Property and construction stocks pushed Dubai's benchmark higher yesterday as low valuations prompted buying.
Emaar Properties, the region's largest developer, rose 2 per cent to Dh2.55. Arabtec Holding, Dubai's biggest contractor, jumped 5.7 per cent to Dh1.65. Drake & Scull International, the emirate's second-biggest contractor, rose 2.3 per cent to 80 fils. The Dubai Financial Market General Index rose 0.6 per cent to 1,350.45.
"The markets are generally not expensive," said Fadi Al Said, a senior fund manager at ING Investment Management in Dubai. "We started the day without negative feelings or bad news, which was enough for markets to go higher."
Julphar led Abu Dhabi shares higher after the company on Monday said it was focusing on providing medical supplies to support the humanitarian crisis in Libya this year.
The company also started construction of a Dh500 million insulin plant in the summer. Julphar's shares rose 0.4 per cent to Dh2.24. Etisalat, which holds the largest weighting on the capital's index, rose 1.6 per cent to Dh9.27. The Abu Dhabi Securities Exchange General Index rose 0.5 per cent to 2,409.38.
Elsewhere in the region: Kuwait's index fell 0.1 per cent to 5,780.90; Bahrain's fell 0.3 per cent to 1,134.61; Oman's advanced 0.2 per cent to 5,721.81; Qatar's was up 1 per cent at 8,880.43; and the Saudi Tadawul All-Share Index rose 0.2 per cent to 6,413.88.
[ halsayegh@thenational.ae ]
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NEW UTILITY POLICY: WHAT DOES IT REGULATE?
• Agreements on energy and water supply
• Applied service fees
• Customer data and information privacy
• Prohibition of service disconnections
• Customer complaint process
• Management of debts and customers in default
• Services provided to people of determination and home care customers
Zayed Sustainability Prize
if you go
The flights
Flydubai flies to Podgorica or nearby Tivat via Sarajevo from Dh2,155 return including taxes. Turkish Airlines flies from Abu Dhabi and Dubai to Podgorica via Istanbul; alternatively, fly with Flydubai from Dubai to Belgrade and take a short flight with Montenegro Air to Podgorica. Etihad flies from Abu Dhabi to Podgorica via Belgrade. Flights cost from about Dh3,000 return including taxes. There are buses from Podgorica to Plav.
The tour
While you can apply for a permit for the route yourself, it’s best to travel with an agency that will arrange it for you. These include Zbulo in Albania (www.zbulo.org) or Zalaz in Montenegro (www.zalaz.me).
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
Killing of Qassem Suleimani
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others
ROUTE TO TITLE
Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2
2.0
Director: S Shankar
Producer: Lyca Productions; presented by Dharma Films
Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey
Rating: 3.5/5 stars
Law 41.9.4 of men’s T20I playing conditions
The fielding side shall be ready to start each over within 60 seconds of the previous over being completed.
An electronic clock will be displayed at the ground that counts down seconds from 60 to zero.
The clock is not required or, if already started, can be cancelled if:
• A new batter comes to the wicket between overs.
• An official drinks interval has been called.
• The umpires have approved the on field treatment of an injury to a batter or fielder.
• The time lost is for any circumstances beyond the control of the fielding side.
• The third umpire starts the clock either when the ball has become dead at the end of the previous over, or a review has been completed.
• The team gets two warnings if they are not ready to start overs after the clock reaches zero.
• On the third and any subsequent occasion in an innings, the bowler’s end umpire awards five runs.
Company Profile
Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government
