DFM:ALRAMZ

5 stories mentioning DFM:ALRAMZUpdated 23d ago

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Emirati Indices End Week Mixed as US Vows Economic Pressure on Iran

Stock trading in the United Arab Emirates struggled to find direction on Friday as Abu Dhabi's FTSE ADX General Index declined 0.707%, while Dubai's DFM General Index gained 0.291% at closing.Following US President Donald Trump's threats to intensify economic pressure on Iran and nations that continue to do business with the Middle Eastern country, US Treasury Secretary Scott Bessent said that the details of these US measures would be revealed next week.Meanwhile, Iranian military Chief Ali Abdollahi said that any response to military threats would be "crushing" and "devastating.""In his CNBC interview yesterday, Bessent also said that oil markets were 'misinterpreting' what this economic pressure means, and that he would hold a press conference on Monday to discuss the next steps. With lingering questions of whether the US could target countries economically supporting Iran, China's Foreign Ministry spokesman said 'sanctions and pressure will not help resolve the issue,'" Deutsche Bank Research commented.Zooming in at home, Abu Dhabi Securities Exchange recorded a 99% compliance rate for listed companies' audited financial statements disclosures for the first half. The bourse also reported a 38% year-over-year growth in aggregate profits of these listed companies for the period.Over to corporates, Borouge (ADX:BOROUGE) approved an unchanged interim dividend of 0.081 Emirati dirham per share for the first half of 2026, bringing the total amount of dividends paid to $4.9 billion since its IPO in June 2022. The petrochemicals company closed the session flat.Elsewhere, Al Ramz Capital (DFM:ALRAMZ) renewed its liquidity provision agreement with Adnoc Drilling (ADX:ADNOCDRILL). Al Ramz Capital shares were flat on the Dubai Financial Market, while Adnoc Drilling gained 0.16% on the Abu Dhabi bourse at closing.

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Equities23d ago

Adnoc Drilling Renews Al Ramz Capital as Liquidity Provider

Adnoc Drilling (ADX:ADNOCDRILL) renewed Al Ramz Capital's (DFM:ALRAMZ) appointment as a liquidity provider for its shares for one year.Al Ramz Capital will continue to independently trade the offshore drilling company's stock on the Abu Dhabi Securities Exchange under defined parameters, according to a Friday release.

ADX:ADNOCDRILLDFM:ALRAMZ

Asia Markets40d ago

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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Equities89d ago

Adnoc Distribution Renews Al Ramz Capital as Liquidity Provider

Abu Dhabi National Oil Co. For Distribution (DFM:ALRAMZ), d/b/a Adnoc Distribution, renewed Al Ramz Capital's (ADX:ADNOCDIST) appointment as liquidity provider for its shares, effective Wednesday.The investment company will continue to independently trade the fuel distributor's stock on the Abu Dhabi Securities Exchange within defined parameters, subject to regulatory approvals, according to a Tuesday release.

ADX:ADNOCDISTDFM:ALRAMZ

Asia Markets146d ago

UAE Indices Close Lower as Geopolitical Jitters Resurface

Emirati equities began the new trading week in the red as renewed tensions between the US and Iran over the blockade of the Strait of Hormuz dampened investor sentiment.At the close of Monday trading, the FTSE ADX General Index lost 0.799%, while the DFM General Index declined 2.093%.The latest developments related to the Middle East conflict diminished hopes of a resolution after the US seized an Iranian cargo vessel. Iran responded by saying that it does not plan to pursue further peace talks with the US.Meanwhile, US President Donald Trump said in a social media post that they are offering Iran a "fair and reasonable" deal and threatened to strike its energy infrastructure if they do not accept it."In terms of the immediate focus, the question is whether investors will receive further positive news on renewed peace talks in Pakistan, or whether both sides will talk tough and potentially act tougher ahead of tomorrow's deadline on the two-week ceasefire. Today's benchmark of any progress will probably be whether Iran sends any negotiators to peace talks, now that US representatives are already on their way there. The mood music of markets is one of concern, but one that sees progress towards a resolution," ING said.Zooming in at home, ADGM, Abu Dhabi's international financial center, and Futian District People's Government of Shenzhen partnered to boost collaboration in financial services, talent development, and artificial intelligence, as well as enhance cross-border engagement.On the corporate side, Abu Dhabi National Co. for Building Materials (ADX:BILDCO), d/b/a Bildco, said that its operational and industrial activities faced no material disruption amid the ongoing tensions in the Middle East. Shares of the building materials company closed the session 14.48% in the green.Al Ramz Corp. Investment and Development (DFM:ALRAMZ) launched the initial public offering of the Horizons GCC Sukuks Fund and the Fortitude GCC Equity Fund. The investment company's shares closed flat when it last traded on April 17.

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