
The Dubai Financial Market (DFM) General Index advanced half a percent to reach 1,691 points straight. Emaar Properties outperformed (up two percent), while district cooling firm Tabreed fell 2.60%. Shares of logistics provider Aramex advanced one percent. Earlier in the day, Aramex announced that it has formalised entry into the South Korean economy, with the signing of a service partnership agreement with CJ GLS, the global leader in logistics innovations with headquarters in Seoul. In a statement to the DFM, Aramex said: "CJ GLS started as the 1st provider of third party logistics in South Korea and has grown into a leading global logistics provider with an extensive network in Korea with 74 distribution centers, and strong global outreach with 25 offices in 12 countries across Asia, Europe and North America." It added, that the move into the South Korean market was in line with Aramex global strategy: "The partnership between Aramex and CJ GLS follows Aramex’s recent venture into the Chinese market with the launch of the joint venture company with SinoAir, and the significant expansion across Africa in 2011 with the acquisition of OneWorld Courier and In-Time Couriers in Kenya, and Berco Express in South Africa." Some 405m shares were traded, valued at Dhs580.5m.
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