Drake & Scull International rose yesterday after the contractor based in Dubai announced it had been awarded Dh96 million worth of contracts in Oman.
The company said it would oversee the complete mechanical, electrical and plumbing works, according to a statement it filed on the Dubai Financial Market (DFM) website recently.
DSI’s shares advanced 0.3 per cent to 80 fils. Trading was subdued on the DFM as oil declined and most investors bet the UAE would not be upgraded to emerging markets from its current frontier markets status by MSCI.
“The UAE markets rely on prices of oil and the impact that high oil has on liquidity in the UAE and the banking sector, or the extent that Dubai can pay its upcoming debts with ease,” said Rakan Himadeh, an assistant fund manager at Al Mal Capital in Dubai.
Brent for August delivery fell 73 cents to US$95.32 a barrel in early morning trading on the London-based ICE Futures Europe Exchange.
The DFM General Index added 0.3 per cent to 1,479.20.
In the capital, the Abu Dhabi Securities Exchange General Index gained slightly, rising 0.3 per cent to 2,467.97.
Elsewhere in the region: Kuwait’s measure was little changed at 5,945.08; Bahrain’s index slipped 0.1 per cent to 1,128.70; Oman’s MSM 30 Index lost 0.1 per cent to 5,700.24; Qatar’s QE Index added 0.4 per cent to 8,314.
Meanwhile, the Saudi Tadawul All-Share Index moved 0.1 per cent to 6817.26.
HAlSayegh@thenational.ae
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Why seagrass matters
- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
- Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
- Biodiversity: Support species like sea turtles, dugongs, and seabirds
- Coastal protection: Reduce erosion and improve water quality
How Islam's view of posthumous transplant surgery changed
Transplants from the deceased have been carried out in hospitals across the globe for decades, but in some countries in the Middle East, including the UAE, the practise was banned until relatively recently.
Opinion has been divided as to whether organ donations from a deceased person is permissible in Islam.
The body is viewed as sacred, during and after death, thus prohibiting cremation and tattoos.
One school of thought viewed the removal of organs after death as equally impermissible.
That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.