Dubai stocks reversed midday losses yesterday and moved higher to finish a positive week on another high note.
"At this point we're just trying to maintain the gains in the index seen so far," said Rami Awwad, the operations manager at Al Awael Securities in Abu Dhabi.
The Dubai Financial Market General Index moved up 0.9 per cent to 1,689.45 and finished the week with a 2.6 per cent gain.
Union Properties increased 5.8 per cent to 42 fils on higher-than-normal volumes of 19.2 million shares. Market chatter involved speculation the company was close to finalising the sale of the Ritz-Carlton Hotel in Dubai for more than Dh1 billion, said Ameed Kanaan, the operations manager at Al Jazira Financial Services in Dubai. Aramex shares increased 1.3 per cent to Dh2.20, the courier's eighth consecutive day of gains. Shares of Aramex have added a total of 25.7 per cent in less than two weeks.
The Abu Dhabi Securities Exchange General Index moved 0.3 per cent higher to 2,639.33.
Gains were led by Etisalat, up 0.4 per cent to Dh10.50 a share. National Bank of Abu Dhabi added 0.4 per cent to Dh11.85, while Abu Dhabi Commercial Bank gained 0.4 per cent to Dh2.15 a share.
Elsewhere in the region: Kuwait's index remained unchanged at 6,840.10; Bahrain's measure added 0.3 per cent to 1,445.75; Oman stocks dropped 0.1 per cent to 6,454.18; and Qatar's index added 0.3 per cent to 7,661.67. The Saudi Tadawul All-Share Index was closed for the weekend.
halsayegh@thenational.ae
How the UAE gratuity payment is calculated now
Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.
The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.
1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):
a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33
b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.
2. For those who have worked more than five years
c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.
Note: The maximum figure cannot exceed two years total salary figure.
Dubai World Cup factbox
Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)
Most wins by a jockey: Jerry Bailey(4)
Most wins by an owner: Godolphin(9)
Most wins by a horse: Godolphin’s Thunder Snow(2)
How to improve Arabic reading in early years
One 45-minute class per week in Standard Arabic is not sufficient
The goal should be for grade 1 and 2 students to become fluent readers
Subjects like technology, social studies, science can be taught in later grades
Grade 1 curricula should include oral instruction in Standard Arabic
First graders must regularly practice individual letters and combinations
Time should be slotted in class to read longer passages in early grades
Improve the appearance of textbooks
Revision of curriculum should be undertaken as per research findings
Conjugations of most common verb forms should be taught
Systematic learning of Standard Arabic grammar
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
The 12 Syrian entities delisted by UK
Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV
'Falling%20for%20Christmas'
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