Sunday 10 June 2018

MIDEAST STOCKS-Dubai lifted by new incentives, Qatar hurt by Commercial Bank | Reuters

MIDEAST STOCKS-Dubai lifted by new incentives, Qatar hurt by Commercial Bank | Reuters:

"Banking and property shares helped drive up Dubai’s stock market on Sunday, while the Qatari index fell on news that Commercial Bank’s talks to sell its stake in United Arab Bank (UAB) to a UAE investor had failed. Dubai’s benchmark index closed up 0.4 percent after the government announced over the weekend additional measures to boost the economy. Dubai Islamic Bank rose 1.2 percent after it said its 5.1 billion dirhams rights issue was nearly three times oversubscribed, and builder Arabtec surged 5.9 percent after gaining 4.3 percent on Thursday."



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