Abu Dhabi bourse closes almost unchanged

27 June 2010

Abu Dhabi's ADX General Index ended insignificantly lower at 2,551.16 points. Real estate giant Aldar Properties lost 0.64% and finished at Dhs3.06. Aldar announced today that it signed with Abu Dhabi National Insurance Company (ADNIC) an agreement whereby ADNIC will be the first sub-developer in Al Raha Beach, Aldar's waterfront development, which includes a mix of residential communities as well as business, retail and leisure. ADNIC will develop 16,465sqm office building and 198 apartment residence on two plots. Shares of oil and gas bellwether Abu Dhabi National Energy (Taqa) lost 0.90%, closing at Dhs1.10. Taqa North, a subsidiary of Taqa, announced that it has acquired a portion of Suncor Energy Oil and Gas Partnership interests in West Central Alberta for a total of CDN285m (around Dhs1bn).

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