Drake & Scull International (DSI), Dubai's second biggest contractor, declined to the lowest level since January after first quarter profit fell 18 per cent.
DSI fell 3 per cent to trade at 79 fils a share this morning on the Dubai bourse.
Quarterly profit fell to Dh37.6 million, down from Dh45.9 million last year.
Arabtec Holding fell 1 per cent to Dh2.88 after the emirate's biggest contractor, on Monday revealed that Aabar became its single largest shareholder with a stake of more than 20 per cent. The statement came one day after reports that the sovereign wealth fund had taken a 53 per cent stake in the contractor.
The Dubai Financial Market General Index fell 0.1 per cent to 1479.69 points.
Property and construction stocks fell the most in Abu Dhabi.
Aldar Properties, the developer behind Yas Island, declined 1.9 per cent to Dh1.01.
Sorouh Real Estate, the developer behind the Sun & Sky Towers, dropped 3 per cent to 97 fils. The Abu Dhabi Securities Exchange General Index was little changed at 2472.87 points.
Elsewhere in the region, Kuwait's measure was little changed at 6429.27 points. Bahrain's measure was also little changed at 1156.77 points. Oman's MSM 30 Index lost 0.9 per cent to 5601.71 points. Qatar's QE Index fell 0.5 per cent to 8489.10 points.
The Saudi Tadawul All-Share fell 1.6 per cent to 7067.99 points.
halsayegh@thenational.ae
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
UAE's role in anti-extremism recognised
General John Allen, President of the Brookings Institution research group, commended the role the UAE has played in the fight against terrorism and violent extremism.
He told a Globsec debate of the UAE’s "hugely outsized" role in the fight against Isis.
"It’s trite these days to say that any country punches above its weight, but in every possible way the Emirates did, both militarily, and very importantly, the UAE was extraordinarily helpful on getting to the issue of violent extremism," he said.
He also noted the impact that Hedayah, among others in the UAE, has played in addressing violent extremism.
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SERIE A FIXTURES
Saturday (All UAE kick-off times)
Lecce v SPAL (6pm)
Bologna v Genoa (9pm)
Atlanta v Roma (11.45pm)
Sunday
Udinese v Hellas Verona (3.30pm)
Juventus v Brescia (6pm)
Sampdoria v Fiorentina (6pm)
Sassuolo v Parma (6pm)
Cagliari v Napoli (9pm)
Lazio v Inter Milan (11.45pm)
Monday
AC Milan v Torino (11.45pm)
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
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Specs
Engine: 3.0L twin-turbo V6
Gearbox: 10-speed automatic
Power: 405hp at 5,500rpm
Torque: 562Nm at 3,000rpm
Fuel economy, combined: 11.2L/100km
Price: From Dh292,845 (Reserve); from Dh320,145 (Presidential)
On sale: Now
