Dubai market decline halted

16 August 2010

Lifted by positive inputs from Asian markets and stabilising oil prices, the Dubai Financial Market (DFM) General Index closed 0.56% higher at 1,473.71 points. Construction and real estate shares, such as Emaar Properties (up 1.28% at Dhs3.16) or Arabtec (three percent higher at Dhs1.67) were demanded in particular, while insurers lost. The DFM itself added 2.82%, closing at Dhs1.46. as Dubai's local exchange announced today that its listed local public joint stock companies have recorded a 100% compliance regarding the disclosure of Q2-2010 results within the deadline of 45 days from the end of the period. DFM suspended trading of 7 foreign listed companies, which didn't disclose its quarterly results within the deadline. Among these firms are Kuwait's International Financial Advisors (IFA) and Bahrain-based Islamic bank Gulf Finance House (GFH).

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