UAE markets 17 Jul 2007

UAE market news & discussions for 17 July 2007 Both UAE markets fall today as investors digest results from major companies like EMAAR and ADCB. On the DFM, AIRARABIA starts trading on huge volume and a closes at a 11% premium to the subscription price. On the ADSM, ADCB falls by more than one percent on modest volume.

• AIRARABIA floats 17 July 2007 - what price?
• 17 July 2007 UAE financial and stockmarket news
• DIFC to bid for OMX ... again?? - 14 Jul 2007
• TAQA CEO targetting AED 15 bn acquisitions in 12 months - R 17 Jul 07
• EMAAR 2007 profit Q2 AED 1.548 bn +1%, H1 AED 3.267 bn +7%
• EMAAR (doesn't) clarify Dubai Holding deal? 16 May 2007
• DANA Gas announces launch of $1 bn Convertible Sukuk - 16 Jul 07
• ETISALAT - Atlantique subsidiary to be shut down in Benin - 09 Jul 2007
• AGTHIA to sell Mother Parkers Tea & Coffee products in UAE - 16 Jul 2007
• ADCB 2007 profit Q2 AED 506m -12%, H1 AED 976m -19% from 2006
• Air Arabia initiation report from Shuaa 16 July 2007
• NBS 2007 profit Q2 AED 70m +135%, H1 AED 121m +33% from 2006
• 2007 Q2 results for DFM and ADSM companies
• INVESTB 2007 profit Q2 AED 50m +82%, H1 AED 122m +11% from 2006
• DFM 2007 profit Q2 AED 185m, H1 AED 748m
• EMAAR setting up 100% Hamptons subsidiary in India? - 16 Jul 2007
• DIFX - Swiss brokers allowed to trade directly - PR 15 July 2007
• DIC - AED 51 bn investment in DIP by 2008, new EBC opens - 15 Jul 07
• Emaar DHA Islamabad Ltd assigned 'PE 1' developer rating PR 16 Jul 07
• Share buybacks for UAE stocks
• GLOBAL 10% share buyback approved 16 July 2007
• OIC - Board of Directors change (Arabic disclosure) - 16 July 2007
• WARE / AGLTY AED 3.7 bn contract in Al Seyassah news denied 16 July 07
• AMLAK 2007 Q2 profit +86.4% to AED 82m, H1 profit +31% to AED 106m
• ETISALAT 2007 H1 dividend - 25% cash

More UAE stock market news and discussions...

best stock rises symbol price change AIRARABIA 1.11 +0.11 +11% ASMAK 6.86 +0.46 +7.2% UNION 2.40 +0.09 +3.9% ADSB 2.97 +0.09 +3.1% JULPHAR 2.02 +0.05 +2.5%

worst stock falls symbol price change OIC 7.35 -0.38 -4.9% NCC 12.00 -0.60 -4.8% ARIG 3.06 -0.12 -3.8% EMAAR 11.55 -0.45 -3.8% FCI 4.38 -0.12 -2.7%

top volume symbol value (AED) price AIRARABIA 767,765,367 1.11 EMAAR 501,946,990 11.55 TAQA 152,660,914 3.05 DANA 91,121,808 1.72 AABAR 58,616,818 3.83

Dubai Financial Market

The DFM index finished todays trading at 4,419 down 1.79% from yesterdays close. 826 million shares traded worth 1.5 billion dirhams. Two shares advanced and twenty one declined.
AIRARABIA shares easily topped trading with 695 million changing hands. the sharfes finished at 1.11 a 11% premium to the price paid by share holders.
EMAR fell 3.75% to 11.55 as investors digested the H1 results.

Other shares to trade on reasonable volume all finished down and included Amlak Finance Company (AMLAK) 3.52 (2.22%), GULFNAV 1.33 (1.48%) and UNION 3.29 (2.08%).

Abu Dhabi Securities Market

The ADSM index finished todays trading at 3,674 down 0.32% from yesterdays close. 196 million shares traded worth 534 million dirhams. Ten shares advanced and twenty nine declined.

Shares to rise on reasonable volume included Emirates Telecommunications Company (ETISALAT) 18.90 (0.27%), ASMAK 6.86 (7.19%) and Abu Dhabi Ship Building (ADSB) 2.97 (3.13%).

Shares to fall on reasonable volume included ABAR 3.79 (2.30%), ARKAN 1.72 (0.58%), Abu Dhabi Commercial Bank (ADCB) 7.32 (1.21%), Dana Gas PJSC (DANA) 1.72 (0.58%), Oasis International Leasing Company PJSC (OILC) 1.51 (2.58%) and Ras Al Khaimah Properties PJSC (RAKPROP) 1.70 (1.16%).

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UAE markets 16 Jul 2007

UAE market news & discussions for 16 July 2007 A steady day on both markets today with the DFM finishing slightly lower and the ADSM slightly higher. Share volumes continue to reflect summer trading conditions. After the market closed EMAAR released its H1 results for 2007. Net profit was 3.279 billion dirhams an increase of 7% from 2006. Revenue increased by .59% to 8.78 billiion dirhams. Annualised earning per share rose to 1.08 dirhams. The DFM announced the listing of Air Arabia shares tomorrow. TAQA 3.05 dominated trading on the ADSM with 88 million shares changing hands and the share finishing up 4.81%.

• OIC - Board of Directors change (Arabic disclosure) - 16 July 2007
• EMAAR 2007 profit Q2 AED 1.548 bn +1%, H1 AED 3.267 bn +7%
• WARE / AGLTY AED 3.7 bn contract in Al Seyassah news denied 16 July 07
• AMLAK 2007 Q2 profit +86.4% to AED 82m, H1 profit +31% to AED 106m
• ETISALAT 2007 H1 dividend - 25% cash
• UFC - changes to board of directors 16 July 2007
• 16 July 2007 UAE financial and stockmarket news
• EBI NBD merger terms announced - Emirates NBD PJSC 12 July 2007
• EBI Emirates NBD to allow 5% foreign ownership - 16 Jul 07
• 2007 Q2 results for DFM and ADSM companies
• UAB 2007 profit Q2 AED 49m +53%, H1 AED 95m +40% from 2006
• QTEL interested in Wataniya but Etisalat not - 28 Feb 2007
• FBICO general assembly 17 July 2007 results?
• CBD Board of Directors changes - 15 July 2007
• ACICO 2007 Q2 results - BOD meeting 16 July 2007
• GLOBAL 2007 Q2 results - BOD meeting 16 July 2007
• SALAM 2007 Q2 & H1 results - release date 31 July 2007
• DFM sells AED 1.3 bn shares July week 2 to foreigners - PR 14 Jul 07
• 15 July 2007 UAE financial and stock news
• Minimum public float to drop from 55% to 30% - why only 20% for DFM?
• DFM 2007 profit Q2 AED 185m, H1 AED 748m
• Arabtec / DCC to construct AED 1 bn hotel - 14 Jul 2007
• 14 July 2007 UAE financial and stock news
• DIFC to bid for OMX ... again?? - 14 Jul 2007
• Alphabetical list of DIFX stocks, listed companies, and DIFX brokers

More UAE stock market news and discussions...

best stock rises symbol price change AABAR 3.92 +0.26 +7.1% RAKBANK 7.30 +0.49 +7.2% NCC 12.60 +0.60 +5% TAQA 3.05 +0.14 +4.8% SCIDC 4.37 +0.20 +4.8%

worst stock falls symbol price change NMDC 4.76 -0.19 -3.8% MAZAYA 7.50 -0.25 -3.2% FH 7.65 -0.25 -3.2% ADSB 2.88 -0.08 -2.7% RAKWCT 2.16 -0.05 -2.3%

top volume symbol value (AED) price TAQA 270,736,375 3.05 SOROUH 189,342,838 4.64 EMAAR 161,936,729 12.00 AABAR 125,394,478 3.92 GULFNAV 80,724,163 1.35

Dubai Financial Market

The DFM index closed today at 4,499 a fall of .26% from yesterdays close. Perhaps significantily it has closed below 4500. 118 million shares traded worth 459 million dirhams. Five shares advanced and eleven declined.
GULFNAV dominated with 59 million shares traded with the price finishing unchanged on the day.
Despite Emaar Properties PJSC (EMAAR) releasing its results after the market closed the share price remained flat on moderate volume.

Shares to rise on the day included Dubai Investments PJSC (DIC) 4.79 (.41%), ARAMEX 2.71 (.37%) and DFM 3.27 (.30%).

Shares to fall on the day included MAZAYA 7.50 (3.22%), Dubai Islamic Bank (DIB) 10.35 (.95%) and UNION 3.36 (.29%).

Abu Dhabi Securities Market

The ADSM index closed today at 3,686 a rise of .25% from yesterdays close. 255 million shares traded worth 872 million dirhams. Fifteen shares advanced and nineteen declined.
Abu Dhabi National Energy Company (TAQA) 3.05 dominated with 88 million shares traded rising 4.81% on the day.

Other shares to rise included ABAR 3.92 (7.10%), Dana Gas PJSC (DANA) 1.73 (1.76%) and Sorouh Real Estate (SOROUH) 4.64 (1.09%).

Shares to fall included ARKAN 1.73 (.57%), Commercial Bank International (CBI) 2.20 (.45%) and Finance House PJSC (FH) 7.65 (3.16%).

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UAE markets 15 Jul 2007

UAE market news & discussions for 15 July 2007 A very quiet days trading on both UAE markets today. the DFM index finished slightly higher and the ADSM index slightly lower. Dubai Financial Market released their results however, the shares finished slightly down on the day. EMAAAR set 16 July for the release of their first half results. OILC dominated trading on the ADSM finishing 1.97% higher on the day.

• FBICO general assembly 17 July 2007 results?
• CBD Board of Directors changes - 15 July 2007
• ACICO 2007 Q2 results - BOD meeting 16 July 2007
• GLOBAL 2007 Q2 results - BOD meeting 16 July 2007
• EMAAR Q2 profit forecast AED 1.90 bn up 23.2%, results 16 Jul 07
• EBI NBD merger terms announced - Emirates NBD PJSC 12 July 2007
• SALAM 2007 Q2 & H1 results - release date 31 July 2007
• DFM sells AED 1.3 bn shares July week 2 to foreigners - PR 14 Jul 07
• 15 July 2007 UAE financial and stock news
• Minimum public float to drop from 55% to 30% - why only 20% for DFM?
• DFM 2007 profit Q2 AED 185m, H1 AED 748m
• Arabtec / DCC to construct AED 1 bn hotel - 14 Jul 2007
• 14 July 2007 UAE financial and stock news
• DIFC to bid for OMX ... again?? - 14 Jul 2007
• Alphabetical list of DIFX stocks, listed companies, and DIFX brokers
• DIFX - new laws to let UAE companies list - FT 11 Jul 07
• DIFX - Khazanah Nasional Berhad AED 3.1 bn Sukuk listed 07 Jul 07
• DP World IPO
• DP World AED 11.9 bn Sukuk and Bond listing on DIFX - 03 Jul 07
• 13 July 2007 UAE financial and stockmarket news
• 'Pimpin' for Global Warming - KT 13 Jul 07
• Etisalat to allow foreign ownership of shares... 30 Mar 2006
• 12 July 2007 UAE financial and stockmarket news
• TAQA rating upgraded to AA2 by Moody's - 11 July 2007
• Al Hilal Islamic Bank IPO

More UAE stock market news and discussions...

best stock rises symbol price change AABAR 3.66 +0.21 +6.1% GFH 9.00 +0.25 +2.9% QCEM 2.25 +0.05 +2.3% OILC 1.55 +0.03 +2% UAB 7.11 +0.11 +1.6%

worst stock falls symbol price change UNION 2.28 -0.15 -6.2% DRIVE 3.24 -0.15 -4.4% MAZAYA 7.75 -0.25 -3.1% ADCB 7.47 -0.20 -2.6% CBI 2.21 -0.05 -2.2%

top volume symbol value (AED) price OILC 115,697,406 1.55 SOROUH 114,631,312 4.59 AABAR 110,494,120 3.66 ALDAR 67,506,553 7.93 DFM 54,400,110 3.26

Dubai Financial Market

The DFM index finished todays trading at 4511 a slight rise of .10% from Thursdays close. 64 million shares traded worth 241 million dirhams. Three shares advanced and fourteen declined.

The shares that rose on the day included Dubai Islamic Bank (DIB) 10.45 (1.45%), Emirates Bank International Group (EBI) 9.41 (1.18%) and GFH 9.00 (2.85%).

Shares that declined on the day included Tamweel PJSC (TAMWEEL) 4.43 (1.11%), National General Cooling Company PJSC (TABREED) 2.77 (1.07%), AMAN 26.70 (.92%), and DFM 3.26 (.91%).

Abu Dhabi Securities Market

the ADSM index finished todays trading at 3677 a slight fall of .19% from Thursdays close. 191 million shares traded worth 569 million Dirhams.
Oasis International Leasing Company PJSC (OILC) 1.55 dominated trading with 74 million shares changing hands and the stock ending up 1.97%.

Other shares to rise included Aabar Petroleum Investments Company PJSC (AABAR) 3.78 (6.09%), Sorouh Real Estate (SOROUH) 4.56 (1.55%), ARKAN 1.73 (1.16%), Aldar Properties PJSC (ALDAR) 8.00 (1.15%).

Shares that declined on the day included Commercial Bank International (CBI) 2.22 (2.21%), Abu Dhabi Commercial Bank (ADCB) 7.39 (2.61%) and Union National Bank (UNB) 8.10 (.98%).

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UAE markets 12 Jul 2007

UAE market news & discussions for 12 July 2007 Both UAE markets fell slightly with volumes on DFM very light and few stocks increasing in value today. Emirates Bank and National Bank of Dubai announced the terms of their merger today, shares in both companies will start trading again on Sunday. The CEO of National Bank of Abu Dhabi said a merger would be good for them. The CEO of Commercial Bank International resigned. Al Hilal Islamic Bank, or Crescent Bank, were reported to be considering an IPO after establishment. ADSM said that foreign investment in shares tripled for the first half of 2007, compared to 2006 H1. Dubai Islamic Bank said they would put off consideration of a Sukuk issue until September. Etisalat announced solid profit growth yesterday to AED 3.7 billion for 2007 H1, and a 25 fil per share mid-year cash dividend. Fujairah Cement Industries announced 2007 half year profit growth of 14% to AED 89m.

• 12 July 2007 UAE financial and stockmarket news
• 2007 Q2 results for DFM and ADSM companies
• ADSM review of first half of 2007 - 12 July 2007
• Al Hilal Islamic Bank IPO
• CBD 2007 profits Q2 213m dhs +148%, H1 431m dhs +52% from 2006
• CBI Board meeting 11 Jul 2007 - CEO resignation
• DIB considering Convertible Sukuk
• DRC EGM - 100:1 share split and 25% share bonus - 01 Jul 07
• EBI NBD merger terms announced - Emirates NBD PJSC 12 July 2007
• ETISALAT 2007 profit Q2 AED 1.9bn +29%, H1 AED 3.7bn +33%
• ETISALAT 2007 H1 dividend - 25% cash
• FCI 2007 profit Q2 AED 48m +15%, H1 AED 89m +14% from 2006
• FGB suspends EMTN issues - 11 July 2007
• GFH board meeting 22 Jul 2007
• NBAD CEO says a merger is good for growth - BB 12 Jul 07
• NBF 2007 H1 profit +45% to AED 153m
• TAQA rating upgraded to AA2 by Moody's - 11 July 2007

More UAE stock market news and discussions...

best stock rises symbol price change UNION 2.44 +0.12 +5.2% ARIG 3.18 +0.13 +4.3% GFH 8.75 +0.35 +4.2% TKFL 5.87 +0.18 +3.2% UCC 5.05 +0.15 +3.1%

worst stock falls symbol price change OIC 7.73 -0.40 -4.9% AAAIC 120.00 -5.00 -4% SCIDC 4.20 -0.17 -3.9% OEIHC 18.10 -0.70 -3.7% FOODCO 4.50 -0.17 -3.6%

top volume symbol value (AED) price SOROUH 162,207,853 4.52 ALDAR 105,187,896 7.84 EMAAR 70,463,275 12.00 OILC 65,049,093 1.52 DIB 51,295,514 10.30

Dubai Financial Market

The DFMGI fell by just 0.18% to 4507 points with a very thin traded volume of 318m dhs. Only 5 stocks rose in price with GULFNAV the only one out of the actively traded stocks, and just a 0.7% rise. Arab Insurance Group (ARIG) had a promising day with a 4.3% increase to 3.18 from more than its normally thin trading.

Emaar Properties PJSC (EMAAR) and Dubai Islamic Bank (DIB) were at the top of the traded value list but with no change in share price. The other actively traded stocks all fell by less than 1%, except for Islamic Arab Insurance Company PSC (IAIC) which closed flat.

Abu Dhabi Securities Market

The ADSM was yet again the more active bourse in the UAE with a moderate 526m dhs worth of trading and a slight fall of 0.16% to 3684 points.

Only 6 companies saw an increase in their share price, most of them on very few trades. Emirates Telecommunications Company (ETISALAT) was up by 1.9% to 18.90 on moderate trading activity. The other ADSM listed telecom, Qatar Telecom (QTEL), rose by 1.3% but from just two small trades. Union National Bank (UNB) was up just 0.4% and First Gulf Bank (FGB) was unchanged.

Sorouh Real Estate (SOROUH) and Aldar Properties PJSC (ALDAR) topped the traded value list with falls of 2.6% and 2.0% respectively. Other falls of note for Oasis International Leasing Company PJSC (OILC) down 1.9%, ARKAN down 2.8%, Dana Gas PJSC (DANA) and Ras Al Khaimah Properties PJSC (RAKPROP) down 1.7%, National Bank of Abu Dhabi (NBAD) and Abu Dhabi National Energy Company (TAQA) down 1.4%, Ras Al Khaimah Cement Company (RAKCC) down 1.2%, and the remaining more active stocks losing less than 1%.

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UAE markets 11 Jul 2007

UAE market news & discussions for 11 July 2007 Both DFM and ADSM fell, despite strong performances in Al Dar Properties, with a report from Shuaa Capital yesterday rating their shares as almost 50% undervalued, and Sorouh Real Estate. Total traded value on ADSM was once again higher than on DFM. Union Properties release financial results showing a 26% increase in profit for both 2007 H1 and Q2 but earnings per share (EPS) showing very little change. Finance House released financial results with profits looking encouraging or depressing depending on which period in 2006 they're compared to. Daman Investments, a fund manager, said they were upbeat about UAE stockmarkets and that foreign investment was increasing. Abu Dhabi National Energy Company (TAQA) signed up for a 3.7 billion dh overdraft with NBAD, and announced a ratings upgrade to AA2 from Moody's. Dubai Islamic Bank board meet today to consider issuing a convertible sukuk.

• UPP 2007 profit H1 AED 295m +26%, Q2 AED 154m +26% from 2006
• FH 2007 profit H1 AED 80m -61%, Q2 AED 39m +1000% from 2006
• Dubai International Capital restructuring will have assets of Dh 92 bn
• DFM - foreign investment AED 2.5 bn 2007 Q1 says DAMAN - 10 Jul 07
• WARE Agility 2006 FY results late, trading suspended - 15 Mar 07
• SHUAA EGM agenda 05 Aug 07 - foreign ownership and AED 1.5 bn bonds
• TAQA rating upgraded to AA2 by Moody's - 11 July 2007
• TAQA arranges AED 3.7 bn credit with NBAD - 11 July 2007
• CBI Board meeting 11 Jul 2007
• 11 July 2007 UAE financial and stock news continued
• ALDAR shares worth 13.68 - Shuaa report [BUY] - 10 Jul 07
• DIB considering Convertible Sukuk - BOD meeting 11 Jul 07
• DIB 2007 Q2 profit forecasts AED 407m to 473m
• AIRARABIA floats 17 July 2007 - what price?
• ALDAR signs up Aconex for online collaboration tools - PR 10 Jul 07
• EMAAR may sell bonds after receiving Moody's and S&P ratings 11 Jul 07
• AIRARABIA balance sheet from 19 June 2007
• EMAAR (doesn't) clarify Dubai Holding deal? 16 May 2007
• UPP CEO says Dubai property not a bubble - GN 10 Jul 2007
• DU to improve coverage with more base stations - ET 10 Jul 07
• EBI and NBD Boards approve merger terms, trading suspended - 02 Jul 07
• Kuwait MPs want oil reserves disclosed - 48 or 99 bn barrels? R 10 Jul 07
• EMAAR receives A- rating from S&P - PR 10 Jul 07
• EIB Emirates Islamic Bank extends opening hours to 8 pm - PR 10 Jul 07
• NBF 2007 H1 profit +45% to AED 153m

More UAE stock market news and discussions...

best stock rises symbol price change NCTH 4.97 +0.41 +9% NMDC 5.03 +0.23 +4.8% BAYAN 3.80 +0.15 +4.1% SOROUH 4.64 +0.18 +4% NCC 12.00 +0.45 +3.9%

worst stock falls symbol price change UNION 2.32 -0.16 -6.5% RAKCEC 5.03 -0.27 -5.1% OIC 8.13 -0.42 -4.9% UCC 4.90 -0.20 -3.9% SICO 4.60 -0.15 -3.2%

top volume symbol value (AED) price SOROUH 372,747,945 4.64 ALDAR 211,237,066 8.00 EMAAR 143,058,992 12.00 ARKAN 142,690,331 1.77 DIC 129,288,893 4.79

Dubai Financial Market

The DFMGI had a sharp rise on opening to almost 4570 points this morning but fell steadily during the session to close at 4515, down by 0.76% with total traded value of 823m dhs.

A short list of winners today with only Arabtec Holding PJSC (ARTC) up 1.7%, National General Cooling Company PJSC (TABREED) up 1.1%, and Shuaa Capital PJSC (SHUAA) up 0.8% from the actively traded list showing a gain. Although Shuaa traded value was minimal, and lower than one of the less liquid stocks - GGICO up 0.9%.

Out of the active stocks, GULFNAV topped the losers list with a 2.2% fall to 1.35. Dubai Islamic Bank (DIB) lost 1.4%, Dubai Investments PJSC (DIC), DFM, Islamic Arab Insurance Company PSC (IAIC), Union Properties PJSC (UPP) and Emaar Properties PJSC (EMAAR) all dropped by about 1.2% each, the market seemingly unimpressed with Union Properties earnings growth.

Abu Dhabi Securities Market

The ADSM fell by 0.4% to 3690, with total traded value a hefty AED 1.1 billion.

Solid trading and increase for Sorouh Real Estate (SOROUH) up 4% to 4.59 and 373m dhs of trading, and Aldar Properties PJSC (ALDAR) up 2.6% to 7.84 from 211m dhs of trading. Other significant rises for the rarely traded National Marine Dredging Company (NMDC) up 4.8% and Invest Bank (INVESTB) up 1.5%, while there were rises of about 1% or less for the more active ARKAN, Oasis International Leasing Company PJSC (OILC), Aabar Petroleum Investments Company PJSC (AABAR), and First Gulf Bank (FGB).

Despite the impressive gains in the Abu DHabi property developers, the index was dragged down by falls of 1.2% for National Bank of Abu Dhabi (NBAD) and 1.9% for Emirates Telecommunications Company (ETISALAT) with Etisalat relatively actively traded. AGTHIA lost 1.4% and the other more active stocks fell by about 0.5% or less.

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UAE markets 10 Jul 2007

UAE market news & discussions for 10 July 2007 Both UAE stockmarkets had a good day with ADSM volumes significantly higher than on DFM due to solid trading in property developers. National Bank of Fujairah released 2007 Q2 results showing a 45% increase in profit. Several banks received upgraded ratings from Fitch and Capital Intelligence while Moody's upgraded UAE bond ratings and expressed concern about Emaar's dependence on the Dubai property market. Damas said they were considering an IPO.

• 10 July 2007 UAE financial and stockmarket news
• Fitch upgrades for ADIB EBI FGB MASQ NBAD UNB - PR 10 Jul 07
• AIRARABIA floats 17 July 2007 - what price?
• ALDAR awards F1 construction to Bahrains's Cebarco-WCT 10 Jul 07
• ARMX foreign ownership at max limit
• ARTC signs AED 13.5m contract with Stone Master LLC - PR 09 Jul 07
• CBD launches Visa Infinite credit card for HNW customers PR 09 Jul 07
• Damas IPO
• Damas Group borrows AED 936m for expansion plans PR 09 Jul 07
• DIB 2007 Q2 profit forecasts AED 407m to 473m
• EMAAR rating of A3 from Moody's, property concerns voiced PR 10 Jul 07
• FH Finance House 'Flexi Deposit' business account PR 10 Jul 07
• NBAD - Capital Intelligence upgrades rating to AA- PR 10 Jul 07
• NBF 2007 H1 profit +45% to AED 153m
• NBS Sharjah Islamic Bank Platinum Visa launched PR 10 Jul 07
• NBS Sharjah Islamic Bank upgrade to BBB+ from CI - PR 12 Jun 07
• RAKPROP - emirate of Ras Al Khaimah becoming popular - 10 Jul 2007
• Solidere International Ltd in DIFC - R 09 Jul 07
• TABREED wins two international gold awards from IDEA - PR 10 Jul 07
• TAMWEEL & Al Oula Real Estate JV for Saudi finance company 09 Jul 07
• UAE rating raised by Moody's to AA2 - 09 July 07

More UAE stock market news and discussions...

best stock rises symbol price change UNION 2.48 +0.21 +9.3% RAKBANK 6.75 +0.45 +7.1% FOODCO 4.72 +0.28 +6.3% DRIVE 3.32 +0.16 +5.1% OEIHC 18.95 +0.90 +5%

worst stock falls symbol price change BAYAN 3.65 -0.35 -8.8% AWNIC 4.21 -0.09 -2.1% SCIDC 4.26 -0.09 -2.1% QTEL 246.00 -4.00 -1.6% OILC 1.54 -0.02 -1.3%

top volume symbol value (AED) price SOROUH 279,673,049 4.46 EMAAR 275,444,840 12.15 ALDAR 201,054,096 7.80 DFM 138,799,662 3.34 DANA 138,239,128 1.74

Dubai Financial Market

DFM saw moderate trading of 725m dhs and a healthy 0.7% rise to 4549 points with a sharp increase in the index near the end of the trading session.

Emaar Properties PJSC (EMAAR) topped the traded value list with 275m dhs worth of deals and a 1.25% increase to 12.15. Almost all traded shares showed an increase, AMAN up by 3.6% to 27.20 at the top of the list. Other increase of note for National General Cooling Company PJSC (TABREED) up 1.8%, Aramex PJSC (ARMX) up 1.5%, DFM up 1.2%, Amlak Finance Company (AMLAK) up 1.1%, Dubai Investments PJSC (DIC) up 1% and the remaining actively traded stocks up by less than 1%.

Only two stocks fell, BAYAN down by 8.75% to 3.65 from one small trade and GGICO down 1.2% on light trading.

Abu Dhabi Securities Market

The ADSM index was up by 0.58% to 3705 from a solid 1.13 billion dhs of trading.

Sorouh Real Estate (SOROUH), up by 3.7% to 4.45, and Aldar Properties PJSC (ALDAR), up by 2.5% to 7.72 dominated trading with AED 280m and AED 201m worth of deals respectively. Dana Gas PJSC (DANA), up by 2.35% to 1.74, and Ras Al Khaimah Properties PJSC (RAKPROP), up by 2.9% to 1.73 were also heavily traded.

UNION closed almost limit up with a 9.25% increase to 2.49 from greater than usual trading. DRIVE continued to drive ahead with a 7.3% increase to 3.39. Aabar Petroleum Investments Company PJSC (AABAR) with a 4.2% increase to 3.43 was the most impressive gain out of the more actively traded shares on ADSM. Abu Dhabi National Energy Company (TAQA) was up by 1.4% and the remaining stocks with significant activity today rose by less than 1%. Emirates Telecommunications Company (ETISALAT), First Gulf Bank (FGB), and National Bank of Abu Dhabi (NBAD) share prices closed unchanged from yesterday.

Qatar Telecom (QTEL) fell 1.6% from just one trade. Oasis International Leasing Company PJSC (OILC) dropped by 1.3% to 1.52 on relatively lower volumes. Gulf Cement Company (GCEM), Ras Al Khaimah Cement Company (RAKCC), Abu Dhabi Commercial Bank (ADCB), and AGTHIA all fell by less than 1%.

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UAE markets 09 Jul 2007

UAE market news & discussions for 09 July 2007 A split day today on UAE markets with the DFM index down on light volume and the ADSM index more than one per cent up on strong volumes. GULFNAV and DFM dominated trading on the DFM both finishing down but together representing over 60% of all shares traded. OILC dominated trading on the ADSM finishing up 2.63% with 156 million shares traded. The property sector was also strong with all stocks making gains on heavy volume. ADCB was down slightly after announcing no plans to merge.

• DRC EGM - 100:1 share split and 25% share bonus - 01 Jul 07
• AIRARABIA balance sheet from 19 June 2007
• 09 July 2007 UAE financial and stockmarket news
• MAZAYA subsidiary AED 200m loan from EBI for Sky Gardens - PR 06 Jul 07
• AMLAK deal to provide finance for for Sungwon properties PR 08 Jul 07
• ADCB loan of AED 660m for Etihad plane purchase - 08 Jul 2007
• Bank mergers in the UAE 2007
• ADCB has no bank merger plans says CEO - GN 09 Jul 2007
• 2007 Q2 results for DFM and ADSM companies
• TAMWEEL Q2 profit forecast +28% to AED 50m
• NBD 2007 Q2 profit estimates +74% to AED 431m or +18%
• MASQ 2007 Q2 profit growth expected to be 30%
• EBI 2007 Q2 profit forecasts 434m to 534m dhs
• CBD 2007 Q2 EFG profit forecast +120% to AED 189m
• DIB 2007 Q2 profit forecasts AED 407m to 473m
• DU 2007 Q2 results - released by end July 2007
• DU says no expansion plans outside the UAE - ET 09 Jul 07
• 08 July 2007 UAE business and stock news
• DFM - foreigners buy AED 895m shares in 1st week of July - PR 07 Jul 07
• MAZAYA to have 40% share in Oman Construction portfolio - PR 08 Jul 07
• DIC > M'Sharie > Syscom Emirates alliance with Kathrein FZCO - 02 Jul 07
• DIC - M'Sharie buys 51% of White Aluminium Extrusion LLC
• NBAD to provide 90% finance on Westar Properties - PR 08 Jul 2007
• NBD Investment Bank to arrange AED 367 loan for GEMS - PR 08 Jul 07
• ETISALAT 2007 H1 dividend - BOD meeting 11 July 2007

More UAE stock market news and discussions...

best stock rises symbol price change UAB 6.92 +0.61 +9.7% UNION 2.27 +0.19 +9.1% QCEM 2.33 +0.13 +5.9% ALDAR 7.61 +0.33 +4.5% DNIR 3.55 +0.15 +4.4%

worst stock falls symbol price change NCTH 4.56 -0.44 -8.8% FCI 4.54 -0.34 -7% FOODCO 4.44 -0.28 -5.9% GFH 8.40 -0.40 -4.5% INVESTB 2.68 -0.10 -3.6%

top volume symbol value (AED) price OILC 244,436,872 1.56 ALDAR 243,378,678 7.61 SOROUH 225,924,869 4.30 GULFNAV 152,499,673 1.37 EMAAR 152,228,694 12.00

Dubai Financial Market

The DFM index finished the days trading at 4,517 a slight fall of .37% from yesterdays close. 212 million shares changed hands worth 739 million dirhams. Four shares advanced and thirteen declined.
GULFNAV 1.37 dominated trading again representing over 50% of all shares traded on the market and finishing .72% down.

Other shares to finish lower included DFM 3.30 (.30%), ARAMEX 2.70 (1.81%), Amlak Finance Company (AMLAK) 3.63 (1.08%) and Emaar Properties PJSC (EMAAR) 12.00 (.41%).

Shares that finished higher included Dubai Investments PJSC (DIC) 4.80 (.20%) and the following insurance stocks Arab Insurance Group (ARIG), AMAN and Dubai National Insurance & Reinsurance Co. (DNIR) on light volume.

Abu Dhabi Securities Market

The ADSM index finished a strong days trading at 3,634 a gain of 1.03% from yesterdays close. 439 million shares traded worth 1.2 billion dirhams. Twenty seven stocks advanced and fifteen declined.
Oasis International Leasing Company PJSC (OILC) (1.56) easily dominated with 156 million shares traded and the stock finishing up 2.63%.

Other stocks to finish higher included Aldar Properties PJSC (ALDAR) 7.61 (4.52%), ARKAN 1.74 (.58%), Dana Gas PJSC (DANA) 1.70 (.59%), Sorouh Real Estate (SOROUH) 4.30 (4.37%), Ras Al Khaimah Properties PJSC (RAKPROP) 1.71 (2.40%) and ABAR 3.31 (2.80%).

Stocks that declined on the day included Abu Dhabi Commercial Bank (ADCB) 7.75 (.64%), Finance House PJSC (FH) 8.01 (.50%), Gulf Cement Company (GCEM) 6.42 (.62%), FCI 4.54 (6.97%), however, all were on light volumes.

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UAE markets 08 Jul 2007

UAE market news & discussions for 08 July 2007 A solid days trading on Both ADSM and DFM today. Both indicies finished the day higher on above summer average volumes. Trading was dominated on the DFM by GUFNAV ending the day 2.98% higher at 1.38. On the ADSM, OILC jumped 2.01% to 1.52 dhs on heavy volume of 197 million shares. ARKAN also rose 2.37% to 1.73 dhs with 75 million shares traded.

• WARE / Agility wins AED 217m US Air Force deal in Spain - R 07 Jul 07
• TAQA energy debt rating raised to A+ by Standard & Poor's - PR 04 Jul 07
• RAK Petroleum has AED 1.5 bn to spend after Gulf Keystone deal fails
• 08 July 2007 UAE business and stock news
• 2007 Q2 results for DFM and ADSM companies
• BAYAN to buy AED 1 bn of land on Al Reem Island
• ADIB new chairman Mar 2007 is HE Majid Salem Khalifa Al Rumaithi
• ALMADINA - Ekttatab raising AED 543m for IPO purchases - R 11 Jun 07
• ALMADINA - Al Madina for Finance and Investment Company (Kuwait)
• Al Madina Fund
• 07 July 2007 UAE business and stock news
• Kuwait proposes weak stock market regulation - R 02 July 2007
• UAE daily market report from HC Securities - 01 July 2007
• 06 July 2007 UAE financial and stockmarket news
• AIRARABIA - EFG report says 27% annual increase in revenues
• OILC 2007 Q2 profit jump [rumour]
• AIRARABIA floats 17 July 2007 - what price?
• NBF 2007 Q2 earnings - BOD meeting 09 July 2007
• EMAAR and ETISALAT in FT Global top 500 companies for 2007
• 05 July 2007 UAE business and stock news
• Dubai Holding's DIC buys a 3% stake in EADS - 05 Jul 2007
• Jazeera Airways plans Kuwait listing in Sep 2007
• QTEL Qatar Telecom to acquire stake in 3 Kuwait companies? No
• NIND National Industries to raise AED 5.5 bn in Sukuk - 04 July 2007
• GLOBAL to bid for 51% of Al Jazeera Steel Products Company? ... No

More UAE stock market news and discussions...

best stock rises symbol price change WARE 24.75 +2.75 +12.5% RAKCEC 5.47 +0.47 +9.4% FCI 4.88 +0.28 +6.1% UNION 2.10 +0.11 +5.5% GFH 8.80 +0.40 +4.8%

worst stock falls symbol price change MASQ 184.80 -9.70 -5% GLOBAL 10.95 -0.45 -3.9% TKFL 5.71 -0.22 -3.7% NMDC 4.85 -0.14 -2.8% FH 8.05 -0.21 -2.5%

top volume symbol value (AED) price OILC 300,364,870 1.52 DIB 254,620,484 10.50 GULFNAV 222,459,567 1.38 WARE 203,168,369 24.75 DFM 154,488,290 3.31

Dubai Financial Market

The DFM index finished the day at 4,534 an increase of 1.11% from Thursdays close. 299 million shares were traded worth 1.1 billion dirhams. Eighteen shares advanced and three declined.
GULFNAV 1.38 dominated trading with 162 million shares changing hands and the stock ending the day 2.98% up.

Other shares to rise on the day included WARE 24.75 (12.50%), Tamweel PJSC (TAMWEEL) 4.56 (2.47%), Dubai Islamic Bank (DIB) 10.50 (3.96%) and DFM 3.31 (1.84%).

Shares that declined on the day on small volume included Arab Insurance Group (ARIG) 3.03 (.65%) and Arabtec Holding PJSC (ARTC) 6.00 (.16%).

Abu Dhabi Securities Market

The ADSM index finished the day at 3,646 an increase of .81% from Thursdays close. 339 million shares were traded worth 669 million dirhams. Twenty six shares advanced and fourteen declined.
Oasis International Leasing Company PJSC (OILC) 1.52 dominated trading easily with 197 million shares changing hands and the stock ending the day 2.01% up.

Other shares to rise on the day included ARKAN 1.73 (2.37%) and 75 million shares traded, Abu Dhabi National Energy Company (TAQA) 2.85 (1.79%), Ras Al Khaimah Properties PJSC (RAKPROP) 1.67 (1.83%) and Dana Gas PJSC (DANA) 1.69 (1.20%).

Shares that declined on small volumes included Abu Dhabi Ship Building (ADSB) 2.86 (2.05%), Bank Of Sharjah (BOS) 2.58 (2.27%), Finance House PJSC (FH) 8.05 (2.54%).

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UAE markets 05 Jul 2007

UAE market news & discussions for 05 July 2007 A relatively quiet day on both ADSM and DFM with both indices down again. ADSM trading was dominated by Oasis Leasing (rising slightly), and DFM by trading in Amlak Finance after releasing encouraging preliminary results yesterday, although how much profit came from the sale of their stake in Emaar Industries and Investments was not disclosed. Dubai Holding's DIC bought a 3% stake in EADS - the parent of Airbus - for an undisclosed amount but current market value is about AED 3 billion. There were several conflicting press reports and denials including Qatar Telecom saying they were not buying stakes in three Kuwaiti companies, Global Investment House saying they were not buying half of Al Jazeera Steel in Oman, and Amlak were reported to have sold their stake in Zabeel Investments - it was, in fact, Zabeel which bought Amlak's EII stake. The Air Arabia IPO will float on 17 July 2007, with Air Arabia sounding concerned about potential share price on flotation.

• 05 July 2007 UAE business and stock news
• Air Arabia IPO
• ALDAR awards AED 380m Injazat contract to Ed Zublin AG PR 04 Jul 07
• AMLAK 2007 Q2 profit +86.4% to AED 82m, H1 profit +31% to AED 106m
• BOS Bank of Sharjah gets banking licence in Lebanon PR 04 Jul 07
• DFSA investigates $5 bn fraud attempt at Lloyd's Bank - 03 Jul 07
• Dubai Holding's DIC buys a 3% stake in EADS - 05 Jul 2007
• EBI and NBD Boards approve merger terms, trading suspended - 02 Jul 07
• EMAAR and ETISALAT in FT Global top 500 companies for 2007
• GLOBAL to bid for 51% of Al Jazeera Steel Products Company? ... No
• Jazeera Airways plans Kuwait listing in Sep 2007
• Kingdom Holding prepares IPO - BB 04 July 2007
• NIND National Industries to raise AED 5.5 bn in Sukuk - 04 July 2007
• QTEL Qatar Telecom to acquire stake in 3 Kuwait companies? No
• RAK Airways to buy two 737-800s and lease two - BB 03 Jul 07
• TAIB subsidiary buys stake in Dubai-based Redha Al-Ansari - 05 Jul 2007
• 04 July 2007 UAE financial and stockmarket news

More UAE stock market news and discussions...

best stock rises symbol price change OEIHC 17.95 +1.40 +8.5% TKFL 5.93 +0.41 +7.4% ABNIC 7.99 +0.49 +6.5% NCC 11.25 +0.50 +4.7% FH 8.26 +0.35 +4.4%

worst stock falls symbol price change WARE 22.00 -3.75 -14.6% AWNIC 4.30 -0.20 -4.4% AMAN 26.00 -0.75 -2.8% SHUAA 5.06 -0.13 -2.5% NBAD 20.40 -0.50 -2.4%

top volume symbol value (AED) price OILC 252,526,986 1.49 AMLAK 142,274,110 3.64 GULFNAV 94,179,305 1.34 DIB 63,422,525 10.10 DFM 54,522,569 3.25

Dubai Financial Market

The DFMGI barely moved with a fall of just 0.05% to 4485 points on relatively low traded value of 504m dhs for the day.

Amlak Finance Company (AMLAK) was the most heavily traded stock with 142m dhs worth of deals but share price unchanged in the end at 3.64. Islamic Arab Insurance Company PSC (IAIC) and Union Properties PJSC (UPP) also had a flat day.

A very short list of gainers with NCC up 4.7% to 11.25 from a single trade, Dubai Islamic Bank (DIB) up 1.1% to 10.10 and DFM up 0.3% to 3.25. Shuaa Capital PJSC (SHUAA) was down by 2.5% to 5.06 which was smaller than the expected 4% drop to compensate for their shares going ex-dividend today.

The losers list was topped by WARE falling almost 15% from a single trade of just 100 shares. Other falls on (relatively) active trading for AMAN down 2.8%, GGICO down 1.8%, Arabtec Holding PJSC (ARTC) down 1.3% and the remainder falling by less than 1%. Emaar Properties PJSC (EMAAR) had a very quiet day, down by 0.4% from just 50m dhs worth of trades.

Abu Dhabi Securities Market

The ADSM general index had a small drop of 0.43% to 3617 points from moderate traded value of 393m dhs with well over half of that in Oasis International Leasing Company PJSC (OILC) shares - 253m dhs worth and a 1.4% rise to 1.48. No other shares came even close by volume, with Aldar Properties PJSC (ALDAR) next in the list and only trading 31m dhs worth to fall by 1% to 7.14.

Rises on active trading for Finance House PJSC (FH) up 4.4% to 7.94, NBQ up 1.1%, Ras Al Khaimah Cement Company (RAKCC) up 0.4% and Emirates Telecommunications Company (ETISALAT) up just 0.27%, but none of them trading more than 10m dhs worth for the day.

A longer list of falling stocks included National Bank of Abu Dhabi (NBAD) down 2.4% but from only 4 small trades, Gulf Cement Company (GCEM) down 2.1%, NBS down 1.4%, Abu Dhabi Commercial Bank (ADCB) down 1.2%, and most of the usually active stocks dropping by 1% or less.

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UAE markets 04 Jul 2007

UAE market news & discussions for 04 July 2007 After the bullish sentiment yesterday, both the DFM and ADSM dropped slightly today on moderate trading volumes. Heavy trading for Gulf Navigation (falling) and Oasis Leasing (rising). Shuaa Capital shares go ex-dividend tomorrow, Emaar MGF won the Commonwealth Games village contract in India, National Bank of Dubai said they would provide mortgages for customers in the UK in a tie up with a UK mortgage provider. The Dana Gas Convertible Sukuk proposal was approved in yesterday's EGM, and there was one small news item suggesting Aabar Petroleum was considering selling its Dalma Energy subsidiary.

• 04 July 2007 UAE financial and stockmarket news
• AABAR to sell Dalma subsidiary? - 04 Jul 07
• Air Arabia IPO
• IPO returns falling but best on first trading day - TNI report 04 Jul 07
• ADCB considering merger possibilities - BB 03 July 2007
• BAYAN to buy AED 1 bn of land on Al Reem Island
• DANA Gas EGM approves convertible Sukuk - 03 Jul 07
• DFM actively traded stocks for 2007 H1
• EMAAR and EBI tie-up for online bill payment service PR 04 July 2007
• EMAAR - Burj Views construction on target for 2008 completion
• EMAAR-MGF may win DDA Games Village contract in India
• NBD tie up with John Charcol to provide mortgages for UK customers
• OILC - Oasis Leasing at industry events in New York and China
• TAQA to continue seeking African opportunities - 04 Jul 07
• SHUAA 2006 FY profit AED 262m
• SOROUH shortlists six companies for Saraya infrastructure - 02 Jul 07
• 03 July 2007 UAE business and stock news

More UAE stock market news and discussions...

best stock rises symbol price change GLOBAL 11.30 +0.60 +5.6% TKFL 5.52 +0.25 +4.7% EIC 11.10 +0.45 +4.2% GCEM 6.58 +0.26 +4.1% AWNIC 4.50 +0.15 +3.4%

worst stock falls symbol price change RAKBANK 6.30 -0.60 -8.7% ADNH 5.43 -0.15 -2.7% IFA 10.00 -0.25 -2.4% FH 7.91 -0.19 -2.3% GULFNAV 1.36 -0.03 -2.2%

top volume symbol value (AED) price GULFNAV 174,038,713 1.36 OILC 172,518,187 1.47 DIB 92,439,757 10.00 EMAAR 77,341,616 12.00 UPP 67,298,413 3.42

Dubai Financial Market

The DFMGI fell by 0.43% to 4487 on moderate trading of AED 661m. Only three stocks rose - Global Investment House (GLOBAL) by 5.6% to 11.40 on few trades, Shuaa Capital PJSC (SHUAA) by just 2 fils (0.4%), and Dubai Islamic Bank (DIB) by a single fil (0.1%).

GULFNAV was the loser of the day, down by 2.2% to 1.35 on heavy trading. The remaining actively traded stocks fell by less than 1.5%. Emaar Properties PJSC (EMAAR) dropped 0.8% to 12.00 dhs on relatively light trading of only 77m dhs.

Abu Dhabi Securities Market

The ADSM index lost just 0.28% to end at 3633 from average total traded value of 436m dhs.

TKFL had a decent gain of 4.7% to 5.79 from higher than usual trading activity. Gulf Cement Company (GCEM) also up there with a 4.1% increase to 6.51 and solid trading. Oasis International Leasing Company PJSC (OILC) up 2.8% to 1.47, the most actively traded share on ADSM today. Other busy stocks today had rises of less than 1.5%, including First Gulf Bank (FGB), Ras Al Khaimah Cement Company (RAKCC), Ras Al Khaimah White Cement Company (RAKWCT), Abu Dhabi National Company for Building Materials (BILDCO), Abu Dhabi Islamic Bank (ADIB), Union National Bank (UNB) and Abu Dhabi Commercial Bank (ADCB). Emirates Telecommunications Company (ETISALAT) closed flat on thin trading and the big rise for FBICO was from just a handful of trades.

Stocks showing a loss on active trading included Bank Of Sharjah (BOS) down 1.9%, Dana Gas PJSC (DANA) down 1.8%, AGTHIA down 1.4%, and the remainder falling by less than 1%. Big fall for National Bank Of Ras Al Khaimah (RAKBANK) from just one trade.

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