A late surge in Arabtec shares helped to ensure Dubai's stock market ended the last day of the trading week in the black.
The Dubai Financial Market yesterday closed 1.1 per cent higher at 4,494.37, ending a three-day losing streak.
The main index, however, finished the week 1.5 per cent lower compared with last Thursday’s close.
Arabtec shares were the big gainers after Egypt’s housing minister said the company’s US$40 billion housing project will commence construction next year, downplaying talks of delays to the project.
Shares of the construction company rose 6.1 per cent in heavy afternoon trading, ending the day at Dh3.97 each.
Dubai's gains were not replicated in the capital, however. The Abu Dhabi Securities Exchange General Index ended the day down 0.4 per cent at 4,797.90, dragged by a 1.9 per cent drop in the index heavyweight FGB.
Aldar Properties ended the day up 0.9 per cent at Dh3.19 for each share, following an announcement that its credit rating had been upgraded to investment grade by Moody’s.
The rating agency cited the reduction of the developer’s financial leverage and development risk, and an increase in recurring rental following the opening of Yas Mall and other properties.
Meanwhile, shares in Dana Gas closed unchanged at 61 fils after reports that the company was in talks with the Egyptian government to secure a more competitive price for some of the natural gas it extracts in the country.
jeverington@thenational.ae
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Abdul Jabar Qahraman was meeting supporters in his campaign office in the southern Afghan province of Helmand when a bomb hidden under a sofa exploded on Wednesday.
The blast in the provincial capital Lashkar Gah killed the Afghan election candidate and at least another three people, Interior Minister Wais Ahmad Barmak told reporters. Another three were wounded, while three suspects were detained, he said.
The Taliban – which controls much of Helmand and has vowed to disrupt the October 20 parliamentary elections – claimed responsibility for the attack.
Mr Qahraman was at least the 10th candidate killed so far during the campaign season, and the second from Lashkar Gah this month. Another candidate, Saleh Mohammad Asikzai, was among eight people killed in a suicide attack last week. Most of the slain candidates were murdered in targeted assassinations, including Avtar Singh Khalsa, the first Afghan Sikh to run for the lower house of the parliament.
The same week the Taliban warned candidates to withdraw from the elections. On Wednesday the group issued fresh warnings, calling on educational workers to stop schools from being used as polling centres.
The specs
Engine: 3.8-litre twin-turbo flat-six
Power: 650hp at 6,750rpm
Torque: 800Nm from 2,500-4,000rpm
Transmission: 8-speed dual-clutch auto
Fuel consumption: 11.12L/100km
Price: From Dh796,600
On sale: now
Reading List
Practitioners of mindful eating recommend the following books to get you started:
Savor: Mindful Eating, Mindful Life by Thich Nhat Hanh and Dr Lilian Cheung
How to Eat by Thich Nhat Hanh
The Mindful Diet by Dr Ruth Wolever
Mindful Eating by Dr Jan Bays
How to Raise a Mindful Eaterby Maryann Jacobsen
Friday's schedule at the Etihad Airways Abu Dhabi Grand Prix
GP3 qualifying, 10:15am
Formula 2, practice 11:30am
Formula 1, first practice, 1pm
GP3 qualifying session, 3.10pm
Formula 1 second practice, 5pm
Formula 2 qualifying, 7pm
SPECS
Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now
Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.
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