Jan. 19--KUWAIT STOCK MARKET STILL UNDER PRESSURE: The Kuwait Stock Exchange (KSE) market index dipped 1.83 percent, a bit more than yesterday. Almost 72mn shares changed hands. Global Investment House ('Global') gained 6.25 percent on heavy volumes. Global is currently restructuring a syndicated US$200mn -loan under the lead of Bank HSBC, which it was unable to pay back last December. Standard and Poor's downgraded Global to SD/SD (Selective Default). Shares of Burgan Holding Group have lost 22.72 percent.

DUBAI FINANCIALS DIP, ABU DHABI REBOUNDS: The Dubai Financial Market continued its lacklustre trading from yesterday, while the Abu Dhabi Securities Exchange regained territory. The DFM General Index closed 1.97 percent lower at 1'605.53 points. Arabtec lost most (off 9.68 percent), followed by Takaful EM (down 5.61 percent) and the DFM (5.13 percent lower). The DFM is the only Arab stock market which has part of its shares publicly listed. Ekttitab Finance and Investment rose by 7.32 percent. Shuaa Capital (up 5 percent) and investment firm GGICO (3.66 percent higher) also gained ground. The ADX General Index (up 1.28 percent) was lifted mainly by the sectors Telecommunication (plus 2.36 percent) and Energy (2.14 percent higher). The latter performance coincides with the World Future Energy Summit which kicked off in the capital today. Sharjah cement closed as the top gainer with a plus of 9.91 percent, while Qatar Telecom lost nearly a tenth of its value.

UAE GDP TO SLOW TO 1.5 PERCENT: According to Robin Bew, editorial director and chief economist at the Economist Intelligence Unit, GDP growth in the UAE will slow to 1.5 percent. This represents a dramatic change from the 9 percent seen in recent years. 'Dubai is particularly vulnerable to a sharp slowdown in retail sales and tourism. As a result, we expect the Dubai economy to contract,' he said.

DOHA FINANCIAL STOCKS POST LOSSES: The Doha Securities Market (DSM) lost 3.94 percent due to significant setbacks among the financial sector. Al Khaliji Commercial Bank lost 9.09 percent, while Doha Bank and Commercial Bank of Qatar retreated 2.62 percent and 1.32 percent, respectively. The Bahrain Stock Exchange (BSE) fell by 0.62 percent, with Al Salam Bank losing 2.11 percent.

KUWAIT STOCK EXCHANGE RETREATS BY 1.4 PERCENT: The Kuwait Stock Exchange (KSE) Market Index lost 1.4 percent on thin trading today. A total of 85,810 shares changed hands, with industrial operator Mena Holding posting the biggest gain (14.42 percent), while Investors Holding lost 10.87 percent.