MIDEAST STOCKS-Gulf little changed, DSI surges in Dubai after loss | ZAWYA MENA Edition:
"Gulf stock markets were little changed in early trade on Wednesday although builder Drake & Scull surged in Dubai despite reporting a big third-quarter loss. Before the opening, the Saudi Arabian Capital Market Authority issued a statement saying listed companies would be exempt from publishing fourth-quarter financial statements because firms were transitioning to the International Financial Reporting Standards style of accounting. This surprised many fund managers, but the Arabic version of the statement said the exemption applied to "preliminary" financial statements, which seemed to imply that companies would still have to release final statements at a later date. "
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