Investors booked profits on the Dubai Financial Market (DFM) yesterday, ending the week on a down note after a rally that has brought more than 25 per cent gains since the start of the year.
Emaar Properties, one of the region's biggest developers, added 2.8 per cent to Dh3.07 a share. The DFM General Index lost 1.6 per cent to 1,702.10. The index has risen 25.7 per cent since January 2.
"This market has had a lot of profit and what we saw today was profit-taking," said Anastasios Dalgiannakis, the head of institutional trading at Mubasher Financial Services in Dubai.
Aldar Properties slumped 2.4 per cent to Dh1.18 after the outlook for Abu Dhabi's biggest developer was upgraded to "positive" from "negative" by the ratings agency Moody's Investors Service.
"The decision to change the outlook to positive reflects the elimination of significant market and execution risk for Aldar further to the company's asset transaction agreements with the Government of Abu Dhabi in December," Moody's said.
The Abu Dhabi Securities Exchange General Index rose 0.4 per cent to 2,622.99, led by banking stocks.
National Bank of Abu Dhabi, the UAE's second-biggest lender by assets, rose 1.7 per cent to Dh11.60. First Gulf Bank, the lender controlled by Abu Dhabi, jumped 6.2 per cent to Dh21.40.
Elsewhere in the region: Kuwait's measure gained 0.1 per cent to 6,133.60; Bahrain's index was little changed at 1,147.99; Oman's index was also little changed at 5,841.80. Qatar's QE Index also showed little movement at 8,738.88. The Saudi Tadawul All-Share Index was closed for the day.
halsayegh@thenational.ae
What can victims do?
Always use only regulated platforms
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Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Company%20Profile
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Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
New schools in Dubai
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
Company Profile
Founders: Tamara Hachem and Yazid Erman
Based: Dubai
Launched: September 2019
Sector: health technology
Stage: seed
Investors: Oman Technology Fund, angel investor and grants from Sharjah's Sheraa and Ma'an Abu Dhabi
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
The essentials
What: Emirates Airline Festival of Literature
When: Friday until March 9
Where: All main sessions are held in the InterContinental Dubai Festival City
Price: Sessions range from free entry to Dh125 tickets, with the exception of special events.
Hot Tip: If waiting for your book to be signed looks like it will be timeconsuming, ask the festival’s bookstore if they have pre-signed copies of the book you’re looking for. They should have a bunch from some of the festival’s biggest guest authors.
Information: www.emirateslitfest.com
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Roll of honour: Who won what in 2018/19?
West Asia Premiership: Winners – Bahrain; Runners-up – Dubai Exiles
UAE Premiership: Winners – Abu Dhabi Harlequins; Runners-up – Jebel Ali Dragons
Dubai Rugby Sevens: Winners – Dubai Hurricanes; Runners-up – Abu Dhabi Harlequins
UAE Conference: Winners – Dubai Tigers; Runners-up – Al Ain Amblers
if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
FA Cup quarter-final draw
The matches will be played across the weekend of 21 and 22 March
Sheffield United v Arsenal
Newcastle v Manchester City
Norwich v Derby/Manchester United
Leicester City v Chelsea
OPINIONS ON PALESTINE & ISRAEL
