Aramex shares rise as Egypt deliveries resume

MARKETS UPDATE: Dubai shares gain at the open after Aramex announces that it has resumed operations in Egypt, according to a filing to the Dubai Financial Market - with video.

Aramex rose at the open after the Middle East's largest courier company disclosed to the Dubai bourse that it had resumed its Egypt operations

Shares of the Middle East's largest courier company gained 2.5 per cent to Dh2.00 at 10:30. The Dubai Financial Market General Index gained 0.6 per cent to 1616.18.

Banking stocks listed in Dubai moved up 1.1 per cent even after the central bank said provisions for bad loans increased to Dh44.3bn in December from Dh41.2bn in November, according to the website. Emirates NBD gained 2.8 per cent to Dh3.24 a share.

National General Insurance will be suspended today from 12 pm for its board of director meeting. Trading will resume once the results are disclosed, it said in a filing to the stock exchange.

The Abu Dhabi Securities Exchange General Index remained unchanged at 2673.68.

Elsewhere in the region, Kuwait's measure remained unchanged at 6745.50. Bahrain's index gained 0.5 per cent to 1450.76. Oman's index remained unchanged at 6888.14. Qatar's measure gained 1.4 per cent to 8890.58. The Saudi Tadawul added 0.8 per cent to 6584.85.

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Editor's Pick - Special Report / Egypt - the economic road back.

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