Abu Dhabi market loses for the fourth session straight
The Abu Dhabi Securities Exchange General Index (ADXGI) lost 1.23 per cent to close at 4,769.58 points on Tuesday, March 11. Market bellwether Etisalat lost 0.42 per cent to reach AED11.95, representing a two-week low. Abu Dhabi Islamic Bank (ADIB) added 0.50 per cent, ending at AED8.00. Earlier in the day, ADIB revealed that it has started to offer ‘low-risk investment opportunities’ in smartphone manufacturing. “ADIB is launching an investment note that guarantees that 100 per cent of the invested capital is returned to investors. The note would benefit from the growth of smartphone manufacturers, including Apple Inc, Lenovo Group, LG Electronics and Samsung Electronics. “Smartphone sales surpassed one billion units in 2013 for the first time and are forecasted to grow by 20 per cent this year,” adds ADIB, quoting a study conducted by IDC.