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Dubai developers, financials hit roadblocks

: Sunday, August 17 - 2014 @ 16:29

The Dubai Financial Market General Index (DFMGI) fell by 0.50 per cent to close at 4,789.95 points on Sunday, August 17. Like the market gauge, Arabtec, Emaar and Union Properties lost 0.50 per cent.

Deyaar Development gained despite the sluggish trend on Sunday, ending 0.81 per cent higher at AED1.25. DFM, the only listed Arab bourse, lost 1.50 per cent to hit AED3.30. Emirates NBD, the biggest UAE bank, slipped 0.31 per cent to AED3.30.

At the NASDAQ Dubai, DP World dived 3.56 per cent to $20.05. The third biggest commercial ports operator by assets said earlier in the day it will publish semi-annual financial results on Thursday, August 28.

Gulf General Investments Company or GGICO declined by 0.84 per cent to AED1.18. Earlier in the day, GGICO said its net income in the first six months of 2014 fell by seven per cent to AED54.219million ($14.78m).

Gérard Al-Fil

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Sunday, August 17- 2014 @ 16:29 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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