The Dubai Financial Market General Index (DFMGI) remained in a stutter mode, as the gauge fell by 1.52 per cent to 5,072.92 points on Tuesday, June 3. Emaar, as the most liquid share, plummeted by 3.37 per cent to AED10.05. District cooling specialist National Central Cooling Company, better known as Tabreed, jumped 6.44 per cent to reach AED2.15. Earlier in the day, Tabreed announced the renewal of its master services agreement (MSA) with the United Arab Emirates Armed Forces (UAEAF). The new contract is valued at AED6 billion ($1.63bn).
Under the new agreement, which builds upon the MSA signed between the two entities in 2000, Tabreed will continue to supply the UAEAF existing and prospective facilities with district cooling services for the next 20 years. Additionally, new projects are currently under discussion between Tabreed and the UAEAF.
Tuesday, June 3- 2014 @ 19:15 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.