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Dubai market cheers DIB’s opening for foreign investors

: Wednesday, April 16 - 2014 @ 18:55

The Dubai Financial Market General Index (DFMGI) finished a rollercoaster trading session 0.90 per cent higher at 4,728.38 points on Wednesday, April 16. Dubai Islamic Bank (DIB) was the share of the day, which gained 2.60 per cent, reaching AED6.31. Earlier in the day, the oldest Islamic bank (founded in 1975) in the Gulf Arab region said it raised its foreign ownership limit (FOL) to 25 per cent, following similar moves done by Islamic developer Deyaar and Dubai Investments (the latter raised the FOL to 35 per cent). Kuwait-based International Financial Advisors lost the most, ending off by 3.16 per cent at AED0.92. Emaar Properties rose by 0.50 per cent to AED10.25. Trading volumes dived to a multi-month low as 366 million shares were traded, valued at AED1.05 billion.


Gérard Al-Fil

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Wednesday, April 16- 2014 @ 18:55 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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