With US$67.102 billion, the UAE's market capitalization has emerged as second highest in the Arab world growing at 50.30 per cent at the end of third quarter of the year 2004. This high place earlier had been retained by Kuwait with US$65.911 billion market capitalization growing at 10.72 per cent during the same period. The Kingdom of Saudi Arabia has the largest market capitalization of US$237.580 billion in the Arab world growing at 51.03 per cent during the first three quarters of the financial year 2004, says a study carried out by Abu Dhabi Financial Services Company and reported by the UAE news agency "WAM." The position of Kuwait, which has now been succeeded by the UAE for the second highest position, registered a market capitalization of US $65.102 billion during the period under review. During 2004, the market capitalization growth figures recorded a frog-jump, not only in the UAE but also across the buoyant GCC region as figures have been growing spectacularly depicting the huge underlying potential of the world's most rapidly growing economic zone. --MORE 1133 Local Time 0833 GMT
