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RAK plans billion dollar sukuk
- The emirate of Ras Al Khaima is planning to issue a dirham-denominated Islamic bond, to raise money for infrastructure projects. The inaugural issuance will cover a five-year period. Reuters reports estimate that the total value of the sukuk will exceed $2bn.
- United Arab Emirates: Monday, May 05 - 2008 at 08:47
DFM, ADSM on slight gain
- The Dubai Financial Market ended the day, Sunday at 5,842.87, up by 0.47%. Top gainers include Aman, Amlak, and DFM company. The Abu Dhabi Securities Market also showed positive changes, ending the day at 5,045.46, up by 0.41%.
- United Arab Emirates: Sunday, May 04 - 2008 at 15:12
Bahrain-Iran trade up 200%
- Bahrain's commercial and investment ties with Iran have risen almost 200%, the Bahrain Tribune has reported. Non-oil trade volume rose to $99.5m in 2005, up 195.3% on 2004 trade. The reported figure for 2006 stood at $99.7m.
- Bahrain: Sunday, May 04 - 2008 at 09:02
Foreigners buy Dhs2.4bn in DFM
- The Dubai Financial Market said foreign investors share value reached Dhs2.374bn last week, 38.9% of the total value of stocks traded during the period. Meanwhile, the value of stocks bought by institutional investors has reached Dhs1.9bn or 31.1% of the total value of stocks traded during the period.
- United Arab Emirates: Saturday, May 03 - 2008 at 14:49
Tasi on upward trend
- The Saudi stock exchange stayed in upward trend the past week, reported Arab News. The Tadawul All-Share Index (Tasi) reported 3.2% gain and broke its barrier of 10,000 points, closing at 10,066.16 points. However, it remains 8.8% lower than the year’s start.
- Saudi Arabia: Saturday, May 03 - 2008 at 09:46
UAE markets end higher
- The Dubai Financial Market on Thursday gained 77.81 points, or 1.36%, to end the day on 5,815. Two of the days' big gainers were Gulf Navigation, up 4.38%, and Mazaya Holding, up 4.35%. Meanwhile, the Abu Dhabi Securities Market rose 35.99 points, or 0.72%, to close on 5,042.
- United Arab Emirates: Thursday, May 01 - 2008 at 14:16
UAE cuts repo rate
- The UAE has lowered its repo rate by 0.25 percentage point to 2% today, reported Bloomberg, citing a central bank official who declined to be identified. The US Federal Reserve yesterday cut rates by the same amount.
- United Arab Emirates: Thursday, May 01 - 2008 at 10:50 |
Mubarak proposes 30% pay rise
- Egyptian President Hosni Mubarak yesterday called for a salary increase of about 30% for public-sector employees to help offset soaring prices, especially of food, reported Reuters. In a speech to the national trade unions federation, Mubarek said the government should initiate the increase immediately, rather than wait for the start of the financial year on July 1.
- Egypt: Thursday, May 01 - 2008 at 10:29
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