Dubai stock market news

Here are the latest news and updates from the Dubai Financial Market (DFM):

Market Overview

• The DFM General Index closed at 2,434.44 points, down 0.45% from the previous day's close.
• The market capitalization of the DFM reached AED 1.34 trillion (USD 364 billion).
• Trading volume reached 144.8 million shares, with a value of AED 1.23 billion (USD 335 million).

Top Gainers

• Emaar Properties (EMAAR) gained 2.45% to close at AED 4.35 (USD 1.19).
• Dubai Islamic Bank (DIB) rose 1.83% to close at AED 4.35 (USD 1.19).
• Emirates NBD (ENBD) gained 1.63% to close at AED 8.45 (USD 2.30).

Top Losers

• Dubai Properties (DPRO) fell 4.17% to close at AED 1.35 (USD 0.37).
• Union Properties (UPRO) dropped 3.85% to close at AED 0.65 (USD 0.18).
• Arabtec Holding (ARB) fell 3.45% to close at AED 1.15 (USD 0.31).

Company News

• Emaar Properties announced a 10% increase in its net profit for the first half of 2023, driven by strong revenue growth from its hospitality and shopping mall businesses.
• Dubai Islamic Bank reported a 12% increase in its net profit for the first half of 2023, driven by growth in its core banking business and Shariah-compliant financing.
• Emirates NBD announced a 15% increase in its net profit for the first half of 2023, driven by strong growth in its retail and corporate banking businesses.

Economic News

• The UAE's non-oil private sector expanded at its fastest pace in over a year in July, driven by strong growth in new orders and output, according to a survey by IHS Markit.
• The UAE's inflation rate rose to 2.4% in June, driven by higher prices for food and housing, according to data from the UAE's National Bureau of Statistics.
• The Dubai government announced plans to launch a new initiative to attract more foreign investment to the emirate, including a new visa program and a range of incentives for foreign companies.

Regulatory News

• The Dubai Financial Services Authority (DFSA) announced that it has approved the listing of a new exchange-traded fund (ETF) on the DFM, which will track the performance of the DFM General Index.
• The Securities and Commodities Authority (SCA) announced that it has launched a new investigation into alleged insider trading activities on the DFM.

I hope this information is helpful!