Interpreting Middle East Economic News and Analyzing Market Trends

Archive for September, 2013

Dubai market closes at high for the year, up over 68%

DFM Index 30-9-2013 YTD

 Source: Marketwatch

The Dubai Financial Market (DFM), one of the main exchanges in the UAE, is up over 68% so far this year.  How long will this last?

 

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Dubai property values rising fast – Experts agree, “this time is different”

With the local stock market up over 65% so far this year and property values up by more than 20%, the experts agree that this time is different.

 

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First Gulf Bank to layoff 10% of workforce, a sign that banks are still struggling in the UAE

First Gulf Bank

The UAE’s third largest bank is cutting its workforce by 10% or 300 people.  The bank has been struggling to regain its footing in the market since it fell hard during the financial crisis.  The move now is a clear sign that the banking sector has yet to recover to where it was before 2008, unlike other sectors of the economy, most notably real estate and tourism.

 

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