United Arab Emirates Financial Market Update

UAE markets end slightly lower
The Dubai Financial Market ended the day slightly lower, dipping 1.31 points to finish on 5,685. Arab Insurance Group was day's big gainer, up 9.06%. Meanwhile, the Abu Dhabi Securities Exchange fell 9.26 points, or 0.18%, to close at 5,016.
United Arab Emirates: Thursday, May 15 - 2008 at 14:51

Workforce survey planned for UAE
The UAE's Ministry of Economy is launching a national survey to compile reliable statistics on the workforce in the country. The survey, which will begin on May 17, will be conducted against a representative benchmark of sample families across the UAE. Relevant data will be collected through field visits to these families.
United Arab Emirates: Thursday, May 15 - 2008 at 09:40

UAE trade surplus to hit $72.5bn
A new report by the International Monetary Fund said the UAE's current account balance is projected to grow by a record $24.2bn or 58% in 2008 to $65.9 billion while the country's balance of trade is set to jump 60% to $72.5bn in 2008, reported the Khaleej Times. In 2007, the UAE's current account balance rose by 16% to $41.7bn from $35.9bn in 2006. The surge in the current account balance was due to a record jump in exports of goods and services, analysts said.
United Arab Emirates: Thursday, May 15 - 2008 at 07:54

UAE stocks end mixed
The Dubai Financial Market on Wednesday lost 34.38 points, or 0.60%, to end the day on 5,686. United Foods was the day's big gainer, up 4.91%. Meanwhile, the Abu Dhabi Securities Exchange gained 3.96 points, or 0.08%, to finish on 5,026.
United Arab Emirates: Wednesday, May 14 - 2008 at 14:34

UAE stocks end lower
The Dubai Financial Market on Tuesday lost 78.00 points, or 1.35%, to end the day on 5,721. Market heavyweight Emaar dipped 1.69%. The Abu Dhabi Securities Exchange also ended lower, down 4.43 points, or 0.09%, to finish on 5,022.
United Arab Emirates: Tuesday, May 13 - 2008 at 14:35

Dubai's ruler to buy Aussie horse business
Dubai's ruler, Sheikh Mohammed bin Rashid al-Maktoum, has received approval to buy Australia's largest thoroughbred horse breeding business, reported Bloomberg. The Foreign Investment Review Board has approved the Sheikh's purchase of Inghams Enterprises, which is estimated to be worth $473m. Sheikh Mohammed, who owns stud farms in five countries, will take ownership 1,000 Australian thoroughbreds, the Woodlands stud farm, and racetrack training facilities in Sydney and Melbourne.
United Arab Emirates: Tuesday, May 13 - 2008 at 13:19

UAE stocks end positive
The Dubai Financial Market end the day, Monday, ending at 5,799.15 and has gained 1.00%. Top gainers include IAIC, Emaar, DFM, Gulfnav and DIB. The Abu Dhabi Securities Exchange also showed positive results at 5,026.57, higher by 0.41%.
United Arab Emirates: Monday, May 12 - 2008 at 14:35

DFM drops, ADSE slides slightly
The Dubai Financial Market ended the day, Sunday at 5,741.55, plunging by 1.52%, as Dubai's major real estate players dipped by 2%. Meanwhile, the Abu Dhabi Securities Exchange went slightly down by 0.57 ending at 5,006.24.
United Arab Emirates: Sunday, May 11 - 2008 at 14:33

Abu Dhabi sees $300bn GDP in 2025
A report by the Department of Planning and Economy projected Abu Dhabi's gross domestic product (GDP) will triple to $300bn by 2025, cited Gulf News. The report estimates it will reach $105bn this year. Currently, Abu Dhabi has an average per-capita GDP of $74,000, the second highest in the world.
United Arab Emirates: Sunday, May 11 - 2008 at 09:26

$300m Retakaful launched
Dubai Group has launched the ACR ReTakaful Holdings Limited with a paid-up capital of $300m through a joint venture with Khazanah Nasional Bhd, the investment arm of Singapore-based Asia Capital Reinsurance. The business will look into non-life, non-cyclical and large speciality risks in infrastructure and transportation industries such as aviation, marine, energy and engineering.
United Arab Emirates: Saturday, May 10 - 2008 at 14:01