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Investors hope UAE Q1 earnings justify stock rally

By Nadia Saleem / Reuters DUBAI: As the first quarter of the year draws to a close, investors are looking ahead to the announcement of corporate earnings for the period. In the United Arab Emirates, they are seeking justification for the sharp rally in local stocks over recent weeks. The Dubai and Abu Dhabi markets have …


Egypt index edges up, Gulf markets decline

By Reuters CAIRO: The benchmark index edged up 0.4 percent to its highest level in more than eight months, led by Orascom Telecom and helped higher by investor optimism that Egypt is starting to recover from a year of turmoil. Real estate heavyweight Talaat Moustafa Group tumbled 4.6 percent after reporting a 39 percent drop …


Aldar lifts Abu Dhabi; most Gulf bourses up

By Nadia Saleem / Reuters DUBAI: Aldar Properties led Abu Dhabi’s bourse to a seven-month high on Sunday after Moody’s raised its outlook on the developer to positive and Dubai’s bourse extended its rally while other regional markets ended mixed. Shares in Aldar surged 6.8 percent to their highest close since August. Moody’s changed the company’s …


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