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UAE markets end lower
The Dubai Financial Market on Thursday lost 2.39% to close on 1,728. Emaar fell 7.28%, while Arabtec dropped 5.99%. In Abu Dhabi, the ADX fell 0.54% to end the day on 2,527. Sorouh gained 4.85%.
United Arab Emirates: Thursday, January 08 - 2009 at 15:29

Borse Dubai seeks $2.5bn loan
Borse Dubai, the owner of Nasdaq Dubai, is seeking a $2.5bn loan this month, Bloomberg has reported, citing bankers close to the talks. Borse Dubai needs to replace a one-year syndicated loan taken out last year to pay for the purchase of Swedish exchange OMX AB. It would be the emirate's first state-owned company to tap banks to refinance a multibillion-dollar loan since September.
United Arab Emirates: Thursday, January 08 - 2009 at 14:47

New Shariah hedge fund index launched
The Dubai Multi-Commodities Centre Authority and Shariah Capital yesterday launched the Dubai Shariah Hedge Fund Index - the first of its kind - to monitor the performance of Islamic hedge funds investing in commodities. The Dubai Shariah Hedge Fund Index will be calculated and reported by Thomson Reuters, the global news and financial information organisation. The Index reflects the performance of the DSAM Kauthar Commodity Fund, Ltd. ('DKCF'). DKCF is an equally-weighted fund-of-funds comprised initially of four single- strategy, commodity-focused funds that invest exclusively in Shariah compliant long/short equity hedge funds on the Al Safi Trust platform
United Arab Emirates: Thursday, January 08 - 2009 at 14:24

Amman bourse to list $70.5m treasury bond
The Amman bourse said yesterday Jordan government treasury bonds worth JD50m ($70.5m) will be listed on Sunday. The bonds carry an interest rate of 7.221% and mature in mid-December of 2010, the bourse said. The bonds number 50,000 and have a nominal value of JD1,000 each.
Jordan: Thursday, January 08 - 2009 at 14:18

Sidf to raise financial guarantees for new projects
The Saudi Industrial Development Fund plans to increase next month the financial guarantees granted to new projects of small and medium enterprises to $400,000. The number of these guarantees is expected to grow to 500 in 2009, an official said.
Saudi Arabia: Thursday, January 08 - 2009 at 13:59

Morgan Stanley unveils equity fund in Saudi
Morgan Stanley Saudi Arabia has announced that it has launched the Morgan Stanley Saudi Equity Fund. The fund is offering GCC investors exposure to the kingdom through investment in Saudi Arabian equities. The launch follows approval by the Capital Markets Authority of Saudi Arabia in August last year.
Saudi Arabia: Thursday, January 08 - 2009 at 13:55

Abu Dhabi plans 7% annual GDP growth
The Abu Dhabi government has announced a long-term plan to diversify the emirate's economy and reduce its dependence on the oil sector as the main source of economic activity, the Emirates News Agency (WAM) reported on Wednesday. The report forecasts that the emirate's economy will grow at seven per cent a year for the next six years and then by six per cent. Overall, gross domestic product will increase more than five times over the next 21 years, the report projects.
United Arab Emirates: Thursday, January 08 - 2009 at 08:04

DFM up slightly, led by Shuaa
The Dubai Financial Market on Wednesday gained 1.57% to close on 1,771. Shuaa Capital was the day's big gainer, up 14.50%, while Emaar rose 3.16%. Arabtec fell 7.27%. In Abu Dhabi, the ADX fell 0.56% to end the day on 2,541. The index's most active stock was Sharjah Islamic Bank, which lost 8.60%. Sorouh gained 6.81%.
United Arab Emirates: Wednesday, January 07 - 2009 at 16:22

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