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Economy, Markets

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

UAE stocks gain US$3bn in Wednesday trade

The UAE financial markets on Wednesday posted gains of more than US$3bn) market cap. File pic
By TRENDS Desk
September 8, 2022 9:45 am
  • Abu Dhabi index (FTFADGI) rose 0.566 percent to 9,717.380 pts, with conglomerate International Holding Company (IHC.AD) closing high at AED 350
  • Among other stocks, the Emirates NBD and Mashreq Bank increased 1.92 percent, and 1.270 percent to AED13.250 and AED80.00 respectively

Abu Dhabi, UAE – The UAE financial markets on Wednesday posted gains of more than AED10.billion (US$3bn) in market cap driven by upbeat sentiments at the realty, banking and telecom sectors and cash inflows by institutions and individuals alike.

Abu Dhabi index (FTFADGI) rose 0.566 percent to 9,717.380 pts, with conglomerate International Holding Company (IHC.AD), traded as ASMAK, closing high at AED 350, after AED374 million of liquidity and NBAD edging 0.779 % higher to AED18.400.

Dubai General Index (DFMGI) slid 0.406% percent to 3,382.310 pts with blue-chip developer Emaar closing at AED6.010. Among other stocks, the Emirates NBD and Mashreq Bank increased 1.92 percent, and 1.270 percent to AED13.250 and AED80.00 respectively.

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