The UAE financial markets on Friday posted gains of around Dh8.3 billion in market cap driven by upbeat sentiments at the realty, banking and telecom sectors and cash inflows by institutions and individuals alike.
Realty and banking blue chips accounted for the lion's share of transactions that amounted to more than 14,700 worth around Dh1.67 billion over 353.7 million shares.
Dubai General Index (DFMGI) advanced 0.007 percent to 3,462.890 pts as blue-chip developer Emaar properties continued to hike, closing higher at Dh6.100 after drawing Dh155.9 million in cash flows.
Among other stocks, Emirates NBD, Dubai Islamic Bank, and TECOM increased 1.84 percent, 0.84 percent and 0.41 percent respectively.
Abu Dhabi index (FTFADGI) rose 0.133 percent to 10,035.060 pts, with conglomerate International Holding Company (IHC.AD), traded as ASMAK, closing slightly down at Dh341.00, after Dh312 million of liquidity and NBAD edging higher to Dh20.200.
Among other stocks, Abu Dhabi Islamic Bank rose 1.32 percent to Dh9.200 and ADNOC Distribution moved higher to Dh4.690. — Wam
Brent crude and US West Texas Intermediate (WTI) prices slid to eight-month lows on Monday, last trading around $85 and $78, respectively
While global growth this year was still expected at three per cent, it is now projected to slow to 2.2 per cent in 2023, revised down from a forecast in June of 2.8 per cent
In the OECD guidelines, five TP methods have been proposed to assess the arm-length price, which can be categorised into traditional transaction methods, and transactional profit methods
Adnoc to provide liquefied natural gas to the country by late 2022 as part of agreement
On offer is about 550.7 million shares, representing 11 per cent of the company, according to the issued prospectus.