Zawya.com - Dubai FM News

EFG: Regional Monthly (05-Nov-09)

Sun, 08 Nov 2009 05:13:00 GMT

This is a PDF report.

UAE Equities Fall in Choppy Trading on Economy Woes

Fri, 06 Nov 2009 07:49:48 GMT

UAE shares dropped for a third day to cap a choppy trading week on Thursday, as bourses continued to track global declines, with most investors treading cautiously on lingering worries over the strength of a world economic turnaround.

Prime: Traders Corner - UAE (05-Nov-09)

Thu, 05 Nov 2009 14:10:00 GMT

This is a PDF report.

Markaz: GCC Quants (Nov-09)

Thu, 05 Nov 2009 09:11:00 GMT

This is a PDF report.

Deyaar ex-CEO embezzled Dh6 million, says witness

Thu, 05 Nov 2009 06:38:15 GMT

The Dubai Court of Misdemeanour yesterday postponed to November 23 hearing in a trial involving nine accused of embezzlement at real estate company Deyaar.

DFM rebounds again amid speculation

Thu, 05 Nov 2009 05:55:48 GMT

The Dubai Financial Market (DFM) index bounced yesterday for the second time this week amid high volatility and speculative movements, which is projected to continue for the next few sessions.

Shuaa Capital To Sell Stakes In Associates

Thu, 05 Nov 2009 04:53:31 GMT

Shuaa Capital is planning to sell its shareholdings in a number of associates, according to a company document. The CEO of the firm, Sameer Al Ansari, has stated that Shuaa has appointed Bain & Company, a global business consulting firm, to help formulate future strategy.

'Evaluation' delays Amlak-Tamweel plan

Wed, 04 Nov 2009 07:20:23 GMT

The main stumbling block in the merger process between Amlak Finance and Tamweel is the "evaluation" of the two companies, according to a source close to the process.

High volatility drags DFM down again

Wed, 04 Nov 2009 06:47:05 GMT

The Dubai Financial Market (DFM) is suffering from an unprecedented aggressive volatility that may remain in the coming few sessions before the market starts to stabilise, according to analysts.

Daman Investments plans 2012 IPO as part of growth strategy

Wed, 04 Nov 2009 05:53:24 GMT

Daman Investments, a leading private sector investment management company based in the UAE has plans for an initial public offering (IPO) by 2012 as part of a new corporate strategy.

US investors seek closer links with Borse Dubai

Wed, 04 Nov 2009 05:37:30 GMT

The Borse Dubai International Investor Conference New York 2009, co-hosted by the Dubai Financial Market (DFM) and Nasdaq Dubai, in cooperation with Citigroup Global Markets and Goldman Sachs, came to a close yesterday.

Banks In Dubai Face Another Year Of Bad Debt

Wed, 04 Nov 2009 04:05:44 GMT

Banks are in for another year of weak profits and high provisions for bad debts including loans to two struggling Saudi conglomerates before business picks up again, according to the chief executive of Mashreqbank.

Daman Investments unveils strategy to achieve IPO by 2012

Tue, 03 Nov 2009 11:05:19 GMT

Daman Investments PSC, a leading private sector investment management company based in the UAE, has launched a new corporate strategic plan to enhance its shareholding structure and pave the way for a successful Initial Public Offering (IPO) by 2012.

Dubai bourse bounces back strongly

Tue, 03 Nov 2009 07:47:57 GMT

The Dubai Financial Market (DFM) yesterday regained most of its losses incurred at the beginning of the week despite continued high volatility in the market.

Shuaa Capital welcomes Moody?s two notch upgrade

Tue, 03 Nov 2009 07:08:30 GMT

SHUAA Capital, the region?s leading financial services institution, said it is very encouraged by the upgrade of Moody?s Investor Services of its foreign currency and local currency issuer ratings by two notches from B1 to Ba2. The ratings now carry a stable outlook.

Drake & Scull posts Dh71m profit

Tue, 03 Nov 2009 05:37:44 GMT

Drake & Scull International PJSC (DSI) yesterday reported a net profit of Dh71 million while revenues amounted to Dh400 million for the third quarter ending September 30.

Activity declines in ME IPO market in Q3 of 2009: E&Y

Mon, 02 Nov 2009 10:51:18 GMT

The initial public offering (IPO) market in the Middle East has declined according to the figures in the Ernst & Young Middle East IPO Update for the third quarter (Q3) of 2009.

Dubai index falls 5.5% over speculation

Mon, 02 Nov 2009 08:20:10 GMT

Severe panic selling and speculation dragged the Dubai Financial Market (DFM) index down 5.50 per cent yesterday to close at 2076.56 points amid negative impacts from global and regional markets and lack of strong domestic movers.

DFM supports private firms planning to go public

Mon, 02 Nov 2009 07:54:39 GMT

Dubai Financial Market (DFM) is supporting private companies looking to go public amid signs of restoring initial public offering (IPO) activity.

Dubai Investments posts Dh2.7b income as cost cuts take hold

Mon, 02 Nov 2009 06:06:15 GMT

Dubai Investments yesterday reported consolidated total income of Dh2.7 billion for the third quarter, with profit of Dh822 million.

Broker Boom

Mon, 02 Nov 2009 05:27:24 GMT

Financial brokerage companies in the UAE are still making profits despite taking a hit from the global recession, which has resulted in a 57% drop in revenues in the sector, according to a study.

Mashreq opens first branch in Kuwait

Mon, 02 Nov 2009 05:01:50 GMT

Kuwait Leading financial institution mashreq inaugurated its 94th branch in the Middle East region yesterday.

Global: MENA, Oil & International Markets Monthly Technical Analysis Report (Nov-09)

Sun, 01 Nov 2009 12:04:00 GMT

This is a PDF report.

DFM assisting Yemen to launch oys own financial market

Sun, 01 Nov 2009 09:57:23 GMT

Dubai Financial Market is assiting Yemen to establish its own financial market and related infrastructure, a senior Yemeni economic official has disclosed.

Dubai Investments reports profit of AED 822 million

Sun, 01 Nov 2009 08:56:22 GMT

Dubai Investments reported consolidated total income of AED 2.7 billion, with profit of AED 822 million for the nine month period ended 30th September 2009.

du Announces Third Quarter 2009 Results

Sun, 01 Nov 2009 07:31:19 GMT

du's revenues for the quarter of AED1,332.9 million consistent with the previous quarter and up 25.8% vs Q3 2008

Gulf Navigation Eyes Acquisitions Amid Loss

Sun, 01 Nov 2009 06:11:34 GMT

Gulf Navigation, despite posting a 91 per cent decline in profits for the first nine-months of 2009, is in discussions with an unnamed firm to purchase four petrochemical carriers and seeks to expand its fleet of tankers via acquisitions and new manufacturing.

NCB Capital: GCC Debt Market Tracker (Oct-09)

Sat, 31 Oct 2009 13:12:00 GMT

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Dubai Properties Chairman Under Graft Probe

Sat, 31 Oct 2009 06:13:56 GMT

The Public Prosecution is investigating allegations of misuse of authority and embezzlement by Hashim Al Dabal, chairman of Dubai Properties.

UAE Shares Fall on Disappointing Earnings

Fri, 30 Oct 2009 06:46:41 GMT

UAE shares tumbled on Thursday, as disappointing earnings results at home, and a sell-off in global equities due to weak US housing data, triggered profit-taking.

Mashreq registers net income of AED 1.12 billion for nine months to 30th September 2009

Thu, 29 Oct 2009 15:29:52 GMT

Mashreq reported a 20% year on year increase in operating income for the first nine months of 2009 to AED 3.9bn.

EFG-Hermes: MENA Focus List (29-Oct-09)

Thu, 29 Oct 2009 14:37:00 GMT

Performance YTD: Year-to-date, the MENA Focus List has risen 44.7% versus 27.1% for the MSCI Arabian Markets Index and 18.5% for the MSCI Arabian Markets ex Saudi Arabia Index. The Focus List continues to lag the continued strength of emerging markets, with the MSCI Emerging Markets benchmark having risen 61.7% year-to-date.

Increasing High-Beta Names: We see growing institutional interest in MENA markets, which have lagged larger emerging markets in the 2009 rally. We believe that the ongoing resolution of Dubai?s debt should support performance in the UAE and our economists see strong growth underpinned by a fiscal stimulus across much of the region. Fund flows into EMEA and MENA-related funds are positive, and the global monetary environment favours continuing strength in risk assets. We therefore take profits on a number of lower

GulfNav PJSC Announces 3rd Qtr 2009 Results

Thu, 29 Oct 2009 10:53:28 GMT

Gulf Navigation Holding the leading non-state ship owning and maritime services company in the region has announced today its consolidated financial results for the first 9 months of 2009.

Aramex Looks To Acquire Firms In Africa And Asia

Thu, 29 Oct 2009 08:26:29 GMT

Dubai-based logistics solutions provider Aramex is looking at acquiring new companies located outside the GCC.

Most cement firms post declines in their profits

Thu, 29 Oct 2009 08:19:41 GMT

Cement firms in the region and especially in the UAE will continue to announce below par results until the end of 2010, senior industry officials said.

Emirates Business says Tamweel report based on facts

Thu, 29 Oct 2009 08:18:22 GMT

Tamweel has issued a statement on the Nasdaq Dubai and DFM websites referring to a report published on Tuesday by Emirates Business relating to a case heard by the Dubai Criminal Court.

DFM continues to slip on profit booking

Thu, 29 Oct 2009 08:16:20 GMT

Equities on the Dubai Financial Market (DFM) ? led by realty and banking stocks ? lost further ground yesterday in the midst of weak global factors.

JLL: Pulse - MENA House View (Oct-09)

Thu, 29 Oct 2009 08:07:00 GMT

This is a PDF report.

Aramex Breaks Grounds On Dubai Logistics City Hub

Wed, 28 Oct 2009 13:21:40 GMT

AED 120 million Aramex Logistics Centre due for completion in Q1 2011; total built-up area to exceed 43,000 sqm.

KMEFIC: GCC Economic Digest (Q3-09)

Wed, 28 Oct 2009 11:03:00 GMT

This is a PDF report.

DFM retreats as investors sell stocks

Wed, 28 Oct 2009 05:45:49 GMT

Dubai Financial Market witnessed a U-turn in its trading pattern yesterday as the exchange recorded minor profit booking amid weak global cues.

Emirates NBD reported the financial results for the 3Q 2009 ending September 30th

Tue, 27 Oct 2009 14:30:45 GMT

The bank achieved a 3Q 2009 net profit of AED1.053 billion, 24% higher than the AED852 million reported in 2Q 2009 and 3% higher than the AED1.018 billion reported in 3Q 2008.

NBAD's Q3 net profit rise 41% to AED 914 million

Tue, 27 Oct 2009 11:49:13 GMT

National Bank of Abu Dhabi (NBAD) recorded net profits of AED 914 million in the third quarter of 2009, an increase of 41% compared with AED 651 million for the third quarter of 2008.

Deyaar rules out more layoffs after 20% cuts

Tue, 27 Oct 2009 06:36:17 GMT

Deyaar Development has ruled out more layoffs after it cut workforce by 20 per cent, the CEO said.

Details of Tamweel trial to be submitted to court

Tue, 27 Oct 2009 06:32:57 GMT

Details of the Tamweel bribery trial are to be put before a court that is hearing a separate case involving alleged embezzlement by senior officials at the mortgage lender.

DFM gains 3.3% on Emirates NBD boost

Tue, 27 Oct 2009 06:26:59 GMT

The Dubai Financial Market continued its upward march yesterday thanks to promising third-quarter results that further boosted market sentiment.

Dubai To Seek Investors In New York

Tue, 27 Oct 2009 05:47:35 GMT

Some of Dubai's biggest listed companies will make presentations next week in New York to stoke investor interest as firms in the GCC mount a recovery from the financial crisis.

GFH realizes $50m in partial sale of Qinvest to QIB

Mon, 26 Oct 2009 12:14:06 GMT

Gulf Finance House (GFH), the leading Middle Eastern Islamic investment bank announced the signing of an agreement with Qatar Islamic Bank (QIB) relating to the sale of 10% of its 15% stake in Qinvest to QIB.