Zawya.com - Abu Dhabi SE News

Holidays weigh on Gulf stocks

Sat, 21 Nov 2009 07:13:14 GMT

Most Gulf stock markets extended losses this week ahead of Eid Al-Adha holidays due to start on Nov. 26, financial analysts said Friday.

Equities End Week in Negative Territory

Fri, 20 Nov 2009 08:33:19 GMT

UAE shares capped the week in negative territory on broad-based profit-taking, as edgy investors cashed out ahead of the forthcoming Eid Al Adha holidays.

ADX still in downtrend on low buying interest

Thu, 19 Nov 2009 07:49:21 GMT

The Abu Dhabi Securities Exchange (ADX) retreated for a third consecutive session yesterday amid weak sentiment and a lack of buying interest.

Prices of 15 stocks more than double over 2009 lows despite correction

Thu, 19 Nov 2009 06:13:29 GMT

Share prices of 15 firms listed on the UAE stock markets have gone up more than 100 per cent since hitting multi-year lows in February this year, Emirates Business research shows.

UAE stock markets see slide, led by property and construction stocks

Wed, 18 Nov 2009 08:43:42 GMT

After a day of gains on Monday the Dubai Financial Market retreated 0.91 per cent to 2,178.53 on Tuesday as property, construction and financial stocks weighed.

Aabar Shifts To New York For Its Latest Acquisition

Wed, 18 Nov 2009 05:59:20 GMT

Aabar Investment, a company controlled by the Abu Dhabi Government, is helping fund the development of a 73-storey luxury apartment building and hotel in New York City.

Etihad Airways, IAE In $200M Engine Overhaul Contract

Tue, 17 Nov 2009 11:48:38 GMT

Etihad Airways, the national airline of the United Arab Emirates, has signed a deal which could be worth up to US $200m with International Aero Engines (IAE) to provide a comprehensive engine overhaul and repair service for 14 Airbus aircraft in its narrow-body fleet.

UAE banks projected to post better Q4 results

Tue, 17 Nov 2009 06:59:29 GMT

UAE banks are expected to perform better in the fourth quarter of 2009 after a six per cent drop in net earnings in the third quarter, analysts said yesterday.

Aabar Investments to Take Stake in Brawn GP

Tue, 17 Nov 2009 06:47:57 GMT

Abu Dhabi-based investment fund, Aabar Investments PJSC, or Aabar, and Daimler AG, are set to acquire a majority shareholding in Brawn GP, the winner of the 2009 Formula 1 constructors' and drivers' championships.

ADX sees drop in turnover due to shortage of liquidity

Tue, 17 Nov 2009 06:46:33 GMT

The Abu Dhabi Securities Exchanged continued to see turnover decline yesterday as the market remained in a narrow gap and experienced a sharp shortage of liquidity.

99% Of UAE Listed Firms Disclose Results

Tue, 17 Nov 2009 05:12:45 GMT

The UAE Securities and Commodities Authority (SCA) announced the percentage of financial disclosures by local listed firms for Q3 2009 was 99 per cent, after Tamweel and Amlak Finance were excluded due to their merger.

Markaz: Abu Dhabi-Residential (Nov-09)

Mon, 16 Nov 2009 14:39:00 GMT

This is a PDF report.

Turnover on ADX touches lowest level in four months

Mon, 16 Nov 2009 07:23:52 GMT

The Abu Dhabi Securities Exchange followed the same trading pattern as the Dubai Financial Market yesterday and closed almost flat at 2,972.71 points, adding just 5.05 points, or 0.17 per cent.

UAE SCA reviews developments in local and global financial markets

Sun, 15 Nov 2009 12:42:57 GMT

The advisory board of the Emirates Securities and Commodities Authority (SCA) took today stock of the latest developments in the international best practices related to financial markets and impact of the international financial crisis on global stock markets.

Markets to follow global cues as results season ends

Sun, 15 Nov 2009 06:31:33 GMT

With third-quarter results season coming to an end, global cues may influence the trading pattern on the UAE markets.

GCC bourses see overvaluation of shares

Sun, 15 Nov 2009 06:28:03 GMT

After reeling under pressure during fourth quarter of 2008 and first quarter of 2009, the GCC markets picked up in the third quarter and continuing the upward march. Despite rise in indices, the DFM, Kuwait and Bahrain bourses recorded drop in their market capitalisation.

Air Arabia reports nine-month net profit of AED337M , up six per cent

Sat, 14 Nov 2009 09:13:03 GMT

Air Arabia (PJSC)announced its positive financial results for the nine months ending September 30, 2009, demonstrating the long-term sustainability of its business model and appeal of its low-cost services at a time when the global aviation sector is witnessing unprecedented financial challenges.

Kuwait: Performance of GCC markets 'end in red'

Sat, 14 Nov 2009 09:11:38 GMT

The performance of- GCC markets were depressed during Oct-09 as all GCC markets ended the month in red. Among its peers Kuwait witnessed hardest hit as it declined by 7.2 percent during the month.

Arab bourses volatile pending fresh moving factors

Sat, 14 Nov 2009 07:24:36 GMT

Middle East stock markets reflected mixed performances last week with speculation dominating the scene and investors looking for new clues that help to clarify the foggy picture of the global recovery, financial analysts said Friday.

Prime: Traders Corner - UAE (12-Nov-09)

Thu, 12 Nov 2009 15:10:00 GMT

This is a PDF report.

Dana Gas achieves revenue of AED 359M in the third quarter

Thu, 12 Nov 2009 12:17:33 GMT

Dana Gas PJSC, the Middle East's largest regional private sector natural gas company, has announced its financial results for the quarter ending 30th September 2009.

Another flat session on ADX despite rise in value

Thu, 12 Nov 2009 07:00:04 GMT

Abu Dhabi Securities Exchange (ADX) saw another day of flat trading yesterday as the index moved in a narrow range throughout the session.

Taqa profit falls by 88 per cent

Thu, 12 Nov 2009 06:42:14 GMT

Abu Dhabi National Energy Company (Taqa) said yesterday it earned a third quarter net profit of dhs90 million, down 88 per cent from the same quarter last year due to lower oil and gas revenues.

Kuwait stocks biggest loser in Gulf; TASI gains

Thu, 12 Nov 2009 06:27:25 GMT

Kuwait's stock index posted the biggest decline in the Gulf Arab region on Wednesday as concerns over the outlook of heavyweight Zain clouded investor sentiment.

Taqa earnings soften on lower global oil prices

Thu, 12 Nov 2009 05:44:07 GMT

The Abu Dhabi National Energy Company (Taqa) said yesterday its fiscal third-quarter net profit fell 87.55 per cent on year to Dh90 million, mainly due to lower global oil prices, which is the mainstay of its business.

Invest AD, Ekol in EUR50M deal

Wed, 11 Nov 2009 11:45:35 GMT

Abu Dhabi-based Invest AD has agreed to invest 50 million euros to take a significant minority stake in Ekol Lojistik A. (EKOL), Turkey's leading integrated logistics company.

Al Mazaya profits reach AED131M in the first 9 months of '09

Wed, 11 Nov 2009 10:19:07 GMT

Al Mazaya Holding has announced its financial results for the first nine months of 2009 which ended 30 September 2009, with a profit of AED 131 million and earnings per share (EPS) amounting to 29.18 fils.

New code of conduct for listed companies in UAE

Wed, 11 Nov 2009 07:28:08 GMT

New corporate governance rules and an institutional code of conduct for listed companies are being introduced by the Securities and Commodities Authority.

Mena equity markets decline by 1.8% on negative global cues

Wed, 11 Nov 2009 07:27:20 GMT

The Middle East and North Africa (Mena) equity markets fell by 1.8 per cent in October reducing year-to-date (YTD) gains to 24 per cent.

ADX closes flat amid worries of oil price fall

Wed, 11 Nov 2009 07:26:37 GMT

The Abu Dhabi Securities Exchange (ADX) climbed for a third consecutive session yesterday, inching up just 0.66 per cent, or 19.39, points to close at 2,968.13.

Fibre-Optic Network To Cost Etisalat Dh5 Billion

Wed, 11 Nov 2009 06:08:47 GMT

Etisalat has completed 60 per cent of its fibre-optic network nationwide and expects 90 per cent will be complete by early 2011, according to Chairman Mohammed Hassan Omran.

NCB Capital: GCC Economic Monthly (Nov-09)

Wed, 11 Nov 2009 05:14:00 GMT

This is a PDF report.

ADCB Plans TO Disclose Executives' Pay Details

Wed, 11 Nov 2009 04:43:22 GMT

Abu Dhabi Commercial Bank (ADCB) looks set to become the first local lender to disclose the pay packages of top executives to try to increase transparency.

Sabic tops list of largest publicly traded GCC firms

Tue, 10 Nov 2009 05:59:56 GMT

Saudi Basic Industries Corporation (Sabic) is at the top of the largest 100 publicly traded Gulf companies in terms of market value at $64 billion (Dh235bn). It is followed by Al Rajhi Bank at $30bn and Saudi Telecommunications Company (STC) at...

Global cues and Dubai's stand gives ADX a boost

Tue, 10 Nov 2009 05:10:39 GMT

Buoyed with global cues and strong impetus from the Dubai Ruler's statements, the Abu Dhabi Securities Exchange (ADX) moved up for the second consecutive session yesterday, with the general index adding 0.24 per cent, or 7.02 points, to end at...

United Securities: Monthly GCC Top Picks (09-Nov-09)

Mon, 09 Nov 2009 11:45:00 GMT

This is a PDF report.

UAE banks' provisions increase 178%

Sun, 08 Nov 2009 05:41:17 GMT

Nine-month provisions for 19 banks listed on UAE stock exchanges were up more than 178 per cent year-on-year while net profits fell 13.7 per cent at the end of the third quarter, Emirates Business research reveals.

UAE markets face uncertain times amid selling pressure

Sun, 08 Nov 2009 05:37:21 GMT

UAE stock markets are expected to face a period of confusion and lack of clear direction amid dwindling volumes, said analysts.

NBK Capital: MENA in Focus (05-Nov-09)

Thu, 05 Nov 2009 13:03:00 GMT

This is a PDF report.

KAMCO: GCC Equity Markets Monthly Review (Oct-09)

Sun, 01 Nov 2009 10:14:00 GMT

This is a PDF report.

Global: GCC Monthly Market Review (Nov-09)

Sun, 01 Nov 2009 07:17:00 GMT

In continuation of Global Investment House coverage on the GCC markets, we have come out with GCC Market Review ? November 2009.

The performance of GCC markets were depressed during Oct-09 as all GCC markets ended the month in red. Among its peers Kuwait witnessed hardest hit as it declined by 7.2 percent during the month. On the other hand, Saudi market remained quite resilient in terms of monthly change as it witnessed a marginal fall of 0.9 percent during Oct-09. With 3Q2009 earning season was well underway during the month, investors paid close attention to corporate announcements and reshuffled their portfolios accordingly.

On the macro front, the price of oil has risen above US$81 a barrel, a new high for the year, as hopes rise that the global economic recovery is picking up pace. The price of oil has risen in recent weeks, largely on the back of strong company results in the US which have fuelled optimism for the global economic recovery.