The spectacular rise and fall of Arabtec, Dubai's most heavily traded stock, teaches hard lessons about how risky the region remains for investors even as its rapid economic growth lures billions of dollars in fresh funds from abroad.
World shares slumped to a near four-month low on Tuesday as signs the US economy was stuttering compounded already frayed nerves following a sharp sell-off in emerging markets.
A weaker-than-expected report on US factory activity
Saudi shares closed lower on Saturday on petrochemical losses despite rising oil prices. Brent crude futures closed at $123.43 a barrel on Thursday before holidays began in major markets.
The all-share closed 0.4 per cent lower at 7862.5 p
Spot gold rose more than 1 percent on Thursday, recovering from its biggest fall in more than three years in the previous session.
Prices moved up rapidly after the Shanghai Gold Exchange started trading, as investors took advantage of a d
The value of initial public offerings (IPOs) in the Middle East plunged 51.67 per cent to $374.77 million in the second quarter this year from $775.40 million during the same period in 2010, according to a report by Ernst &
House prices in Dubai and Abu Dhabi are set to fall a further 10 per cent and 13 per cent in 2010 respectively, as residential supply expands in both markets, a Reuters poll showed on Thursday.
Dubai's once-booming property market has
Dubai's index slumped to a 14-month closing low as worries over the financial health of Dubai Holding and Friday's global equity sell-off pushed investors to the exit.
'There are jitters about Dubai Holding rolling over some of
Regulators still have not been able to pinpoint the cause of the market's recent plunge, but charged ahead with new rules to restrict trading when markets are in free-fall.
Nearly two weeks after the Dow Jones industrial average dropped so
Banque Saudi Fransi said on Sunday its fourth-quarter net profit fell by a worse-than-expected 43.3 per cent after it booked provisions to support its finances.
The affiliate of French Credit Agricole made SR324 million ($86.4 million) in
Kingdom Holding Company, chaired by Saudi Prince Alwaleed bin Talal, on Tuesday posted an 82.8-per cent drop in the net profit for the three months to June 30.
The company's net profit plunged to SR92.1 million ($24.6 million) fro