"Dubai’s benchmark index (TA-25) declined the most in more than a month on concern slower global economic growth may hurt company earnings.
Emaar Properties PJSC (EMAAR), the developer of the world’s tallest building, retreated to the lowest in more than a week. Dubai Islamic Bank PJSC (DIB), the United Arab Emirates’ largest Shariah-compliant lender, decreased the most since May 9. The DFM General Index (KWSEIDX) lost 1.1 percent to 2,281.27 at the close in the emirate, bringing the two-day drop to 1.8 percent. Abu Dhabi’s benchmark fell 1 percent. The declines pared the gauges’ gains this year to 41 percent and 30 percent, respectively
The MSCI Emerging Markets Index (DSM) lost 1.8 percent last week, the most since the week ended April 5, after Chinese manufacturing contracted for the first time in seven months and amid concern the Federal Reserve will scale back asset purchases. The economy of Dubai, home to the world’s biggest airline by international traffic, is underpinned by trade, tourism and real-estate."
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