Dubai market gains 2.3% over the week

07 October 2010

The DFM started the fourth quarter positively, advancing by 2.3%. On Thursday the DFM General Index added 1.04% to close at 1,722.55. Emaar was the most liquid stock, ending at 1.06% higher at Dhs3.83. Emirates Integrated Telecommunications Co., better known as Du, added 0.37% to close at Dhs2.68. Du secured a $255 million export credit facility with The Export-Import Bank of China in order to finance equipment imports from Huawei, a leading global telecommunications solutions provider. The equipment was purchased by Du to further the expansion of du's 3G network. Traded value decreased 21% to Dhs313.36m while shares changed hands declined by a third too 152.34m.

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