Summit Notebook

Exclusive outtakes from industry leaders

Audio – challenging times for Shuaa

By Veronica Brown
March 28, 2007

Shuaa Capital Chief Executive Iyad Duwaji talks about targets for the year ahead. He told Reuters Milddle East Investment Summit that the UAE’s largest investment bank by market value might not reach its 20 percent return on equity target for 2006/07. Shuaa, which has been hit hard by a regional stock market crash, spent 13.47 million UAE dirhams ($3.7 million) to buy back 3 million of its shares at 4.49 dirhams each earlier in March.  

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