Dubai Financial Market announced that the value of shares bought by foreign investors, or non-UAE nationals, during last week reached AED1.39 billion comprising 35% of the total value of stocks traded during the period. While, The value of stocks sold by foreign investors during the same period reached AED1.628 billion comprising 41% of the total value of stocks traded during the period. (Gulf News)

Dubai Investments released its 9M08 results posting a net income of AED1,669 million up 56% from AED1,070 million in 9M07. (DFM)

The Federal Reserve cut discount rates yesterday by 50 bps to 1.0%. (Bloomberg)

National Bank of Abu Dhabi stated that it did not use the loan facilities provided by the government to keep credit flowing. (Al Khaleej)

Bilateral non-oil trade between Dubai and France increased reached AED7.47 billion in 1H08, up by 26.7% when compared with that of the same period in 2007. (Gulf News)

Land transactions in Dubai are expected to reach AED300 billion by end of this year compared to AED175 billion in FY07, according to the Director-General of the emirate's Land Department, indicating that  the property sector in Dubai is not experiencing any negative impact from the international financial crisis. (Zawya Dow Jones)

Shuaa Capital appointed Michael Burgess as its new Chief Financial Officer. (Zawya Dow Jones)

Emaar acquired 200,000 yesterday as it began its buy-back program. It bought shares in two tranches of 100,000, paying AED5.60 per share for the first batch and AED5.50 per share for the second.  (Zawya Dow Jones)

The UAE Central Bank Governor announced that the UAE banks have used only 15% of the AED50 billion emergency funding facilities which the UAE Central Bank provided last month for banks to cope with the shortage of funds in the interbank market. (Gulf News)

Tamweel disclosed its 9M08 results posting a net income figure of AED573 million up 134.8% from AED244 million in 9M07. (DFM)

Aldar disclosed its 9M08 results posting a net income figure of AED3.4 billion up 138% from AED1.4 billion in 9M07. (Al Khaleej)

Union Properties disclosed its 9M08 results posting a net income figure of AED801 million up 70% from AED471.2 million in 9M07. (DFM)

DFM announced that the value of shares bought by foreign investors during last week reached AED1.6 billion, comprising 32.8% of the total value of stocks traded during the period.  While, the value of stocks sold by foreign investors during the same period was AED2.0 billion representing 40.1% of the total value of stocks traded during the period. (Al Ethad)

Arabtec released its 9M08 results posting a net income figure of AED761 million up 121.7% from AED343 million. (DFM)

Sharjah Islamic Bank released its 9M08 results posting net income of AED287.1 million up 67.1% from a previous AED171.8 million. (ADX)

The Dubai International Financial Exchange (DIFX) announced it would list equity derivatives next month in a bid to boost liquidity and attract more investors. (Gulf News)

Abu Dhabi Commercial Bank (ADCB) released its 9M08 results posting net income of AED1.62 billion up 2.5% compared to AED1.58 billion recorded for 9M07. (Gulf News)

National Bank of Abu Dhabi disclosed its 9M08 results posting a net income figure of AED2521 million up 43.1% from AED1761 million in 9M07. (ADX)

Dubai Financial Market released its 9M08 results posting a net income figure of AED780.6 million down 9.1% from AED865.3 million in 9M07. (DFM)

Abu Dhabi Islamic Bank (ADIB) released its 9M08 posting a net income of AED736.7 million up 52.5% from AED 483.0 million in 9M07. (ADX) 

According to the International Monetary Fund's economic outlook for the region, UAE’s real GDP growth is projected to slow to 6% in 2009. The IMF is also expecting inflation in UAE to reach 12.9% in 2008, higher than the 11.1% in 2007, before easing to 10.8% in 2009. (Gulf News)

Amlak Finance and Tamweel revealed they are working closely with government authorities to arrange access to liquidity and funding alternatives amid the current liquidity squeeze to fulfill ongoing business plans of the combined entity. (Gulf News)

Emaar Properties released its 9M08 results posting net income of AED4,823 million, down 0.3% from AED4,839 million in 9M07. (DFM)

Gulf Finance house is set to hold its BOD meeting on October 21st to discuss 3Q08 results. (DFM)