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Sunday, 13 December 2009 - Dubai stocks maintain profits after break
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    Read more with google mobile : Dubai stocks maintain profits after break

    Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Dubai stocks maintain profits after break AFP - Sunday, December 13 Send IM Story Print Emiratis follow stock market activity at the stock exchange in Dubai . The Dubai stock market opened up on Sunday after a two-day weekend which followed a Thursday surge of 7.0 percent, lifted by property giant Emaar's decision to abandon a merger with state-owned entities DUBAI (AFP) - – The Dubai stock market opened up on Sunday after a two-day weekend which followed a Thursday surge of 7.0 percent, lifted by property giant Emaar's decision to abandon a merger with state-owned entities. Dubai Financial Market index opened 0.9 percent up, and increased gains within 30 minutes to 2.3 percent, or 37.67 points to 1,678.43 points. The value of trades also increased within 30 minutes from 16.3 million dirhams (4.4 million dollars) to 178 million dirhams (48.5 million dollars). Emaar Properties, the largest Middle East real estate firm by market capitalisation, saw its shares rocket on Thursday by 14.84 percent, narrowly missing the maximum-allowed daily increase of 15 percent. On Sunday, Emaar shares were trading more than 6.0 percent up. The recovery followed days of severe battering for leading shares, dropping almost the maximum-permitted 10 percent, as the market remained shaky over Dubai's debt woes. The market trades on Monday on the eve of the maturity of 3.5 billion dollars of Islamic bonds issued by Nakheel, the huge property arm of government-owned Dubai World -- whose liabilities amount to 59 billion dollars. Dubai rocked world markets in late November when it requested a freeze on debt payments by Dubai World, in order to restructure the group. Gulf markets also took the news badly. In neighbouring Abu Dhabi the market was up 2.85 percent in the first 30 minutes to 2,573.54 points. Recommend Send IM Story Print News Search Top Stories Houston is first major US city to elect gay mayor Dubai stocks maintain profits after break 'Whack A Banker' game proving a hit in Britain Top British banker admits 'mistakes' on bonuses US House passes historic financial sector overhaul More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Tiger Woods' girlfriend apologizes in TV interview Top British banker admits 'mistakes' on bonuses 'Whack A Banker' game proving a hit in Britain US House passes historic financial sector overhaul Dubai stocks maintain profits after break More Most Viewed » Global stocks mixed amid Dubai debt crisis Tiny magnetic discs could kill cancer cells: study Virgin unveils spaceship to offer space tourism Mankind using Earth's resources at alarming rate Tiger Woods' girlfriend apologizes in TV interview More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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