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MIDEAST STOCKS #Dubai bourse extends losses as Egypt outperforms | Reuters

MIDEAST STOCKS Dubai bourse extends losses as Egypt outperforms | Reuters Dubai's stock market ended lower on Tuesday, extending losses for a second consecutive session, while investors in Egypt were optimistic about the central bank keeping interest rates on hold.Dubai's main share index (.DFMGI) fell 0.3%, with sharia-compliant lender Dubai Islamic Bank (DISB.DU) losing 1.2%, whereas Emirates NBD Bank (ENBD.DU) closed 0.4% lower.The emirate's bourse continues its price correction weighed...
Tags: Travel, Saudi Arabia, Egypt, Dubai, Abu Dhabi, Uae, Reuters, U S Federal Reserve, Saudi Basic Industries Corp, Riyad Bank, Tasi, Rupert Neil Bumfrey, QSI, Reuters Dubai, Aldar Properties, Aldar


#UAE's Aldar and ADQ seek to buy control of Egypt's SODIC | Reuters

UAE's Aldar and ADQ seek to buy control of Egypt's SODIC | Reuters The UAE's Aldar Properties and ADQ have submitted a request to Egypt's Financial Regulatory Authority (FRA) to acquire up to 90% of Egyptian property developer SODIC (OCDI.CA), they said on Tuesday.The mandatory tender offer of 20 Egyptian pounds per share would value SODIC at $453 million, said the companies, which are seeking a minimum of 51% of SODIC.Aldar accounts for 70% of the consortium while ADQ, a state-backed holding ...
Tags: Travel, Egypt, Uae, Reuters, FRA, Rupert Neil Bumfrey, Aldar Properties, Aldar, SODIC, ADQ, Financial Regulatory Authority FRA, SODIC Aldar


MIDEAST STOCKS-Egypt surges on property merger talks, Trump tweet hits Saudi

MIDEAST STOCKS-Egypt surges on property merger talks, Trump tweet hits Saudi:"Egyptian real estate stocks surged on Wednesday after two big companies in the sector said they might merge, while Saudi Arabia fell sharply after U.S. President Donald Trump threatened imminent military action in Syria.In Egypt, the stock index gained 1.4 percent as SODIC jumped 5.5 percent to a 10-year closing high and Madinet Nasr for Housing and Development added 7.4 percent to a record high, although both stocks e...
Tags: Travel, Saudi Arabia, Syria, Egypt, Donald Trump, Trump, EFG Hermes, Rupert Neil Bumfrey, SODIC, Madinet Nasr for Housing and Development, Madinet Nasr



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