2005
- The news you choose »
- Login to Add to Watchlist
ATTC, 400pc gains
Dubai-based Arab Technical Construction Company returned a gain of 400 per cent after listing four months after public issue, reported Gulf News. Carrying a nominal value of Dh1, the shares opened at Dhs5 and rose to Dhs6 before closing at Dh4.87. A total of 11.46m shares were traded valued at Dh55.80m.
Brokers to set guarantees
The Emirates Securities and Commodities Authority will allow brokers to self-regulate guarantees provided stock markets formulate appropriate mechanisms to set levels, according to Esca Chairperson Shaikha Lubna Al Qasimi, as quoted in Gulf News. At present, brokers provide a minimum guarantee of Dhs10m to the exchanges.
Doha Bank, new deposit scheme
The Doha Bank has launched its Al Jana Deposit Scheme that offers long-term gains as well as free gifts. Customers can choose from deposits made in QR or dollars with a tenure of 37 months, 49 months or 61 months. Under two schemes, loans can be taken against the deposits at attractive interest rates. Premature liquidation of the deposit is not permitted in any of the schemes.
IPOs to broaden UAE bourse
Market analysts told Gulf News that planned IPOs for 2005 would help to stop the focus of investors on just a few stocks in the UAE bourse. New figures showed that just 10 stocks, led by Emaar Properties, dominated trading in 2004.
Citibank awards, 50pc up in DSF
Citibank UAE credit cards will offer a 50 per cent bonus in Skywards Miles or CitiDollars for card spending during the Dubai Shopping Festival which runs from January 12 to February 12. There will also be the chance to win a LandCruiser every week for four weeks.
meSelect, tailor-made banking
Emirates Bank has introduced its new meSelect tailor-made banking service which says it will treat customers and individuals and not part of the crowd. A full range of attractive low-cost and free banking services come with this package. Visit www.me.ae for details.
Mid-year correction for UAE
The UAE bourse is likely to see a correction this summer after dividends are declared, Emirates Financial Services General Manager Suresh Kumar told BBC World last night. In 2004 the UAE stock market Emnex index surged by 89 per cent to a record high.
It looks like you are using a Mac - check out our 
Web Feeds