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)

Dana Gas released its 1H08 results posting net income of AED59 million up 18% from a previous AED50 million recorded in 1H07. (DFM)

Agility disclosed its 1H08 results posting a net income figure of KWD72.7 million (AED992.6 million) down 9.5% from KWD80.3 million (AED1,096.4 million) in 1H07. (DFM)

Ajman Bank released its 1H08 results posting net income of AED17.9 million. (DFM)

National Cement Company released it 1H08 results posting net income of AED162.4 million up 59.5% from a previous AED101.8 million recorded in 1H07. (DFM)

    Looks can be deceiving, and today’s market turnover, which amounts to EGP 1.1 billion (USD194.1 million), is exactly that. While the Egyptian market did well for itself – gaining 1.3% on both the HCMI and CASE30 following news of potential political reform that may grant more power to both opposition political parties and parliament – almost EGP500 million in trading today came as block trades in some lesser followed companies, including Nile Clothing and Golden Pyramids. Thus, turnover type figures are skewed.

 - The UAE underestimates price inflation because its consumer price index (CPI) is based on
prices in 1994, says the IMF. As such, the UAE needs to give more weight to rent in its CPI.
(Bloomberg)
- Saudi mobile phone operator Etihad Etisalat (Mobily) will permanently lower tariffs starting
Tuesday to SAR0.3 per minute (USD0.08), from SAR0.37-0.42 per minute, a 19-30%
reduction. (Reuters)