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Monday, 21 April 2014
MIDEAST STOCKS-Dubai surges on Emaar, Arabtec dividend speculation | Reuters
MIDEAST STOCKS-Dubai surges on Emaar, Arabtec dividend speculation | Reuters:
"* Some investors betting Emaar, Arabtec will hike dividend plans
* Foreigners buy into Dubai's Deyaar as ban lifted
* Abu Dhabi's Aldar gains after announcing $1.4 bln in projects
* Qatar's Islamic stocks rise on expected Ezdan buying
* Saudi's Alhokair jumps after Q1 earnings, bonus issue
By Olzhas Auyezov
DUBAI, April 21 (Reuters) - Dubai's bourse posted its highest daily gain since late January on Monday as investors scooped up shares of real estate and construction companies on hopes for increased dividend payouts.
The Dubai benchmark rose 2.9 percent to 4,984 points, its highest level since August 2008, while turnover more than doubled compared to the previous session.
Real estate developer Emaar Properties, whose shares rose 3.9 percent, and construction firm Arabtec , up 9.5 percent, contributed the most to the increase.
Both companies will hold annual shareholder meetings this month to discuss, among other issues, dividend payouts for 2013. Some investors are betting that the companies will end up paying more than initially suggested by their boards, said Sanyalak Manibhandu, manager of research at NBAD Securities."
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"* Some investors betting Emaar, Arabtec will hike dividend plans
* Foreigners buy into Dubai's Deyaar as ban lifted
* Abu Dhabi's Aldar gains after announcing $1.4 bln in projects
* Qatar's Islamic stocks rise on expected Ezdan buying
* Saudi's Alhokair jumps after Q1 earnings, bonus issue
By Olzhas Auyezov
DUBAI, April 21 (Reuters) - Dubai's bourse posted its highest daily gain since late January on Monday as investors scooped up shares of real estate and construction companies on hopes for increased dividend payouts.
The Dubai benchmark rose 2.9 percent to 4,984 points, its highest level since August 2008, while turnover more than doubled compared to the previous session.
Real estate developer Emaar Properties, whose shares rose 3.9 percent, and construction firm Arabtec , up 9.5 percent, contributed the most to the increase.
Both companies will hold annual shareholder meetings this month to discuss, among other issues, dividend payouts for 2013. Some investors are betting that the companies will end up paying more than initially suggested by their boards, said Sanyalak Manibhandu, manager of research at NBAD Securities."
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Damac listing to take Dubai’s sukuk to $19.67b | GulfNews.com
Damac listing to take Dubai’s sukuk to $19.67b | GulfNews.com:
"Damac Real Estate’s sukuk listing on the market in the coming two days will escalate the total value of sukuk on Dubai’s stock markets to $19.67 billion (Dh72.2 billion), according to Essa Kazim, Chairman of the DIFC Authority Board of Directors.
“In the coming two days, Damac will list sukuk worth $665 million, which will increase the total value of sukuk listed in Nasdaq Dubai and Dubai Financial Market (DFM),” Kazim, who is also the Secretary-General of the Supreme Committee of Islamic Economy, said at a media briefing on the Dubai Islamic Economy Development Centre on Monday.
Earlier this month, Damac announced its plan for a $500 million sukuk. The size of the issue was expanded to $665 million from the originally planned $500 million. The total book value exceeded $2.8 billion shortly before issuances."
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"Damac Real Estate’s sukuk listing on the market in the coming two days will escalate the total value of sukuk on Dubai’s stock markets to $19.67 billion (Dh72.2 billion), according to Essa Kazim, Chairman of the DIFC Authority Board of Directors.
“In the coming two days, Damac will list sukuk worth $665 million, which will increase the total value of sukuk listed in Nasdaq Dubai and Dubai Financial Market (DFM),” Kazim, who is also the Secretary-General of the Supreme Committee of Islamic Economy, said at a media briefing on the Dubai Islamic Economy Development Centre on Monday.
Earlier this month, Damac announced its plan for a $500 million sukuk. The size of the issue was expanded to $665 million from the originally planned $500 million. The total book value exceeded $2.8 billion shortly before issuances."
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On Qatar and its LNG competition | The Gulf blog
On Qatar and its LNG competition | The Gulf blog:
"
Robin Tuttle – a solid reporter when it comes to financial-type things in Qatar and the Gulf – has written a good article on Qatar’s LNG future. Indeed, it’s one of the best I’ve seen recently offering a reasonably rounded snapshot of a crucial issue for Qatar going forward.
He rightly notes that Qatar will face stiff competition in coming decades, notably from Australia. As CNN reported back in 2012 in a snazzy slide-show, six out of the world’s ten most expensive energy projects revolve around Australian LNG. Tuttle’s suggestion that Qatar will be surpassed in 2018 as the world’s largest LNG supplier is entirely plausible. However, it is not quite that simple. The bureaucratic and particularly the environmental red tape in Australia are fearsome and while the investment and political will to push through Australia’s impending LNG domination is formidable and will doubtless win out eventually, the cost and the timescale are open to debate."
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"
Robin Tuttle – a solid reporter when it comes to financial-type things in Qatar and the Gulf – has written a good article on Qatar’s LNG future. Indeed, it’s one of the best I’ve seen recently offering a reasonably rounded snapshot of a crucial issue for Qatar going forward.
He rightly notes that Qatar will face stiff competition in coming decades, notably from Australia. As CNN reported back in 2012 in a snazzy slide-show, six out of the world’s ten most expensive energy projects revolve around Australian LNG. Tuttle’s suggestion that Qatar will be surpassed in 2018 as the world’s largest LNG supplier is entirely plausible. However, it is not quite that simple. The bureaucratic and particularly the environmental red tape in Australia are fearsome and while the investment and political will to push through Australia’s impending LNG domination is formidable and will doubtless win out eventually, the cost and the timescale are open to debate."
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Why did a 57% surge in property investment in Q1 not push Dubai house prices up like last year? « ArabianMoney
Why did a 57% surge in property investment in Q1 not push Dubai house prices up like last year? « ArabianMoney:
"New figures from the Dubai Land Department show a 57 per cent year-on-year increase in first quarter investment in Dubai real estate to $9.5 billion, and yet estate agents report much smaller house price increases than a year ago and prices in some areas have hardly moved for six months. Why’s that?
The first quarter was clearly a very strong market. The DLD also reports an 81 per cent surge in individuals making property transactions to 13,279 with 133 nationalities buying Dubai real estate."
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"New figures from the Dubai Land Department show a 57 per cent year-on-year increase in first quarter investment in Dubai real estate to $9.5 billion, and yet estate agents report much smaller house price increases than a year ago and prices in some areas have hardly moved for six months. Why’s that?
The first quarter was clearly a very strong market. The DLD also reports an 81 per cent surge in individuals making property transactions to 13,279 with 133 nationalities buying Dubai real estate."
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UAE anti-money laundering draft law amended | The National
UAE anti-money laundering draft law amended | The National:
"The FNC has made a number of amendments to its key money-laundering legislation. The name of the draft law has been changed to “the anti-money-laundering and combating the financing of terrorism” law. It was previously known as the “anti-money-laundering offences” law.
The first draft had included four activities that were considered criminal offences – transferring, depositing, transmitting or replacing money with the purpose of hiding or disguising its illicit origin. The FNC committee has added two more offences: saving or investing in illegal money.
The amendments aim to criminalise money laundering and to address some of the issues raised by International Monetary Fund experts in their evaluation report on the UAE’s system to combat the illegal practice."
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"The FNC has made a number of amendments to its key money-laundering legislation. The name of the draft law has been changed to “the anti-money-laundering and combating the financing of terrorism” law. It was previously known as the “anti-money-laundering offences” law.
The first draft had included four activities that were considered criminal offences – transferring, depositing, transmitting or replacing money with the purpose of hiding or disguising its illicit origin. The FNC committee has added two more offences: saving or investing in illegal money.
The amendments aim to criminalise money laundering and to address some of the issues raised by International Monetary Fund experts in their evaluation report on the UAE’s system to combat the illegal practice."
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