Deyaar Development gained the most in almost six months yesterday after the Dubai property developer said it made a nine-month profit after a loss last year.
Its shares surged 6.8 per cent, the most since April 17, to 25 fils on the Dubai Financial Market (DFM) General Index. The index rose 0.4 per cent to 1,384.28.
On Wednesday, Deyaar said its net income for the first nine months of the year was Dh45 million, versus a loss of Dh489m in the same period a year earlier.
"It's a pure retail-driven trade," said Marwan Shurrab, the chief trader at Gulfmena Investments in Abu Dhabi. "Deyaar has been a loss-making company for a while, so going into the black triggers a trading opportunity for investors."
Other property and construction stocks declined. Emaar Properties, the region's biggest developer, fell 1.1 per cent to Dh2.64 on the DFM General Index. Drake & Scull International declined 0.8 per cent to 81 fils.
In the capital, Aldar Properties rose 0.9 per cent to Dh1.03 before releasing third-quarter earnings results. Sorouh Real Estate declined 1 per cent to 98 fils.
Local markets will be closed from Sunday to Tuesday next week in observance of the Eid holiday. Trading will resume on Wednesday.
Elsewhere in the region: Kuwait's index fell 0.1 per cent to 5,910.20; Bahrain's rose 0.6 per cent to 1,155.12; Oman's MSM 30 Index advanced 0.3 per cent to 5,573.10; and Qatar's QE Index was up 0.6 per cent to 8,631.11. The Saudi Tadawul All-Share Index was closed for the day.
halsayegh@thenational.ae
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One in nine do not have enough to eat
Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.
One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.
The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.
Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.
It is currently estimated that one in nine people globally do not have enough to eat.
On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.
Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.
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'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Pox that threatens the Middle East's native species
Camelpox
Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.
Falconpox
Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.
Houbarapox
Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
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The Sky Is Pink
Director: Shonali Bose
Cast: Priyanka Chopra Jonas, Farhan Akhtar, Zaira Wasim, Rohit Saraf
Three stars
UAE currency: the story behind the money in your pockets
Under 19 World Cup
Group A: India, Japan, New Zealand, Sri Lanka
Group B: Australia, England, Nigeria, West Indies
Group C: Bangladesh, Pakistan, Scotland, Zimbabwe
Group D: Afghanistan, Canada, South Africa, UAE
UAE fixtures
Saturday, January 18, v Canada
Wednesday, January 22, v Afghanistan
Saturday, January 25, v South Africa
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
