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Emirates NBD ends flat, announces launch of back office arm

Advancing financial and real estate shares pushed the DFM General Index added a quarter percent to reach 1,466.08 points. Emaar Properties was the most liquid share (up 0.36% at Dhs2.80). Emirates NBD, the Middle East's largest lender by assets, closed unchanged at Dhs4.10. Earlier in the day ENBD announced the establishment of "Tanfeeth", "a fully owned subsidiary that aims at consolidating the Group's various back-office and operational teams under one management," as the bank claims in a statement. Gulf General Investment Co. ended among the top loser (down 5.77% at Dhs0.245). Fourteen shares gained, 10 lost and four ended flat. Some 59m shares were traded, valued at Dhs72.5m.