Gulf Equity Investors Regained $15 Billion

Of more than $28 billion lost on June bourses, Gulf Equity Investors have recovered nearly $15 billion of its total lost this July. The trend is expected to continue for the next coming month.

The UAE's two bourses of Abu Dhabi and Dubai recovered more than $6bn, while Saudi Arabia's Tadawul exchange regained around $8bn.

Kuwait's bourse remained almost unchanged while Qatar grew by around $1bn. There was also slight growth in the bourses of Oman and Bahrain.

The report by the AMF, which tracks daily share dealing in the Arab world's 16 formal exchanges, showed the combined market capitalisation of the seven GCC bourses surged to $1.156 trillion on July 2 from $1.141trn at the end of June.

The increase followed a drop in the capitalisation of around $29bn through the month and almost the entire loss was recorded in the second half.
more.,...

Dubai Islamic Bank Leads the Decline of UAE Shares

UAE Shares have decline in its earlier trading led by the Dubai Islamic Bank. The financial sector in UAE has contributed the slight decline in UAE stocks.

Dubai Islamic Bank, slid 4.6 per cent to Dh8.37, the lowest since October. Emirates NBD PJSC, the largest bank in the UAE., fell 2.9 per cent to Dh11.75.

The Dubai public prosecution is investigating former employees of Dubai Islamic Bank over fraud allegations, which led to the arrest of JPMorgan Chase & Co.'s local chief. This may tighten bank regulations, officials said yesterday.

more...

Abu Dhabi's non-oil exports worth a billion dollar

United Arab Emirates, specifically Abu Dhabi has reached one billion dollar of earnings for non-oil exports alone. UAE is known for its oil-related earnings, yet, it has also showed strength on its non oil exports profits, which is a sign of its economic stability. Its an indication that the region can economically survive even with the absence of its oil-related profits.



"The report highlights the open economy in Abu Dhabi following the direction provided by Sheikh Khalifa Bin Zayed Al Nahyan, UAE president and Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces Sheikh Mohammed Bin Zayed Al Nahyan. As an organization, we are fully prepared to play a key role in increasing the Emirate's revenues by energising bi-lateral trade with our partners," said Abu Dhabi Customs Administration vice-director Saeed Ahmed Al Muhairi.
more....

Is Oil Supply Not the Real Issue?

As oil price is hitting the peak, world leaders are urging the oil-rich countries to boost its supply so to counter problems on oil. But the UAE is reiterating that supply is not the main issue on oil problems. So, what is the real issue on oil crisis?


Even the International Energy Agency, a body representing oil importers, says global inventories of crude will rise this year, an indicator that supply is actually in excess of demand.

To illustrate the fact, look no further than the waters off Iran’s oil export terminal on Kharg Island in the Gulf, where tankers containing 30 million barrels of crude are anchored, waiting for buyers.

more....

UAE, 2nd Largest Regional Stock Market,

In Arab countries, who is on the stock markets' top index is a competition among each other. It is where a country's economy can be measured.



Among the stock markets in the Middle East, UAE stock market is now on the second spot, replacing Kuwait which landed on the third.

The new post of UAE stock market as the second largest regional stock market is definitely a non-debatable issue, because of its excellent performance. As a matter of fact, the share volumes in UAE stocks are more than tripled in the first quarter of 2008 as compared with the same quarter last year.

related article....