Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Qatar’s United Development Snaps Losing Streak After 2-Day Drop

Jan. 3 (Bloomberg) -- United Development Co., a Qatari company that invests in energy and infrastructure, advanced the most in a week amid investor speculation that a 16 percent plunge in the previous two days was exaggerated.

The shares climbed 1.3 percent, the biggest intraday gain since Dec. 27, to 23.10 at 1:18 p.m. in Doha. The benchmark QE Index rose 1.1 percent.

United Development tumbled after Qatar’s pension fund said Dec. 28 it seeks to buy 80 million shares at 20 riyals each, or less than the stock’s traded value.

Today’s surge is a “correction,” said Omar Darwish, an equity sales trader at Cairo-based Commercial International Brokerage. “It doesn’t have to fall back to 20 riyals exactly.”

To contact the reporter on this story: Alaa Shahine in Dubai at

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.