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Tuesday, 19 July 2016

More Dubai property deals over first six months – but total value lower | The National

More Dubai property deals over first six months – but total value lower | The National:

"The value of property deals transacted in Dubai in the first six months of the year fell despite a rise in the number of transactions.

According to figures from the Dubai Land Department published yesterday, the total value of real estate transactions in Dubai fell 12.4 per cent to Dh113 billion in the first half of 2016 from Dh129bn during the same period a year earlier.

However, the DLD reported that the number of transactions taking place over the period increased by more than a fifth, rising to 28,251 sales, mortgages and other transactions in the first half of 2016 from about 23,000 a year earlier."



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Full Show: Bloomberg Markets Middle East (07/19) - Bloomberg

Full Show: Bloomberg Markets Middle East (07/19) - Bloomberg:




"Bloomberg Markets Middle East hosted by Yousef Gamal El-Din and Angie Lau. Guests include Nadir Qureshi, chief investment officer at Makara Capital, Shamsheer Vayalil, chief executive officer at VPS Healthcare, and Jaap Meijer, managing director and head of research at Arqaam Capital. (Source: Bloomberg)"



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UPDATE 1-Qatari bank CBQ misses estimates with profit drop | Reuters

UPDATE 1-Qatari bank CBQ misses estimates with profit drop | Reuters:

"Commercial Bank of Qatar (CBQ) posted a 62.9 percent slump in its second-quarter net attributable profit on Tuesday, missing analysts' forecasts as rising impairments on bad loans and weaker results at its overseas subsidiaries weighed heavily.

The result contrasts with those of the three other large Qatari lenders, which all reported rising profits for the quarter, even as the local economy slows and challenges emerge in the domestic construction sector.

The Gulf Arab state's third-largest lender by assets earned a net profit attributable to equity holders of 212.3 million riyals ($58.3 million) in the three months to June 30, it said in a statement."



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MIDEAST STOCKS-Qatar outperforms again in sluggish region | Reuters

MIDEAST STOCKS-Qatar outperforms again in sluggish region | Reuters:

"Qatar's stock market rose on Tuesday after breaking major technical resistance, but other markets in the region were sluggish, held back by soft oil prices and mixed corporate earnings.

The Qatari index climbed 0.6 percent to 10,649 points in a broad-based rise, with nine of the ten most heavily traded stocks gaining. Trading volume fell from Monday's high level but remained active.

On Monday the index had broken above its December and March peaks at 10,490 and 10,502 points, triggering a "reverse head and shoulders" pattern formed by the highs and lows since December and pointing up in the long term to around 12,600 points."



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MIDEAST STOCKS-Markets move little on mixed earnings; Saudi's Ma'aden sinks | Reuters

MIDEAST STOCKS-Markets move little on mixed earnings; Saudi's Ma'aden sinks | Reuters:

"Gulf stock markets mostly moved little in early trade on Tuesday, restrained by weak oil prices and mixed corporate earnings, while Saudi Arabian Mining Co (Ma'aden) fell sharply after announcing a plunge in second-quarter profit.

The Saudi stock index dropped 0.3 percent in the first half hour as Ma'aden slid 4.4 percent. It posted a 51 percent year-on-year drop in net profit because sales revenues were hit by low commodity prices, although the profit was at the high end of analysts' estimates.

Saudi Airlines Catering fell 1.0 percent after announcing a 17 percent decline in quarterly profit."



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