File - Investors watch a monitor at Dubai Financial Market April 27, 2014. REUTERS/Mounir Saidi
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Dubai's shares fell to their lowest level in more than two months as Arabtec Holding Co. tumbled and unrest in Iraq escalated.Arabtec slid 10 percent, the maximum allowed, and Emaar Properties PJSC, the stock with the biggest weighting on the measure, retreated 3.2 percent.The shares closed 10 percent lower Sunday as the Dubai Financial Market website showed Abu Dhabi-controlled Aabar Investments PJSC had reduced its holding in the company to 14.32 percent from 18.85 percent.Ismaik tripled his holding in Arabtec to 28.84 percent this year, data compiled by Bloomberg show.Of the regularly traded shares in Dubai's 30-member main index, only four traded above their 50-day moving average price Sunday, compared with 23 in December, according to data compiled by Bloomberg.
FOLLOW THIS ARTICLE