logo
Mideast Stocks: Dubai and Abu Dhabi indexes log sixth straight week of gains

Mideast Stocks: Dubai and Abu Dhabi indexes log sixth straight week of gains

Zawya23-05-2025
Dubai's main share index and Abu Dhabi's benchmark index logged its sixth straight weekly gain, each closing the week 0.12% higher.
On Friday, Dubai's main share index closed up 0.21% while Abu Dhabi's benchmark was flat.
Dubai's benchmark index surged to a record high last Friday and continued its upward momentum earlier this week, fuelled by a wave of business agreements between the U.S. and the UAE announced during President Donald Trump's recent Gulf tour. ABU DHABI was flat at 9,665.34
DUBAI up 0.21% to 5,464.16
(Reporting by Chandini Monnappa in Bengaluru; Editing by Leroy Leo)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

UAE, Hungary leaders explore new avenues for partnership
UAE, Hungary leaders explore new avenues for partnership

TAG 91.1

time26 minutes ago

  • TAG 91.1

UAE, Hungary leaders explore new avenues for partnership

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Hungarian President Tamás Sulyok have held high-level talks in Budapest, focusing on strengthening cooperation between the two countries. The discussions, held at the Hungarian Parliament Building, covered key sectors including the economy, renewable energy, trade, investment and culture. Both leaders reaffirmed their commitment to deepening bilateral ties and exploring new opportunities for collaboration. Sulyok expressed hope that the visit would further advance relations, while Sheikh Mohamed highlighted the shared values and mutual respect that underpin the UAE-Hungary partnership. Following the talks, His Highness signed the VIP guestbook, expressing his appreciation for the warm welcome and the growing ties between the two nations. The two leaders also exchanged symbolic gifts reflecting their countries' rich heritage. The meeting was attended by senior officials from both sides. Following the talks, Sheikh Mohamed concluded his official visit and departed Budapest. — محمد بن زايد (@MohamedBinZayed) July 18, 2025

UAE, Turkey sign 7 bilateral agreements during Sheikh Mohamed's visit
UAE, Turkey sign 7 bilateral agreements during Sheikh Mohamed's visit

Khaleej Times

time26 minutes ago

  • Khaleej Times

UAE, Turkey sign 7 bilateral agreements during Sheikh Mohamed's visit

UAE President Sheikh Mohamed bin Zayed Al Nahyan paid a state visit to Turkey on the occasion of the first meeting of the Supreme Strategic Committee between the two countries, which was held in Ankara on July 16. The meeting of the Supreme Strategic Committee reflected the commitment of both countries to strengthening bilateral relations and expanding close cooperation in various areas of common interest. Seven bilateral agreements and memoranda of understanding were signed during this visit, an official statement said. The discussions covered several areas of cooperation that have witnessed rapid growth in recent years, including the economy, trade, defense, innovation, cybersecurity, industry, technology, education, culture, energy, including renewable energy, environment, transportation, infrastructure, agriculture, and tourism. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Within the framework of the Comprehensive Economic Partnership Agreement, and based on bilateral economic, trade, and investment mechanisms, including the Joint Economic Committee and the Joint Economic and Trade Committee, the two sides discussed ways to enhance investment and trade exchanges, including exploring opportunities to establish integrated and flexible trade routes, in addition to exploring areas of cooperation to promote sustainable economic growth and provide facilities to support regional and international trade. They also exchanged views on enhancing cooperation between the public and private sectors in the two countries, with the aim of consolidating bilateral partnerships and supporting cooperation opportunities with other countries. Their commitment to enhancing cooperation in the energy sector was also renewed, emphasizing the pivotal role of sustainable, secure, and diversified energy resources in driving economic growth and enhancing the ability to adapt to climate change. They emphasized their shared aspirations to explore practical opportunities to support the energy transition process, in line with national priorities. In this regard, UAE and Turkey welcomed the global goal contained in paragraph (28) of the "Global Stocktake" outcomes adopted at the Conference of the Parties (COP28), which is to double the rate of improvement in global energy efficiency and triple the production capacity of renewable energy by 2030. They affirmed their keenness to contribute to achieving this goal through measures implemented at the national and bilateral levels. The two sides renewed their joint commitment to strengthening bilateral cooperation based on mutual trust and friendly ties, especially in the fields of renewable energy and hydrocarbons, through the implementation of joint projects, to the benefit of both countries. They also emphasized the importance of the UN Water Conference 2026, hosted by the UAE in partnership with the Republic of Senegal, scheduled to be held in the UAE in December 2026. The conference highlights the importance of accelerating the implementation of Sustainable Development Goal 6, to ensure access to water and sanitation for all and their sustainable management. The two sides also commended the Mohammed bin Zayed Water Initiative for its outstanding contributions to promoting technological innovation to address challenges related to water scarcity. The two sides emphasized the importance of maintaining the remarkable progress in bilateral relations, highlighting emerging and advanced technologies as a promising area for future cooperation. They also emphasized the importance of highlighting the pivotal and dynamic role of young, highly educated cadres in both countries in driving innovation, enhancing competitiveness, and promoting sustainable economic growth. Both sides reiterated their commitment to strengthening cooperation in the field of advanced digital technologies. The two leaders emphasized the importance of cooperation in cultural and social fields and agreed to enhance exchanges that contribute to strengthening the bonds of brotherhood between the Emirati and Turkish peoples. Both sides reiterated their commitment to enhancing cooperation in the fields of defense and security through capacity building and the exchange of expertise and knowledge. This historic visit marked a pivotal moment for discussing bilateral issues and regional developments. During the visit, both sides affirmed their shared commitment to working together to promote dialogue and the principles of international law, reflecting the two countries' role in supporting regional security, stability, and prosperity, thus contributing to an environment of peace, stability, security, and prosperity in the region. Sheikh Mohamed bin Zayed Al Nahyan, Ruler of Abu Dhabi, expressed his deep gratitude to the Turkish President, for the warm welcome he and his accompanying delegation received during their visit to Turkey. They agreed to hold the next meeting of the Supreme Strategic Committee in Abu Dhabi in 2026, with the date to be determined.

UAE, Hungarian Presidents strengthen cooperation
UAE, Hungarian Presidents strengthen cooperation

Sharjah 24

time28 minutes ago

  • Sharjah 24

UAE, Hungarian Presidents strengthen cooperation

The talks took place at the Hungarian Parliament Building, where President Tamás Sulyok welcomed His Highness Sheikh The Hungarian President expressed his hope that the visit would contribute to further advancing bilateral ties and expanding avenues of cooperation in areas that serve the mutual interests of both nations. His Highness Sheikh Mohamed bin Zayed affirmed that the UAE and Hungary share a friendship and cooperative relationship based on mutual respect and a joint commitment to progress. He noted that these growing bilateral ties aim to support the aspirations of both nations and their peoples for development and prosperity. Both sides reaffirmed their commitment to strengthening UAE-Hungary relations and exploring new opportunities for mutually beneficial cooperation across a range of sectors. His Highness wrote an entry in the VIP guestbook expressing his pleasure to be visiting Hungary and noting the significant progress witnessed in relations between the two countries. He highlighted the UAE's keenness to continue working together to strengthen ties in a way that serves the shared development goals of both nations, and he wished Hungary, its leadership, and its people continued prosperity and success. His Highness and the President of Hungary also exchanged symbolic gifts reflecting the culture and rich heritage of their respective nations. The meeting was attended by the delegation accompanying His Highness the UAE President, along with a number of senior Hungarian officials. Following the meeting, His Highness Sheikh Mohamed bin Zayed Al Nahyan departed Budapest, concluding his official visit to Hungary.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store