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DFM sees new losses as ADSM drops

Amlak Finance, which pioneered the home finance in the region, registered the biggest loss of 2.8 per cent to Dh3.18 at the Dubai Financial Market (DFM) General Index. Emirates Bank International dropped 2.63 per cent to Dh9.25, Gulf Navigation Holding declined 2.3 per cent to Dh1.29, and Tamweel slipped 2 per cent to Dh4. Emaar Properties, the Middle East's largest real estate developer by market value, slumped 1.81 per cent to Dh10.85. Last week Emaar suffered its biggest loss in over two years as its shares dropped below Dh10.

Public Warehousing Co., a Kuwaiti firm engaged in warehousing and global logistics, topped DFM with a rise of 3.2 per cent to Dh22.80, followed by Shuaa Capital, the UAE's largest investment bank by market value, with a gain of 1.81 per cent to Dh5.05.

The other big gainers were Arab Insurance Group, which advanced 1.44 per cent to Dh3.50; Gulf General Investments, an industrial and hospitality investor and manager, which increased 0.64 per cent to Dh7.85; and National Bank of Dubai, which rose 0.6 per cent to Dh9.05. In Abu Dhabi, International Fish Farming, the UAE's leading aquaculture company, led the losers with a fall of 8.61 per cent to Dh5.41 while Emirates Insurance Co. dropped 7.32 per cent to Dh9.50, and Oman & Emirates Investment Holding Co. declined 6.2 per cent to Dh18.90.

Gulf Medical Projects, which is engaged in hospital management and the establishment of medical manufacturers, topped Abu Dhabi Securities Market (ADSM) Index with a jump of 10 per cent to Dh4.40, followed by Investbank with a rise of 6.3 per cent to Dh3.05. National Marine Dredging Co., whose gross profit for the first-half of 2007 reached Dh98.4 million, gained 4.1 per cent to Dh4.86.