Nov. 27--UAE MARKETS FINISH HIGHER: The Dubai Financial Market on Thursday gained 3.01 percent to finish on 1,928. Arabtec gained 15 percent for the third consecutive trading session after it said on Tuesday it would raise its capital through a bonus share issue. Emaar climbed nearly 10 percent. In Abu Dhabi, the ADX gained 1.31 percent to end the day on 2,720. Etisalat rose 2.92 percent, while Sorouh Real Estate and Aldar Properties gained 5.3 percent and 3.4 percent respectively.

ACQUISITION OF FOREIGN ASSETS BY GCC TOPS $900BN: The cumulative acquisition of foreign assets by the GCC exceeded $900bn in the five years ended June 2008, according to a report by Samba Financial Group. The US has accounted for almost half the foreign assets accumulated during the past five years, the report said. The remaining half flowed to Europe, the Middle East, North Africa, and East Asia. GCC foreign asset accumulation in 2008 is likely to reach around $390bn.

JORDANIAN EXPORTS TO US DOWN 14.8 PERCENT: Jordan's exports to the US during 2008 dropped by 14.8 percent, but the decline does not reflect a weakening in ties between the two countries, said the US Ambassador to Jordan Robert Beecroft. He credited the decline to the financial crisis and said it is also a reflection of weakening demand in the US for particular products. Exports to the US from Jordan are down 14.8 percent in 2008, reported Jordan Times.

BAHRAIN'S INFLATION RISES TO 4.4 PERCENT: Annual inflation in Bahrain jumped to 4.4 percent in October from 3.2 percent in September, according to new government data. The consumer price index in the kingdom rose to 108.87 points compared with 104.34 points a year earlier.

PRIVATE SECTOR HOLIDAY ON TUESDAY IN UAE: The private sector in the UAE will get a one-day holiday on Tuesday, December 2, on the occasion of 37th UAE National Day.

DIC LOSES $3BN IN ASSETS: Sameer Al Ansari, CEO of Dubai International Capital, said DIC's assets under management have dropped by as much as $3bn as a result of the global financial crisis, Khaleej Times has reported. Al Ansari said assets previously estimated to be worth $12-13bn managed by DIC were around $10bn. DIC, the investment arm of Dubai Holding, owns stakes in companies including Daimler, Och-Ziff Capital Management, India's ICICI Bank, Sony Corp. and HSBC Holdings.

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