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Deyaar advances on stable net profits
- United Arab Emirates: Wednesday, February 06 - 2013 at 13:58
The Dubai market index DFMGI added 0.10% Wednesday amid higher turnover than yesterday. A total of 316m shares worth Dhs366.7m changed hands. Islamic property firm Deyaar Development gained 1.64% to reach DHs0.371. Deyaar said earlier in the day it generated in 2012 a consolidated net profit of Dhs38.6m against Dhs37.7m in 2011, a 2.40% increase. Emirates NBD fell 1.07% to Dsh3.70. Earlier in the day, ENBD announced the launch of CNY (Chinese Yuan Renminbi) currency-denominated account products that include Current Accounts, Call Accounts and Fixed Deposits. The new products are expected to support SME customers with existing China affiliations to conduct easy trade settlements, provide them with an option of holding their balances in CNY currency, and hedge their currency risks. According to the UAE ministry of foreign trade, bilateral trade between the UAE and China surged 395% in the last 10 years to hit $15.6bn.
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Gérard Al-Fil, Financial JournalistWednesday, February 06 - 2013 at 13:58 UAE local time (GMT+4)
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