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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 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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