UAE stocks shed early gains to close largely unchanged on a quiet day for regional stock markets, as the positive performance in global equities on Monday began to wear off.
Asian markets turned in a mixed performance yesterday; Japan’s Nikkei ended up 1 per cent while Hong Kong’s Hang Seng closed down 0.1 per cent.
European markets were trading in positive territory yesterday. Shares in Dubai rose by over 1 per cent at the opening bell, before paring gains throughout the day, ending up just 0.02 per cent at 3,659.67. Emaar Properties was the main gainer, closing up 1.3 per cent at Dh6.80, its highest level in nearly seven weeks. At the other end of the spectrum, Arabtec Holding finished down 1 per cent at Dh1.91, while Damac Properties slipped by more than 0.6 per cent to Dh3.
In the capital, the Abu Dhabi Securities Exchange General Index finished down 0.2 per cent at 4,554.68. ADCB rose 0.5 per cent to Dh7.90, while shares in Etisalat declined 0.3 per cent to Dh14.70.
The Qatar Exchange in Doha was the only regional headline index to move more than half a percentage point, ending down 0.1 per cent at 11,453.13.
Saudi Arabia’s Tadawual All Share Index ended the day up 0.01 per cent.
jeverington@thenational.ae
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In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
The Beach Bum
Director: Harmony Korine
Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg
Two stars
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UAE currency: the story behind the money in your pockets
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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