Etisalat erased gains made since the shares were opened up to foreign investors on Tuesday.
The telecoms operator ended the day down 1.7 per cent at Dh14.25, closing the week at the same level as immediately preceding the opening up to overseas investors.
Etisalat and banking stocks weighed on the Abu Dhabi Securities Exchange General Index, which fell 1.23 per cent, and finished 1.29 per cent lower for the week.
National Bank of Abu Dhabi led the sector losses, closing down 3.5 per cent at Dh9.35, while FGB and Abu Dhabi Commercial Bank ended down 1.7 per cent and 1.1 per cent respectively.
Agthia, the company behind Al Ain mineral water and Agrivita animal feed, closed down 7.1 per cent at Dh8.21, after its stock was downgraded to “sell” from “buy” by Mubasher Financial Services.
Taqa and Eshraq Properties were among the best performing stocks on the index, ending up 7.6 per cent and 4.6 per cent respectively.
Dubai shares, meanwhile, closed higher for their third consecutive day, rising 0.7 per cent at 3,625.16, as Damac Properties extended gains after its dividend announcement on Wednesday.
The property developer’s shares gained 1.3 per cent at Dh3.64, their highest close since early August.
Dubai Parks and Resorts and Aramex were the other main gainers, closing up 5.3 per cent and 2.8 per cent respectively.
Dubai’s headline index, which ended up marginally higher for the week, led gains across the Arabian Gulf, followed closely by Bahrain, which ended up 0.7 per cent. Saudi stocks, meanwhile, ended the day down 0.7 per cent.
jeverington@thenational.ae
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What is a black hole?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
The Africa Institute 101
Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction.
Company%20profile
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Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
FIGHT CARD
Fights start from 6pm Friday, January 31
Catchweight 82kg
Piotr Kuberski (POL) v Ahmed Saeb (IRQ)
Women’s bantamweight
Cornelia Holm (SWE) v Corinne Laframboise (CAN)
Welterweight
Omar Hussein (JOR) v Vitalii Stoian (UKR)
Welterweight
Josh Togo (LEB) v Ali Dyusenov (UZB)
Flyweight
Isaac Pimentel (BRA) v Delfin Nawen (PHI)
Catchweight 80kg
Seb Eubank (GBR) v Mohamed El Mokadem (EGY)
Lightweight
Mohammad Yahya (UAE) v Ramadan Noaman (EGY)
Lightweight
Alan Omer (GER) v Reydon Romero (PHI)
Welterweight
Ahmed Labban (LEB) v Juho Valamaa (FIN)
Featherweight
Elias Boudegzdame (ALG) v Austin Arnett (USA)
Super heavyweight
Roman Wehbe (LEB) v Maciej Sosnowski (POL)
THE%20SPECS
%3Cp%3EBattery%3A%2060kW%20lithium-ion%20phosphate%3Cbr%3EPower%3A%20Up%20to%20201bhp%3Cbr%3E0%20to%20100kph%3A%207.3%20seconds%3Cbr%3ERange%3A%20418km%3Cbr%3EPrice%3A%20From%20Dh149%2C900%3Cbr%3EAvailable%3A%20Now%3C%2Fp%3E%0A
Look north
BBC business reporters, like a new raft of government officials, are being removed from the national and international hub of London and surely the quality of their work must suffer.
The Written World: How Literature Shaped History
Martin Puchner
Granta
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Expo details
Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia
The world fair will run for six months from October 20, 2020 to April 10, 2021.
It is expected to attract 25 million visits
Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.
More than 30,000 volunteers are required for Expo 2020
The site covers a total of 4.38 sqkm, including a 2 sqkm gated area
It is located adjacent to Al Maktoum International Airport in Dubai South