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UAE's growth to slow to 2.7% in 2009
A new report by Standard Chartered has found that real economic growth in the UAE is likely to slow down to 2.7% in 2009 compared with 4.8% forecast for this year, reported Khaleej Times. The country's growth will be slowed by a sharp decline in international trade, along with a drop in tourism and lower investments due to expensive credit, the report said. The UAE's huge current account surplus, which was 20% of its GDP last year, will cushion the impact of a slowdown.However, the UAE's huge current account surplus, which was 20% of its GDP last year, will cushion the impact of a global melt-down. 'given the global economic outlook, we should be happy with this number,' Marios Maratheftis, Standard Chartered regional head of research, said. but its economic growth appears to slowdown in 2009, Standard Chartered economists said on Monday.
United Arab Emirates: Tuesday, October 14 - 2008 at 09:45

Global markets soar
Global stocks soared on Monday after US and European governments agreed to buy stakes in banks. The Dow Jones industrial average jumped 936 points, or 11%, to mark the blue chip average's largest ever one-day point gain. Monday's rally was a dramatic turnaround. Other New York markets, the Nasdaq and the S&P also gained more than 10% on the day. In Europe, the French CAC 40 and the German DAX also had gains of more than 10%. London's FTSE 100 finished 8.26% higher, while Asian markets saw similar large gains of between 7-10%.
Tuesday, October 14 - 2008 at 07:40

Gulf stock markets surge
Gulf stock markets, like those in the West, surged yesterday. Having fallen to a four year low on Saturday, the Tadawul closed up 9.5%, above 6,000 points mark. The Dubai Financial Market rose 10.5% to 3,343.56 points, helped by Emaar, which rose 15% after hitting historic lows. Elsewhere, the Abu Dhabi Securities Exchange closed up 6.9% at 3,350.22, the Doha Securities Market was up 8.45% at 7,624.09, Oman's Muscat Securities Market finished 5.2% higher at 7,121.32 points and Bahrain was up 0.8%. However, the Kuwait Stock Exchange dipped, closing almost 0.3% down at 11,826.70.
Middle East: Tuesday, October 14 - 2008 at 07:25

Chinese company to trade on DIFX
The China Security and Surveillance Technology is to begin trading its shares on the Dubai International Financial Exchange today, the first Chinese company to do so. The stock also trades on the New York Stock Exchange.
United Arab Emirates: Monday, October 13 - 2008 at 16:51

DFM, ADX both rise
The Abu Dhabi Securities Exchange has turned the corner and gone up by 6.92%. A total of 39 companies rose, including real estate giant Aldar, which registered gains of 9.56%, with only one firm falling. The Dubai Financial Market rose 10.53%, with 30 companies going up, including Emaar which rose to Dhs5.90.
United Arab Emirates: Monday, October 13 - 2008 at 16:12

UAE guarantees savings
The UAE cabinet has approved a raft of regulations to oversee financial security, including the guaranteeing of investors' deposits and savings and lending operations between banks in the UAE. The measures, which will be in place for three years, will also cover international banks.
United Arab Emirates: Monday, October 13 - 2008 at 09:57

UAE salaries up 13.6%
A survey by recruitment firm GulfTalent.com has shown increases in basic salaries in all GCC states in the 12 months to August 2008. The UAE shows the highest rise at 13.6% with other countries scoring; Qatar 12.7%; Oman 12.1%; Bahrain 10.5%; Kuwait 10.1%; and Saudi Arabia 9.8%
Middle East: Sunday, October 12 - 2008 at 16:01

DFM down over 5%
The Dubai Financial Market has fallen by a further 5.41%. Only two stocks rose, with Emaar falling 10% to Dhs5.13. The Abu Dhabi Securities Exchange fell 2.31%, with only the consumer sector showing an increase.
United Arab Emirates: Sunday, October 12 - 2008 at 15:32