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Reuters
11-07-2025
- Business
- Reuters
UAE stocks rise as oil gains on IEA's market outlook
July 11 (Reuters) - Stock markets in the United Arab Emirates rebounded on Friday, led by gains in oil prices, while U.S. tariffs and possible further sanctions on Russia were also in focus. Crude prices rose after the International Energy Agency said on Friday the global oil market may be tighter than it appears, with demand supported by peak summer refinery runs to meet travel and power-generation. Brent crude was up 0.5% at $68.99 a barrel as of 1110 GMT. Dubai's main market rose by 0.4%, hitting a fresh 17-year peak as its upward momentum entered into a third straight week of gains. Real estate stocks also drove gains in the index, with market heavyweight Emaar Properties ( opens new tab advancing 1.4%, while business park operator Tecom Group ( opens new tab added 1.8%. Among financials, Ajman Bank ( opens new tab was one of the top performers, jumping 3.4% after the Ajman government raised its stake in the lender to 31.1%. Abu Dhabi's benchmark index (.FTFADGI), opens new tab inched 0.2% higher, supported by a 2.5% increase in IHC-owned investment firm Multiply Group ( opens new tab and 2.4% rise in real estate giant Aldar Properties ( opens new tab. Separately, Adnoc Gas signed a three-year LNG supply agreement worth AED 1.5 billion ($408.42 million) with Germany's SEFE, although the Abu Dhabi-based company's shares closed unchanged. For the week, Dubai's index recorded a 1.8% gain, while Abu Dhabi's index rose 0.8%, according to data from LSEG. ($1 = 3.6727 UAE dirham)


Zawya
11-07-2025
- Business
- Zawya
Mideast Stocks: UAE stocks rise as oil gains on IEA's market outlook
Stock markets in the United Arab Emirates rebounded on Friday, led by gains in oil prices, while U.S. tariffs and possible further sanctions on Russia were also in focus. Crude prices rose after the International Energy Agency said on Friday the global oil market may be tighter than it appears, with demand supported by peak summer refinery runs to meet travel and power-generation. Brent crude was up 0.5% at $68.99 a barrel as of 1110 GMT. Dubai's main market rose by 0.4%, hitting a fresh 17-year peak as its upward momentum entered into a third straight week of gains. Real estate stocks also drove gains in the index, with market heavyweight Emaar Properties advancing 1.4%, while business park operator Tecom Group added 1.8%. Among financials, Ajman Bank was one of the top performers, jumping 3.4% after the Ajman government raised its stake in the lender to 31.1%. Abu Dhabi's benchmark index inched 0.2% higher, supported by a 2.5% increase in IHC-owned investment firm Multiply Group and 2.4% rise in real estate giant Aldar Properties. Separately, Adnoc Gas signed a three-year LNG supply agreement worth AED 1.5 billion ($408.42 million) with Germany's SEFE, although the Abu Dhabi-based company's shares closed unchanged. For the week, Dubai's index recorded a 1.8% gain, while Abu Dhabi's index rose 0.8%, according to data from LSEG. ($1 = 3.6727 UAE dirham)


Business Recorder
11-07-2025
- Business
- Business Recorder
UAE stocks rise as oil gains on IEA's market outlook
Stock markets in the United Arab Emirates rebounded on Friday, led by gains in oil prices, while U.S. tariffs and possible further sanctions on Russia were also in focus. Crude prices rose after the International Energy Agency said on Friday the global oil market may be tighter than it appears, with demand supported by peak summer refinery runs to meet travel and power-generation. Brent crude was up 0.5% at $68.99 a barrel as of 1110 GMT. Dubai's main market rose by 0.4%, hitting a fresh 17-year peak as its upward momentum entered into a third straight week of gains. Real estate stocks also drove gains in the index, with market heavyweight Emaar Properties advancing 1.4%, while business park operator Tecom Group added 1.8%. Among financials, Ajman Bank was one of the top performers, jumping 3.4% after the Ajman government raised its stake in the lender to 31.1%. Gulf stocks steady as investors await clarity on US trade policies Abu Dhabi's benchmark index inched 0.2% higher, supported by a 2.5% increase in IHC-owned investment firm Multiply Group and 2.4% rise in real estate giant Aldar Properties. Separately, Adnoc Gas signed a three-year LNG supply agreement worth AED 1.5 billion ($408.42 million) with Germany's SEFE, although the Abu Dhabi-based company's shares closed unchanged. For the week, Dubai's index recorded a 1.8% gain, while Abu Dhabi's index rose 0.8%, according to data from LSEG. ---------------------------------- ABU DHABI rose 0.2% to 10,065 DUBAI up 0.4% to 5,855 ----------------------------------


Zawya
28-05-2025
- Business
- Zawya
Himatrix launches key phase of Dubai Industrial City R&D unit
Himatrix Group, a leading industrial equipment supplier in Dubai, has inaugurated the first phase of its application lab, research, and training centre at Dubai Industrial City. Spanning 45,000 sq ft, the key facility will support its 100-strong workforce. Spanning 45,000 sq ft, the facility at Dubai Industrial City, part of Tecom Group, will support Himatrix Group's vision for growth and expansion during 2024 in regional and international markets by leveraging the district's strategic geographic location and links to regional and global transportation hubs, including Jebel Ali seaport, Al Maktoum International Airport, intra-regional highway networks and soon, an Etihad Rail freight terminal. Himatrix Group is the parent company of entities including Himatrix Measurements Equipment's, Himatrix Measurement Laboratory, Matrix Packing Materials Manufacturing, and Icpro Technologies. With state-of-the-art technology installed at the facility, the new hub is designed to accommodate Himatrix Group's planned recruitment of additional specialists to support its 100-strong workforce, which will be based at the new centre. "Industrialisation-led economic growth requires that manufacturers have access to an environment that not only encourages innovation but also empowers local production," said Saud Abu Alshawareb of Dubai Industrial City. "Himatrix Group's inauguration at Dubai Industrial City is a testament to market confidence in our ecosystem, which embodies the goals of the Operation 300bn, Make it in the Emirates, and Dubai Economic Agenda 'D33' strategies to promote the manufacturing sector's expansion in the UAE and beyond," stated Alshawareb. "Such specialised laboratories strengthen the industrial cycle that our ecosystem offers to its customers, and we welcome Himatrix Group to unlock opportunities and target further growth from its new base at our district," he added. The company plans to expand its partnerships with global leaders in the field of instrumentation engineering, such as Radwag, Sciex, Ametek, Kruss and Wipotec, and present them with new technology opportunities, through the facility. Himatrix Group Founder and Managing Director Nadeer Ali said: "Innovative ventures such as our new facility at Dubai Industrial City will provide our Middle East customers with unparalleled service quality, setting new benchmarks in customer service not only for the pharmaceutical sector but also for other industries requiring advanced measurement technologies." On its new facility, Ali said: "For us, it represents not just a space for further innovation but more significantly, another step toward excellence." "This facility is a crucial part of our mission to deliver exceptional solutions for our clients and guide them through the latest trends and updates in the realm of mass measurement metrology, analytical science, and physical testing," he added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (


Trade Arabia
27-05-2025
- Business
- Trade Arabia
Himatrix launches key phase of Dubai Industrial City R&D unit
Himatrix Group, a leading industrial equipment supplier in Dubai, has inaugurated the first phase of its application lab, research, and training centre at Dubai Industrial City. Spanning 45,000 sq ft, the key facility will support its 100-strong workforce. Spanning 45,000 sq ft, the facility at Dubai Industrial City, part of Tecom Group, will support Himatrix Group's vision for growth and expansion during 2024 in regional and international markets by leveraging the district's strategic geographic location and links to regional and global transportation hubs, including Jebel Ali seaport, Al Maktoum International Airport, intra-regional highway networks and soon, an Etihad Rail freight terminal. Himatrix Group is the parent company of entities including Himatrix Measurements Equipment's, Himatrix Measurement Laboratory, Matrix Packing Materials Manufacturing, and Icpro Technologies. With state-of-the-art technology installed at the facility, the new hub is designed to accommodate Himatrix Group's planned recruitment of additional specialists to support its 100-strong workforce, which will be based at the new centre. "Industrialisation-led economic growth requires that manufacturers have access to an environment that not only encourages innovation but also empowers local production," said Saud Abu Alshawareb of Dubai Industrial City. "Himatrix Group's inauguration at Dubai Industrial City is a testament to market confidence in our ecosystem, which embodies the goals of the Operation 300bn, Make it in the Emirates, and Dubai Economic Agenda 'D33' strategies to promote the manufacturing sector's expansion in the UAE and beyond," stated Alshawareb. "Such specialised laboratories strengthen the industrial cycle that our ecosystem offers to its customers, and we welcome Himatrix Group to unlock opportunities and target further growth from its new base at our district," he added. The company plans to expand its partnerships with global leaders in the field of instrumentation engineering, such as Radwag, Sciex, Ametek, Kruss and Wipotec, and present them with new technology opportunities, through the facility. Himatrix Group Founder and Managing Director Nadeer Ali said: "Innovative ventures such as our new facility at Dubai Industrial City will provide our Middle East customers with unparalleled service quality, setting new benchmarks in customer service not only for the pharmaceutical sector but also for other industries requiring advanced measurement technologies." On its new facility, Ali said: "For us, it represents not just a space for further innovation but more significantly, another step toward excellence."