Sell in May and go away, the old adage goes. With the traditional summer lull approaching and Ramadan less than three months away, many traders appear already to have fled the UAE's markets.
Trading values on the Dubai Financial Market dipped below their six-month average last week as investors sat on the sidelines.
Markets had been expected to experience a rise in sentiment as the Jebel Ali Free Zone Authority and DIFC Investments, two government-linked holding companies, said they had entered talks with creditors to refinance Islamic bonds worth a total of US$3.25 billion.
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