Report of the UAE market index securities on: Sunday, 09 September 2007

Reduce Emirates Financial Market index of the body of securities and commodity circulation during a Sunday 09 September 2007 by 0.65% to close at 4,337.33 points and has been trading close to 0.44 billion shares worth a total of 1.21 billion dirhams through 8,959 deals. The banking sector index registered a drop of 0.06%, followed by the insurance sector index dropped by 0.42%, followed by industry sector index dropped by 0.61%, followed by the services sector index dropped by 1.11%.

The number of companies that have been circulating shares 63 out of 118 companies listed in the financial markets. And prices have contributed 11 companies rose, while prices fell 45 shares of the company, while there has been no change in the prices of shares of the remaining companies.

And the shares «homes for the development» in the first place in terms of the companies most active trading was worth 0.41 billion dirhams distributed to 0.22 billion shares through 3,149 transactions. And occupied shares «reconstruction» ranked second with total circulation hit 0.26 billion dirhams distributed over 24.71 million shares through 908 transactions.

Shares achieved «International Group for investment» more rate rise in price per-share price closed at the level of 6.1 per ounce high of 7.02% during the circulation 74,000 shares at a value of 0.44 million dirhams. , Came in second place in terms of share price rise «Bank of Sharjah», which rose 3.05% to close at 3.04 dirhams per share through the circulation of 12.75 million shares valued at 38.75 million dirhams.

Registered shares «major projects» more low circulation rates at the meeting where the per-share price closed at the level of 6.1 per ounce, recording a loss of 12.10% during trading 59,108 shares valued 0.36 million dirhams. Shares followed «poultry feed», which declined by 9.88% to close at 3.1 dirhams through circulation of 3,552 shares to the tune of 11,011 dirhams.

And since the beginning of the year percentage growth in the UAE financial market index 7.6% and total circulation value 244.41 billion dirhams. And, the number of companies that have achieved high rates 63 out of 118 and the number of companies retreating 40 companies.

And the biggest indicator of manufacturing sector ranked first compared with other indicators and achieving growth rate from the end of last year amounted to 15.50% of the stabilized at the level of 511 points. While the services index came in second place by 10.11% to settle at 4,227 points. Followed by the banking sector index by 4.83% to close at 4,575 points. Followed by the insurance sector index dropped by -9.11% to close at 3,306 points.

Approval of the merger create the largest bank in the Gulf

The agency said, "The General Assembly of the National Bank of Dubai in the extraordinary meeting held in Dubai tonight decisions rose to about integration with the World Bank, Emirates Bank offer made by transnational companies + Emirates, the Dubai National + for the acquisition of the shares of Bank."

She explained that the "company + Emirates, the Dubai National" is the new company licensed by the Central Bank of the State was founded for the purpose of the proposed merger. "

She added: "This intervention mergers among the largest banks in Dubai to be in place to generate the largest banking entity in the Middle East in terms of assets valued at 165 billion dirhams under one name + National Bank of Dubai, Emirates + when the government owns Dubai 56 per cent of the capital . "

The Agency explained that the shareholders meeting to present the extraordinary general assembly of the National Bank of Dubai, "and agreed on merger resolution unanimously."

She said, "will be suspended trading in shares of Bank VII of October next to be re-register the shares in the new company + Emirates Dubai National + in 14 of the same month."

The agency added that Abdullah Saleh, chairman of the National Bank of Dubai, told reporters after chairing the meeting of the General Assembly that "the first meeting of the Governing Council of the National Bank of Dubai, UAE will be held in 12 of the current month."

The disclosure of the draft merger last March but the process will require two years after project approval today, Thursday, by the shareholders in the banks, who according to experts.

Deutsch Bank is expected to raise the value of Dram UAE in 2007

Deutsch Bank said on Thursday that the United Arab Emirates will allow the dirham rise against the dollar this year after the announcement of the postponement of the expected monetary unit of the GCC countries. It meets officials from central banks Gulf Cooperation Council states on Saturday and Sunday in the Saudi capital Riyadh for the first time since the currency's peg abolished Kuwait dinar dollar in May. The six countries have agreed in the past to stabilize exchange rates of their currencies against the dollar even start work currency consolidated in 2010. He said Deutsch Bank in a research note Thursday, "We expect to make Dram step in later this year and postpone a declaration officially start work currency consolidated decision in 2010." The official UAE Central Bank Governor Sultan Nasser Swedish repeatedly any change in the policy books at 3.67275 firm against the dollar since November November 1997. He said Deutsch Bank in June, is likely to allow Dram Emirates altitudes up to three% over the next three months. Doubts arose about the deadline for action currency consolidated since Oman announced last year that it will not join it by 2010. He said that some elements of Swedish monetary unit will be ready by the year 2010. He said Bahrain's Central Bank Governor Rasheed Mi'raj Qabbani: Wednesday that a decision on any postponement due to the rulers of the Gulf Cooperation Council, and not to officials of central banks. He said Deutsch Bank also "resolution adopting a common currency would be a political decision ultimately However, the postponement of economic chatter grows stronger." "We believe that this decision will be taken against the backdrop of historically high levels of inflation region ..." The inflation in Saudi Arabia, its highest level in seven years in July by 3.83%, the highest level in two and a half Amman by 5.9 per June, 12.8% in Qatar end of the second quarter. The data showed that the Kuwaiti annual inflation rose to the highest rate in 12 years in April, May and April before retreating to 4.36% in June, the first full month the trail dinar price basket of currencies after the cancellation of linking the dinar to the dollar May 20 May. In the UAE Ministry of Economy said that inflation was 9.3% in 2006 is the latest data available. Kuwait said that it has breached the Gulf Cooperation Council states on the other linking the currency because the decline in the dollar against other currencies the dollar raises the cost of some imports. He said Deutsch Bank "at the time it is too early to determine whether raising the value of Kuwaiti currency has succeeded in curbing inflation .. Under the advent of most Gulf imports from Europe, the strength in the currency will help curb inflation caused by imports." He said CALYON Bank Credit Agricole headquartered in Paris that about 38% of imports come from the Kuwaiti euro area compared with 39% for the Emirates and 51% of Qatar