB) up by 2.4%, AMAN up by 2.5%, and Tamweel PJSC (TAMWEEL) cocking a snook at speculation it will miss out on its bank license like Amlak Finance Company (AMLAK) did (which fell by 0.7% today), and rising by 3.4% to 3.36.

Emaar Properties PJSC (EMAAR) went nowhere but 123m dhs of shares changed hands along the way, closing at 10.85. GULFNAV also stayed flat today at 1.02.

Only two shares fell more than 1% (ignoring stocks trading low volumes) - Emirates Integrated Telecommunications Company (DU) by 1.4% to 4.87 and Union Properties PJSC (UPP) by 1.3% to 3.03.

There should have been an extra 0 in yesterday's report of course, the DFM index below 4000 rather than 400 at the moment.

Abu Dhabi Securities Market

ADSM fell by 0.5% to 2839 points on heavy trading it seemed - total volume of AED 356m almost matching DFM today. However, the bulk of that value came from just four large trades in two stocks. Sorouh Real Estate (SOROUH), which fell 1.5%, saw two deals adding up to 30m shares or 78m dhs worth; and Abu Dhabi Commercial Bank (ADCB) which rose by 0.9% and saw two deals adding up to 27.5m shares, or 147m dhs worth.

Rises worth noting for Aldar Properties PJSC (ALDAR) up 1.7% and solid volume of 37m dhs worth, and Aabar Petroleum Investments Company PJSC (AABAR) up 1.8%.

AGTHIA had about the most significant fall, of 1.7% to 1.17. The remaining stocks fell less than 1% or on very few trades.

No trading again for Etisalat.

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 04 Apr 2007 - postponed from 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 approved
• 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
• GGICO last trading day -Mon 02 Apr 2007
• GMPC last trading day Sun 01 Apr 2007
• NCTH last trading day Tue 03 Apr 2007
• RAKPROP Maturity Date 08 Apr 2007, Last Trading Day Wed 04 Apr 2007?
• RAKWCT last trading day Tue 03 Apr 2007 (possibly 05 Apr 2007)
• SOROUH last trading day Sun 01 Apr 2007

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

DFM & ADSM still down - 02 Apr 07

A painful day on the UAE markets today with the DFM index now well below 4000 points. The Air Arabia IPO was only 1.5x oversubscribed which doesn't bode well for a good price when the shares float on DFM. DFM and Dow Jones teamed up to launch two Islamic indexes. And yet another report rates EMAAR shares as a "Strong Buy". AGMs today for NBF and ADSB. AGMs tomorrow for ARMX. Shares ex-dividend today ETISALAT, GMPC, SOROUH. Last trading day for dividend entitlements today for GGICO. Last trading day tomorrow for ADAVIATION, NCTH, RAKWCT. Do not act on this information before confirming it first with the market.

UAE market news & discussions for 02 April 2007

• AKIC 04 Apr 2007 for Annual General Meeting - 02 Apr 2007 - rescheduled from 01 Apr 2007
• AKIC Al Khazna 2006 audited financial results again - 02 Apr 2007 (wrong results submitted previously)
• DANA AGM 29 Apr 2007 - 02 Apr 2007
• EMAAR update Misr purchase - HC Securities rating "Strong Buy" - 29 Mar 07
• GGICO dividend entitlement last trading day today 02 Apr 2007
• SHUAA sale of ONIC stake - BankMuscat report - 01 Apr 2007
• UNION Insurance 2006 audited financial results - 02 Apr 2007
• Help a newbie - ARMX and DFM shares
• Stock Picks by Technical Analysis April 2007
• NBQ 2006 FY results (not yet) - BOD meeting 5pm on 28 Jan 2007
• WARE Agility 2006 FY results not submitted, trading suspended - 15 Mar 07
• International Property Show 2007 03-06 Apr 2007 - PR 02 Apr 2007
• Dubai First consumer finance launched by Dubai Holding - PR 02 Apr 07
• QTEL - Iraq operation to be shut down - Asia-Cell Cayman - 01 Apr 2007
• Air Arabia IPO closes only 1.5x oversubscribed - PR 02 Apr 2007
• DU sponsors MECOM 22-25 Apr 2007 and hosts media center PR 02 Apr 07
• CBI offers 0.99% interest rate on car loans with Al Majid Motors PR 02 Apr 07
• NBD launches selektpoints new smart card loyalty program PR 02 Apr 2007
• DIB to implement EastNet financial transaction software - PR 02 Apr 2007
• IAIC Salama sponsoring World Takaful Conference 09/10 Apr 2007
• NBD Academy graduates first group of PAL trainees PR 01 Apr 2007
• DFM to launch two Islamic indexes with Dow Jones - PR 02 Apr 2007
• WARE/AGILITY buy Pan Orient and Lep Int'l from Mainfreight 02 Apr 07
• AKIC 2006 FY results announced (not reviewed yet) 08 Feb 2007
• QTEL - Wataniya holds first meeting for new BOD - 02 Apr 2007
• DANA 2006 FY profit less than AED 821m (includes IPO income?) - 30 Jan 07
• EMAAR will buy out Emaar-Misr partners in Egypt - R 13 Mar 2007
• SHUAA sells 35% of Oman National Investment Co - 01 Apr 2007
• Dubai property market - no excess supply till 2009 - PS report 28 Mar 2007
• Dubai's successful model - Matein Khalid 30 Mar 2007
• KSE crash - wipes out 2007 Q1 gains?? - Reuters 02 Apr 2007
• Property in Dubai demand for 43k units annually to 2010? - DCCI 02 Apr 07

More UAE stock market news and discussions...

Dubai and Abu Dhabi stock market report 02 April 2007

best stock rises symbol price change CBD 6.83 +0.20 +3% FOODCO 3.60 +0.10 +2.9% GULFNAV 1.00 +0.02 +2% GCEM 4.73 +0.09 +1.9% ADAVIATION 2.15 +0.04 +1.9%

worst stock falls symbol price change GFH 8.63 -1.44 -14.3% CBI 2.41 -0.26 -9.7% NCTH 4.10 -0.25 -5.7% SOROUH 2.64 -0.14 -5% GGICO 8.23 -0.35 -4.1%

top volume symbol value (AED) price EMAAR 169,745,474 10.90 DIB 70,145,352 6.32 DFM 43,798,206 2.09 ADIB 29,882,139 47.95 AMLAK 27,336,245 2.81

Dubai Financial Market

The DFMGI continued its slump, with an unpleasantly large fall of 1.4% to 3661 points, and volumes a moderate 424m dhs.

GULFNAV was the only stock of note showing an increase, up by 2% to stay above par value with a close price of 1.02.

Amlak Finance Company (AMLAK) led the list of losers with a 3.5% fall to add to yesterday's 8% drop, share price closing at 2.78. Other falls you don't want to hear about from Emaar Properties PJSC (EMAAR) down 1.8%, Dubai Islamic Bank (DIB) down 2.8%, AMAN down 2.1%, Islamic Arab Insurance Company PSC (IAIC) down 1.9%, and National General Cooling Company PJSC (TABREED) down 2.6%.

Abu Dhabi Securities Market

ADSM fared a little better than DFM with only a 0.6% fall to 2853 points and moderate volume of 133m dhs of trading.

Sorouh Real Estate (SOROUH) shares went ex-dividend today with share price slightly overcompensating for the 4% dividend yield, and falling by 5%. Other movements in the red were from Aabar Petroleum Investments Company PJSC (AABAR) down 2.2%, AGTHIA down 3.3%, Oasis International Leasing Company PJSC (OILC) down 2.9% and falls of less than 2% for other actively traded stocks.

Abu Dhabi Islamic Bank (ADIB) was up by just 0.8% but on strong volumes. Gulf Cement Company (GCEM) up by 1.9%, Aldar Properties PJSC (ALDAR) up by 0.2% and Sudan Telecom Company Ltd (SUDATEL) up by 0.7% were the only other rises worth making a note of.

Emirates Telecommunications Company (ETISALAT) shares were not traded today.

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

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 04 Apr 2007 - postponed from 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
• GGICO last trading day -Mon 02 Apr 2007
• GMPC last trading day Sun 01 Apr 2007
• NCTH last trading day Tue 03 Apr 2007
• RAKPROP Maturity Date 08 Apr 2007, Last Trading Day Wed 04 Apr 2007?
• RAKWCT last trading day Tue 03 Apr 2007 (possibly 05 Apr 2007)
• SOROUH last trading day Sun 01 Apr 2007

AMLAK plummets, DFM & ADSM down 01 Apr 07

UAE markets Sunday 01 April 2007 AMLAK set off resolutely downwards - plummeting by 8% today after news that its bank licence application was declined, unless it was because Mohammed Alabbar (EMAAR Chairman) resigned from his post as AMLAK chairman. The TAMWEEL CEO was hopeful they'd still get their bank licence, and made the dubious claim of having the highest dividend yield in the market - correct if you ignore the top dozen or so higher yields. And has anyone seen any news about the Air Arabia IPO since it closed last week? DIFX and the London Stock Exchange (LSE) are in talks to form an alliance. Julius Baer (Swiss Investment Bank) said we can look forward to the DFM falling by another 1000 points. Good luck to the students who start the DFM stock market game today (it is today isn't it?). AGM yesterday for TAMWEEL. AGM today for AKIC. AGMs tomorrow for NBF and ADSB. Shares ex-dividend today GGICO. Last trading day for dividend entitlements today for ETISALAT, GMPC, SOROUH. Do not act on this information before confirming it first with the market.

Dubai and Abu Dhabi stock market report 01 April 2007

best stock rises symbol price change CBI 2.67 +0.24 +9.9% TKFL 4.08 +0.26 +6.8% MASQ 194.50 +9.25 +5% RAKCEC 4.62 +0.18 +4.1% FOODCO 3.50 +0.13 +3.9%

worst stock falls symbol price change ARIG 2.89 -0.30 -9.4% AMLAK 2.93 -0.26 -8.2% FH 7.94 -0.57 -6.7% AKIC 1.63 -0.12 -6.9% FCI 3.81 -0.24 -5.9%

top volume symbol value (AED) price EMAAR 120,792,049 11.10 AMLAK 52,553,180 2.93 DFM 47,242,210 2.10 DIB 33,189,086 6.51 GULFNAV 32,996,803 1.01

UAE market news & discussions for 01 April 2007

UAE market news & discussions for Sunday 01 April 2007

• AABAR 2006 audited financial accounts - 01 Apr 2007
• ADCB loan up to AED 5.5 bn - details given 31 Mar 2007
• ADCB mortgages - Al Fajer Properties & Jumeirah Business Center 31 Mar 07
• ADSM Muscat Broker Forum ends - PR 01 Apr 2007
• AMLAK AGM results disclosure - DFM 01 Apr 2007 - share price tanked by 8% today after bank licence declined. Chairman Alabbar to step down. No dividend payment for 2006.
• ARABBANK 2006 net profits AED 1.36 bn - AFP 01 April 2007
• DIB comments on 26 Mar 2007 press release - 01 Apr 2007
• DIB and other banks provide AED 3 bn finance for Mosque - PR 31 Mar 07
• Dubai Bank opens five new branches in the UAE - PR 01 Apr 2007
• EBI and MASQ arrange AED 184m loan for Ukrainian Bank - PR 01 Apr 07
• EMAAR rights issue - bounced checks notification - 01 Apr 2007
• EMAAR opens customer center for Downtown Burj Dubai - PR 01 Apr 07
• GFH - medium term growth strategy - 01 Apr 2007
• GRAND 2006 financial results and dividend proposals - 01 Apr 2007 - 10% cash and 20% share dividend?
• IAIC Salama 2006 audited financial results - 01 Apr 2007
• NRE BOD meeting proposed dividends and financial results 01 Apr 2007 - 35% cash and 15% share dividend?
• OILC 2006 audited financial accounts - 01 Apr 2007 - good director's report
• RAK Properties AGM results disclosure - ADSM 01 Apr 2007 - Maturity Date 08 Apr 2007
• SHUAA sells 35% of Oman National Investment Co - 01 Apr 2007
• TAMWEEL AGM results, EGM postponed, CEO dividend claim inaccurate PR 01 Apr 07
• TAMWEEL CEO says UAE mortgage market to AED20 bn in 07 - GN 01 Apr 07
• TAMWEEL AGM approves dividend, hopeful on bank licence - GN 01 Apr 07
• TKFL 2006 audited financial accounts - 01 Apr 2007
• WARE / Agility financial results and dividend proposals - 01 Apr 2007 - 90% cash and 20% share dividend?
• AEMS - Atos Euronext Market Solutions opens at DIFC - PR 31 Mar 2007
• Al Baraka to start AED 370bn (!) Emaar Islamic Bank in Bahrain R 29 Mar 07
• DIFX and LSE talking about an alliance - 01 Apr 2007
• DFM & ADSM unstable due to lack of transparency - GN 31 Mar 2007
• Dubai stocks to plummet another 1000 points says Julius Baer - 01 Apr 07
• IPOs for five Saudi Insurance Companies in March 2007
• SABIC in Saudi revenue target of AED 220 bn by 2020 - R 01 Apr 2007
• UAE and Oman stock brokers sign MoU for cross-trading PR 31 Mar 2007
• UAE dirham to be revalued, with immediate effect - 01 Apr 2007

More UAE stock market news and discussions..

Dubai Financial Market

The DFM kicked off April in a lacklustre fashion, falling by 0.35% to 3714 points and light volume of 355m dhs of trading.

Amlak Finance Company (AMLAK) was in the spotlight with a heavy 8.3% fall to 2.88 after news over the weekend that it was denied a bank licence. Tamweel PJSC (TAMWEEL) fell a sympathetic 3% to 3.29, its bank licence application still in the pipeline. GULFNAV also took a 3% tumble to close at par value of 1.00 dhs. Will it fall further? Arab Insurance Group (ARIG) fell 10% from just 5 trades which is near enough to the correct adjustment after going ex-dividend.

Emaar Properties PJSC (EMAAR) close price of 11.05 was unchanged from Thursday, traded volume only 121m dhs worth today.

Only four stocks rose today from very few trades - MASQ, National Bank of Dubai (NBD), Emirates Bank International Group (EBI) and GGICO.

Abu Dhabi Securities Market

ADSM fell 0.5% to 2869 points, trading volumes moderate at 159m dhs by value.

Good rises on big volumes of 3.4% to 1.23 for AGTHIA, and 6.8% to 4.08 for TKFL. Oasis International Leasing Company PJSC (OILC) had a more relaxed day today with just a 0.8% rise to 9.89 but a still significant 13m dhs of trading.

Aldar Properties PJSC (ALDAR) was the most heavily traded by volume, continuing its demise with another 1.2% fall to 4.09. Other actively traded stocks today fell 2% or less, including Aabar Petroleum Investments Company PJSC (AABAR), Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), ARKAN, Dana Gas PJSC (DANA), Emirates Telecommunications Company (ETISALAT), Gulf Cement Company (GCEM), National Bank of Abu Dhabi (NBAD), Ras Al Khaimah Properties PJSC (RAKPROP) and Sorouh Real Estate (SOROUH).

Sudan Telecom Company Ltd (SUDATEL) took a 2.7% hit and Sharjah Cement & Industrial Development Company (SCIDC) was down by 3.6%.

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

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
• RAKPROP Maturity Date 08 Apr 2007, Last Trading Day Wed 04 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)