Gulf stock markets rose at the open today, taking cues from global markets, amid investor optimism after Greece held its elections yesterday, signaling that the country is moving closer to resolve its worsening debt crisis.
Tamweel, the mortgage company complying with Shariah rules, jumped 2.5 per cent to Dh1.20 in Dubai. Emaar Properties, the developer behind the Burj Khalifa, advanced 1 per cent to Dh2.88.
The Dubai Financial Market General Index gained 0.6 per cent to 1472.88 points, while the Abu Dhabi Securities Exchange General Index was little changed at 2445.50 points.
In Asia, Japan's Nikkei Index gained 1.7 per cent to 8721.02 points. Korea's Topix gained 1.6 per cent to 738.81. Hong Kong's Hang Seng Index added 1.2 per cent to 19,469.20 points. Greece's largest pro-austerity and bailout parties, New Democracy and Pasok, won enough ballots to form a parliamentary majority, according to an official projection by the country's Interior Ministry. The euro rose 0.6 per cent at $1.2710. Earlier today, it touched $1.2748, the highest level in a month.
"The currency was boosted because people are speculating the results would be interpreted as Greece is not going to leave the euro-zone," said Marwan Shurrab, the chief trader at asset-manager Gulfmena Investments in Dubai. "Many investors are still waiting to see how European markets open."
Elsewhere in the region, Kuwait's index gained 0.2 per cent to 5924.72 points. Bahrain's measure added 0.1 per cent to 1131.75 points. Oman's index was little changed at 5712.40 points. Qatar's QE Index was also little changed at 8251.23 points.
The Saudi Tadawul All-Share Index gained 0.4 per cent yesterday to 6754.23 points.
Killing of Qassem Suleimani
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
Mountain%20Boy
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
EA Sports FC 24
MATCH INFO
Barcelona v Real Madrid, 11pm UAE
Match is on BeIN Sports
