DFM leads regional declines



Shares in Dubai led losses across the region yesterday as Emaar Properties dashed market speculation it was planning an additional dividend payment.

Saudi shares followed Dubai stocks lower, even as oil prices rallied in the early afternoon on an initial agreement by major oil producers to push for an extension of output cuts.

Brent crude futures were up at around US$53.43 per barrel by late afternoon yesterday, after having fallen for three days in a row.

The Dubai Financial Market General Index closed down 1 per cent at 3,469.82, weighed down by index heavyweight Emaar. The developer’s shares closed down 2.3 per cent at Dh7.40, after Al Ara­biya TV reported the company had no plans to distribute extraordinary dividends

Lender Mashreq and Dubai Investments also registered sell-offs, falling 10 per cent and 2.7 per cent, respectively.

Union Properties and Emaar Malls led a handful of gainers, rising 5.8 per cent and 1.1 per cent, respectively.

In the capital, the Abu Dhabi Securities Exchange General Index closed down 0.2 per cent at 4,521.63. First Abu Dhabi Bank (ticker: NBAD) fell 0.5 per cent to Dh10.90, even after its first-quarter results came in ahead of analysts’ estimates.

Shares in Taqa were among the strongest gainers in the capital, closing up 7.1 per cent. On Wednesday, the company’s shareholders elected a new board of directors including three new members.

In Saudi Arabia, the Tadawul index closed 0.7 per cent lower. Shares in Dar Al Arkan ended unchanged, after the property developer announced a 79 per cent fall in first-quarter profits, which it attributed to lower property sales.

jeverington@thenational.ae

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Museum of the Future in numbers
  • 78 metres is the height of the museum
  • 30,000 square metres is its total area
  • 17,000 square metres is the length of the stainless steel facade
  • 14 kilometres is the length of LED lights used on the facade
  • 1,024 individual pieces make up the exterior 
  • 7 floors in all, with one for administrative offices
  • 2,400 diagonally intersecting steel members frame the torus shape
  • 100 species of trees and plants dot the gardens
  • Dh145 is the price of a ticket
UAE athletes heading to Paris 2024

Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).


Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).


Cycling
Safia Al Sayegh (women's road race).

Swimming
Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).

Athletics
Maryam Mohammed Al Farsi (women's 100 metres).

THE SPECS
Engine: 3.5-litre V6
Transmission: 9-speed automatc
Power: 279hp
Torque: 350Nm
Price: From Dh250,000
On sale: Now

Company Profile

Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

States of Passion by Nihad Sirees,
Pushkin Press

Director: Nag Ashwin

Starring: Prabhas, Saswata Chatterjee, Deepika Padukone, Amitabh Bachchan, Shobhana

Rating: ★★★★

MEDIEVIL (1998)

Developer: SCE Studio Cambridge
Publisher: Sony Computer Entertainment
Console: PlayStation, PlayStation 4 and 5
Rating: 3.5/5

Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

ENGLAND SQUAD

For Euro 2024 qualifers away to Malta on June 16 and at home to North Macedonia on June 19:

Goalkeepers Johnstone, Pickford, Ramsdale.

Defenders Alexander-Arnold, Dunk, Guehi, Maguire, Mings, Shaw, Stones, Trippier, Walker.

Midfielders Bellingham, Eze, Gallagher, Henderson, Maddison, Phillips, Rice.

Forwards Foden, Grealish, Kane, Rashford, Saka, Wilson.

UAE athletes heading to Paris 2024

Equestrian

Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).

Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).

Cycling
Safia Al Sayegh (women's road race).

Swimming

Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).

Athletics

Maryam Mohammed Al Farsi (women's 100 metres).

MEYDAN RACECARD

6pm Arabian Adventures – Maiden (TB) Dh82,500 (Dirt) 1,200m
6.35pm Emirates Sky Cargo – Handicap (TB) 87,500 (D) 2,000m
7.10pm Emirates Holiday – Maiden (TB) Dh82,500 (D) 1,400m
7.45pm Emirates Skywards – Handicap (TB) Dh87,500 (D) 1,400m
8.20pm Emirates Airline – Handicap (TB) Dh105,000 (D) 1,600m
8.55pm Emirates Airline – Handicap (TB) Dh105,000 (D) 1,900m
9.30pm Emirates.com – Handicap (TB_ Dh87,500 (D) 1,200m

COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

Confirmed bouts (more to be added)

Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez

Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.

Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar

12 restaurants opening at the hotel this month

Ariana’s Persian Kitchen
Dinner by Heston Blumenthal
Estiatorio Milos
House of Desserts
Jaleo by Jose Andres
La Mar
Ling Ling
Little Venice Cake Company
Malibu 90265
Nobu by the Beach
Resonance by Heston Blumenthal
The Royal Tearoom 

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

SPECS

Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now


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