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ADIB, Al Meera, Al-Enma’a, Kuwait Projects: Gulf Equity Preview

Sept. 20 (Bloomberg) -- The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.

The DFM General Index rose 2.2 percent, while Qatar’s QE Index advanced 0.5 percent. The Kuwait SE Price Index retreated 0.7 percent and Saudi Arabia’s Tadawul All Share Index slipped 0.1 percent.

Abu Dhabi Islamic Bank PJSC (ADIB UH): The United Arab Emirates’ second-biggest bank complying with Islamic finance rules will provide $100 million in financing to National Petroleum Construction Co. to fund the construction of a crane barge. The shares decreased 0.4 percent to 2.61 dirhams.

Al-Enma’a Real Estate Co. (ERESCO KK): The Kuwaiti property investment company won an 11.4 million-dinar ($40 million) government contract. The shares declined 1.6 percent to 62 fils.

Al Meera Consumer Goods Co. (MERS QD): The company that operates a chain of stores in Qatar appointed Guy Sauvage as Chief Executive Officer. The shares rose 4.1 percent to 57.8 riyals.

Kuwait Projects Co. (KPROJ KK): The country’s biggest privately owned investment company sold a 39.2 percent stake in Gulf Insurance Co. to Fairfax Financial Holdings Ltd. for $208.6 million. The shares fell 2.2 percent to 455 fils.

To contact the reporter on this story: Zahra Hankir in Dubai

To contact the editor responsible for this story: Claudia Maedler at

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