Emaar results prop Dubai index; Abu Dhabi shares trade sideways



The Dubai Financial Market edged up slightly during trading on Monday buoyed by earnings at the index’s largest stock Emaar Properties.

The DFM rose 0.89 per cent to close at 3,515.22 during trading as property stocks pushed the index into positive terratory.

Emaar stocks rose 1.91 per cent to close at Dh6.95 per cent after Dubai’s biggest listed property developer reported an 8 per cent increase in second- quarter profits to Dh1.27 billion after trading closed on Sunday.

Emaar Malls, the shopping malls and retail business 84 per cent owned by Emaar Properties, was the day’s highest climber, gaining 3.16 per cent in trading on Monday to close at Dh2.94.

It was followed by Dubai developer Damac whose stocks rose 3.02 per cent to close at Dh2.39 and contractor Arabtec which rose 2.76 per cent to close at Dh1.49 as the positive sentiment towards property stocks spread.

Dubai courier Aramex which had made 11 gains in a row remained unchanged on Monday. After trading closed on Sunday, the Reuters news agency reported that Mohamed Alabbar, the Emaar chairman, had led two investor groups that bought a 16.45 per cent stake in the company as part of a plan to build an e-commerce platform across the Arab world.

Telecoms operator du was the biggest faller on the index, slumping 1.35 per cent on Monday to close at Dh5.56 after it posted an 11.3 per cent decline in second-quarter net profits on Sunday.

Dubai Investments was the bourse’s second-biggest faller, with stocks declining 0.95 per cent after it reported a 2.3 per cent fall in second-quarter net profit to Dh 218.4 million.

Abu Dhabi’s index barely moved, gaining just 0.1 per cent to close at 4,580.15.

Saudi Arabia’s index edged up 0.6 per cent as investors bought shares on recent price dips.

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The specs
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Transmission: Single-speed automatic
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Essentials
The flights

Return flights from Dubai to Windhoek, with a combination of Emirates and Air Namibia, cost from US$790 (Dh2,902) via Johannesburg.
The trip
A 10-day self-drive in Namibia staying at a combination of the safari camps mentioned – Okonjima AfriCat, Little Kulala, Desert Rhino/Damaraland, Ongava – costs from $7,000 (Dh25,711) per person, including car hire (Toyota 4x4 or similar), but excluding international flights, with The Luxury Safari Company.
When to go
The cooler winter months, from June to September, are best, especially for game viewing. 

Tour de France 2017: Stage 5

Vittel - La Planche de Belles Filles, 160.5km

It is a shorter stage, but one that will lead to a brutal uphill finish. This is the third visit in six editions since it was introduced to the race in 2012. Reigning champion Chris Froome won that race.

What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

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