Dubai Financial Market News
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Amlak Finance PJSC, the Islamic mortgage provider restructuring more than $2 billion of loans, proposed to extend the maturity of the debt by 15 years and reduce the amount by 30 percent, two people familiar with the matter said.
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Air Arabia PJSC, the Middle East’s biggest budget airline, said it plans to raise $400 million to $450 million in bank loans to finance aircraft purchases.
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Emaar Properties PJSC, Dubai’s biggest developer by market value, said first-quarter earnings dropped 8 percent, in line with analyst estimates as rising costs wiped out a 16 percent increase in revenue.
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Dubai shares climbed to the highest in more than three years on bets economic growth in the emirate will accelerate, pushing its credit risk lower.
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Dubai’s shares rose to the highest level in more than three years, spurred by investor bets on first-quarter results from banks and telecommunication companies.
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Dubai Financial Market PJSC, the only publicly traded Gulf Arab bourse, said it returned to profit in 2012 as trading volume in the Persian Gulf business hub rebounded and the measure rallied the most in the region.
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Dubai Financial Market PJSC , the only Gulf Arab stock market to sell shares to the public, said second-quarter profit dropped 80 percent from a year earlier as trading volumes plunged.
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Dubai Financial Market PJSC , the only Gulf Arab stock market to sell shares to the public, had a 96 percent plunge in first-quarter profit as trading volumes declined amid political unrest in the Middle East.
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Dubai Financial Market PJSC, the only publicly traded Gulf Arab stock market, said its third-quarter loss narrowed after revenue advanced and costs dropped.
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The iShares MSCI Emerging Markets Index exchange-traded fund climbed for the first time in three days as a rally in Russian equities overshadowed declines in Chinese and Brazilian stocks.
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