Thursday 20 January 2011

Emaar Economic City Falls Most Since October as Loss Widens - Bloomberg

Emaar Economic City retreated the most in three months after the developer of King Abdullah Economic City in Saudi Arabia said its fourth-quarter loss widened.

The shares fell as much as 3.5 percent, the biggest intraday drop since Oct. 20, to 6.95 riyals and traded at 7.05 riyals at 11:17 a.m. in Riyadh.

The real-estate company said its fourth-quarter loss widened to 206.4 million riyals ($55 million) from 69.9 million riyals in the year-ago period.

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