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#Saudi index leads way among little-changed Gulf markets | Reuters

Major stock markets in the Gulf were little changed on Sunday, though financial shares bolstered the Saudi index.Financial markets globally have been buoyed over the past two weeks by U.S. drugmakers Pfizer and Moderna Inc releasing encouraging news on the effectiveness of their vaccines against the coronavirus.Saudi Arabia’s benchmark index gained 0.5%, led by a 0.3% rise for Al Rajhi Bank and 1.1% increase for Saudi Telecom Company.Dubai’s main index eased 0.1, with Emaar Malls losing 2.2% and...
Tags: Travel, Saudi Arabia, Pfizer, Abu Dhabi, Gulf, Reuters, Rupert Neil Bumfrey, Emaar Malls, Aldar Properties, Al Rajhi Bank, Moderna Inc, Saudi Telecom Company Dubai, Etisalat Qatar


MIDEAST STOCKS-Major Gulf markets rise on higher crude prices; Kuwait bucks the trend | Nasdaq

MIDEAST STOCKS-Major Gulf markets rise on higher crude prices; Kuwait bucks the trend | Nasdaq Most major Gulf markets gained on Wednesday as crude prices rose on hopes of an effective COVID-19 vaccine, while Kuwait and Qatar markets lost steam after a string of solid gains.Benchmark Brent oil rose to a more than two-month high above $45 a barrel on hopes of an effective COVID-19 vaccine and an industry report showing U.S. crude inventories fell more than expected. O/RCrude stockpiles fell by 5....
Tags: Travel, Qatar, Dubai, Abu Dhabi, Kuwait, Gulf, Reuters, Adi, Tasi, Rupert Neil Bumfrey, Emaar Malls, First Abu Dhabi Bank, Abu Dhabi Islamic Bank ADIB, Emaar Properties EMAR, BKP, Emaar Malls EMAA DU


MIDEAST STOCKS-Saudi extends gains as oil rises on vaccine cheer; Dubai, Qatar struggle | Nasdaq

MIDEAST STOCKS-Saudi extends gains as oil rises on vaccine cheer; Dubai, Qatar struggle | Nasdaq Saudi shares on Wednesday traded higher as crude prices gained on hopes of an effective COVID-19 vaccine, while Dubai and Qatar markets lost steam after two consecutive sessions of solid gains.Oil prices climbed more than 1%, after an industry report showed U.S. crude inventories dropped more than expected, while vaccine hopes continued to bolster sentiment. O/RCrude stockpiles fell by 5.1 million ba...
Tags: Travel, Qatar, Middle East, Dubai, Abu Dhabi, Kuwait, Reuters, Adi, Emaar, Tasi, Rupert Neil Bumfrey, Emaar Malls, Dubai Qatar, Al Rajhi Bank, First Abu Dhabi Bank, Abu Dhabi Islamic Bank ADIB


MIDEAST STOCKS-Gulf markets rally on vaccine optimism, oil price rise | Nasdaq

MIDEAST STOCKS-Gulf markets rally on vaccine optimism, oil price rise | Nasdaq Major Gulf markets extended gains to end higher for a second straight session on Tuesday, as the progress in the development of a coronavirus vaccine boosted hopes of a global economic recovery.Pfizer Inc PFE.N on Monday said its COVID-19 vaccine, developed with German partner BioNTech SE BNTX.O, was more than 90% effective in preventing infection.The Gulf region also benefited from a rise in oil prices on the back of...
Tags: Travel, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Tasi, Rupert Neil Bumfrey, Emaar Malls, Abu Dhabi Commercial Bank ADCB, Al Rajhi Bank, First Abu Dhabi Bank, Pfizer Inc PFE N, Emaar Properties EMAR DU, Emaar Malls EMAA, Qatar Fuel Co QFLS


#Saudi index sees biggest fall since May | Reuters

Saudi index sees biggest fall since May | ReutersSaudi Arabian shares fell sharply on Sunday in a broad sell-off, while a plunge in Commercial International Bank weighed on the Egyptian index.The kingdom’s benchmark index slid 4.1%, its biggest intraday fall since May, with Saudi Basic Industries Corp (SABIC) shedding 4.5% and oil giant Saudi Aramco losing 2.3%.SABIC, the Gulf’s largest petrochemical firm, reported a net profit of 1.09 billion riyals ($290.64 million) in the third-quarter, up fr...
Tags: Travel, Saudi Arabia, Qatar, Yemen, Gulf, Reuters, Saudi Aramco, SABIC, CIB, Abu Dhabi Commercial Bank, Rupert Neil Bumfrey, Emaar Malls, Commercial International Bank, Gulf Egypt, First Abu Dhabi Bank, Saudi Basic Industries Corp SABIC


#Dubai Financial Market rolls out equity futures platform | ZAWYA MENA Edition

Dubai Financial Market rolls out equity futures platform | ZAWYA MENA Edition:The Dubai Financial Market (DFM) on Sunday introduced equity futures trading as part of its new Futures Trading Platform.The debut platform has so far attracted 16 companies as launch partners and includes futures contracts on single stocks of some of the most liquid equities listed on DFM, including Emaar Properties, Dubai Islamic Bank, Emirates NBD, Emaar Development and Emaar Malls, with tenures of one, two and thre...
Tags: Travel, Essa Kazim, Dubai Financial Market DFM, Dubai Financial Market, Rupert Neil Bumfrey, Emaar Malls, DFM, Kazim


Mideast Stocks - Major Gulf markets gain in early trade | ZAWYA MENA Edition

Mideast Stocks - Major Gulf markets gain in early trade | ZAWYA MENA Edition:Major stock markets in the Gulf rose in early trade on Sunday, with financial shares bolstering the Saudi index.The kingdom's benchmark index gained 0.3%, with Samba Financial Group rising 0.9%, while Al Rajhi Bank was up 0.2%.Elsewhere, Najran Cement jumped 6.7%, extending gains from the previous session when the cement producer proposed first-half dividend of 0.75 riyal per share. Dubai's main share index added 0.3%, ...
Tags: Travel, Dubai, Abu Dhabi, Reuters, Schlumberger, AlixPartners, Rupert Neil Bumfrey, Emaar Malls, Samba Financial Group, Al Rajhi Bank, Qatar Navigation, Qatar Insurance, Mideast Stocks Major Gulf, Elsewhere Najran Cement, Emaar Properties Arabtec Holding, First Abu Dhabi Bank In Qatar


Mideast Stocks: #Saudi leads Gulf markets higher; Egypt retreats | ZAWYA MENA Edition

:Most Gulf bourses ended higher on Tuesday, with Saudi Arabia outperforming in the region on the back of banking shares, while the Egyptian index was hit by blue-chip sell-off.Saudi Arabia's benchmark index advanced 1.2%, buoyed by a 1.5% gain in oil giant Saudi Aramco and a 4.6% leap in Riyad Bank .The kingdom's consumer price index jumped 6.1% in July compared with last year, boosted by a tripling of value-added tax, official data showed on Sunday.Dubai's main share index rose 0.8%, extending ...
Tags: Travel, Saudi Arabia, Egypt, Dubai, Gulf, Saudi Aramco, Riyad Bank, Emaar Properties, Rupert Neil Bumfrey, Dubai Islamic Bank, Emaar Malls, Arabtec Holding


MIDEAST STOCKS-Property shares weigh on #Dubai as major Gulf markets ease - Reuters

MIDEAST STOCKS-Property shares weigh on Dubai as major Gulf markets ease - Reuters:Most major stock markets in the Gulf were subdued in early trade on Tuesday, as the Dubai index was hit by losses in real state shares.Saudi Arabia’s benchmark index slipped 0.1%, weighed by petrochemical maker Saudi Basic Industries, which fell 0.6%, and Al Rajhi Bank, which slipped 0.2%.Dubai’s main share index retreated 0.6%, pressured by a 1.4% fall in Emaar Malls and a 2.4% drop in DAMAC Properties.Property p...
Tags: Travel, Saudi Arabia, Dubai, Gulf, Reuters, Rupert Neil Bumfrey, Saudi Basic Industries, Emaar Malls, Al Rajhi Bank, Arabtec Holding


Emaar Malls reveals 69% drop in profits for H1 2020 - Arabianbusiness

Emaar Malls reveals 69% drop in profits for H1 2020 - Arabianbusiness:Dubai-based Emaar Malls, the retail unit majority-owned by Emaar Properties, has reported a net profit of $94 million for the first six months of the year – down 69 percent on the same period last year ($308m), as the company battled against the economic impacts of the global Covid-19 pandemic.Revenue also slipped 30 percent to $451m for first half of 2020 compared to $606m in the corresponding period last year.Emaar’s Mohamed...
Tags: Travel, Dubai, Dubai Mall, Emaar Properties, Emaar, Rupert Neil Bumfrey, Emaar Malls, Mohamed Alabbar, Alabbar


MIDEAST DEBT-Real estate giant's downgrade may increase #Dubai financing cost - Reuters

MIDEAST DEBT-Real estate giant's downgrade may increase Dubai financing cost - Reuters:A downgrade last week of Dubai’s flagship real estate company will likely push up the emirate’s borrowing costs if it decides to refinance $750 million in bonds due in October, bankers and analysts said.The credit ratings of government-related entities are often seen by investors as a proxy for Dubai, which is not rated by any of the major ratings agencies.S&P Global Ratings downgraded Emaar Properties, builde...
Tags: Travel, Middle East, Dubai, Burj Khalifa, Reuters, Dubai International Financial Centre, Emaar Properties, Rupert Neil Bumfrey, Emaar Malls, DIFC Investments


S&P Sees Tough Years for #Dubai Property, 11% GDP Crunch on Covid - Bloomberg

S&P Sees Tough Years for Dubai Property, 11% GDP Crunch on Covid - Bloomberg:Dubai’s economy will likely suffer a “significant shock” this year as the coronavirus pandemic and its consequences weigh on most sectors in the Middle East’s business hub, according to S&P Global Ratings.S&P also stripped the city’s best-known real-estate developer of its investment-grade credit rating. Gross domestic product in the emirate will shrink about 11% this year, and will only recover to last year’s nominal g...
Tags: Travel, Middle East, Dubai, Emaar Properties, Rupert Neil Bumfrey, Emaar Malls, Timucin Engin, Covid Bloomberg, DIFC Investments Ltd


MIDEAST STOCKS-Major Gulf stock markets get off to a weak start - Reuters

MIDEAST STOCKS-Major Gulf stock markets get off to a weak start - Reuters:Major stock markets in the Gulf were subdued in early trade on Wednesday, with banking and real estate shares weighing on indexes in the United Arab Emirates.The benchmark index in Saudi Arabia, which has the highest number of cases in the six-nation Gulf Cooperation Council, eased 0.1%. Petrochemical firm Saudi Basic Industries fell 0.3%, while oil behemoth Saudi Aramco edged down 0.2%.The kingdom is pressing on with plan...
Tags: Travel, Saudi Arabia, United Arab Emirates, Dubai, Gulf, Reuters, Saudi Aramco, Gulf Cooperation Council, Emaar Properties, Rupert Neil Bumfrey, Saudi Basic Industries, Emaar Malls


MIDEAST STOCKS-Property stocks weigh on #Dubai; #Saudi up on banks - Agricultural Commodities - Reuters

MIDEAST STOCKS-Property stocks weigh on Dubai; Saudi up on banks - Agricultural Commodities - Reuters:Dubai’s stock market was on course to snap six sessions of gains on Tuesday, pressured by losses in real estate shares, while the Saudi index gained on the back of a rally in banks.Dubai’s main share index retreated 1.4%, weighed down by a 2.4% fall in blue-chip developer Emaar Properties and a 1.4% drop in Emaar Malls.Mall operators in the Gulf region are delaying new mega-projects as the COVID...
Tags: Travel, Dubai, Gulf, Dubai Mall, Emaar Properties, Rupert Neil Bumfrey, Emaar Malls, Agricultural Commodities Reuters, Emaar Malls Mall


Gulf mall operators rein in expansion as retailers reel from COVID-19 - Reuters

Gulf mall operators rein in expansion as retailers reel from COVID-19 - Reuters:Mall operators in the Gulf region are delaying new mega-projects as the coronavirus pandemic and low oil prices upend a retail industry built around huge centres catering to tourists and wealthy locals. Majid Al Futtaim (MAF), the Middle East’s biggest mall-operator, told Reuters it had delayed the launch of its fifth and largest centre in Oman, the 145,000 square-metre (1.5 million sq-ft) Mall of Oman, because retai...
Tags: Travel, Middle East, Dubai, Oman, Gulf, Reuters, Majid Al Futtaim, Dubai Mall, Rupert Neil Bumfrey, Emaar Malls, Dubai Hills, COVID, Emaar Malls EMAA


MIDEAST STOCKS-Most Gulf markets rise, tracking oil, Asian shares - Agricultural Commodities - Reuters

MIDEAST STOCKS-Most Gulf markets rise, tracking oil, Asian shares - Agricultural Commodities - Reuters:Most stock markets in the Middle Eastclosed higher on Tuesday, buoyed by gains in Brent oil pricesand Asian, as optimism about the easing of coronavirus-relatedrestrictions reassured markets.Brent crude rose 41 cents, or 2%, to $20.40 a barrelat 1006 GMT, following a 6.8% slide on Monday.Saudi Arabia's benchmark index gained 0.8%, with AlRajhi Bank rising and Saudi British Bankgaining 5.3%.But ...
Tags: Travel, Saudi Arabia, United Arab Emirates, Dubai, Spa, Salman, Emaar Properties, Rupert Neil Bumfrey, Emaar Malls, PetroRabigh, First Abu Dhabi Bank, Agricultural Commodities Reuters, AlRajhi Bank, Qatar Gas Transport Company, Middle Eastclosed, Bankgaining


MIDEAST STOCKS-Oil recovery, corporate earnings lift most of Gulf - Agricultural Commodities - Reuters

MIDEAST STOCKS-Oil recovery, corporate earnings lift most of Gulf - Agricultural Commodities - Reuters:Most stock markets in the Middle East ended higher on Thursday, buoyed by a recovery in oil prices from historic lows and a slew of better-than expected first-quarter earnings. Brent crude was up $1.55, or 7.61%, at $21.92 a barrel by 1200 GMT, a day after it touched $15.98 a barrel, its lowest since June 1999. Saudi Arabia's benchmark index rose 1%. Oil giant Saudi Aramco gained 1% and Dr Sul...
Tags: Travel, Saudi Arabia, Qatar, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Saudi Aramco, Doha Bank, Rupert Neil Bumfrey, Emaar Malls, Masraf Al Rayan, First Abu Dhabi Bank, Saudi British Bank SABB, Vodafone Qatar, Gulf Agricultural Commodities Reuters


MIDEAST STOCKS-Major Gulf markets gain on oil recovery, strong earnings - Agricultural Commodities - Reuters

MIDEAST STOCKS-Major Gulf markets gain on oil recovery, strong earnings - Agricultural Commodities - Reuters:Major bourses in the Gulf gained on Thursday after crude prices recovered from historic lows and a few high-profile companies in the region posted better-than-expected first-quarter earnings.Oil surged amid signs that producers are cutting production to weather a collapse in demand as the coronavirus outbreak ravages world economies, while the U.S. state of Oklahoma also moved to help oil...
Tags: Travel, Saudi Arabia, United Arab Emirates, Dubai, Oklahoma, Abu Dhabi, Gulf, Emaar Properties, Qatar National Bank, Rupert Neil Bumfrey, Saudi Basic Industries, Emaar Malls, Al Rajhi Bank, Agricultural Commodities Reuters, Umm Al Qura Cement, Emirates Integrated Telecommunication


#Dubai Property Prices, Middle East Coronaviru News: Latest Update - Bloomberg

Dubai Property Prices, Middle East Coronaviru News: Latest Update - Bloomberg: Residential properties stand in the Al Satwa area of Dubai.   Photographer: Christopher Pike/Bloomberg The widening coronavirus pandemic could see Dubai property prices falling to levels last seen 10 years ago, according to S&P Global Ratings.“We believe real estate prices are approaching levels seen at the bottom of the last cycle in 2010, and are even lower on an inflation-adjusted basis an...
Tags: Travel, Bloomberg, Dubai, Emaar Properties, Rupert Neil Bumfrey, Damac, Emaar Malls, Dubai Property Prices Middle East Coronaviru News, Al Satwa, Damac Real Estate, Unlisted DIFC Investments


S&P Sees #Dubai Property Prices Dropping to Levels Seen in 2010 - Bloomberg

Dubai Property Prices, Middle East Coronaviru News: Latest Update - Bloomberg: Residential properties stand in the Al Satwa area of Dubai.   Photographer: Christopher Pike/Bloomberg The widening coronavirus pandemic could see Dubai property prices falling to levels last seen 10 years ago, according to S&P Global Ratings.“We believe real estate prices are approaching levels seen at the bottom of the last cycle in 2010, and are even lower on an inflation-adjusted basis an...
Tags: Travel, Bloomberg, Dubai, Emaar Properties, Rupert Neil Bumfrey, Damac, Emaar Malls, Dubai Property Prices Middle East Coronaviru News, Al Satwa, Damac Real Estate, Unlisted DIFC Investments


UPDATE 1-S&P cuts DAMAC's rating, puts Emaar Properties, Emaar Malls on creditwatch - Reuters

UPDATE 1-S&P cuts DAMAC's rating, puts Emaar Properties, Emaar Malls on creditwatch - Reuters:S&P Global Ratings has downgraded Dubai’s DAMAC Properties to B from B+ and placed the BBB-(minus) ratings of Emaar Properties and Emaar Malls on creditwatch with negative implications, the ratings agency said in a statement.It also lowered its outlook on DIFC Investments, a unit of the company running Dubai’s financial free zone, to ‘negative’ from ‘stable’.S&P cited economic pressures from the coronav...
Tags: Travel, Dubai, Reuters, Emaar Properties, Rupert Neil Bumfrey, Damac, Emaar Malls, Emaar Properties Emaar Malls, DIFC Investments


Mideast Stocks: Most major Gulf stocks decline, but banks boost #Saudi | ZAWYA MENA Edition

Mideast Stocks: Most major Gulf stocks decline, but banks boost Saudi | ZAWYA MENA Edition:Most major Gulf shares lost steam on Thursday, ending a two-day rally triggered by the giant $2 trillion stimulus package in the United States to mitigate the economic blow from the fast-spreading coronavirus pandemic.In Abu Dhabi, the index sank 3.8%, with the country's largest lender First Abu Dhabi Bank (FAB) and telecoms firm Etisalat dropping 5% and 4.9%, respectively.Dubai's main share index slipped ...
Tags: Travel, United States, Dubai, Abu Dhabi, Uae, Gulf, Mideast, United Arab Emirates UAE, Etisalat, Qatar National Bank, Qatar Islamic Bank, Rupert Neil Bumfrey, Dubai Islamic Bank, Emaar Malls, First Abu Dhabi Bank FAB


MIDEAST STOCKS-Most major Gulf markets dampened by disappointing earnings - Reuters

MIDEAST STOCKS-Most major Gulf markets dampened by disappointing earnings - Reuters:Most major Gulf markets were subdued on Thursday, digesting disappointing earnings at major companies.The Dubai index slipped 0.2% with its largest listed developer Emaar Properties losing 1%, while its unit Emaar Malls was down 1.7%.Emaar Properties posted a 1.7% fall in fourth-quarter profit to 1.76 billion dirhams on Wednesday, compared to 1.79 billion dirhams year ago.Dubai is expected to see the biggest numb...
Tags: Travel, Dubai, Gulf, Reuters, Emaar Properties, Knight Frank, Rupert Neil Bumfrey, Emaar Malls


Emaar Malls set for 2020 opening of #Dubai Hills Mall, Time Out Market | ZAWYA MENA Edition

Emaar Malls set for 2020 opening of Dubai Hills Mall, Time Out Market | ZAWYA MENA Edition:Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, is set to open Dubai Hills Mall in Dubai Hills Estate in Q4 2020.The 2 million square foot retail establishment will feature nearly 550 retail and entertainment destinations including four major family entertainment and leisure centres along with a cineplex, hypermarket, seven anchor retail experience stores, and over 7...
Tags: Travel, Emaar Properties, Emaar, Rupert Neil Bumfrey, Emaar Malls, Dubai Hills Mall, Dubai Hills Estate


MIDEAST STOCKS-Gulf markets edge up while Egypt extends losses - Reuters

MIDEAST STOCKS-Gulf markets edge up while Egypt extends losses - Reuters:Bank stocks helped support markets in theUnited Arab Emirates on Wednesday, while Egypt's blue-chip indexextended losses for a third straight session.Dubai's index edged up 0.1% supported by EmiratesNBD and Emaar Malls, which were up 0.4% and1.6% respectively.Air Arabia closed up 1.4%, stretching its winningstreak to a third day. On Monday, the budget airline announcedan order for 120 Airbus A320neo-family jets in a deal wo...
Tags: Travel, Egypt, Dubai, Bank, Gulf, Reuters, Air Arabia, Rupert Neil Bumfrey, Emaar Malls, Arabtec Holding


MIDEAST STOCKS-Uber-Careem deal boosts #Saudi, real estate hurts #Dubai | Reuters

MIDEAST STOCKS-Uber-Careem deal boosts Saudi, real estate hurts Dubai | Reuters:Saudi shares rose on Tuesday boosted by a 10 percent surge in travel operator Al Tayyar Group, a shareholder in ride hailing app Careem which Uber has agreed to buy.Tayyar said it was expecting to make a gross profit of 1.78 billion riyals ($474.64 million) from the transaction, supporting a 0.1 percent gain in the Saudi index.Dubai's index fell 0.7 percent, weighed down by declines across its real estate stocks. Dub...
Tags: Travel, Dubai, Reuters, Emaar Properties, Rupert Neil Bumfrey, Emaar Malls, Al Tayyar Group, Tayyar


MIDEAST STOCKS-Real estate hurts #Dubai, ex-dividend stocks weigh on #Qatar | Reuters

MIDEAST STOCKS-Real estate hurts Dubai, ex-dividend stocks weigh on Qatar | Reuters:Dubai’s stock market dropped on Thursday, weighed down by its property shares, while Qatar slipped as its heavyweight stocks traded ex-dividend.In Dubai, the index fell 0.7 percent after four straight days of gains, with blue-chip developer Emaar Properties decreasing 1.7 percent. Its board proposed a full-year dividend of 15 fils a share.Emaar’s unit Emaar Malls fell 2.3 percent after declaring an unchanged full...
Tags: Travel, Qatar, Dubai, Reuters, Emaar Properties, Emaar, Rupert Neil Bumfrey, Emaar Malls


MIDEAST STOCKS-Real estate pressures #Dubai, most Gulf markets drop | Reuters

MIDEAST STOCKS-Real estate pressures Dubai, most Gulf markets drop | Reuters:Dubai's stock market slid on Thursday, pulled lower by property and financial stocks, while most major Gulf bourses also fell.The Dubai index fell 1.5 percent, with lender Emirates NBD down 4.2 percent and Emaar Development 4.7 percent lower.Emaar Malls slid 3.9 percent. On Monday, it bought 49 percent of e-commerce fashion website Namshi from Global Fashion Group for 475.5 million dirhams ($129.47 million). [Author:...
Tags: Travel, Dubai, Gulf, Reuters, Emirates NBD, Global Fashion Group, Rupert Neil Bumfrey, Emaar Malls, Emaar Development


Mideast Stocks: Emirates NBD weighs on #Dubai, banks lift #Qatar | ZAWYA MENA Edition

Mideast Stocks: Emirates NBD weighs on Dubai, banks lift Qatar | ZAWYA MENA Edition:Dubai's stock market fell on Thursday as lender Emirates NBD and real estate stocks slipped, while Qatar was lifted by its banks.The Dubai index was down 1.1 percent, with Emirates NBD sliding 4.4 percent. The bank's shares have seen a sell-off in recent sessions.Property shares also fell, with Emaar Properties shedding 0.8 percent and its unit Emaar Malls losing 2.2 percent. [Author: [email protected] (Rupe...
Tags: Travel, Qatar, Dubai, Emirates NBD, Emaar Properties, Rupert Neil Bumfrey, Emaar Malls


MIDEAST STOCKS- #Dubai's property stocks drop, most Gulf markets slide | Reuters

MIDEAST STOCKS-Dubai's property stocks drop, most Gulf markets slide | Reuters:Dubai’s stock market fell in early trading on Wednesday, a day after reaching a three-month high, as all its property shares declined.Most major Gulf markets slid. The Dubai index dipped 0.4 percent, with Emaar Properties losing 0.8 percent and its retail arm, Emaar Malls, falling 2.2 percent.Emaar Malls bought the 49 percent of e-commerce fashion website Namshi it did not own from Global Fashion Group for 475.5 milli...
Tags: Travel, Dubai, Gulf, Reuters, Emaar Properties, Global Fashion Group, Rupert Neil Bumfrey, Emaar Malls