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    Dubai market gives up early advances againOctober 30, 2014

    Like in the previous days, the DFM General Index DFMGI opened more than one per cent higher, but eventually lost steam and finished 0.10 per cent lower at 4,622.11 points on Wednesday, October 29.

    While market leader Emaar Properties was unchanged, the shares of construction giant Arabtec, as the most liquid stock, fell by 1.40 per cent AED4.32.

    Dubai Islamic Bank gained 1.20 per cent to reach AED7.65.


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    Emaar operating profit soars 37%October 30, 2014

    Global property developer Emaar Properties recorded a net operating profit of Dh2.489 billion, up 37 per cent year-on-year, during the first nine months of 2014, driven by robust financial fundamentals, surging investor confidence and Dubai’s strong economic growth.

    Third quarter net operating profit surged 30 per cent to Dh758 million from Dh581 million a year earlier while a net profit rose 21 per cent to Dh701 million from Dh581 million.


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    WIEF in Dubai witnesses record registration

    The 10th forum of the World Islamic Economic Forum (WIEF) in Dubai got huge success as it set a new record by registering 500 more delegates compared to the last forum in London, which was the biggest till last year.

    This was announced by Hamad Buamim, president and chief executive officer of Dubai Chamber of Commerce and Industry on the second day of the forum during a news conference. The chamber is also co-organiser of the event along with WIEF Foundation.


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    Etisalat turns to Green Energy to reduce UAE’s carbon footprint

    Etisalat, the region’s leading telecom operator, announced its goals and initiatives to earnestly adopt cleaner technologies for power generation and energy efficiencies for sustainable development and reduction of carbon footprint in the UAE.

    Among several recent initiatives undertaken by the company to reduce environmental impact of traditional energy sources, it collaborated with the UAE’s electricity utility providers to connect grid power for more than 100 mobile network sites, which were operating on diesel generators.


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    UAE among Top 5 in consumer confidence

    The UAE is among top five countries in the world in terms of consumer confidence, according to the latest survey by global information and insights company Nielsen.

    The UAE ranked top in the Middle East with the highest consumer confidence. The country edged up three index points form the second quarter to a score of 112. Saudi Arabia also secured place among top 10 with 105 points.

    India remained the most bullish"...

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    RAK Petroleum to launch initial public offering in Norway

    RAK Petroleum PCL, the UAE oil and gas investment company, announced that it is proceeding with plans for an initial public offering and application for listing in Norway.

    Prior to the listing, RAK Petroleum PCL will transfer substantially all of its assets, liabilities and business to a new UK company, RAK Petroleum plc, as part of a reorganisation approved by the shareholders in May 2013.

    RAK Petroleum plc will"...

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