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203 stories mentioning FTSE ADX General IndexUpdated 12h ago

Abu Dhabi equities trade amid optimism over a US-Iran peace deal to reopen the Strait of Hormuz, while Adnoc launched a third crude tender.

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Equities

IEA Lowers Global Oil Demand Forecast for 2026 Amid Renewed US-Iran Hostilities

The International Energy Agency expects global oil demand to fall more than previously anticipated in 2026, as maritime and supply chain disruptions caused by renewed hostilities between the US and Iran undermined recovery efforts.In its August oil market report published Wednesday, the IEA said global oil demand is now projected to decline by 1.6 million barrels per day on average in 2026, 510,000 barrels per day higher than its forecast a month ago, as fuel prices remained elevated due to the continued closure of the Strait of Hormuz after the interim ceasefire deal collapsed mid-June. Demand is anticipated to see growth in the final quarter of 2026, then expand by 2.4 million barrels per day in 2027.Meanwhile, global supply is now forecast to drop by an average of 4.3 million barrels of oil per day in 2026, to 102 million barrels per day, before rebounding by 8.3 million barrels per day to 110.3 million barrels per day in the next year."Although the market is projected to return to surplus towards the end of this year, risks remain substantial and the urgency of reopening the Strait has increased, as previously available inventory buffers are rapidly depleting," the IEA noted.

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Equities

Market Chatter: UAE's Adnoc Offers to Transport Iraqi Crude Through Strait of Hormuz

Abu Dhabi National Oil Co., d/b/a Adnoc, has been offering to transport Iraqi crude through the Strait of Hormuz via a so-called dark-transit shuttling method, Bloomberg News reported Wednesday, citing people familiar with the matter.The method involves vessels making short trips with their transponders turned off to transport oil outside the Persian Gulf to other ships, according to the report. The Emirati oil giant has provided spot cargos to Asian buyers of crude from other Middle Eastern producers, the news outlet noted.When reached for a comment by, Adnoc said it does not comment on commercial matters.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia Markets

Emirati Indices Close Lower as US-Iran Hormuz Deal Optimism Fades

Stock trading in the United Arab Emirates ended in the red again on Tuesday as optimism for a US-Iran deal to reopen the Strait of Hormuz dimmed, sparking concerns of prolonged supply disruptions.At the close of trading, the FTSE ADX General Index shed 0.763%, while the DFM General Index lost 0.359%.US President Donald Trump said in a post on the Truth Social platform that he is demanding Iran pay compensation for people killed in war and protests and that the condition would be put "firmly" into all future negotiations. Trump's statement came after Iran asked the US for war damages to reopen the Hormuz waterway."By this point, you'd think markets would be largely immune to headlines about a US-Iran deal. The pattern keeps repeating - initial enthusiasm when negotiations appear promising, only for that optimism to dissipate just as quickly. Yet the oil market remains very headline-driven, which leaves prices whipsawing," ING said. "Current rhetoric suggests any potential deal is still some way off, meaning risks remain skewed to the upside for oil prices."Back home and on the corporate front, Adnoc Logistics & Services (ADX:ADNOCLS) gained 3.61% and was the Abu Dhabi bourse's most traded stock by value at closing. The energy maritime logistics company reported a higher first-half attributable profit of $1.12 billion, driven by strong growth in its shipping segment and improved operating leverage.Over in Dubai, National Central Cooling (DFM:TABREED), d/b/a Tabreed's, attributable profit for the first six months declined due to higher financing costs and additional interest expenses related to acquisition-related debt. Its shares closed the season 0.41% lower.On the economic calendar is the release of the July consumer price index report on Wednesday. The data, released by the US Bureau of Labor Statistics, provide investors with insights into the US Federal Reserve's next interest rate move.

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International

KOF Global Barometers Diverge in August

The KOF Swiss Economic Institute's global economic barometers diverged in August 2026 but remained above the 100-point level, indicating continued "moderate" economic growth worldwide.The coincident global barometer edged down 0.4 points to 103.2 points, according to a Monday release. The leading barometer, meanwhile, reached its highest level since February 2022, increasing 2.7 points to 104.4 points.The decline in the coincident barometer was mainly due to negative contributions from the Asia, Pacific & Africa region and the Western Hemisphere. On the other hand, the rise in the leading barometer was largely attributed to the positive contribution from the Asia, Pacific & Africa region.

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Asia Markets

UAE Shares in Red as Geopolitical Jitters, Volatile Oil Prices Remain in Focus

Stocks in the United Arab Emirates closed lower on the first trading day of the week as uncertainty surrounding the reopening of the Strait of Hormuz and fluctuating oil prices dampened sentiment.At the close of Monday trading, the FTSE ADX General Index lost 0.101%, while the DFM General Index was down 0.73%."Oil prices remain supported by uncertainty surrounding the Strait of Hormuz. While US President Donald Trump said Washington is 'semi-negotiating' with Iran, suggesting a focus on economic pressure rather than military escalation, significant hurdles remain before any broader agreement is reached," ING analysts said. "Reports indicate that Iran and Oman are nearing an agreement on a shipping route through Hormuz, though a full reopening of the waterway is still likely to depend on progress in US-Iran talks."As of 3:45 pm UAE time, the Brent crude oil futures stood at nearly $84.803 per barrel, up 1.50% from the previous day.Zooming in at home, the Abu Dhabi Securities Exchange recorded a 3.7% year-over-year growth in total trading volume in the first half, achieving a market capitalization of 2.8 billion Emirati dirhams and net positive inflows of 1.4 billion dirhams."In H1 2026, we continued to expand market access, strengthen infrastructure, and introduce innovations and solutions to enable local and international investors to participate in our market more efficiently and in a more timely manner. The results reflect an agile platform designed for resilience, sustainable growth, and long-term value creation," Abu Dhabi Securities Exchange Group Chief Executive Officer Abdulla Salem Alnuaimi commented.Over to corporates, Adnoc Gas (ADX:ADNOCGAS) gained 0.59% at closing and was the Abu Dhabi bourse's most traded stock by value and volume. The natural gas distribution company's profit for the first half fell 34% year-on-year due to export disruptions amid ongoing regional developments in the Middle East.Emirates Investment Bank (DFM:EIBANK) logged a lower profit of 11.1 million dirhams for the period. Shares of the Dubai-listed lender were flat at the time of closing.

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Equities

Berenberg Cuts Technip Energies Price Target Amid Middle East Cost Headwinds; Buy Rating Kept

Berenberg lowered its price target for Technip Energies (TE.PA) to 40 euros from 45 euros, as analysts noted cost headwinds in the French energy infrastructure company's Middle Eastern projects."Activity on the company's Middle East projects was normalising through Q2, but costs increased given the additional logistics and safety measures required (an incremental EUR30m-40m per quarter). There are also certain disputed items that Technip Energies should be reimbursed for. Prudently, the company has provided for these additional costs, which led to PD Q2 EBITDA margins declining by 590bp yoy to 1.7% and an FY26 EBITDA margin guidance cut to more than 5.0% (from 6.5-7.5%)," according to a Monday note.Subsequently, the research firm reduced its sales, EBIT, and EPS projections for 2026 to 2028 to reflect the revised guidance, the ongoing disruption and the "likely dilutive" impact from future cost recoveries.On the flip side, Berenberg noted a potential upside to the margin guidance, modelling 5.5% for 2026. "We think there is upside to current margin guidance as client agreements are finalised, assuming the conflict does not intensify further. Despite this, the exceptionally high order intake underscores the strong medium-term outlook, reinforced by a record EUR25bn backlog."The stock's buy rating is unchanged.

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Equities

Adnoc Says Vessel Targeted in Strait of Hormuz

Abu Dhabi National Oil Co., or Adnoc, said that one of its vessels was hit by a missile in the Strait of Hormuz early Aug. 8.The state-owned oil company added that the incident was contained and resulted in no injuries, the WAM news agency reported the same day.

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Equities

Adnoc Says Taking Measures to Protect Staff, Assets Amid Attacks While Transiting Hormuz

Abu Dhabi National Oil Co., or Adnoc, is taking all necessary measures to protect its staff, assets and operations, as well as meet customer needs, following "unprovoked attacks" while transiting the Strait of Hormuz.The state-owned oil company said Friday that 15 of its vessels have been targeted by missiles and drones since the Middle East conflict started. Three of these incidents occurred this week alone, resulting in one fatality and 20 injuries.

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Asia Markets

UAE Stocks Close Mixed as Corporate Earnings Take Center Stage

Markets in the United Arab Emirates ended the trading week diverging as investors digested fresh corporate earnings while weighing uncertainty over US-Iran negotiations.The country's two benchmark indices closed mixed on Friday as Abu Dhabi's FTSE ADX General Index lost 0.256% and Dubai's DFM General Index gained 0.448%.As another busy earnings week came to a close, Dana Gas (ADX:DANA) reported a 47% year-over-year growth in its net profit for the first six months, driven by higher revenue, and closed the session 2.80% higher. Insurance House (ADX:IH) stocks, on the other hand, plunged 4.86% despite a surge in its net profit for the period.Emaar Properties (DFM:EMAAR) and its subsidiary Emaar Development (DFM:EMAARDEV) logged 22% and 48% year-over-year jumps in their first-half attributable profits, respectively. Emaar Properties closed 0.86% lower and was the Dubai bourse's most traded stock by value, while Emaar Development shed 1.62% at closing.On the geopolitical front, markets weighed the initial details of the Iran-Oman agreement to reopen the Hormuz waterway, which comprises a potential ban on US and Israeli vessels, transit fees of 5% to 7% and a penalty of up to 20% of cargo value on hostile countries, and other compensation for damage."Despite clear signs of progress in recent days, the tenor of the rhetoric and growing distrust between the US and Iran mean things could go from bad to worse once again," ING said. "For now, we hold onto our view that flows will start to normalise through the third quarter, which leaves us expecting Brent to average $80/bbl this quarter. However, there's plenty of risk and uncertainty to this view."On the economic calendar next week is the release of July's consumer price index print by the US Bureau of Labor Statistics, providing investors with an overview of inflation and the US Federal Reserve's next monetary policy move.

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Asia Markets

Emirati Equities Diverge on Uncertainty Over US-Iran Talks

Stock trading in the United Arab Emirates ended Thursday mixed as investors await clarity on the renewed negotiations between the US and Iran.At the close of trading, the FTSE ADX General Index inched up 0.092%, while the DFM General Index was down 1.496%.Iran vowed to attack Gulf energy infrastructure in case of new US attacks, with Iranian Foreign Minister Abbas Araghchi urging Saudi, Qatari, and Turkish counterparts to press US President Donald Trump to avoid such actions, media reports said.Meanwhile, Iran said that an agreement with Oman was reached for a temporary shipping route through the Strait of Hormuz and that full reopening of the waterway will be based on the US ending the naval blockade of its ports."Iran signalled progress toward this goal, announcing that it has reached an agreement with Oman on new shipping arrangements for the strait, with a joint statement on the deal now being prepared," ING said. "The real hinge point now becomes the trajectory of US-Iran discussions, because meaningful progress there is essential before disrupted energy flows can realistically resume."Back home and on the corporate front, Abu Dhabi Aviation (ADX:ADAVIATION) recorded a marginal year-over-year growth of 0.1% in its first-half attributable profit, with a 28.2% increase in revenue. Its shares closed the session 0.19% in the red.Over in Dubai, Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower, lost 3.13% at closing despite a record 16.2% growth in net profit for the first six months driven by an increase in its total contracted capacity.

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Asia Markets

UAE Shares Close Higher as Non-oil Private Sector Growth Recovers

Emirati shares closed higher as investors weighed the latest figures from the country's non-oil private sector against geopolitical tensions in the Middle East.At the close of Wednesday trading, the FTSE ADX General Index was little changed at 0.096% in the green, while the DFM General Index was up 0.364%.The S&P Global UAE PMI, an indicator of the country's non-oil private sector activity, increased to 52.7 in July from a five-year low of 50.8 in June, marking the highest reading since March. New orders, exports, and workforce numbers rose despite supply chain disruptions and elevated cost pressures."Although the July PMI reading of 52.7 remains a step lower than the levels observed prior to the Middle East conflict, it provided some assurance that businesses were coping better after a heavily disrupted Q2," S&P Global Market Intelligence principal economist David Owen said. "Still, the volatile situation in the Strait of Hormuz continues to make the future uncertain and kept price pressures elevated in July, which firms struggled to fully pass on to customers amid a competitive business environment. Firms also saw a reduction in inventories despite a sharp rise in purchasing, suggesting they are still operating with tighter stock volumes and longer supply schedules."In geopolitical news, Axios reported, citing two regional sources, that the US, Iran, and Oman are nearing an interim agreement to resume shipping flows through the Strait of Hormuz. Axios also stated that the deal could be announced as soon as Wednesday.Moving to regional corporate news, Abu Dhabi National Oil Co. for Distribution (ADX:ADNOCDIST), d/b/a Adnoc Distribution, recorded a 58.5% year-over-year growth in its attributable net profit for the first half, backed by higher fuel volumes and growth in non-fuel retail and positive inventory movements. Its shares closed the session 0.73% lower.Elsewhere, Mashreq Bank (DFM:MASQ) shares shed 0.81% at closing. FAB Securities reiterated its hold rating and a price target of 270 Emirati dirhams after the lender logged a higher-than-expected net profit in the second quarter. The growth was primarily driven by higher funded and non-funded income, and impairment reversals.

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S&P: UAE Non-oil Private Sector Growth Regains Momentum in July on New Order Boost
US Markets

S&P: UAE Non-oil Private Sector Growth Regains Momentum in July on New Order Boost

Easing regional tensions and a surge in new business helped the United Arab Emirates' non-oil private sector rebound "strongly" in July from a five-year low in the previous month, data from S&P Global showed Wednesday.The S&P Global UAE PMI rose to a four-month high of 52.7 from June's 50.8. New business in the month climbed at its fastest rate since February, as monitored companies reported that client confidence gradually recovered amid improving regional conditions.Notably, non-oil firms saw export demand increase, with a "modest" boost in export sales that was still the quickest pace in a year, signaling an uptick in regional activity. Job creation also returned to positive territory in July, reversing the previous month's near six-year record decline in headcount, as companies sought to grow their numbers to meet rising customer demand.Conversely, cost inflation remained elevated in July, creeping closer to April's peak, with 10% of surveyed companies reporting higher expenses across key inputs including fuel, food, fertilizers, software, and shipping. Amid cost headwinds and ongoing supply chain disruptions, business confidence dropped for the third straight month, with only 7% of non-oil companies anticipating production expanding over the coming year."Still, the volatile situation in the Strait of Hormuz continues to make the future uncertain and kept price pressures elevated in July, which firms struggled to fully pass on to customers amid a competitive business environment. Firms also saw a reduction in inventories despite a sharp rise in purchasing, suggesting they are still operating with tighter stock volumes and longer supply schedules," S&P Global Market Intelligence Principal Economist David Owen said.Zooming in on Dubai, the PMI also rose to 51.7 in July 2026 from 50.7 previously, with new orders rising to their highest level since March amid growing customer demand. However, business activity growth eased to the slowest rate since June 2021 due to competition and pricing headwinds.

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International

S&P: UAE Non-oil Private Sector Growth Hits Four-month High in July

The United Arab Emirates' non-oil private sector "recovered strongly" in July, as output increased amid the fastest acceleration in new business since February.The S&P Global UAE PMI stood at a four-month high of 52.7, up from a five-year low of 50.8 in June, S&P Global said Wednesday.

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Asia Markets

Abu Dhabi, Dubai Stocks Gain Ahead of Key Economic Data

Stocks in the United Arab Emirates closed in the green again, with the FTSE ADX General Index gaining 1.618% and the DFM General Index adding 1.83% at the close of Tuesday trading.Markets will await the release of the UAE S&P Global Purchasing Managers' Index report for July on Wednesday to gauge the health of the country's non-oil private sector amid the renewed tensions in the Persian Gulf and the Red Sea. The metric declined to 50.8 in June from 52.6 in May.On the geopolitical front, investor optimism improved after US President Donald Trump signaled that fresh talks with Iran had resumed, though the Middle Eastern country dismissed claims that any such negotiations are taking place."Oil prices dropped sharply yesterday on rising optimism that the US and Iran may be moving closer to reviving a Middle East deal," ING said. "The scale of the sell-off seems fairly overdone, given that there's still considerable uncertainty. We've been in this situation multiple times before, only to see things unravel. And with Iran denying that any talks are underway and Trump issuing warnings if no deal materialises, the backdrop clearly leaves ample room for a renewed escalation."Back home and on the corporate front, FAB Securities confirmed Americana Restaurants International's (ADX:AMR) buy rating with a price target of 2.50 Emirati dirhams after its second-quarter attributable profit surpassed the financial services firm's expectations. Shares of the restaurant operator closed the session flat.Al Ramz Corp. Investment and Development (DFM:ALRAMZ) logged a 90% year-over-year growth in its first-half net profit driven by higher trading volumes, asset management fees, and market-making revenue. The Dubai-listed investor's shares were also unchanged at the time of closing.

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Equities

ADNOC Teams Up with SLB to Deploy AI Platform on Drilling Rigs Fleet

Abu Dhabi National Oil Co., or Adnoc, partnered with US-based technology company SLB to deploy an artificial intelligence-enabled platform across its fleet of over 120 drilling rigs.The state-owned oil group said the Real-Time Operations Centre platform replaces multiple tools, enabling staff to monitor, analyze and manage drilling operations faster across its onshore and offshore assets, according to a Tuesday release.The platform, enabled by SLB's DrillOps intelligent well delivery and insights products, provides live rig data from drilling operations in a single environment and turns large volumes of drilling data into clear information.

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Asia Markets

UAE Stocks Gain as US-Iran Tensions Ease; OPEC+ Raises September Oil Output Target

Markets in the United Arab Emirates started the first day of the new trading week in the green, buoyed by optimism over renewed US-Iran talks.At the close of Monday trading, the FTSE ADX General Index added 0.264%, while the DFM General Index was up 1.424%.US President Donald Trump said in a social media post that he called off a planned strike on Iran at the request of other Middle Eastern countries. Trump also stated that talks for a deal to reopen the Strait of Hormuz and Iran's denuclearization will take place on Monday but did not specify a deadline or location of the negotiations.In other news, seven OPEC+ countries, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, agreed to increase oil output by 188,000 barrels per day from September at their virtual meeting on Sunday.Back home and on the corporate front, Alpha Dhabi (ADX:ALPHADHABI) was the standout stock on the Abu Dhabi bourse and surged 9.15% at closing. The Abu Dhabi-listed investment holding company recorded a 48% year-over-year growth in its first-half net profit, driven by disciplined capital allocation and strategic investments."Our H1 results demonstrate the structural strength of our portfolio and the impact of our investments in artificial intelligence and some of the world's most transformational companies like SpaceX," Alpha Dhabi Holding Group Chief Executive Officer Hamad Al Ameri commented. "Whether it is through expanding our international footprint or deepening our sector expertise, our priority remains clear: executing our strategy with discipline and unlocking transformative growth opportunities across all our verticals."Meanwhile, Emirates NBD Bank's (DFM:EMIRATESNBD) unit Emirates NBD Egypt agreed to buy the retail banking portfolio of HSBC Bank Egypt, the indirect subsidiary of British lender HSBC, to boost its retail and premium banking footprint in Egypt. Emirates NBD Bank's shares were 3.31% in the green at the time of closing.

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Equities

Adnoc Adopts New Official Selling Price Methodology for Crude Grades

Abu Dhabi National Oil Co., or Adnoc, will implement a new official selling price methodology across its Abu Dhabi onshore and offshore crude grades, following a regular commercial review.Effective Nov. 1, the state-owned oil group will adopt a prompt-month pricing methodology based on the Platts Dubai benchmark plus an Adnoc-announced differential to be announced the month before the target delivery month, according to a Friday release. It currently implements an ICE Futures Abu Dhabi-based pricing methodology, which uses the Murban futures contract and prices crude two months before loading.Adnoc said the decision is not expected to have a material impact on any of its listed instruments.

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Asia Markets

Emirati Equities Close Busy Corporate Earnings Week in Green

Shares in the United Arab Emirates closed on a positive note as investors balanced a busy week of corporate earnings with the latest geopolitical developments.At the close of Friday trading, the FTSE ADX General Index added 0.362%, while the DFM General Index was subdued at 0.065% in the green.The Abu Dhabi bourse welcomed first-half financial releases from Borouge (ADX:BOROUGE), Pure Health Holding (ADX:PUREHEALTH), Emsteel Building Materials (ADX:EMSTEEL), and Dubai Financial Market (DFM:DFM).Borouge shares closed flat as its first-half profit dropped 27% year over year due to reduced margins driven by higher freight, logistics, and propylene feedstock costs. Pure Health and Emsteel Building Materials, on the other hand, logged higher profits for the period and closed 1.80% and 0.91% higher, respectively.Bourse operator Dubai Financial Market's net profit slipped despite increased trading activity and investor participation during the period. Its shares lost 1.39% at closing.On the geopolitical front, US President Donald Trump said in a social media post that an agreement for the complete disarmament of Hamas and armed groups in Gaza was reached, with the city to be governed by a new Palestinian government working closely with his Board of Peace.In other news, the personal consumption expenditures price index, the US Fed's preferred inflation gauge, cooled in June, driven by a decline in energy prices during a temporary ceasefire agreement between the US and Iran."On the inflation front, the PCE fell 0.1% in June, as expected and marking the first monthly decline since April 2020. Year-over-year, headline inflation climbed 3.7%, easing from the 4.1% gain in June and marking the smallest gain in three months," Stifel said. "Excluding food and energy costs, the core PCE rose 0.1% in June, a tenth of a percentage point less than expected and following a 0.3% gain in May. Over the past 12 months, core inflation rose 3.3%, as expected and marking the smallest gain since April."

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Asia Markets

UAE Stocks Closed Mixed Amid Central Bank Rate Hold

Stock trading in the United Arab Emirates closed on both sides of the spectrum on Thursday, with the FTSE ADX General Index adding 0.399% and the DFM General Index little changed at 0.08% in the red at the close of trading.The UAE Central Bank on Wednesday kept the base rate applicable to the overnight deposit facility unchanged at 3.65%, while also maintaining the interest rate applicable to borrowing short-term liquidity at 50 basis points above the base rate for all standing credit facilities.The financial regulator's decision was in line with the US Fed's move to keep the federal funds rate steady, as the Emirati dirham is pegged to the US dollar."The Federal Open Market Committee (FOMC) voted 9 to 3 to keep the federal funds rate at 3.50% to 3.75%. President Warsh struck a hawkish tone by repeatedly emphasising that inflation had remained above two per cent for too long. However, he was not among the three FOMC members who voted in favour of a 25bp increase," Berenberg said. "We reiterate our call that if tensions in the Middle East ease, as we anticipate in our base case scenario, the Fed will not need to increase its key interest rate. However, under Warsh, the risk of a surprise has increased significantly."Meanwhile, geopolitical risks remained in focus as the US Central Command launched another round of strikes on Islamic Revolutionary Guard Corps' command centers, missile and drone facilities, and defense sites in Iran in response to the latter's ballistic missile strikes on US forces in the Middle East.Back home, the UAE Capital Market Authority's board approved the removal of 15 fees to reduce costs and enhance regulatory services provided to licensed companies and individuals operating in capital markets.Over to corporates, Adnoc Drilling (ADX:ADNOCDRILL) logged a higher first-half attributable profit of $701.9 million, backed by a 4% year-over-year revenue growth, but closed the session flat. NMDC Group's (ADX:NMDC) attributable profit for the period fell 5%, with its stocks managing to close the session 3.23% in the green.Dubai-listed Tecom Group's (DFM:TECOM) profit and revenue for the six months ended June 30 jumped 9% and 11% respectively, due to higher occupancy and improved rental rates. Shares of the business district developer gained 1.80% at the time of closing.

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International

UAE Central Bank Keeps Base Rate at 3.65% in July

The Central Bank of the United Arab Emirates on Wednesday maintained the base rate applicable to the overnight deposit facility at 3.65%.Meanwhile, the interest rate applicable to borrowing short-term liquidity was kept at 50 basis points above the base rate for all standing credit facilities.The CBUAE's decision follows the US Federal Reserve's move to maintain the interest rate on reserve balances.

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