Dubai Shares Fall to Week Low as Oil Drops on China; Qatar Gains
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Dubai’s benchmark stock index fell to the lowest in more than a week as oil prices dropped after trade data signaled that growth in China, the world’s second-biggest oil consumer, is slowing.
Dubai Investments PJSC, which owns stakes in 40 businesses, declined to the lowest level this month. Shuaa Capital PSC, a Dubai-based investment bank, closed at the lowest since February. The DFM General Index lost 0.2 percent to 1,488.39, the lowest since July 2, at the 2 p.m. close in Dubai. Royal Bank of Scotland Group Plc, Commerzbank AG and Standard Bank Group Ltd. abandoned talks with Dubai Group to restructure $10 billion of debt after failing to reach an agreement, two people familiar with the matter said.