Etisalat and Ahmed Shehada

Gulf Cooperation Council: The emirate ADX General Index increased 0.2 per cent, while Dubai DFM General Index and Qatar QE Index fell 0.8 per cent each, according to Business Week. Saudi Arabia Tadawul All Share Index and Bahraini stocks were little changed. Etisalat rose 1.4 per cent to 14.75 dirhams as of 12:01 p.m. in Abu Dhabi, bringing its four-day increase to 11 per cent. Etisalat has been doing quite well at a time of market instability in the region," said Ahmed Shehada, the head of advisory and institutions at NBAD Securities, the brokerage of the United Arab Emirates’ biggest bank. Most other markets in the six-nation Gulf Cooperation Council reacted to a drop in one of the region biggest sources of revenue and uncertainty over whether the Federal Reserve will raise interest rates. It would make it interesting for a lot of global pension funds." The government-controlled company, which is 60 per cent owned by the UAE sovereign wealth fund and has the second- biggest weighting on Abu Dhabi index, will allow non-UAE nationals to own its shares starting on 15 September. (news.financializer.com). As reported in the news.