Markets in the UAE hit new multi-year highs on Tuesday, delaying an expected bout of profit-taking as upbeat earnings added fuel to the bullish sentiment, while Saudi Arabia and Egypt fell.
In Dubai, banks rallied. Dubai Islamic B
The banking and property stocks in the United Arab Emirates' bourses are expected to come under pressure after the central bank decided to cap mortgage loans for foreigners and nationals.
The UAE central bank has decided to li
Stock markets in the United Arab Emirates need additional liquidity from government funds to counter slumping volumes and muted investor activity, the chief executive of Dubai-based Daman Investments said.
'I think there should be a pr
Markets in the United Arab Emirates remained largely unchanged amid lacklustre trading, as second-quarter earnings failed to inspire investors.
Dubai's index ended 0.03 lower at 1,512 points, while Abu Dhabi's bourse finished 0.06 lower at
Dubai's index fell 6.1 percent in early trading, extending losses for a second consecutive day as investors continued to sell, despite the latest statement from Dubai World which seeks to clarify the conglomerate's debt restructuring.
The United Arab Emirates offered banks emergency support on Sunday, the first steps to ease fears that a looming debt default by two of Dubai's flagship firms could derail the global economic recovery.
But the move to inject liquidity
UAE markets will face intense selling pressure when they reopen on Monday in the first post-holiday trading after Dubai shocked global markets last week by seeking a debt standstill for two flagship firms.
Banks, property and construction
UAE markets today offered a mixed picture as uncertainty over the global economic outlook led to volatile trading.
Dubai's main index fell 1.72 percent to 4,234 points, while Abu Dhabi's benchmark roses 1.96 percent to 4,026 points.