MIDEAST STOCKS-Emaar helps Dubai rebound, Saudi banks recover:
"Emaar Properties and contractor Drake & Scull helped Dubai’s market to rebound in early trade on Tuesday and Saudi Arabia edged up, led by petrochemical and bank stocks.
The Dubai index rose 0.6 percent with Emaar adding 1.2 percent, recouping part of Monday’s 2.0 percent loss sustained after the company said it expected to sell 20 percent of property development unit Emaar Development LLC next month in an initial public offering.
Previously, Emaar had said it would offer up to 30 percent of the business, distributing the funds raised as dividends to shareholders in the parent company. It did not say on Sunday why the sale was expected to be only 20 percent."
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