The Dubai Stock Exchange retreated at the start … and the...

The Dubai Stock Exchange retreated at the start … and the...
The Dubai Stock Exchange retreated at the start … and the...
The general index of the Financial Market declined, at the beginning of the trading session on Sunday, the beginning of the week’s sessions, by 0.92%, losing 20.85 points to reach the level of 2,244.85 points, and the volume of trading reached 106 million shares, achieving a value of 49.5 million dirhams through the implementation of 1115 deals for 28 shares, Seven sectors fell on the Dubai Stock Exchange, led by the commodities sector by 4.31%, followed by the real estate sector by 1.66%, followed by the investment sector by 1.51%, then the insurance sector by 0.66%, then the banking sector by 0.62%, then the transport and services sectors by 0.35%, 0.22 %, Respectively.

4 shares jumped on the Dubai Stock Exchange during today’s trading session, on top of which is Anne Digital Service Holding Company by 4.24%, then Shuaa Capital Company by 1.74%, while 24 shares fell, led by Ithmaar Holding Company by 4.83%, then Gulf Navigation Company. Holding by 4.77%, while Emaar Properties topped the list of the most traded trades by value, with a volume of 3 million papers worth 8.2 million dirhams, and the share declined by 1.77%.

In a related context, Al Madina for Finance and Investment announced the purchase of one of its subsidiaries, the Arab Pen Educational Company, one of the subsidiaries of its associate company (Ektitab Holding Company), and thus the subsidiary of the group owns 99% of the Arab Pen Educational Company, with a value of 450 thousand Kuwaiti dinars.

The company added, in a statement to the Dubai Stock Exchange, today, Sunday, that it will result in the group’s ownership of about 22% of the capital of the Giad Holding Company, and accordingly the classification of the investment in the Giad Holding Company will be modified from investment in fair value through a statement of income form to investment In an associate company, this will affect the income statement with a profit of approximately 6.2 million Kuwaiti dinars, as it will affect the accumulated losses item by recording a net profit of approximately 2.4 million Kuwaiti dinars, and the final local will be a decrease in the accumulated losses by about 6% as at the end of the period ending in September 30.

In a separate statement, Ektitab Holding Company said that it has sold its 99% share of the capital of one of its subsidiaries, Al-Qalam Al-Arabi Educational Company, to one of the subsidiaries of Al Madina Group for Finance and Investment, for an amount of 45 thousand Kuwaiti dinars, which will affect the income statement with a loss of approximately KD 1.2 million. .

In another context, DXB Enterprises said that the company’s board of directors will hold a meeting on Tuesday, October 6, to consider the resignations submitted by the members of the board of directors, Malik Al Malik and Mukis Sudani, and to invite the general assembly meeting to convene, provided that the approval of the Securities Commission is obtained. Financial and Commodities, in order to elect a new board of directors for the company, as the term of the current board is about to expire.

While BH Mubasher Financial Services announced that it has obtained an investment management license from the Securities and Commodities Authority, as the license will enable the company to accommodate various investment objectives, and provide integrated products and services to its institutional and individual clients.

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