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Dubai stocks drop 5.5%
- United Arab Emirates: Sunday, November 01 - 2009 at 16:16
The Dubai Financial Market dropped 5.5% on Sunday to close on 2,076, as market heavyweight Emaar fell sharply for the second straight day. Emaar plunged 7.74% to Dhs4.05 after the head of Dubai Properties, a company which Emaar plans to merge with, was arrested on charges of embezzlement. Shuaa, the UAE's largest investment bank, tumbled 9.69% to Dhs1.77 after posting a third-quarter loss. Overall, 26 stocks fell, two rose, and one remained unchanged.
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StaffSunday, November 01 - 2009 at 16:16 UAE local time (GMT+4)
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