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Lacklustre Dubai market rises 0.53%
- United Arab Emirates: Sunday, April 21 - 2013 at 13:51
The Dubai Financial Market General Index (DFMGI) closed 0.53% higher at 1,958.63 Sunday. Emaar as the most liquid shares gained 1.56% to close at Dhs5.21. Although trading volumes plummeted (only 66m shares worth Dhs99m changed hands) compared to last week, shares of the DFM (the only Arab bourse listed on an exchange) advanced 0.90%, finishing at Dhs1.14. Aman Insurance lost the most, ending off 3.85%. Emirates NBD, the GCC's second lender after Qatar National Bank, gained 0.70% to reach Dhs4.34. Earlier in the day, the bank confirmed that its CEO Rick Pudner would resign end of 2013 after being at the lender's helm for the last 7 years. Pudner oversaw the merger between Emirates Bank International and National Bank of Dubai (which became Emirates NBD) in 2007 and the takeover of Islamic bank Dubai Bank, which he integrated into ENBD's Islamic affiliate Emirates Islamic Bank last year.
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Gérard Al-Fil, Financial JournalistSunday, April 21 - 2013 at 13:51 UAE local time (GMT+4)
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