17 stocks jumped on the Dubai Stock Exchange during today’s trading session, led by Damac Real Estate Dubai by 14.43%, then Gulf Navigation Holding Company by 7.31%, while 8 shares fell, on top of which DXB Intertimens was by 3.41%, then Bank Emirates NBD, by 3.39%, while Damac Properties Dubai topped the list of the most traded shares by value, with a volume of 28.9 million papers valued at 31.2 million dirhams.
In a related context, Al-Sagr Insurance Company announced that S & P Global Credit Rating Company has been granted a strong domestic credit rating (GCA +) according to the classification standards of the Gulf Cooperation Council countries. The company’s management is made by adopting and following the best work policies and the highest standards of quality performance.
Abdul Mohsen added that despite the difficult economic conditions, the Falcon Company has achieved growth in its revenues during the first half of the year, and also achieved underwriting profits, by following a school and effective emergency action plan during the period of the pandemic, noting that the agency gave the Falcon a look A stable future, thus confirming its expectations on the Falcon’s ability to continue achieving underwriting profits and maintaining the solvency of capital.
In another context, the Dubai Financial Market Company announced the meeting of the Board of Directors on Monday, October 26, at exactly two o’clock in the evening, via electronic means “remotely” to discuss the following agenda, which is the condensed consolidated interim financial information for the nine-month period ending on 30 September 2020, the appointment of a member of the Sharia committee to replace the deceased member, the approval of issuing controls for trading regulated derivatives contracts, the approval of issuing controls for short-term margin trading.
Separately, the National Central Cooling Company, Tabreed, announced its success in offering bonds worth US $ 500 million (1.8 billion Emirati dirhams) for seven years with a yield of 2.6%. The offered bonds witnessed strong demand from about 140 international and regional investors, which led to 5 times the size of the initial subscription of $ 400 million, which indicates investor confidence in the firm’s established credit assets, despite the current conditions in the global economy, and thanks to the high demand, the company was able to set prices significantly to reach the final return rate of 2.5% with an increase Final bond size to $ 500 million.
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