Business | Markets
Dubai leads Gulf stocks surge as markets open on a positive note
The Dubai Financial Market went up 8.3 per cent as trading opened on Tuesday.
- Staff Report
- Published: 10:25 October 14, 2008
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Record gains for Dubai stocks
Dubai index in biggest one-day gain ever
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Cabinet approves buyback option
Cabinet approves buyback option
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UAE eases rules on share buybacks
UAE eases rules on share buybacks to boost stocks
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UAE markets recover Dh41b
UAE markets recover Dh41b
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Government intervention revives market
UAE government intervention revives market
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Brimming with confidence
Brimming with confidence
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Governments bail out banks
Governments bail out banks
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Investor confidence gets big boost
Investor confidence gets big boost
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UAE economy 'will be unscathed'
UAE economy will be unscathed by global crisis
Dubai: The Dubai Financial Market went up 8.3 per cent as trading opened on Tuesday, followed by other markets in Gulf countries, with Abu Dhabi rising 6 per cent and Oman 5.5 per cent.
Share prices surged as governments took action to restore investor confidence in the markets and the financial system.
The UAE on Monday announced it would guarantee all bank deposits, including those with foreign commercial banks that have significant retail operations in the country.
The Cabinet on Monday also authorised the Emirates Securities and Commodities Authority (Esca) to ease restrictions on share buybacks in an effort to boost stocks after weeks of decline.
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