Feb. 18--DOHA STOCKS RETREAT FURTHER: The DSM Index plummeted by 4.18 percent amid heavy losses among banks and industry shares, closing at 4,934.66 points. Higher volumes confirmed the overall negative mood at the Qatari exchange. Shares of bank CBQ lost almost a tenth of its value, along with National Cement Co. Only two securities advanced. The index is currently approaching its January-low, which stands at 4,550 points.

ABU DHABI SHARES GAIN SLIGHTLY: The ADX General Index surged 0.10 percent to 2,203.28 points. Finance House advanced further, gaining 9.85 percent. The Energy sector retreated amid profit takings (off 2.13 percent). Some 132m shares changed hands.

DUBAI STOCK MARKET BULLISH: Investors were on a buying spree today, despite negative input from the US, Asia and Europe. The DFM General Index jumped 1.81 percent, closing at 1,519.44 points, supported by high trading volumes. The Finance and Investment Index surged by 7.15 percent, with shares of DFM (up 14.81 percent) and Takaful EM (7.84 percent higher) being among the top gainers. Construction and real estate securities were also demanded: Arabtec gained 12.84 percent, Union Properties surged by 12.12 percent. Only four stocks declined, while 19 advanced.

SAUDI ARABIA: NO NEED TO BORROW TO COVER DEFICIT: Saudi Arabia sees no need to borrow to cover a projected budget deficit this year or any shortfall next year, Finance Minister Ibrahim al-Assaf said on Tuesday. He told Reuters the kingdom's vast financial reserves would be its 'first line of defence' to meet any deficits, adding public debt had fallen to below 12 percent of gross domestic product from over 100 percent a few years ago.

BORSE DUBAI TO GET FEDERAL BAILOUT: The UAE government is to give $1bn to Borse Dubai to avoid the company having to default on a $2.5bn loan it is trying to refinance, MEED has reported. Sources say that the refinancing has only managed to secure $1.25bn of commitments from commercial banks, although some further commitments from banks could bring the final bank tranche to $1.5bn. To avoid a funding shortfall arising in the deal, a federal government institution will supply the additional financing, meaning that Borse Dubai will be able to make the repayment scheduled for 23 February.

GLOBAL BUYS 17 PERCENT STAKE IN VIETNAM FIRM: Global Investment House on Tuesday said its Global Asia Real Estate Fund has acquired a 17 percent stake in RC Real Estate Development and Finance Corporation (Refico) in Vietnam which will be disbursed in tranches. Refico is a Vietnamese property development company established in 2003. The company is based in Ho Chi Minh City.

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