MIDEAST STOCKS-GFH jumps in Dubai, zakat worries weigh on Saudi banks again:
"A leap by shares in GFH Financial enlivened an otherwise dull Dubai stock market on Monday, while bank stocks dragged on Saudi Arabia’s index for a second straight day because of concern about their Islamic tax liabilities.
The Dubai index was flat but GFH climbed 6.6 percent and accounted for over a third of market volume after saying Jassim Alseddiqi, chief executive of Abu Dhabi Financial Group (ADFG), had been elected chairman of its board.
The company did not explain the development but it could point to closer cooperation between GFH and ADFG, which owns nearly half of Shuaa Capital, whose shares gained 1.8 percent. GFH and Shuaa held merger discussions last year but the talks were called off in June."
'via Blog this'
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