GCC Stock Markets Buck Worldwide Trend

20 Aug 2007 by OOSKAnews Correspondent
united arab emirates, ABU DHABI

- While stock markets around the world were hitting lows earlier this month, shares in the Arab Gulf have been on the rise. In Abu Dhabi's stock exchange, a rise of 0.2 percent has been attributed mainly to a 1.4 percent growth registered by Abu Dhabi National Energy Corporation, known as Taqa, mainly driven by its water sales. Taqa, which is partially owned by the Abu Dhabi government, recorded a 43 percent growth in sales during the first six months of 2007, in comparison with its sales during the same period in 2006. According to the company's second quarter financial results, its net income was up by $51 million USD, raising its share prices from 3...

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