Middle East Markets

Gains in Emaar Boost Dubai’s Stocks

by Forex Rooton July 27, 2014 9:51 am BST
Emaar shares rose to 9.70 dirhams, set for the biggest advance in a week. DIB gained to 7.29 dirhams. Shares in Dubai ended a three-day losing streak, led by gains in Emaar (EMAAR) Properties PJSC amid bets the developer’s second quarter earnings will exceed investor expectations. Dubai-based property and construction companies are benefiting from a […]

Saudi Arabia to Open $530 Billion Bourse to Foreigners in Early 2015

by Forex Rooton July 22, 2014 10:16 am BST
Saudi Arabia plans to open its stock market, the Arab world’s biggest, to direct investment by foreign financial institutions in the first half of next year, the market regulator said on Tuesday. The opening of the Saudi market, capitalized at about $530 billion, is one of the most keenly awaited economic reforms in the world’s […]

Dubai index suffers biggest daily loss; Arabtec hurts investors’ sentiment

by Forex Rooton June 25, 2014 8:11 am BST
Dubai index plunges most since August 2013 while Abu Dhabi suffers biggest drop since January 2011 as fall in Arabtec shares triggered a chain of margin calls that forced a broad sell-off. Arabtec Holding Co. (ARTC)’s ambition to become one of the world’s largest construction companies is in doubt after managers behind the plans were […]

Dubai International Capital Looking to Sell Large Holdings

by Christopher Lemieuxon February 6, 2014 5:26 am BST
Dubai International Capital (DIC) LLC is looking for potential buyers of its three largest companies in a deal in excess of $2 billion, according to anonymous sources who had knowledge of the private information. The private-equity firm, owned by the emirate’s ruler, is partnering up with investment bank Evercore Partners Inc. to determine investor demand […]