Amlak wins Dh780m arbitration case, shares jump nearly 15pc.

Dubai-listed mortgage firm, Amlak Finance, on Tuesday said it has been awarded Dh780 million in an arbitration case, pushing its shares up by nearly 15 percent. The company said the impact of the ruling on its financial statements will not materialise this year. "Amlak Finance has been awarded Dh780 million in an arbitration administered by the Dubai International Arbitration Centre since 2013. The ruling has also awarded Amlak Finance its legal costs and additional compensation," it said in a statement posted on Dubai Financial Market, where it is listed. Its shares jumped 14.7 per cent or Dh0.044, becoming the biggest gainer of the day to close at Dh0.454 on Tuesday.

It was the most active stock as its counter recorded 36.39 million shares worth Dh12.18 million...