Earlier in the day, Hezbollah has confirmed the death of its leader Hassan Nasrallah
Emaar’s target price was halved to Dh7.70 from Dh15; Aldar was cut to Dh10 from Dh16.60, while Sorouh was cut ot Dh3.70 from Dh5.60.
All three property companies posted lower first quarter earnings compared to a year ago, as the global economic downturn hastily curbed the robust growth experienced by the United Arab Emirates property sector in the last five years.
With thousands of expatriates that had fueled the boom sent home after losing their jobs, the real estate industry is not seen recovering until the latter part of 2009.
Citigroup however, maintained its “buy” recommendation, saying all the negative news in the sector have already been priced in.
It added that credit conditions for government projects since the issuance of a $10-billion bond by Dubai has improved.
Earlier in the day, Hezbollah has confirmed the death of its leader Hassan Nasrallah
Authorities said at least 254 people have died and 65 missing in landslides, floods and lightning strikes since mid-June when the annual monsoon rains started
The Bollywood awards night will see one of the most celebrated actors in the world taking the stage after several years
In an interview ahead of his much-awaited IIFA performance, the Bollywood star talks about embracing fatherhood, his craft and more
The actor, who recently dropped the single 'Ittefaq', shared the stage with 'Challeya' singer Shilpa Rao
Fame is a double-sided coin, she explains
The mission has supported more than 4,000 service seekers as part of this initiative
Experts recommended exploring the idea of further reducing working hours to see if it brings even more benefits