Dubai Shares Gain on Expo Bets as Gulf Stock Rise Amid Iran Deal - Bloomberg:
"Dubai’s benchmark stock index rose to the highest in almost two weeks on bets the emirate will win the right to host the World Expo 2020. Shares in other Gulf markets climbed as Iran signed a nuclear accord.
The DFM General Index (DFMGI) climbed 0.8 percent to 2,913.89 at 10:56 a.m. in the emirate, bringing the gain for the year to 79 percent. Emaar Properties PJSC, builder of the world’s biggest shopping mall by floor space, rose 0.3 percent and Dubai Investments PJSC (DIC) was poised for the highest close since October 2008. Kuwait’s gauge advanced 0.5 percent and Qatar’s increased 0.7 percent.
Dubai is one of four cities competing to host the World Expo and results will be announced Nov. 27. A successful bid would be a milestone in Dubai’s recovery from a property crash in 2009 that wiped as much as 65 percent off home prices. It would boost economic growth by 0.5 of a percentage point per year and by about 2 percentage points in 2020, Bank of America Corp. said in a Sept. 26 report."
'via Blog this'
No comments:
Post a Comment