Aabar  Investments has a stake at Virgin Galactic.
Aabar Investments has a stake at Virgin Galactic.

Shares extend advance



Aabar Investments again led gainers yesterday as UAE markets showed signs of a short-term rally. The Dubai Financial Market General Index added 0.5 per cent to 1,551.19. Emaar Properties, the largest company on the index, added 1.2 per cent to Dh3.33. Drake & Scull retreated 0.4 per cent to Dh0.81, after the engineering company's chief executive was quoted as saying it has Dh700 million on hand for acquisitions. Separately, its chief financial officer said he sees the current quarter's results exceeding those of the previous one.

The Abu Dhabi Securities Exchange General Index edged 0.3 per cent higher to 2,551.39. But analysts did not expect the bourses to sustain the momentum. "It's a continuity of the rebound we saw last Sunday. It is more of a technical rally than a fundamental one," said Mohammed Ali Yasin, the chief executive of Shuaa Securities. Aabar Investments surged 4.7 per cent to Dh1.76, the second consecutive day of gains since the firm announced that it would hold a meeting today to consider delisting from the exchange.

Dana Gas rose to a three-week high, before closing up 2.9 per cent at Dh0.71, as it announced plans to buy back shares. National Bank of Abu Dhabi eased 0.4 per cent lower to Dh10.80 after it issued a five-year sukuk totalling 500 million Malaysian ringgit yesterday. Elsewhere in the region, Bahrain's measure added 0.4 per cent to 1,413.19, while Oman's bourse shed 0.6 per cent to 6,173.33. Qatar's index dropped 0.2 per cent to 7,072.08 and Kuwait's gauge fell 0.3 per cent to 6,653.00. The Saudi Tadawul All-Share Index fell 0.3 per cent to 6,343.47.

@Email:halsayegh@thenational.ae

The specs: 2019 Mini Cooper

Price, base: Dh141,740 (three-door) / Dh165,900 (five-door)
Engine: 1.5-litre four-cylinder (Cooper) / 2.0-litre four-cylinder (Cooper S)
Power: 136hp @ 4,500rpm (Cooper) / 192hp @ 5,000rpm (Cooper S)
Torque: 220Nm @ 1,480rpm (Cooper) / 280Nm @ 1,350rpm (Cooper S)
Transmission: Seven-speed automatic
Fuel consumption, combined: 4.8L to 5.4L / 100km

Getting there

Etihad Airways flies daily to the Maldives from Abu Dhabi. The journey takes four hours and return fares start from Dh3,995. Opt for the 3am flight and you’ll land at 6am, giving you the entire day to adjust to island time.  

Round trip speedboat transfers to the resort are bookable via Anantara and cost $265 per person.  

Bob Honey Who Just Do Stuff
By Sean Penn
Simon & Schuster

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

Company Profile

Company name: EduPloyment
Date started: March 2020
Co-Founders: Mazen Omair and Rana Batterjee
Base: Dubai, UAE
Sector: Recruitment
Size: 30 employees
Investment stage: Pre-Seed
Investors: Angel investors (investment amount undisclosed)

KEY DATES IN AMAZON'S HISTORY

July 5, 1994: Jeff Bezos founds Cadabra Inc, which would later be renamed to Amazon.com, because his lawyer misheard the name as 'cadaver'. In its earliest days, the bookstore operated out of a rented garage in Bellevue, Washington

July 16, 1995: Amazon formally opens as an online bookseller. Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought becomes the first item sold on Amazon

1997: Amazon goes public at $18 a share, which has grown about 1,000 per cent at present. Its highest closing price was $197.85 on June 27, 2024

1998: Amazon acquires IMDb, its first major acquisition. It also starts selling CDs and DVDs

2000: Amazon Marketplace opens, allowing people to sell items on the website

2002: Amazon forms what would become Amazon Web Services, opening the Amazon.com platform to all developers. The cloud unit would follow in 2006

2003: Amazon turns in an annual profit of $75 million, the first time it ended a year in the black

2005: Amazon Prime is introduced, its first-ever subscription service that offered US customers free two-day shipping for $79 a year

2006: Amazon Unbox is unveiled, the company's video service that would later morph into Amazon Instant Video and, ultimately, Amazon Video

2007: Amazon's first hardware product, the Kindle e-reader, is introduced; the Fire TV and Fire Phone would come in 2014. Grocery service Amazon Fresh is also started

2009: Amazon introduces Amazon Basics, its in-house label for a variety of products

2010: The foundations for Amazon Studios were laid. Its first original streaming content debuted in 2013

2011: The Amazon Appstore for Google's Android is launched. It is still unavailable on Apple's iOS

2014: The Amazon Echo is launched, a speaker that acts as a personal digital assistant powered by Alexa

2017: Amazon acquires Whole Foods for $13.7 billion, its biggest acquisition

2018: Amazon's market cap briefly crosses the $1 trillion mark, making it, at the time, only the third company to achieve that milestone

Ant-Man and the Wasp

Director: Peyton Reed

Starring: Paul Rudd, Evangeline Lilly, Michael Douglas

Three stars

SPECS

Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

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

Series result

1st ODI Zimbabwe won by 6 wickets

2nd ODI Sri Lanka won by 7 wickets

3rd ODI Sri Lanka won by 8 wickets

4th ODI Zimbabwe won by 4 wickets

5th ODI Zimbabwe won by 3 wickets


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