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Buoyant Dubai market gains as Emaar slips

: Monday, April 21 - 2014 @ 17:52

The Dubai Financial Market General Index (DFMGI) gained 1.70 per cent to close at 4,843.35 points on Sunday, April 20. Market breadth was slightly negative as 14 shares advanced, while 15 declined in value.

Emaar fell by 0.50 per cent to AED10.20. Arabtec advanced by 3.43 per cent to AED7.23. Earlier in the day, the Middle East region’s first construction firm said it appointed Paolo Bigi as chief operating officer for its oil and gas division. He will report to Arabtec managing director and CEO Hasan Ismaik. Bigi has 25 years of experience in the oil, gas, petrochemical and power sector and served from 2009 to 2013 as CEO of Techint Engineering and Construction. Deyaar Development surged by 3.77 per cent to hit AED1.65. Earlier in the day, the Islamic developer announced the launch of a premium hotel apartments tower at ‘The Atria’, a 1.25 million square foot luxury, mixed-use twin tower complex, located at Dubai’s Business Bay.

Gérard Al-Fil

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Monday, April 21- 2014 @ 17:52 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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