Sukuk issuance is set to rise 6 per cent to around $130 billion (Dh477bn) in 2019, driven by strong activity in Saudi Arabia and Malaysia. AFP
Sukuk issuance is set to rise 6 per cent to around $130 billion (Dh477bn) in 2019, driven by strong activity in Saudi Arabia and Malaysia. AFP
Sukuk issuance is set to rise 6 per cent to around $130 billion (Dh477bn) in 2019, driven by strong activity in Saudi Arabia and Malaysia. AFP
Sukuk issuance is set to rise 6 per cent to around $130 billion (Dh477bn) in 2019, driven by strong activity in Saudi Arabia and Malaysia. AFP

Alwaleed's Kingdom Holding shares drop 7.6 per cent amid Saudi corruption probe


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Shares of Kingdom Holding Company (KHC), the investment vehicle of billionaire businessman Prince Alwaleed bin Talal, dropped to the lowest level on Sunday since 2012, following Saudi media reports of his detention.

The company, which is 95 per cent controlled by Prince Alwaleed, plummeted 9.9 per cent during early trading on Tadawul, as investors reacted to reports of the detention of high profile individuals in the wake of an investigation launched by a newly established anti-corruption committee, chaired by Crown Prince Mohammed bin Salman. The shares regained some ground to close 7.6 per cent down.

On Sunday, the company reported third-quarter net profit of 247.5 million riyals (Dh242.2m) due to an increase in hotel revenues and operating income, compared with a loss of 355m riyals made in the same period a year ago, according to a regulatory filing to the Saudi stock exchange.

The firm had previously reported a 179.9m riyal net profit for the 2016 third quarter, but said in the latest regulatory filing “comparative figures of the same period last year were reclassified to be consistent with current figures”.

It gave no further direct explanation, but noted that KHC – like other companies in Saudi Arabia – switched to IFRS global accounting standards this year.

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Net profit in the third quarter was boosted by an increase in hotel and operating revenues, larger dividend income, and income and gains on investments, as well as increase in other gains, the company said. Revenue increased 76 percent to 550m riyals.

The prince, whose net worth is estimated at US$19 billion in Bloomberg Billionaires Index, holds stakes in various companies across a number of industries which include Twitter, Citigroup, Lyft, Careem, the Four Seasons hotel chain and Accor Hotels.

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

Six large-scale objects on show
  • Concrete wall and windows from the now demolished Robin Hood Gardens housing estate in Poplar
  • The 17th Century Agra Colonnade, from the bathhouse of the fort of Agra in India
  • A stagecloth for The Ballet Russes that is 10m high – the largest Picasso in the world
  • Frank Lloyd Wright’s 1930s Kaufmann Office
  • A full-scale Frankfurt Kitchen designed by Margarete Schütte-Lihotzky, which transformed kitchen design in the 20th century
  • Torrijos Palace dome
Brief scoreline:

Al Wahda 2

Al Menhali 27', Tagliabue 79'

Al Nassr 3

Hamdallah 41', Giuliano 45 1', 62'

RACE CARD

6.30pm: Al Maktoum Challenge Round-3 – Group 1 (PA) $65,000 (Dirt) 2,000m

7.05pm: Handicap (TB) $65,000 (Turf) 1,800m

7.40pm: Meydan Classic – Listed (TB) $88,000 (T) 1,600m

8.15pm: Nad Al Sheba Trophy – Group 3 (TB) $195,000 (T) 2,810m

8.50pm: Dubai Millennium Stakes – Group 3 (TB) $130,000 (T) 2,000m

9.25pm: Meydan Challenge – Listed Handicap (TB) $88,000 (T) 1,400m

Results

5pm: Handicap (PA) Dh80,000 (Turf) 1,600m; Winner: Nadhra, Fabrice Veron (jockey), Eric Lemartinel (trainer)

5.30pm: Maiden (PA) Dh80,000 (T) 1,400m; Winner: AF Dars, Tadhg O’Shea, Ernst Oertel

6pm: Handicap (PA) Dh80,000 (T) 1,400m; Winner: AF Musannef, Tadhg O’Shea, Ernst Oertel

6.30pm: Handicap (PA) Dh80,000 (T) 1,200m; Winner: AF Taghzel, Malin Holmberg, Ernst Oertel

7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m; Winner: M’Y Yaromoon, Khalifa Al Neyadi, Jesus Rosales

7.30pm: Handicap (TB) Dh100,000 (PA) 1,400m; Winner: Hakeem, Jim Crowley, Ali Rashid Al Raihe

The biog

Name: Dr Lalia Al Helaly 

Education: PhD in Sociology from Cairo

Favourite authors: Elif Shafaq and Nizar Qabbani.

Favourite music: classical Arabic music such as Um Khalthoum and Abdul Wahab,

She loves the beach and advises her clients to go for meditation.

MISSION: IMPOSSIBLE – FINAL RECKONING

Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

It Was Just an Accident

Director: Jafar Panahi

Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;

- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,

- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.

UAE currency: the story behind the money in your pockets

Personalities on the Plate: The Lives and Minds of Animals We Eat

Barbara J King, University of Chicago Press 

Honeymoonish
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Elie%20El%20Samaan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENour%20Al%20Ghandour%2C%20Mahmoud%20Boushahri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
PSG's line up

GK: Alphonse Areola (youth academy)

Defence - RB: Dani Alves (free transfer); CB: Marquinhos (€31.4 million); CB: Thiago Silva (€42m); LB: Layvin Kurzawa (€23m)

Midfield - Angel di Maria (€47m); Adrien Rabiot (youth academy); Marco Verratti (€12m)

Forwards - Neymar (€222m); Edinson Cavani (€63m); Kylian Mbappe (initial: loan; to buy: €180m)

Total cost: €440.4m (€620.4m if Mbappe makes permanent move)

The specs: 2018 Maxus T60

Price, base / as tested: Dh48,000

Engine: 2.4-litre four-cylinder

Power: 136hp @ 1,600rpm

Torque: 360Nm @ 1,600 rpm

Transmission: Five-speed manual

Fuel consumption, combined: 9.1L / 100km

Countdown to Zero exhibition will show how disease can be beaten

Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a  month before Reaching the Last Mile.

Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.

 

SECRET%20INVASION
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Ali%20Selim%20%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Samuel%20L%20Jackson%2C%20Olivia%20Coleman%2C%20Kingsley%20Ben-Adir%2C%20Emilia%20Clarke%20%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%26nbsp%3B%3C%2Fp%3E%0A
The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

Things Heard & Seen

Directed by: Shari Springer Berman, Robert Pulcini

Starring: Amanda Seyfried, James Norton

2/5

The lowdown

Bohemian Rhapsody

Director: Bryan Singer

Starring: Rami Malek, Lucy Boynton, Gwilym Lee

Rating: 3/5

MATCH INFO

FA Cup final

Chelsea 1
Hazard (22' pen)

Manchester United 0

Man of the match: Eden Hazard (Chelsea)