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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

Al Khazna buys 15% Sanad stake
Al Khazna Insurance Company has acquired 15% stake in Saudi Arabia's Sanad for Co-operative Insurance and Reinsurance, a public company created in 2007 with a capital of SR200m, divided into 20 million shares, and is listed on Saudi stocks.
Saudi Arabia: Sunday, May 11 - 2008 at 10:30

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

Tasi slows down, Savola gains
The Tadawul All-Share Index (Tasi) has lost 2.9% last week, reported Arab News. The Saudi stocks closed at 9,771.85 points from 10,066.16 points in the previous week. Turnover dropped to SR42.91bn compared to SR51.9bn the previous week. Meanwhile, Savola Group emerged as top gainer as its shares jumped 14.71% to SR39.
Saudi Arabia: Saturday, May 10 - 2008 at 09:25

GCC single currency unlikely by 2010
GCC countries are unlikely to form a single currency by 2010 as planned, making it more likely that some of these countries may end their currency pegs to the dollar, Gabriel Stein, an economist at Lombard Street Research told Bloomberg. A single currency is doubtful because Gulf rulers are unwilling to give up sovereignty over monetary and fiscal policy, Stein said, but inflation will accelerate in the meantime, increasing pressure on the states to revalue their currencies.
Thursday, May 08 - 2008 at 15:06

DFM dips, ADSE gains
The Dubai Financial Market on Thursday lost 29.69 points, or 0.51%, to end the day on 5,829. United Foods was the day's big gainer, up 66.67%. National Cement had the day's biggest loss, down 4.35%. Meanwhile, the Abu Dhabi Securities Exchange gained 32.26 points, or 0.64%, to finish on 5,034.
United Arab Emirates: Thursday, May 08 - 2008 at 14:44

FDI in UAE to hit $108bn in 2011
Total foreign direct investment inflow into the UAE is expected to nearly double from $59.2bn in 2007 to $108bn in 2011, according to a report by Barclays Wealth, a part of the UK's Barclays Group. The analysis is based on semi-official data, as the UAE does not publish official FDI figures. However, based on its estimates, Barclays Wealth said the UAE's inflows are high and rising.The United Nations Conference on Trade and Development (Unctad) puts FDI inflows into the UAE at $12 billion in 2005 accounting for about 60 per cent of total inflows into the Gulf that year.
United Arab Emirates: Thursday, May 08 - 2008 at 08:24