Shuaa Q4 losses reduced

Dubai-based investment bank, Shuaa Capital has said it had reduced its quarterly net loss from Dhs577.4m in Q4 2008 to Dhs154.3m in Q4 2009. "The fourth quarter 2009 results reflect Dhs53.2m of impairment charges and prudent provisioning of Dhs89.8m as the firm reduces downside risks, emanating from volatile markets," Shuaa said in a statement. The firm recorded a loss for the year of Dhs529.8m including investment impairment charges of Dhs312.2m and provisions of Dhs210.5m.