Emirates NBD surges after profit forecast of Islamic finance unit
Emirates NBD surged after the forecast of its Islamic unit that profits would double. The stock gained 6.4% reaching Dh3.31 a share, which is the biggest increase since April 2011. On Wednesday, about 1.3 million shares were traded, which is three times the three-month daily average. The stock is said to be the biggest gainer on the Dubai Financial Market General Index. Emirates Islamic Bank will look for ways to boost net income to Dh150 million this year increasing it from Dh80m in 2012.