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FINANCIAL NEWS
Investment sector in UAE drops to 32.7pct
01 Sep 2016
(MENAFN) Total net profits of the investment firms listed on the Dubai Financial Market and the Abu Dhabi Securities Exchange, dropped by 32.7 percent in Q2 this year.
However, the decline in oil prices affected the progress in real estate projects, which decreased the revenues of some of the sector firms in the same period.
In addition, Shuaa Capital faced losses of USD13.8mn, against a profit of USD426.0mn in the same period of last year.
Shuaa Capital attributed the losses to the constant swings in international markets, in the light of the low oil prices and the instability in the Euro zone.
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