The Dubai Financial Market General Index (DFMGI) gained for the fourth session straight, advancing by 0.80 per cent to 5,374.11 points on Tuesday, May 6. The gauge broke through the upper Bollinger band, usually signalling a trend reversal. Air Arabia was the share of the day, as the budget carrier from Sharjah closed 8.90 per cent higher at AED1.46. Earlier in the day, the airline started to fly from its new hub at Ras Al-Khaima (RAK) International Airport. “Air Arabia wasn’t recognised as a carrier in the Northern Emirates,” says its CEO, Adel Abdullah Ali. Air Arabia’s first flight from RAK International Airport took off to Jeddah today (Tuesday, May 6) at 08:25, followed by a second flight to Muscat at 10:25. Emaar shares fell for the second day, ending one per cent lower at AED10.20. Ten shares gained, while 17 declined in value.
Tuesday, May 6- 2014 @ 18:51 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.