Instability in Egypt took its toll across the region yesterday as five out of six GCC stock markets fell to new lows yesterday.
The Dubai Financial Market General Index fell to its lowest since last August, closing 4.32 per cent down at 1,543.02 points, as protesters took to the streets of Cairo against the regime of the president Hosni Mubarak, who has refused to stand down.
The Abu Dhabi Securities Exchange lost 3.68 per cent to 2,561.06 points.
Market heavyweights took the biggest hit as Aldar Properties dropped 8.84 per cent to Dh1.65 in Abu Dhabi and Emaar Properties fell 8.26 per cent to Dh3.11 in Dubai.
Elsewhere in the region, Qatar's index lost 2.95 per cent to 8,709.77 points, after falling as much as 10 per cent during the day.
Oman's measure retreated 3.02 per cent to 6,731.77 points; Bahrain dropped 1.43 per cent to 1,451.49 points; and Kuwait shed 1.76 per cent of its traded value to 6,822.00.
Saudi Arabia's Tadawul was the only index to notch a gain as the kingdom benefited from an in-flow of local buyers and higher oil prices.
Zain Saudi Arabia, the Kuwaiti telecom operator's business in the kingdom, added 2.76 per cent to 7.45 riyals. Saudi Arabian Mining, or Maaden, climbed 3.42 per cent to 22.70 riyals.
The Saudi Tadawul All-Shares Index closed up 2.5 per cent to 6,421.97 points, reversing a 6.4 per cent fall on the first day of trading on Saturday as investors priced in the effects of Cairo's political tensions.
fhalime@thenational.ae
Brief scores:
Manchester United 4
Young 13', Mata 28', Lukaku 42', Rashford 82'
Fulham 1
Kamara 67' (pen),
Red card: Anguissa (68')
Man of the match: Juan Mata (Man Utd)
Company%C2%A0profile
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CREW
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Who is Mohammed Al Halbousi?
The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.
He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.
He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.
TERMINAL HIGH ALTITUDE AREA DEFENCE (THAAD)
What is THAAD?
It is considered to be the US's most superior missile defence system.
Production:
It was created in 2008.
Speed:
THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.
Abilities:
THAAD is designed to take out ballistic missiles as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".
Purpose:
To protect high-value strategic sites, such as airfields or population centres.
Range:
THAAD can target projectiles inside and outside the Earth's atmosphere, at an altitude of 150 kilometres above the Earth's surface.
Creators:
Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.
UAE and THAAD:
In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then stationed them in 2016, becoming the first Gulf country to do so.
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
Top%2010%20most%20competitive%20economies
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The Travel Diaries of Albert Einstein The Far East, Palestine, and Spain, 1922 – 1923
Editor Ze’ev Rosenkranz
Princeton
Scream%20VI
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
MATCH DETAILS
Barcelona 0
Slavia Prague 0
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