Norconsult Telematics

Jobs, News and Information for Jobseekers in the Gulf

Upload Your CV
Find the latest Banking news in Dubai, UAE, Abu Dhabi, Saudi Arabia and the rest of the GCC. Find news of IT, Telecoms, Finance and Banking from the companies in the Middle East.

Latest Banking News

 Page 10 of 15 « 1  ... 56789101112131415»
 

Abu Dhabi’s Index ADI Plummets to a Three Month Low


Abu Dhabi : 03 April

It was a bad day on the Stock Exchange yesterday for Abu Dhabi’s index ADI as it plummeted to its lowest rate for more than three months. Conversely it was a very positive day for Dubai’s index DFM which rose well after Dubai’s Islamic Bank announced its approval of an annual dividend. Other bluechip stocks also climbed stealthily on the day.

Last Wednesday DIB approved a dividend which will be in 15% cash and a 5% bonus share and this caused its price to rise by 4%. Emaar Properties gained 2% and the Dubai Financial Market rose by just over 1%.

However Abu Dhabi’s index plummeted to a low not seen since December 23 of 2009 this was mostly caused by Emirates Telecommunications announcing that it was going to be ex-dividend causing its shares to drop by over 4%.

Subsequently Aabar Investments rose by over 4.5% after a spokesman stated that they are seriously considering converting bonds worth approximately $2 billion to fund its expansion plans.

Zain who sold some of its assets to India’s Bharti Airtel during the week rose by over 1% after they announced a cash dividend but this may be a very temporary gain as they have just now reported a loss for their fourth quarter this year.

Analysts said that Global commodity prices are now gaining steadily and commodity based stocks are a good investment at present, e.g. Oman Cables, Jazeera Steel and National Aluminum.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
01 April

Triago to Raise an Unprecedented $300 Million Outside of the Middle East

Triago is a privately run fund-raiser and equity advisor company which are planning to raise over $300 million from private investors in Asia, the US, Europe and Australia for a Riyadh-based investor fund by the close of 2010.
The company Triago has stated that many companies and investor’s don’t know much about the whole Middle Eastern [...]

31 March

Possible Merger of Dubai Financial Market and the Abu Dhabi Securities Exchange

It was revealed yesterday that representatives from both the Dubai Financial Market and  the Abu Dhabi Securities Exchange held negotiation talks which are believed to be relating to a possible merger between the two exchanges.
Most now feel that it would be the best possible move for both parties as both have been badly hit by [...]

29 March

The National Bank of Abu Dhabi to Recruit 300 UAE Nationals

Three hundred UAE nationals will be recruited by Abu Dhabi’s largest bank this year according to a recent statement. The National Bank of Abu Dhabi (NBAD) needs to recruit three hundred native citizens this year to increase its level of local bank employment to 38% by the end of 2010.
The Bank have stated [...]

28 March

Dubai World Deal Leading to Bond Sale Revival

Once the debt restructuring plans for Dubai World were announced this week credit default swaps linked to Dubai began to plunge almost immediately.  Subsequently bonds sold by Nakheel increased by almost 45% as soon as its debt had been guaranteed by its parent company Dubai World.
Many of those who have borrowed are saying they intend [...]

 Page 10 of 15 « 1  ... 56789101112131415»
About Gulf Jobs Market News
We are dedicated to bringing you all the latest economic and job market news from the Gulf

Read about our writing team here

Got a story?
Contact the news desk at news@gulfjobsmarket.com or by phone at +44 (0) 207 100 4537