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Shuaa Capital shares cheap like in Feb. 2012
- United Arab Emirates: Thursday, December 06 - 2012 at 13:58
The Dubai equity market index DFMGI closed the Thursday 0.10% lower at 1,609.63 in a lackluster trading session. Emaar as the most liquid share fell 0.53% to Dhs3.76. Air Arabia surged 2.21% to hit Dhs0.741. Earlier in the day, the Sharjah-based budget carrier announced the start of services to Basra, its third destination in Iraq. Investment bank Shuaa Capital fell temporarily over 5% but regained territory in a last-minute move and closed off 3.53% at Dhs0.52, the lowest level in 10 months. ON Wednesday, Shuu said it has entered into a Memorandum of Understanding (MoU) with PT Pratama Capital Indonesia. The MoU involves the development of a mutually beneficial collaboration between the two firms, offering a variety of investment banking services to issuers and investors in the UAE and the Republic of Indonesia. Shuaa narrowed its Q3 losses to Dhs13.9m from Dhs156.2m year on year and aims to profitable in 2013 the earliest.
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Gérard Al-Fil, Financial JournalistThursday, December 06 - 2012 at 13:58 UAE local time (GMT+4)
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