x Abu Dhabi, UAE Friday 21 July 2017

Abu Dhabi's Taqa sells its stake in Tesla Motors

Markets Update:Abu Dhabi National Energy Company, also known as Taqa, plans to acquire a 50 per cent interest in an independent power project in the Kurdish region of Iraq.

Abu Dhabi National Energy Company, also known as Taqa, has completed the sale of its stake in Tesla Motors for Dh415 million.

The company also said it plans to acquire a 50 per cent interest in an independent power project in the Kurdish region of Iraq, according to a statement to the Abu Dhabi bourse website.

Elsewhere on the bourses, Emaar Properties, the real estate development company, has published its candidates for membership of its board of directors for shareholders to vote on at the upcoming annual general meeting.

The list in full is available on the Dubai stock exchange. Emaar stock fell 0.31 per cent to Dh3.24 in early trading.

Financials weighed on the Abu Dhabi Securities Exchange General Index this morning. Insurance House was down 2.06 per cent. First Gulf Bank fell 0.72 per cent.

Abu Dhabi Commercial Bank was 0.61 per cent lower. National Bank of Abu Dhabi fell 0.46 per cent. The falls helped take the benchmark index down 0.05 per cent at 2,557.70.

Early losses were heavier on the Dubai Financial Market General Index, which fell 0.69 per cent to Dh1,674.92. Shuaa Capital was the biggest faller in early trading, shedding 4.14 per cent.

 

lmiller@thenational.ae