UAE markets 12 Mar 2008

UAE market news & discussions for 12 March 2008 A better days trading on UAE markets today. The DFM index finished 1.85% up and the ADSM finished 0.74% up on improved volumes. The standout share on the DFM was UPP rising 6.43% to 4.80 dirhams. The top traded share on ADSM was AABAR rising 0.97% to 4.12 dirhams on turnover of 18 million shares. The UAE is expected to introduce a new company law in six months which will allow majority ownership in some industry sectors. Disclosures: DFM SHUAA has received final approval to commence operations in KSA. AMLAK plans to raise Dh 6 billion in Sukuk and loans this year to finance growth the CEO said. BAYAN: Bayan Investment Company announces its preliminary financial results for 2007 including the recommended distributions. MASQ: Reminder: Today is the last trading date to entitle for Mashreq Bank distributions. NGI: Reminder: Today is the last trading date to entitle for National General Insurance distributions. TABREED: National General Cooling announces distributions related dates TABREED: National General Cooling discloses the consolidated financial statements for the year ended 31/12/2007. TABREED: Reminder: AGM & EGM of National General Cooling Company are being held today, ADSM AKIC: Al Khazna Insurance Company announces holding board meeting on March 13, 2008 at 4:00 PM NBAD: National Bank of Abu Dhabi announces March 15, 2008 is the date of paying the interest on its Convertible Notes

• Marketwatch DFM March 2008
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• ADIB 2007 FY profit AED 770m +35% 27 Jan 2008
• TABREED 2007 FY profit forecast down 30% to AED 70m
• ESCA boss says GCC markets need to shape up - R 11 Mar 08
• AMLAK to borrow AED 6 bn in 2008 - GN 11 Mar 08
• SHUAA - Saudi operations start 11 Mar 08
• UAE real estate companies fair values from Al Mal Capital
• UAE stocks 2007 Amwal report
• AABAR to sell Pearl Energy for AED 3.2 bn? 13 Jan 08
• MarketWatch Feb 2008 DFM ADSM
• DP World share price March 2008
• DP World - learn from Reliance Power bonus shares 18 Feb 08
• DHAFRA 2007 FY results
• SICO 2007 FY results
• Takaful Al Emarat Insurance IPO
• ABNIC Takaful JV with Uniqa Group - GN 11 Mar 08
• Insider trades March 2008
• 11 March 2008 ADSM DFM DIFX disclosures & news
• FGB TKFL deal for home insurance - PR 10 Mar 2008
• Al Salam Bank DFM listing date 23 Mar 2008

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best stock rises symbol price change DHAFRA 7.00 +0.48 +7.4% INVESTB 3.60 +0.25 +7.5% ADAVIATION 5.72 +0.39 +7.3% DRIVE 5.94 +0.37 +6.6% UPP 4.80 +0.2 +4.3%

worst stock falls symbol price change TKFL 6.62 -0.38 -5.4% ADNIC 11.00 -0.20 -1.8% DIN 30.00 -0.50 -1.6% JULPHAR 2.60 -0.03 -1.1% NMDC 9.04 -0.10 -1.1%

top volume symbol value (AED) price EMAAR 574,528,316 12.15 ADIB 253,390,019 68.00 DFM 243,358,380 5.94 DIB 188,913,373 12.25 FGB 138,604,053 21.55

Dubai Financial Market

The DFM index closed at 5,819 a rise of 1.85% from the previous close. 347 million shares were traded worth 1.8 billion dirhams. Twenty one shares advanced and two declined.
The top traded share was GULFNAV closing unchanged at 1.60 dirhams on turnover of 66 million shares.

Shares to rise included: AIRARABIA 2.08 (0.48%), DEYAAR 2.53 (0.39%), DFM 5.94 (0.50%), Dubai Islamic Bank (DIB) 12.25 (2.51%), Emaar Properties (EMAAR) 12.15 (2.51%) and Union Properties (UPP) 4.80 (6.43%).

Arabtec (ARTC) was the only loser on significant volume falling 0.41% to 12.10 dirhams.

Abu Dhabi Securities Market

The ADSM index closed at 4,764 a rise of 0.74% from the previous close. 127 million shares were traded worth 954 million dirhams. Twenty nine shares advanced and eleven declined.
The top traded share was Aabar Petroleum (AABAR) rising 0.97% to 4.12 dirhams on 18 million shares traded.

Other shares to rise included: Aldar Properties (ALDAR) 11.00 (0.92%), First Gulf Bank (FGB) 21.55 (1.65%), WAHA 2.55 (1.19%), RAK Properties (RAKPROP) 2.52 (0.40%) and Abu Dhabi National Energy (TAQA) 3.59 (2.87%).

Shares to fall included: National Bank of Abu Dhabi (NBAD) 22.95 (0.22%) and Abu Dhabi Commercial Bank (ADCB) 6.32 (0.32%).

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UAE markets 11 Mar 2008

UAE market news & discussions for 11 March 2008 Another quiet days trading on UAE markets today. The DFM index finished just under one per cent lower and the ADSM just over one per cent lower. Volumes continue to be constrained. The standout share on the DFM was SHUAA rising another 9.87% to close at 8.57 dirhams. HSBC Bank has issued a target price of Dh 12.60. The top traded share on the ADSM was AABAR closing down 5.28% at 4.18 dirhams on 54 million shares traded. Oil hits $109 in Asian trading, US VP Cheney heads to KSA for urgent discussions regarding the supply of oil. USD/UAE Peg. When you dont know what to do set up a committee. It has been reported the UAE Central Bank is to set up a committee to help coordinate the possible de-peging of the Dirham from the Dollar. The Committee will work day and night and report by the end of the year. Mean while in the real world speculation continues... Having introduced price controls for rents the UAE Government is now moving to regulate retail pricing by setting a Maximum Retail Price (MRP) that merchants can charge for some specified groceries. Once on this path governments find it hard to stop regulating increasing amounts of the economy. The risk is the UAE Government will damage the business friendly reputation of the UAE by over regulating. Generally competition and supply ensure fair pricing not government controls. For your Diary Today and Tomorrow Tuesday 11 March 2008 ENBD 07FY audited statements released NMDC BOD meeting new date 2008 TAQA BOD meeting dividends, convertible bonds. Wednesday 12 March 2008 TABREED AGM 7% share dividend proposed RAPCO last trading day before shares ex-dividend (not confirmed) TABREED EGM (postponed from 28 February 2008) Ajman Bank IPO share allotments DANA BOD meeting CBI BOD meeting QCEM AGM

• Takaful Al Emarat Insurance IPO
• Where is EMAAR price heading to?
• ABNIC Takaful JV with Uniqa Group - GN 11 Mar 08
• Insider trades March 2008
• AABAR trading 05 Mar 08
• DP World - learn from Reliance Power bonus shares 18 Feb 08
• DP World share price March 2008
• 11 March 2008 ADSM DFM DIFX disclosures & news
• FGB TKFL deal for home insurance - PR 10 Mar 2008
• Al Salam Bank DFM listing date 23 Mar 2008
• UNB new branch Qatar - PR 10 Mar 08
• ENBD lends AED 500m to Daman - PR 10 Mar 08
• UAE Central Bank to review dollar peg? - GN 11 Mar 2008
• UAE real estate companies fair values from Al Mal Capital
• Marketwatch DFM March 2008
• Emirates CEO says no IPO needed - TF 10 Mar 08
• AAAIC 2007 FY profit AED 210m +14% 30 Jan 2008
• SHUAA - HSBC report [BUY]
• TAMWEEL 2007 FY profit fall 47% to AED 451m - PR 20 Jan 2008
• 10 March 2008 ADSM DFM DIFX disclosures & news
• AABAR to sell Pearl Energy for AED 3.2 bn? 13 Jan 08
• EMAAR report Goldman Sachs - 09 Mar 08
• DP World shares review - KT 10 Mar 2008
• DIB new chairman - WAM 10 Mar 08
• DIB 2007 FY profit AED 2.5bn +60% 30 Jan 2008

More UAE stock market news and discussions...

best stock rises symbol price change GMPC 8.50 +0.77 +10% SHUAA 8.57 +0.77 +9.9% OEIHC 5.98 +0.54 +9.9% UAB 7.16 +0.64 +9.8% NGI 6.09 +0.29 +5%

worst stock falls symbol price change GLOBAL 14.70 -1.80 -10.9% UCC 3.98 -0.38 -8.7% AABAR 4.13 -0.23 -5.3% CBD 9.65 -0.50 -4.9% QCEM 3.15 -0.15 -4.5%

top volume symbol value (AED) price EMAAR 234,779,551 11.80 AABAR 225,820,518 4.13 ALDAR 136,244,509 10.90 DFM 133,231,338 5.91 AIRARABIA 101,237,782 2.07

Dubai Financial Market

The DFM index closed at 5,714 a fall of 0.74% from the previous close. 178 million shares were traded worth 857 million dirhams. Six shares advanced and eighteen declined.
The top traded share was AIRARABIA rising 0.48% to 2.07 dirhams on turnover of 48 million shares.

The only other share to rise on significant volume was Shuaa Capital (SHUAA) closing 9.87% at 8.57 dirhams.

Shares to fall included: DEYAAR 2.52 (1.17%), DFM 5.91 (0.33%), Emaar Properties (EMAAR) 11.80 (0.84%) and GULFNAV 1.60 (1.23%).

Abu Dhabi Securities Market

The ADSM index closed at 4,729 a fall of 1.17% from the previous close. 152 million shares were traded worth 822 million dirhams. Sixteen shares advanced and thirty one declined.
The top traded share was Aabar Petroleum (AABAR) falling 5.28% to 4.18 dirhams on turnover of 54 million shares.

Other shares to decline included: Aldar Properties (ALDAR) 10.90 (1.80%), Bank Of Sharjah (BOS) 3.41 (0.29%) and RAK Properties (RAKPROP) 2.51 (2.71%).

Shares to rise included: NBS 4.03 (0.25%), AGTHIA 2.07 (0.49%) and RAK Bank (RAKBANK) 8.48 (2.42%).

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UAE markets 10 Mar 2008

UAE market news & discussions for 10 March 2008 A subdued days trading on both UAE markets today. The DFM finished slightly up and the ADSM slightly down on low volumes. The top traded share on DFM was AIRARABIA falling 0.96% to 2.06 dirhams, however EMAAR finished up 0.84% and SHUAA continued its climb closing at 7.80 dirham a rise of 4.13%. The top traded share on ADSM was AABAR falling 2.90% to 4.28 dirhams on 18 million shares traded. The UAE economy contimues to power ahead expanding by 7.4% after inflation in 2007 with GDP reaching 698 billion dirhams. Goldman Sachs raises EMMAR share price target price to Dh 17.40 DFM Company Anouncements: CBD: DFM Announces the allocation of Commercial Bank of Dubai 25% bonus shares into shareholders accounts as per the company register closing on 09/03/2008 DIB: Dubai Islamic Bank declares 40% dividend and 15% bonus shares. ADSM Company Announcements: AABAR: Minutes of Aabar Energy EGM Held on March 9, 2008 RAKBANK: National Bank of Ras Al Khaimah announces its AGM results held on March 9, 2008 TAQA: Abu Dhabi National Energy Company announces holding board meeting on March 11, 2008 at 01:15 PM UCC: ADSM Announces Adjustment of Bonus Shares Issued By Union Cement Company UNION: Invitation to attend Union Insurance Company AGM & EGM on March 27, 2008 at 05:30 PM

• AABAR trading 05 Mar 08
• Emirates CEO says no IPO needed - TF 10 Mar 08
• Where is EMAAR price heading to?
• 10 March 2008 ADSM DFM DIFX disclosures & news
• UAE real estate companies fair values from Al Mal Capital
• AAAIC 2007 FY profit AED 210m +14% 30 Jan 2008
• SHUAA - HSBC report [BUY]
• DP World share price March 2008
• TAMWEEL 2007 FY profit fall 47% to AED 451m - PR 20 Jan 2008
• AABAR to sell Pearl Energy for AED 3.2 bn? 13 Jan 08
• EMAAR report Goldman Sachs - 09 Mar 08
• DP World shares review - KT 10 Mar 2008
• DIB new chairman - WAM 10 Mar 08
• DIB 2007 FY profit AED 2.5bn +60% 30 Jan 2008
• UAE GDP growth 7.4% in 2007 - R 09 Mar 08
• Marketwatch DFM March 2008
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• DRIVE 2007 FY results
• 09 March 2008 ADSM DFM DIFX disclosures & news
• FGB 2007 FY profit AED 2bn +31% 29 Jan 2008
• R66 Broker-client accounts to be separated - EB 08 Mar 08
• DIC > Emirates Glass 2007 FY profit up 106% - PR 08 Mar 08
• UAE stock dates with Google calendar
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• 08 March 2008 ADSM DFM DIFX disclosures & news

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best stock rises symbol price change IFA 12.50 +0.70 +5.9% AEIBANK 1039.55 +49.55 +5% OIC 10.25 +0.46 +4.7% DRIVE 5.50 +0.23 +4.4% SHUAA 7.80 +0.31 +4.1%

worst stock falls symbol price change FCI 7.20 -0.80 -10% NCTH 8.46 -0.89 -9.5% OEIHC 5.49 -0.51 -8.5% TKFL 7.00 -0.61 -8% WARE 20.20 -1.30 -6%

top volume symbol value (AED) price ADIB 329,191,575 67.25 EMAAR 286,416,354 11.90 DIB 173,649,958 12.05 ALDAR 155,737,530 11.10 FGB 103,289,090 21.75

Dubai Financial Market

The DFM index closed at 5,756 a rise of 0.095 from the previous close. 168 mllion shares traded worth 973 million dirhams. Eleven shares advanced and thirteen declined.
The top traded share was AIARABIA falling 0.96% to 2.06 dirhams on volume traded of 29 million shares.

Oher shares to fall included: Islamic Arab Insurance (IAIC) 3.51 (1.12%), GULFNAV 1.62 (0.61%) and DFM 5.93 (0.33%).

Shares to rise included: DEYAAR 2.55 (0.79%), Dubai Islamic Bank (DIB) 12.05 (0.83%), Emaar Properties (EMAAR) 11.90 (0.84%) and Shuaa Capital (SHUAA) 7.80 (4.13%).

Abu Dhabi Securities Market

The ADSM closed at 4,785 a fall of 0.58% from the previous close. 102 mllion shares traded worth 897 million dirhams. Fourteen shares advanced and thirty declined.
The top traded share was Aabar Petroleum (AABAR) falling 2.90% to 4.28 dirhams on turnover of 18 million shares traded.

Other shares to fall included: Aldar Properties (ALDAR) 11.10 (0.45%), Dana Gas (DANA) 2.34 (0.85%), First Gulf Bank (FGB) 21.75 (0.91%) and WAHA 2.67 (1.11%).

Shares to rise included: Bank Of Sharjah (BOS) 3.42 (0.89%), Abu Dhabi ShipBuilding (ADSB) 5.02 (0.40%) and Abu Dhabi Islamic Bank (ADIB) 67.25 (2.28%).

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UAE markets 09 Mar 2008

UAE market news & discussions for 09 March 2008 The markets today, unsurprisingly, fell again. With falling markets around the world and the Saudi market trickling down yesterday and today, it seems unlikely that the local markets can fight the general negative sentiment. Abu Dhabi Islamic Bank, however, had a good day with unusually high turnover and a small gain. A Dubai Investments subsidiary, Emirates Glass, said profits for 2007 were up by 106% but didn't actually say how much they were. Dubai Islamic Bank holds their Annual General Meeting this afternoon - dividends of 15% bonus shares and 40% cash have been proposed. See the list of disclosures and news on DubaiShareTalk.com for more from today. For your diary today and tomorrow Sunday, 09 March 2008 AABAR AGM new date 5:00pm AABAR EGM Pearl Energy sale CBD record date 2007 dividends DIB AGM 15% 40% dividends proposed FBICO 07FY financial results released NBAD convertible notes trading suspended OEIHC BOD meeting RAKWCT 07FY financial statements released Monday, 10 March 2008 ASCANA AGM 25% cash dividend proposed (not confirmed) DHAFRA AGM NBAD convertible notes trading suspended SALAM AGM & EGM, 12.5% share dividend proposed 5:00pm SICO AGM 20% dividend proposed (not confirmed)

DubaiShareTalk latest topics

• 09 March 2008 ADSM DFM DIFX disclosures & news
• ALFIRDOUS 2007 M9 profit AED 56m, Q3 26m 17 Feb 2008
• ASNIC Al Sagr takes over Union Insurance operations 04 Mar 08
• Borse Dubai could buy 40% of Karachi stock market - GN 07 Mar 08
• Borse Dubai to invest in Taiwan stock market IPO - BB 06 Mar 08
• BOS 2007 FY profit +26% to Dh404 m PR 28 Jan 08
• DFM - net foreign selling AED 309 m last week - PR 07 Mar 08
• DFM may get listings from 10 Pakistan companies - GN 07 Mar 08
• DFM profit 2007 AED 1.4 bn +76% - PR 13 Jan 2007
• DIB 2007 FY profit AED 2.5bn +60% 30 Jan 2008
• DIC > Emirates Glass 2007 FY profit up 106% - PR 08 Mar 08
• DP World share price March 2008
• DRIVE 2007 FY results
• EMAAR 2007 FY profit AED 6.57 bn +3.1% 16 Jan 2008
• EMAAR sells Downtown Dubai and Dubai Marina property - PR 06 Mar 2008
• FGB 2007 FY profit AED 2bn +31% 29 Jan 2008
• Insider trades March 2008
• IPOs coming up in the UAE 2008
• Marketwatch DFM March 2008
• QTEL rights issue 2008
• R66 Broker-client accounts to be separated - EB 08 Mar 08
• UAE stock dates with Google calendar
• 08 March 2008 ADSM DFM DIFX disclosures & news
• 07 March 2008 ADSM DFM DIFX disclosures & news

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best stock rises symbol price change WARE 21.50 +2.80 +15% GLOBAL 16.50 +2.00 +13.8% ALMADINA 11.00 +0.85 +8.4% GFH 15.40 +1.15 +8.1% RAKCEC 4.77 +0.28 +6.2%

worst stock falls symbol price change NBF 4.19 -0.46 -9.9% FOODCO 4.67 -0.46 -9% ADAVIATION 5.40 -0.33 -5.8% UCC 4.51 -0.25 -5.3% QCEM 3.20 -0.18 -5.3%

top volume symbol value (AED) price EMAAR 273,270,830 11.80 ADIB 178,952,318 65.75 DFM 128,631,725 5.95 AABAR 68,457,086 4.49 ALDAR 56,278,728 11.15

Dubai Financial Market

The DFMGI was down 1.4% to 5752 points from limited turnover of AED 728 million with Emaar Properties (EMAAR) and DFM the top traded stocks by value, falling by 2.1% to 11.80 and 1.5% to 5.95 respectively.

The gainers list had little of note - the big 14% and 15% jumps for Global Investment House (GLOBAL) and WARE came from just one small trade each. Only Arabtec (ARTC), up by 1.7%, and Shuaa Capital (SHUAA), up by 0.7%, out the actively traded shares made it into the table with the green arrows.

Islamic Arab Insurance (IAIC) tailed the field with its 3% fall to 3.55 (ignoring the 2 stocks that saw bigger falls on low volume trading). Amlak Finance (AMLAK) was down 2.15% to 4.55, Dubai Investments (DIC) 1.6%, and the rest of the losers fell less than 1.5%.

Abu Dhabi Securities Market

The ADSM index declined by 0.82% on stifled turnover of just AED 528 million. Abu Dhabi Islamic Bank (ADIB) stood out as the top stock by traded value with AED 179m worth and a 2.2% rise to 66.40, while RAK Ceramics (RAKCEC) topped the gainers table with a 6.7% rise to 4.75 from moderately low trading. Finance House (FH) was next in line on greater than AED 1 m worth of deals, with a 3.4% gain to 10.15. ADNIC rose 1.9%, Aabar Petroleum (AABAR) 0.9%, and another 3 stocks by less than 1% on moderate turnover. Five other stocks rose more than 1% but on thin volumes.

The standout loser today was ADAVIATION with a 5.8% drop to 5.32. The 2 larger falls were on turnover of less than AED 1 million. Bank Of Sharjah (BOS) lost 4% to close at 3.39, while Sorouh Real Estate (SOROUH) was the worst of the more usually active stocks, down by 1.8% to 10.80. NBS had a busy day and fell 1.7% to 4.10, Oasis Leasing (OILC) was down 1.5^ and most of the remaining actively traded stocks fell by less than 1.5%. Etisalat (ETISALAT) was down 1.2% to close at 24.30 on moderate turnover.

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• Discuss UAE companies at Dubai Share Talk.

UAE markets 06 Mar 2008

UAE market news & discussions for 06 March 2008 Both the DFM and ADSM stock markets rose slightly today with Sorouh Real Estate and Abu Dhabi Islamic Bank on the ADSM standing out with close to 4% rises and sturdy turnover, while Union Cement Company traded 10% limit up today on higher than usual turnover. There were no stand out movements on the DFM. On the DIFX, DP World shares were down 5% to $0.79 so far today but Gold Fields rose almost 7% from a handful of trades. HSBC brokerage said they had received approval from ESCA to offer broker services on the DFM and ADSM. Retail investors will have to wait a while longer before being able to trade through them though. Aabar said they had received an offer from Mubadala for 100% of their Pearl Energy holding (previously it was 90%). Dubai Financial Market signed another cross listing MoU, this time with the Karachi Stock Exchange. Their MoU box spilleth over ... Here is a further list of DFM ADSM DIFX disclosures and market news for today. Latest posts on DubaiShareTalk

• 06 March 2008 ADSM DFM DIFX disclosures & news
• AABAR to sell Pearl Energy for AED 3.2 bn? 13 Jan 08
• AABAR trading 05 Mar 08
• ADSB UAE Coast Guard Al Saber project - GN 06 Mar 08
• ALDAR 2007 FY profit +55% to AED 1.9 bn, misses forecasts - 22 Jan 08
• DFM signs MoU with Karachi stock market - PR 06 Mar 08
• DP World - learn from Reliance Power bonus shares 18 Feb 08
• EMAAR - Burj Dubai delay R 04 Mar 08
• HSBC first (?) international broker for ADSM & DFM - BB 30 Sep 2007
• Insider trades March 2008
• Marketwatch ADSM March 2008
• Marketwatch DFM March 2008
• Sorouh is the new market leader on the ADSM!
• UNB 2007 FY profit forecast +7.8% to AED 1.01 bn (TNI)
• Visa IPO

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best stock rises symbol price change UCC 4.66 +0.42 +9.9% FBICO 3.11 +0.25 +8.7% JULPHAR 2.74 +0.14 +5.4% BOS 3.53 +0.17 +5.1% NCC 12.10 +0.55 +4.8%

worst stock falls symbol price change GFH 14.25 -1.15 -7.5% UNION 2.91 -0.21 -6.7% CBD 11.20 -0.55 -4.7% ARIG 3.60 -0.15 -4% AKIC 1.70 -0.07 -4%

top volume symbol value (AED) price SOROUH 217,229,828 11.00 ADIB 205,638,223 64.35 EMAAR 182,049,766 12.05 ALDAR 172,626,305 11.15 AABAR 151,160,636 4.45

Dubai Financial Market

Another relatively muted day for the DFM with the index rising 0.48% to 5832 from turnover of only AED 842 million. Emaar Properties (EMAAR) and DFM saw the greatest turnover, rising 0.84% to 12.05 and 1.3% to 6.04 respectively. AMAN had the greatest rise in the more actively traded list but that was still only 2.6% to 27.20. Dubai Investments (DIC) and GULFNAV rose 1.9%, Islamic Arab Insurance (IAIC) 1.7%, and most of the other actively traded stocks rose less than 1.5%.

Commercial Bank of Dubai (CBD) fell by 4.7% to 11.20 - the biggest drop on turnover of more than AED 1 million. Arabtec (ARTC) fell 2.4% to 12.00, GGICO saw heavy insider trading and fell 1.05% to 14.10, another 4 stocks fell by less than 1% while Arab Insurance Group (ARIG) and GFH had large falls on thin trading.

Abu Dhabi Securities Market

The ADSM index rose 0.66% to 4853 on turnover of AED 1.1 billion - more than in Dubai which was unusual. Sorouh Real Estate (SOROUH) and Abu Dhabi Islamic Bank (ADIB) led the way, both with more than AED 200m of turnover, and rises of 3.8% to 10.95 and 3.9% to 65.50 respectively. Union Cement (UCC) volumes jumped with trading at 4.66 at 10% limit up for the day, and no sellers in the queue. ADAVIATION was another hot stock with heavy trading and a 3.8% rise to 5.59. A couple more obscure stocks saw a bit more activity with NBS up 2.4% and Gulf Cement (GCEM) up 2.1%. Another 16 stocks rose less than 2% with most of the more actively traded stocks gaining less than 1%.

National Marine Dredging (NMDC) topped the losers list on turnover of more than AED 1 million, with a 3.1% fall to 8.65. RAK White Cement (RAKWCT) dropped by 1.3%, ARKAN by 0.76%, Abu Dhabi Commercial Bank (ADCB) by 0.46%, and Etisalat (ETISALAT) by 0.4% to 24.75.

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

UAE markets 05 Mar 2008

UAE market news & discussions for 05 March 2008 A subdued days trading on UAE markets today. Both indicies finished down on low volumes. On the DFM, the decline was broadly based with all the popular shares finishing down. SHUAA snapped its recent winning run ending down 2.09% at 7.49 dirhams. On the ADSM winners and losers were generally equal. FGB stood out rising more than 5% to 21.90 dirhams and ARKAN finished down 1.25% to 3.96 dirhams on turnover of 51 million shares. Credit Market Fallout: Dubai Electricity and Water Authority (DEWA) will delay raising $19 billion in debt until the second half of 2008. If quality borrowers like DEWA are finding it difficult to raise funds it shows the extent of the credit market woes. OPEC decided to keep oil output unchanged, blaming the current hight oil price on all factors other than supply. The Investment Corporation of Dubai (ICD) has reportedly come to terms with leading shareholders of Spanish property group Colonial. DFM Company Announcements AHI: Arab Heavy Industries agenda of its AGM being held on 26/3/2008 ALLIANCE: Alliance Insurance announces its BOD meeting results held on 04/03/2008 including its AGM date and the recommended dividends AOIC: DFM Announces the allocation of Arab Orient Insurance 25% bonus shares into shareholders accounts as per the company register closing on 05/03/2008 CBD: Reminder: Today 05/03/2008, is the last trading date to entitle for Commercial Bank of Dubai distributions. MASQ: Mashreq announces the resolutions of its AGM held on 04/03/2008 NGI: National General Insurance announces the resolutions of its AGM held on 04/03/2008 ADSM Company Announcements ADIB: Abu Dhabi Islamic Bank AGM postponed to 11 March 2008 at 7:00PM ARKAN: Arkan Building Materials owning 40% of Vision Group AWNIC: Al Wathba Insurance announces its AGM results held on 04/03/2008

• EMAAR - Burj Dubai delay R 04 Mar 08
• 05 March 2008 ADSM DFM DIFX disclosures & news
• DIC FIE JV - Al Taif Investments launched - PR 05 Mar 08
• ICD Dubai to bid AED 16.5 bn for Spain's Colonial - R 27 Feb 08
• EMAAR Cham (Syria) JV - 06 Mar 08
• Insider trades March 2008
• Ajman Bank IPO opening price poll
• DP World - learn from Reliance Power bonus shares 18 Feb 08
• UAE cement shortage - 04 Mar 08
• NBAD international trading - KT 05 Mar 08
• MAZAYA capital increase 20% for investor - EB 05 Mar 08
• ARTC FV 15.60 By Shuaa Capital 04 Feb 08
• Marketwatch DFM March 2008
• AKIC 2007 FY profit AED 140m +68% 31 Jan 2008
• Marketwatch ADSM March 2008
• EMAAR expansion to Kuwait - R 04 Mar 08
• Where is EMAAR price heading to?
• Global DIB Millennium Islamic Buyout Fund
• Air Arabia 2007 profit forecast AED 350m
• Al Qudra IPO delay - 02 Mar 2008
• 04 March 2008 ADSM DFM DIFX disclosures & news
• ADCB 2008 profit forecast +20%
• ADCB expansion plans - GN 04 Mar 2008
• SOROUH Goodman JV - 04 Mar 08
• FH Finance House foreign ownership [Rumour]? 03 Mar 08

More UAE stock market news and discussions...

best stock rises symbol price change OEIHC 6.03 +0.51 +9.2% UCC 4.88 +0.32 +7% FGB 21.90 +1.13 +5.4% AAAIC 138.00 +6.50 +4.9% GGICO 14.25 +0.60 +4.4%

worst stock falls symbol price change DRIVE 5.07 -0.43 -7.8% INVESTB 3.41 -0.24 -6.6% FOODCO 4.95 -0.34 -6.4% FH 9.63 -0.57 -5.6% ASMAK 6.54 -0.36 -5.2%

top volume symbol value (AED) price SOROUH 225,563,820 10.60 ARKAN 204,199,469 3.96 EMAAR 124,336,078 11.95 ALDAR 106,643,510 11.10 AABAR 96,817,280 4.42

Dubai Financial Market

The DFM index closed at 5,804 a fall of 0.90% from the previous close. 130 mllion shares were traded worth 714 million dirhams. Three shares advanced and eighteen declined.
The top traded share was AIRARABIA falling 0.47% to 2.10 dirham on turnover of 31 million shares traded.

Other shares to fall included: DEYAAR 2.57 (0.77%), DFM 5.96 (0.50%), Emaar Properties (EMAAR) 11.95 (0.82%) and Shuaa Capital (SHUAA) 7.49 (2.09%).

Shares to rise included: GGICO 14.25 (4.39%) and ALFIRDOUS 2.43 (0.82%).

Abu Dhabi Securities Market

The ADSM index closed at 4,821 a fall of 0.02% from the previous close. 182 million shares were traded worth 985 million dirhams. Sixteen shares advanced and twenty five declined.
The top traded share was ARKAN falling 1.25% to 3.96 dirhams on turnover of 51 million shares traded.

Other shares to fall included: Aabar Petroleum (AABAR) 4.42 (2.21%), Dana Gas (DANA) 2.38 (0.42%) and WAHA 2.73 (1.09%).

Shares to rise included: Abu Dhabi Commercial Bank (ADCB) 6.55 (0.15%), First Gulf Bank (FGB) 21.90 (5.44%), RAK Cement (RAKCC) 2.09 (1.46%), Sorouh Real Estate (SOROUH) 10.60 (3.92%) and RAK Properties (RAKPROP) 2.64 (1.54%).

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UAE markets 04 Mar 2008

UAE market news & discussions for 04 March 2008 A strong day on UAE markets today with both indicies up more than one percent, however, the value of shares traded on both markets was subdued. The two standout shares on the DFM were SHUAA up 5.22% to 7.65 dirhams and ARTC up 3.36% to 12.30 dirhams. The top traded share on ADSM was WAHA rising 2.22% to 2.76 dirhams on turnover of 39 million shares traded. In a relief for inflation watchers according to top officials the introduction of VAT in the GCC could be some way off due to disagreements amongst member states. EMAAR still plans to complete the Burj Dubai in 2008 four months behind schedule according to the CEO. ADCB, CEO predicts profits to rise at least 20% this year on higher lending to consumers. Whatever Dubai can do QATAR can do better. The QATAR Cabinet has agreed to freeze all rents signed since 2005 for two years local papers are reporting. DFM Company Announcements AMAN: Dubai Islamic Insurance and Reinsurance announces its AGM to be held on 31/03/2008 including the meetings agenda AOIC: REMINDER: Today, 04/03/2008 is the Ex-dividend date for Arab Orient Insurance shares and trading resumes with the adjusted price due to distributions of bonus shares. MASQ: DFM Suspend trading on Mashreq starting from 10:00 AM as its AGM is being held & trading will resume once results are disclosed. MAZAYA: Mazaya BOD recommends increasing the company capital. NGI: Reminder: AGM of National General Insurance is being held today, 04/03/2008 ADSM Company Announcements FH: Finance House announces holding board meeting on 5/3/2008 at 5:00 PM WAHA: Result of WAHA(OILC) Capital AGM 04/03/2008 SOROUH: Sorouh Real Estate enters into a joint venture agreement with Goodman

• Where is EMAAR price heading to?
• Insider trades March 2008
• Air Arabia 2007 profit forecast AED 350m
• Marketwatch ADSM March 2008
• Al Qudra IPO delay - 02 Mar 2008
• DP World - learn from Reliance Power bonus shares 18 Feb 08
• 04 March 2008 ADSM DFM DIFX disclosures & news
• ADCB 2008 profit forecast +20%
• ADCB expansion plans - GN 04 Mar 2008
• SOROUH Goodman JV - 04 Mar 08
• FH Finance House foreign ownership [Rumour]? 03 Mar 08
• Air Arabia correction due? Jan 2008
• AHI 2007 FY profit AED 53m +118% 24 Jan 2008
• ADSB Chairman's report FY 2007
• ADSB 2007 FY profit AED 26m -45% 31 Jan 2008
• Ajman Bank IPO 60x oversubscribed R 02 Mar 08
• KHI 2007 FY profits -20% to $34.1 m - R 03 Mar 08
• Ajman Bank IPO - how many shares will I get?
• DP World report HSBC $1.03 - KT 03 Mar 08
• ADCB approved to buy Malaysia'a RHB stake - R 02 Mar 08
• Aabar Thailand deal with Horizon and Northern Gulf - PR 03 Mar 08
• ADCB boss says reconsider currency peg - R 03 Mar 08
• 03 March 2008 ADSM DFM DIFX disclosures & news
• Ajman Bank IPO
• Al Qudra IPO

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best stock rises symbol price change ASMAK 6.90 +0.40 +6.2% NMDC 8.82 +0.52 +6.3% SHUAA 7.65 +0.38 +5.2% FOODCO 5.29 +0.23 +4.5% OEIHC 5.52 +0.24 +4.5%

worst stock falls symbol price change INVESTB 3.65 -0.35 -8.8% DRIVE 5.50 -0.40 -6.8% ARIG 3.75 -0.15 -3.8% ADSB 4.99 -0.17 -3.3% FH 10.20 -0.25 -2.4%

top volume symbol value (AED) price EMAAR 213,303,104 12.10 DFM 176,098,446 5.99 OILC 136,367,369 2.76 ALDAR 121,032,847 11.10 TABREED 118,772,070 3.15

Dubai Financial Market

The DFM index closed at 5,857 a rise of 1.38% previous close. 236 million shares were traded worth 1.1 billion dirhams. Twenty shares advanced and two declined.
The top traded shares were AIRARABIA 2.11 rising 1.44% on turnover of 38 million and DEYAAR rising 1.17% to 2.59 dirhams on volume of 34 million shares traded.

Other shares to rise included: Arabtec (ARTC) 12.30 (3.36%), DFM 5.99 (1.18%), Emaar Properties (EMAAR) 12.10 (1.68%) and Shuaa Capital (SHUAA) 7.65 (5.22%).

Losers included: Arab Insurance Group (ARIG) 3.75 (3.84%) and ALFIRDOUS 2.41 (0.41%) on low trading volumes.

Abu Dhabi Securities Market

The ADSM index closed at 4,822 a rise of 1.10% from the previous close. 147 million shares were traded worth 870 million dirhams. Thirty shares advanced and nine declined.
The top traded share was WAHA rising 2.72% to 2.76 dirhams on turnover of 39 million shares traded.

Other shares to rise included: Aldar Properties (ALDAR) 11.15 (2.29%), Dana Gas (DANA) 2.39 (0.42%) and Sorouh Real Estate (SOROUH) 10.20 (2.62%).

Shares to fall included: Abu Dhabi ShipBuilding (ADSB) 5.00 (3.10%), ARKAN 4.02 (1.47%) and DRIVE 5.55 (5.93%)

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UAE markets 03 Mar 2008

UAE market news & discussions for 03 March 2008 Another down day for UAE markets. The DFM index was off more than one and a half per cent lead by the DFM itself down over 3 per cent. However, DEYAAR, DIB, AMLAK and EMAAR were also all down by over 2 per cent. The ADSM index closed down by 0.37% lead by falls in the property and gas sectors. Subprime touches Gulf Banks: Arab Banking Group, Gulf Investment Corp and Gulf International Bank wrote down a combined 1.5 billion dollars according to the Middle East Economic Digest. AL Qudra said on Sunday it would delay its IPO to later this year pending changes to the law regarding the percentage of the company offered in the Float. Investors offered at least 60 times (Dhs 33 billion) more than the Dhs 550 million the AJMAN Bank was looking for in its float that closed last Wednesday. ADCB get approval to buy a 25% stake in Malaysia's 4th largest bank RHB Capital. ADSM Company Announcements AABAR: Aabar Energy AGM postponed to 9 March. ARKAN: Result of Arkan Building Materials board meeting and invitation to attend the AGM on 26 March DANA: Dana Gas Project in Iraqi Kurdistan over 70% Complete INVESTB: ADSM Announce Adding Invest Bank Bonus Shares to accounts NMDC: NMDC Board meeting postpond to 11 march 2008 WAHA: Invitation to attend Waha Capital (OILC) AGM on March 3,2008 UNION: Appoints general manager of Union Insurance Co DFM Company Announcements AOIC: Today 03/03/2008, is the last trading date for entitlement of Arab Orient Insurance Company distributions

• DP World - learn from Reliance Power bonus shares 18 Feb 08
• 03 March 2008 ADSM DFM DIFX disclosures & news
• Ajman Bank IPO 60x oversubscribed R 02 Mar 08
• FH Finance House foreign ownership rumour? 03 Mar 08
• Al Qudra IPO delay - 02 Mar 2008
• DP World report HSBC $1.03 - KT 03 Mar 08
• ADCB approved to buy Malaysia'a RHB stake - R 02 Mar 08
• Aabar Thailand deal with Horizon and Northern Gulf - PR 03 Mar 08
• ADCB boss says reconsider currency peg - R 03 Mar 08
• Ajman Bank IPO
• Al Qudra IPO
• MarketWatch Feb 2008 DFM ADSM
• ADNIC 2007 FY profit AED 330m +10% 30 Jan 2008
• Tamweel report by Mac-Capital 12-02-08
• ADNH 2007 FY profit AED 480m +63% 30 Jan 2008
• ADIB 2007 FY profit AED 770m +35% 27 Jan 2008
• ADIB new CEO Tirad Mahmoud - KT 04 Feb 08
• DIB Pakistan 2007 results - PR 02 Mar 08
• Nasdaq CEO gets DIFX VC position - R 01 Mar 08
• Dana gas supply to Kurds from mid 2008 - R 02 Mar 08
• TABREED report TNI - 02 Mar 08
• Insider trades March 2008
• 02 March 2008 ADSM DFM DIFX disclosures & news
• Al Salam Bank Bahrain DFM listing
• Al Salam Bank 2007 FY results and AGM - PR 21 Feb 2008

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best stock rises symbol price change OEIHC 5.28 +0.48 +10% FH 10.25 +0.73 +7.7% FOODCO 5.06 +0.32 +6.8% FCI 8.00 +0.43 +5.7% ASMAK 6.50 +0.24 +3.8%

worst stock falls symbol price change ADAVIATION 5.36 -0.42 -7.3% NMDC 8.58 -0.65 -7% ASCANA 2.85 -0.14 -4.7% UCC 4.61 -0.20 -4.2% TABREED 3.08 -0.13 -4%

top volume symbol value (AED) price EMAAR 329,833,075 11.90 DFM 327,136,699 5.92 ARKAN 231,029,336 4.08 DIB 157,062,377 11.95 DEYAAR 115,446,086 2.56

Dubai Financial Market

The DFM index closed at 5,777 down 1.52% from the previous close. 275 million shares were traded worth 1.3 billion dirhams. Four shares advanced and twenty declined.
The top traded share was the DFM itself falling 3.42% to 5.92 dirhams on turnover of 54 million shares traded.

Other shares to fall included: AIRARABIA 2.08 (1.42%), Amlak Finance (AMLAK) 4.60 (2.54%), DEYAAR 2.56 (2.29%), Dubai Islamic Bank (DIB) 11.95 (2.44%), Emaar Properties (EMAAR) 11.90 (2.05%) and GULFNAV 1.62 (0.61%).

Shares to rise included: Shuaa Capital (SHUAA) 7.27 (0.27%), Du Telecom (DU) 6.38 (0.31%) and Arabtec (ARTC) 11.90 (0.42%).

Abu Dhabi Securities Market

The ADSM index closed at 4,769 down 0.37% from the previous close. 149 million shares were traded worth 788 million dirhams. Fourteen shares advanced and twenty four declined.
The top traded share was ARKAN rising 1.24% to 4.08 dirhams on turnover of 56 million shares traded.

Other shares to rise included: Union National Bank (UNB) 9.41 (0.97%), Gulf Cement (GCEM) 6.82 (2.87%) and Abu Dhabi Islamic Bank (ADIB) 61.95 (2.57%) all on small volumes.

Shares to fall included: Aldar Properties (ALDAR) 10.90 (0.91%), Dana Gas (DANA) 2.38 (1.65%), RAK Properties (RAKPROP) 2.57 (2.65%), Sorouh Real Estate (SOROUH) 9.94 (1.09%) and Aabar Petroleum (AABAR) 4.53 (1.95%).

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• Discuss UAE companies at Dubai Share Talk.

UAE markets 02 Mar 2008

UAE market news & discussions for 02 March 2008 Both markets in the UAE closed lower today. The DFM, after closing higher every day last week finally sucumbed and closed 1.56% lower today. All the market favourites closed lower including EMAAR, DFM, AMLAK and DEYAAR. The ADSM closed lower by 0.59% led by ALDAR losing 5.17% to 11.00 dirhams. According to trading figures released on Saturday the DFM was kept afloat last week by foreign buying. UAE locals, GCC and other Arab countries were all net sellers. Dubai retained its position as the leading Financial Centre in the region in the latest Global Financial Centres Index (GFCI). To ensure the UAE does not miss out on the high oil price, the UAE's sustainable oil output should reach 3 million barrels per day in the near future driven by additional investment in the countries oil fields. DFM Company Annoucements ARTC: Arabtec releases its agenda of its AGM being held on 24/3/2008 OIC: DFM Announces the allocation of Oman Insurance 35% bonus shares into shareholders accounts as per the company register closing on 28/02/2008 TABREED: Tabreed EGM postponed to 12/3/2008 due to lack of quorum ADSM Company Anouncements ADSM: signs MoC with Gre Tai Securities Market (Taiwan) FCI: Fujairah Cement discloses board report on annual 2007 financial results JULPHAR: Julphar announces postponing AGM scheduled to be held on April 03 2008 At 2:00 NBAD: Invitation to attend NBAD general assembly meeting on March 23, 2008 at 5:00 PM RAKWCT: Results of RAK White Cement BOD meeting and Invitation to attend general assembly meeting on March 27, 2008 at 10:30 AM

• Nasdaq CEO gets DIFX VC position - R 01 Mar 08
• 02 March 2008 ADSM DFM DIFX disclosures & news
• Dana gas supply to Kurds from mid 2008 - R 02 Mar 08
• TABREED report TNI - 02 Mar 08
• Insider trades March 2008
• DP World - learn from Reliance Power bonus shares 18 Feb 08
• MarketWatch Feb 2008 DFM ADSM
• Al Salam Bank Bahrain DFM listing
• Al Salam Bank 2007 FY results and AGM - PR 21 Feb 2008
• Al Salam Bank Sudan listing in UAE
• Market Watch DFM ADSM March 08
• Where is EMAAR price heading to?
• Where is amlak heading?
• ADCB 2007 FY profit -2.9% to Dh2.09 bn, misses own forecast 04 Feb 08
• AGTHIA 2007 FY profit AED 38m +31% 29 Jan 2008
• ABNIC 2007 FY profit AED 160m +34% 04 Feb 2007
• AAAIC 2007 FY profit AED 210m +14% 30 Jan 2008
• DFM net foreign investment AED 280m last week - PR 01 Mar 08
• Al Qudra new CEO - PR 01 Mar 08
• ICD Dubai to bid AED 16.5 bn for Spain's Colonial - R 27 Feb 08
• Marketwatch ADSM March 2008
• Marketwatch DFM March 2008
• MarketWatch ADSM 17 Feb 08
• MarketWatch DFM 01 Dec 07
• What are they talking about? UAE market comments EB 29 Feb 08

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best stock rises symbol price change OEIHC 4.80 +0.41 +9.3% FOODCO 4.74 +0.35 +8% ARIG 3.99 +0.26 +7% TKFL 7.71 +0.40 +5.5% ADSB 5.29 +0.24 +4.8%

worst stock falls symbol price change ALMADINA 10.15 -0.85 -7.7% FH 9.52 -0.68 -6.7% FBICO 2.86 -0.16 -5.3% ALDAR 11.00 -0.60 -5.2% GULFNAV 1.63 -0.06 -3.6%

top volume symbol value (AED) price EMAAR 290,836,750 12.15 DFM 151,741,772 6.13 ALDAR 109,417,240 11.00 DEYAAR 99,184,744 2.62 AABAR 98,081,018 4.62

Dubai Financial Market

The DFM index closed at 5,866 a fall of 1.56% from the previous close. 192 million shares were traded worth 915 mllion dirhams. Five shares advanced and nineteen declined.
The top traded share was DEYAAR falling 1.87% to 2.62 dirhams on turnover of 38 million shares traded.

Other shares to fall included: AIRARABIA 2.11 (1.86%), Amlak Finance (AMLAK) 4.72 (2.27%), DFM 6.13 (2.23%), Emaar Properties (EMAAR) 12.15 (2.40%) and GULFNAV 1.63 (3.55%).

Shares to rise included: Shuaa Capital (SHUAA) 7.25 (0.83%) and GRAND, Commercial Bank of Dubai (CBD) and Arab Insurance Group (ARIG) all rose on small volumes.

Abu Dhabi Securities Market

The ADSM index closed at 4,787 a fall of 0.59% from the previous close. 123 million shares were traded worth 652 million dirhams. Sixteen shares advanced and twenty declined.
The top traded share was Aabar Petroleum (AABAR) rising 1.54% to 4.60 dirhams on turnover of 21 million shares traded.

Other shares to rise included: Abu Dhabi ShipBuilding (ADSB) 5.29 (4.75%), RAK White Cement (RAKWCT) 2.38 (3.48%). Etisalat (ETISALAT) 25.00, and Dana Gas (DANA) 2.42 finished unchanged.

Shares to fall included: Aldar Properties (ALDAR) 11.00 (5.17%), ARKAN 4.03 (1.47%), RAK Properties (RAKPROP) 2.64 (1.49%) and Sorouh Real Estate (SOROUH) 10.05 (1.47%).

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