UAE seen consolidating; Asian dip to weigh

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Dubai's benchmark has gained about 25 percent so far this year, and analysts are expecting a consolidation.

Dubai's benchmark has gained about 25 percent so far this year, and analysts are expecting a consolidation.

UAE markets are likely to take a breather from the recent bull run and a dip in Asian shares would weigh as renewed concerns arise about Chinese growth.

"I don't see clear-cut global sentiment suddenly turning, but local variables are not what's driving the markets," says Ibrahim Masood, senior investment officer at Mashreq. "It's wise to keep an eye on the rest of the world, like China. What's happens there will ultimately decide how our markets will behave."

Dubai's benchmark has gained about 25 percent so far this year, and analysts are expecting a consolidation.

Abu Dhabi National Energy on Wednesday said it expects to increase capital spending to between US$2bn to US$2.2bn this year as it pushes ahead with expansion plans.

UAE's economic growth is expected to slow to 2.3 percent this year from an estimated 4.9 percent in 2011, the International Monetary Fund said on Wednesday.

US April crude rose 31 cents to US$105.75 a barrel by 0312 GMT, while in London ICE Brent crude for April delivery edged up 3 cents to US$125 a barrel.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Do celebrity branded projects ever work?

Do celebrity branded projects ever work?

The long list of celebrity-endorsed real estate developments...

1
Smoke-free Dubai - the big debate

Smoke-free Dubai - the big debate

Will the emirate ever be smoke free? We spark up the conversation...

4
Is this the end of the Gulf’s Indian cash dash?

Is this the end of the Gulf’s Indian cash dash?

From currency woes to taxation loopholes closing and a clampdown...

2
Most Discussed
  • 10
    UAE teens among the highest for obesity rates

    Everyone in UAE knows that biggest is best.

    UAE may not light up the international league tables in standard of living, education standards, press... more

    Friday, 29 August 2014 4:20 PM - Proud UAEer
  • 9
    Saudi Arabia seeks talks on hiring of Sri Lankan maids

    perhaps the unemployed saudi men or the millions of women who are not allowed to work could pick up a broom and start sweeping their own houses. more

    Sunday, 31 August 2014 3:28 PM - nice
  • 9
    Smoke-free Dubai - the big debate

    Surprisingly the only studies that show a negative financial impact of the smoking ban on the hospitality industry are sponsored by tobacco companies ... more

    Wednesday, 27 August 2014 4:19 PM - Telcoguy
  • 24
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 23
    Baby NOT on board?

    Some of you cry babies need to get your own personal apartments on the plane ! You cry more then the babies I have seen in my travels. LOL more

    Thursday, 28 August 2014 9:10 AM - Jim
  • 21
    Israel “must be punished” over Gaza, says Dubai police chief

    This high moral ground that Mick is talking abt sound very familiar. May I remind Mick that the US & its British ally alone killed over 1 million innocent... more

    Thursday, 7 August 2014 4:12 PM - Mathew