Feb. 12--DSM RETREATS SLIGHTLY: There were no sign of a stop of the lacklustre trading today at the Doha stock market, which lost 0.29 percent, closing at 5,243.57 points. Only the industrial sector gained insignificantly. National Cement continued to gain territory (up eight percent). Profit takers sent Doha Bank, which gained during the week, down 1.78 percent.

ABU DHABI CLOSES UNCHANGED: The ADX General Index gained insignificantly, closing at 2,254.55 (up 0.09 percent). Early gains in the opening trading were wiped out during the last hours. Worth mentioning are the performances of the energy sector (up 5.69 percent) and the industrial sector (6.54 percent lower). Winner of the day was Al Khazna Insurance with a plus of nine percent. Banks lost overall, with Invest Bank (off 10 percent), RAK Bank (down 974 percent) and Bank of Sharja (8.94 percent lower) posting the biggest losses.

DUBAI FINANCIAL MARKET GAINS 1.36 PERCENT: The DFM finished the week with a a gain of 1.36 percent, closing at 1,508.86 points, above the support line of 1,500 points. Arabtec once again was among the top performers, advancing by 11.11 percent. According to industry sources, Saudi bargain hunters are increasingly investing in the UAE real estate market. The bullish sentiment during the week, along with higher volumes also pushed DFM shares higher (up 4.72 percent). Emaar Properties, which announced a 2008 annual net operating profit of Dhs.5.578 billion (or US$1.519down, 15 percent from 2007) closed half a percent lower.

DUBAI CHAMBER RELEASES CREDIT RATING REPORT: The Dubai Chamber of Commerce & Industry has released a report on the 5,000 most active Dubai-based enterprises drawn from the Chamber's database. Released by the Credit Rating Service of the Trade and Business Development Department of Dubai Chamber, the rating reports provide credit information about the companies and highlights the background of existing and potential customers, and their ability to meet their financial obligations.

GCC OIL EARNINGS MAY HIT $4.7TR BY 2020: At the OPEC targeted floor price of $50 per barrel, GCC countries will cumulatively earn $4.7 trillion by 2020, which would be 2.5 times their oil earnings over the last 14 years, according to 'Global Megatrends 2009', a report by Ernst & Young. Middle East economies are predicted to be a real growth story for the next few years, even as the region has not been immune to the effects of the global downturn, the report said.

DUBAI FIRMS FACE MOODY'S DOWNGRADE: Moody's says it may downgrade Dubai's banks and government-owned companies if Abu Dhabi chooses to support only its own institutions, reported Bloomberg. 'If a trend of selective treatment within the federation becomes discernible, Moody's stands ready to reduce its high support assumptions for banks and government-owned companies in other emirates outside Abu Dhabi,' Moody's said in a report released today.

INVESTCORP PLANS CAPITAL HIKE: Bahrain-based investment bank Investcorp said it plans to raise at least $250m in capital following losses of $526m to bad investments, reported Retuers. The Bahrain- and London-listed bank said it posted a net loss of $511m in the six months ended Dec. 31 as its portfolio companies were hit by the global economic turmoil.

PRINCE SAUD OPENS OFFICE AT DIFC: Novaar Limited, a Gulf-based family office platform, has announced its formation as a proprietary investment office within the Dubai International Financial Centre (DIFC). Novaar will serve as a turnkey investment management and advisory platform for Prince Saud bin Mansour bin Faisal bin Saud bin Abdul Aziz Al Saud and participating members of his family. Prince Saud bin Mansour was advised in the formation of Novaar by Novati Group International SPC and Harald Quandt Holding.

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