Morning News Oct 20 2008

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)

Dubai Islamic Bank expects to recover the full value of a foreclosed loan from the seizure of Plantation Holdings assets belonging to detained British businessman Arthur Fitzwilliam. (Zaywa Dow Jones)

Shuaa Capital’s is set to hold its BOD meeting on October 26th and will discuss the company’s share buy back program. (Al Khaleej)

Sorouh Real Estate will hold its BOD meeting on October 21st to discuss 9M08 results. (Al Khaleej)

Waha Capital disclosed its 9M08 results posting a net income value of AED107.1 million up 17.7% from AED91.0 million in 9M07. (Al Khaleej)

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UAE Market Brief October 20 2008.pdf109.22 KB