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GCC markets witnessed mixed trends in the last trading week of the year 2009. While UAE, Oman and Bahrain markets ended on a positive note, those in Qatar, Saudi Arabia and Kuwait closed 1-2% lower in the week ended December 31, 2009.
UAE: UAE markets recovered after last week’s downtrend. The DFM and ADX gained 2.5% [...]
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Topaz Energy and Marine, a wholly owned subsidiary of Oman’s Renaissance Services, divested its offshore support vessel TEAM Siam to Thailand’s Mermaid Offshore Services Ltd for $29.5 Mn.
Bahrain Flour Mills Company received about BD10 Mn as a government subsidy in 2009, due to the rise in the global wheat prices. The company [...]
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Gulf Finance House bought back $9 Mn worth of sukuk in the fourth quarter of the year.
US-based Ripplewood Holdings sold the remaining 4.7% stake in Egypt based Commercial International Bank.
Abu Dhabi government announced the establishment of the Emirates Nuclear Energy Corporation, which will award AED151 Bn worth of contract to one of [...]
GCC markets witnessed selling pressure across counters and dropped 1-2%, failing to hold on to levels achieved after a strong rally in the previous week. Baring Saudi Arabia, all other GCC markets succumbed to profit booking this week, with Dubai (down 6.4%) cracking the most.
UAE: UAE markets saw heavy selling pressure throughout the week, with [...]
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Saudi Arabian Mining Company signed an agreement with Alcoa to build $10.8 Bn worth aluminium complex.
Saudi Arabia based Al-Tayyar Travel Group plans to raise $320 Mn from an initial public offering. The company is eyeing 30% stake in its UK counterpart to fund its expansion.
Fitch Ratings affirmed ratings for the Industrial Bank [...]
Most GCC markets rebounded this week as concerns pertaining to Dubai’s debt burden eased. The Abu Dhabi government extended financial support to Dubai, increasing optimism among GCC investors. Positive developments in Dubai also helped other GCC markets gain 2–5% this week.
UAE: UAE markets bounced back, with DFM and ADX gaining 14.5% and 10.8%, respectively, during [...]
Aranca is one of only five partners of the Irideus.org initiative, which is slated to emerge as a standard solution for global smaller/mid-cap research coverage
London: Tuesday, 8th December 2009: Aranca, a leading global provider of on-demand custom investment and business research services, has joined hands with Irideus.org – the Intermediated Research Initiative – to offer [...]
