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Wednesday, 22 February 2017

MIDEAST STOCKS-Dubai's Arabtec surges, Saudi's Tasnee jumps after new deal | Reuters

MIDEAST STOCKS-Dubai's Arabtec surges, Saudi's Tasnee jumps after new deal | Reuters:

"Dubai's share index rose on Wednesday as builder Arabtec surged after getting approval from the securities regulator to increase its capital, while Saudi chemicals producer Tasnee gained on news it will sell a major business segment. Arabtec jumped by its 15 percent daily limit percent to 0.97 dirham, bouncing off its lowest closing level in five years on Tuesday. The builder said it received initial approval from the stock market regulator for its recapitalisation programme, subject to completion of its 2016 financial audit and a final sign-off."



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