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Business, Economy, Markets

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Avia to buy 40 Boeing aircraft

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.

Emirates half-year profit $2.5bn

The record profit is subject to new 9% corporate tax for the first time.

Lulu’s IPO raises $1.72bn

The proceeds make it the largest UAE IPO of 2024 to date.

DAE 9M net profit $310m

The company said this was a 54.9 percent YoY increase in net profit.

UAE stocks post gain of US$2.72bn in market cap

Dubai General Index slid to 3,382.31 points with blue-chip developer Emaar closing at $1.6.
By TRENDS Desk
September 8, 2022 5:42 pm
  • The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments.
  • Abu Dhabi index (FTFADGI) rose 0.566 percent to 9,717.38 points while Dubai General Index (DFMGI) slid 0.406 percent to 3,382.31 points.

ABU DHABI, UAE – The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments at the realty, banking, telecom sectors and cash inflows by institutions and individuals.

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 $95.3 (AED 350), after $101 million (AED374 million) of liquidity and NBAD edging 0.779 percent higher to $5 (AED18.4).

Dubai General Index (DFMGI) slid 0.406 percent to 3,382.310 pts with blue-chip developer Emaar closing at $1.6 (AED6.01).

Among other stocks, the Emirates NBD and Mashreq Bank increased 1.92 percent, and 1.270 percent to $3.6 (AED13.25) and $21.7 (AED80) respectively.

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