Abu Dhabi Islamic Bank PJSC , the United Arab Emirates’ second-biggest bank complying with Islamic banking rules, said it has updated its Islamic bond or sukuk program and has no immediate plans to sell bonds.
Barclays Plc agreed to sell its retail banking business in the United Arab Emirates to Abu Dhabi Islamic Bank PJSC for 650 million dirhams ($177 million) as the U.K.’s second-biggest lender by assets shrinks its business.
Dubai’s DFM General Index fell 0.3 percent to 1,351.09 at the 2 p.m. close in the emirate, the lowest since June 2004. The gauge has slumped 17 percent this year. Abu Dhabi’s ADX General Index declined 0.4 percent.