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Dubai leads Middle East Market in to Success

Oxford Tax Solutions
24 November, 2014

Dubai experienced an increase jumping up 2.8%, the largest increase during three weeks, as Arabtec soared to 8.8%.

According to statistics, most stock markets located in the Middle East moved up. The increase was led by Dubai. When the Dubai’s Arabtec Holding, a leading construction company, bought stocks in a pioneering property-developing firm in Egypt indexes throughout the Middle East rose tremendously.

Dubai’s index rose to 2.8%, the most significant increase during the previous three weeks, as Arabtec Holding Company, increased to 8.8%.

The fact that Dubai’s Arabtec invested in Egypt indicates the United Arab Emirate (UAE) will to support the Egyptian economy. Moreover, Arabtec may possibly benefit from the investment by undertaking a new project for example in Egypt.

Abu Dhabi’s index rose by 1.1% due to the emirates Abu Dhabi Commercial Bank and Aldar Properties Company, which marked 3.8% and 5.1% respectively.

The most traded stocks in the market were attributed to Waha Capital. Last Sunday, the firm marked an increase in its index soaring to 5.5% to Dh3.08. Waha Capital ended the third quarter of 2014 with strong figures and results.

As for Qatar, its index increased by 0.7% and Saudi Arabia also marked an increase of 1.1% largely due to its banking sector. As for Egypt, the country’s index marked an increase of 0.9% while Kuwait sloped downwards by 0.7% and Oman’s index went up by 0.3%.

Tags: Middle East | Dubai

About the Author

Oxford Tax Solutions

The head of this dynamic multilingual team is Mr. Athos Fouttis, an International Tax Consultant, author of articles in international publications and regular speaker at international tax and offshore seminars. Our head office is located at the main business district of Limassol Cyprus. Contact: www.oxfordtaxsolutions.com


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