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Dubai bourse recovers 0.92%

13 October 2010

Real estate and construction shares lifted the DFM General Index by 0.92% to 1,758.66. Telecom providor du was the stock of the day (up 6.18% at Dhs2.92). Real estate related shares also posted profits. Real estate advisor CB Richard Ellis today said "rents in Dubai fell 13% in Q3 and are likely to fall further." Logistics giant Aramex declined 0.90% to close at Dhs2.20. Together with Abraaj Capital CEO Arif Naqvi, Aramex CEO Fadi Ghandour yesterday launched Wamda, a platform to support young entrepreneurs in the Middle East. "The region has to ask less for help from governments but rais more private initiatives to create start-up companies", Mr. Ghandour told AMEinfo.com.

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