UAE bourses extended declines and Dubai's index slipped to a seven-week low today as investors reduced risk amid increasing attacks on the Gaza Strip.
Israeli bombing of dozens of suspected guerrilla sites in the Hamas-ruled Gaza Strip and Palestinian rocket fire from the enclave dropped off as international efforts to broker a truce intensified.
Dubai's benchmark index earlier today fell by 0.7 per cent to 1,591 points, its lowest level since October 1.
Contractor Arabtec declined 2.1 per cent, telecom operator du shed 1.8 per cent and budget carrier Air Arabia declined 1.7 per cent.
Abu Dhabi's bourse was down by 0.6 per cent to 2,666 points early today, heading for its fourth session of losses since last Monday's 16-month high.
Developers are down, with Aldar Properties and Sorouh Real Estate falling 3.2 and 3.9 per cent respectively. Dana Gas dropped 2.4 per cent.
In Qatar, the measure ticks up 0.1 per cent to 8,387 points, easing away from Sunday's three-month low.
"It's all politics and Middle East conflict - the Gaza attack is scaring everyone," says Yassir Mckee, head of brokerage at Doha's Al Rayan Financial Brokerage.
"Qatar should stay in range - it needs some good news to take it higher. Locals are not as scared as much as the foreigners when there is tension in the region."
Qatar Navigation gained 3.1 per cent and Qatar Electricity and Water climbed 0.2 per cent. Qatar Insurance jumped 9.1 per cent in four trades and thin volumes, which traders say is moving on speculation.
Elsewhere, Oman's index slipped 0.1 per cent to 5,610 points, while Kuwait's bourse was trading flat.
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
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2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
Normcore explained
Something of a fashion anomaly, normcore is essentially a celebration of the unremarkable. The term was first popularised by an article in New York magazine in 2014 and has been dubbed “ugly”, “bland’ and "anti-style" by fashion writers. It’s hallmarks are comfort, a lack of pretentiousness and neutrality – it is a trend for those who would rather not stand out from the crowd. For the most part, the style is unisex, favouring loose silhouettes, thrift-shop threads, baseball caps and boyish trainers. It is important to note that normcore is not synonymous with cheapness or low quality; there are high-fashion brands, including Parisian label Vetements, that specialise in this style. Embraced by fashion-forward street-style stars around the globe, it’s uptake in the UAE has been relatively slow.
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
