Benchmark S&P 500 index rises 1.8 per cent
Revenue for full year 2011 increased to $1.8 billion, or Dh6,621 million, from $1.6 billion, or Dh5.9 billion, for full year 2010. Net income for full year 2011 was $121.7 million, or Dh447.1 million, up from $10.3 million, or Dh37.8 million, in 2010.
DAE chairman Shaikh Ahmed bin Saeed Al Maktoum said: “I am pleased with the way in which DAE built on its market position in 2011 and reported record revenues and profits for the year.” DAE Managing Director Khalifa H. AlDaboos said: “DAE demonstrated its earnings power in 2011 with each division contributing towards the record results of the Company. Our strong equity base allows us to be a long-term competitor in our chosen markets.”
DAE is a globally recognised aerospace company specialising in maintenance, repair and overhaul (MRO) services, aircraft completions and aircraft leasing. — abdulbasit@khaleejtimes.com
Benchmark S&P 500 index rises 1.8 per cent
Spot gold was down 0.22 per cent at at 9.10 am
Spot gold was trading at $1,785.82 per ounce at 9.20am UAE time
Dubai’s main share index closed one per cent higher, with Shariah-compliant lender Dubai Islamic Bank rising 1.7 per cent and Dubai Investments up 5.6 per cent
The currency depreciated by 39 paise to close at 79.63 against the US currency on Monday
Spot gold was trading at $1,771.62 per ounce, down by 0.2 per cent at 9.15am
Analysts and forex experts caution that the political instability will continue to weigh on the rupee's future and may slow the recovery pace in coming days
Customers are spending more on customisable cold beverages, food like lime-frosted coconut bars