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Dubai shares scale new highs

The Dubai Financial Market index hit a record high of 1,194.94 points as stocks rose almost 3% in trading yesterday. Emaar continued to pull the market forward, accounting for $545m of the total $1.2bn in turnover, while over $272m worth of Dubai Islamic Bank shares changed hands on news of the launch of its $1.9bn Al Burj Real Estate Co. Abu Dhabi shares fell almost 1%.