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FINANCIAL NEWS
Dubai corporate earnings hit USD4.1b in H1
02 Sep 2015
(MENAFN) Data showed that Dubai’s corporate earnings grew 3.7 percent in the January-June period of this year, hitting USD4.1 billion, driven by strong banking sector growth.
The banking sector, which accounts for 12.4 percent of Dubai’s Financial Market incremental earnings, posted a 32 percent growth in the first six months of the year.
However, the real estate and construction sector, which contributes 32.5 percent of the consolidated earnings, logged a drop of 9.9 percent, the bourse Global Investment House said.
In an overall look, the combined corporate earnings of the UAE declined 0.6 percent in the first half as Abu Dhabi recorded a 3.7 percent drop during the same period.
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