07:51 AM EDT, 10/21/2026 (MT Newswires) -- Stock markets in the United Arab Emirates closed in opposite directions as investors shifted focus to the corporate earnings season, kicked off by third-quarter earnings reports from two of the region's top lenders. At the close of Wednesday trading, the FTSE ADX General Index fell 0.592%, while the DFM General Index added 0.433%. Emirates NBD Bank (DFM:EMIRATESNBD) reported an attributable profit of 6.33 billion Emirati dirhams for the third quarter, down from 6.42 billion dirhams a year ago amid higher operating expenses, impairment, and hyperinflation costs. Emirates NBD Bank closed the session 1.33% higher. Meanwhile, Dubai Islamic Bank's (DFM:DIB) attributable profit for the same quarter dropped to 1.80 billion dirhams from 1.86 billion dirhams previously, driven by lower interest income and higher provision costs. Dubai Islamic Bank stocks gained 1.98% at closing. "The first nine months of 2026 were marked by regional geopolitical tensions and continued uncertainty across global markets. Against this backdrop, DIB remained firmly focused on serving its customers, delivering high-quality products and services, and maintaining disciplined execution of its strategy, supported by a strong and resilient financial position. The Bank's financial performance reflects these priorities. Total assets reached D 427.0 billion, while its capital adequacy ratio (CAR) strengthened to 16.5%," Dubai Islamic Bank's Chairman Fadhel Abdulbaqi Al Ali commented. In other news, Dubai Chambers inked two agreements with the Greater Bay Area Importers and Exporters Association and the Guangdong-Hong Kong-Macao Greater Bay Area Entrepreneurs Alliance business associations in China to boost trade and investment ties and offer new opportunities to Dubai and Chinese companies. On the geopolitical front, Iran told Pakistan's army chief Asim Munir that talks with the US will not take place until its demands are met. Meanwhile, a Tuesday report by Reuters stated that the Middle Eastern country is "deliberately" prolonging the negotiations to exert political pressure on US President Donald Trump ahead of the November midterm elections.

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