The UAE Purchasing Managers' Index and stock markets rose, supported by the real estate, aviation and banking sectors

The Standard & Poor's Global Purchasing Managers' Index in the UAE rose to 55.3 points in August, compared to 52.7 points in July, reflecting continued improvement in non-oil private sector activity.

In the Dubai Financial Market, the general index rose 0.7%, amid gains across various sectors, supported mainly by the rise in the leading stock of Emaar Properties by 2.2%, while Air Arabia stock rose by 2.1%.

Air Arabia, the low-cost carrier, announced that it will increase the number of its flights to Bangkok by four daily flights from Sharjah, in a step that strengthens its flight network to the Thai destination.

In Abu Dhabi, the general market index rose by 0.5%, supported by major bank shares, as the shares of “First Abu Dhabi Bank”, the largest bank in the Emirates, rose by 1.5%, while the shares of “Abu Dhabi Commercial Bank” increased by 1.2%.

Aldar Properties' shares also rose by 1.6%, after the company completed mortgage financing for its clients who are purchasing properties under construction, within the financing framework recently launched by the Abu Dhabi Real Estate Center.