Oct. 28--UAE STOCKS END MIXED: The Dubai Financial Market on Tuesday had a slight gain of 9.40 points to close on 2,932. Market heavyweight Emaar ended the day up 3.53 percent. Meanwhile, the Abu Dhabi Securities Index lost 43.39 points, or 1.31 percent, to finish on 3,278.

'COLLECTIVE ACTION' NEEDED TO TACKLE FINANCIAL CRISIS: Deputy US Treasury Secretary Robert Kimmitt said the financial crisis in the United States has ramifications for all countries across the globe, including the Gulf, Bloomberg has reported. He said 'collective action' is needed to end the crisis, which he believes was triggered by inadequate risk management and supervision. The US welcomes investment by sovereign wealth funds, Kimmitt said, and added that Gulf investment is playing a growing role in bolstering America's economy.

DFM, CITIBANK INK DEAL: Dubai Financial Market (DFM) has signed a Depository Participant Agreement with Citibank. The agreement will enable Citibank to provide custody of DFM-listed securities to institutional and international clients, thus helping broaden the exchange's investor base. With the signing of the new DPA, Citibank joins other leading financial institutions that have already signed similar agreements with DFM to provide sophisticated depository participant services to local, regional and global investors, according to a press statement.

SHARIAH-COMPLIANT STOCKS LOSE $5.6TR IN VALUE: A new Standard and Poor's report has found that Shariah-compliant equities worldwide lost over $5.6 trillion in value during the third quarter of this year. However, the latest review of the S&P Global Shariah Index Series said that in most cases, Shariah investors have benefited from their lack of exposure to financials, which has been the focus of the market sell-off. Stocks that comply with Islamic law lost 23.4 percent of their value on a total return basis over the year from last September 30, as measured by the S&P Global BMI Shariah index, covering 52 of the world's largest developed and emerging markets. The non-shariah conventional index, S&P Global BMI, fell 25.3 percent over the same period.

KUWAIT SAYS TRADING WILL NOT BE SUSPENDED: Kuwait's minister of commerce and industry said yesterday there is no possibility that trading will be suspended on the Kuwait Stock Exchange, state news agency KUNA has reported. The Committee on the Stock Market has also ruled out a trading suspension for the exchange, which has lost 10 percent in the last four trading sessions.