A glimmer of hope was sent by the Dubai Financial Market (DFM) on Monday as its General Index stabilized at 1,518.11 points (up 0. 31%), outperforming most of the other GCC exchanges. Shares of telecommunication provider du ended among the top gainers at Dhs2.06 (three percent higher). According to Amman-based Jordinvest, inflation in Dubai declined to 0.6% in April 2010 from 4.6% in the same month of 2009, on the back of a 10.5% price drop in the telecommunication sector. Shares of Arabtec advanced 2.07% at Dhs1.97. Arabtec announced today that its subsidiary Target Engineering Construction Company was awarded three projects in Abu Dhabi worth Dhs747m at the Ruwais Refinery Expansion Project. Trading turnover at the DFM surged three percent as shares worth Dhs114.9m changed hands.
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