Shares in Kuwait led a day of positive gains throughout the Arabian Gulf on Sunday, with only Abu Dhabi finishing in the red.
The Kuwait Stock Exchange Index extended its winning run to an unprecedented 13th straight day, closing up 3.2 per cent at 6,644.77, as confidence fuelled by the prospect of stock market reforms and higher oil revenues showed no sign of abating.
The index is the second best performer in the world so far this year, behind Argentina’s Merval Index, rising by nearly 16 per cent over the past three weeks.
Shares in Dubai began the week brightly, closing up 0.7 per cent at 3,716.98.
Emaar Properties led big-name gainers, finishing up 0.8 per cent at Dh7.61.
DIB closed up 1 per cent at Dh6.05, ahead of the anticipated release of the bank’s fourth-quarter results this week. Shares in Arabtec Holding, which is due to hold its board meeting today, rose 0.7 per cent to Dh1.46.
The Abu Dhabi Securities Exchange General Index ended a busier than average trading day down 0.1 per cent at 4,698.78, owing to drops by FGB and Etisalat.
Trading was dominated by Eshraq Properties and RAK Properties, which finished up 13 per cent and 7.6 per cent. The two real estate companies together accounted for nearly two-thirds of the 585 million shares traded on the bourse.
Shares in Saudi Arabia rose for a second straight day, as traders took time to digest the implication of last week’s fourth-quarter earnings from big names. The Tadawul ended the day up 0.34 per cent to 6,898.93, thanks to gains by Al Rajhi Bank and Saudi Industrial Investment Group.
jeverington@thenational.ae
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
PAKISTAN v SRI LANKA
Twenty20 International series
Thu Oct 26, 1st T20I, Abu Dhabi
Fri Oct 27, 2nd T20I, Abu Dhabi
Sun Oct 29, 3rd T20I, Lahore
Tickets are available at www.q-tickets.com
Notable groups (UAE time)
Jordan Spieth, Si Woo Kim, Henrik Stenson (12.47pm)
Justin Thomas, Justin Rose, Louis Oosthuizen (12.58pm)
Hideki Matsuyama, Brooks Koepka, Tommy Fleetwood (1.09pm)
Sergio Garcia, Jason Day, Zach Johnson (4.04pm)
Rickie Fowler, Paul Casey, Adam Scott (4.26pm)
Dustin Johnson, Charl Schwartzel, Rory McIlroy (5.48pm)