Oil prices rose to a three-week high after the latest round of sabre-rattling from Iran, after the country's vice president issued a warning to western nations over proposed sanctions on the country's oil exports.
"If Iran oil is banned not a single drop of oil will pass through Hormuz Strait," Mohammad Reza Rahimi told the official IRNA news agency yesterday.
Brent futures increased 26 cents to $110.08 a barrel in trading this morning, extending a three-day rise.
The UAE's markets held steady, making gains despite headwinds on international markets.
The Dubai Financial Market General Index rose 1 per cent to 1,332.24, while the Abu Dhabi Securities Exchange General Index gained 0.3 per cent to 2,359.99.
Aldar Properties' stocks snapped a two-day losing streak to climb 1.2 per cent to 82 fils each, as the company's board prepares for a meeting where it will discuss asset sales. The board meeting takes place after markets close today.
Financial stocks began the trading day heading upwards, with Mashreq, Dubai Islamic Bank and Tamweel leading gains on Dubai's market. Abu Dhabi Commercial Bank and Abu Dhabi Islamic Bank gained in the capital.
Asian stocks dropped slightly in the early hours of the morning after Japan's government reported a decline in industrial output and consumer prices, with the Nikkei 225 index declining 0.2 per cent to 8,423.62. The Hang Seng Index lost 0.7 per cent to 18,482.89.
S&P 500 futures fell 0.2 per cent, pointing to a lower open on Wall Street.
Gold fell again for the fifth day running, with the yellow metal falling 0.6 per cent to $1,588.52 per troy ounce.
ghunter@thenational.ae
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
How the bonus system works
The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.
The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.
There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).
All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
