The Abu Dhabi index gained 1 per cent to 2,588.57. Sammy Dallal / The National
The Abu Dhabi index gained 1 per cent to 2,588.57. Sammy Dallal / The National

Sorouh gives capital a lift



Abu Dhabi's benchmark index jumped to the highest level in six months, lifted by Sorouh Real Estate.

The rise came after the developer behind Sun & Sky Towers reached a crucial technical level during trading. "Institutional investors have been buying for a while but as soon as that level was triggered retail investors began participating," said Nabil Rantisi, the managing director of brokerage at Mena Corp in Abu Dhabi.

Sorouh Real Estate, the top traded stock on the Abu Dhabi Securities Exchange, surged 5.3 per cent to Dh1.26.

The technical level at Dh1.11 was triggered on Thursday, Mr Rantisi said. The Abu Dhabi Securities Exchange General Index gained 1 per cent to 2,588.57. The gauge gained as much as 1.1 per cent during the trading session, the highest one-day price increase since March 12.

Emaar Properties, the developer behind the world's tallest building, gained 1.8 per cent to Dh3.40 in Dubai. Deyaar Development, another developer in the emirate, jumped 3.2 per cent to 38 fils.

Tamweel, the mortgage company with Sharia rules, advanced 4 per cent to Dh1.28. The Dubai Financial Market General Index gained 1 per cent to 1571.26.

Elsewhere in the region: Kuwait's measure lost 0.3 per cent to 5,885.38; Bahrain's index added 0.1 per cent to 1,074.47; Oman's MSM 30 Index rose 0.5 per cent to 5,593.98; Qatar's QE Index was little changed, down 0.01 per cent, to 8,458.65.

The Saudi Tadawul All-Share Index fell 0.13 per cent to 7,095.76.

THE SPECS

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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

The biog

Name: Greg Heinricks

From: Alberta, western Canada

Record fish: 56kg sailfish

Member of: International Game Fish Association

Company: Arabian Divers and Sportfishing Charters

BELGIUM SQUAD

Goalkeepers: Thibaut Courtois, Simon Mignolet, Koen Casteels

Defenders: Jan Vertonghen, Toby Alderweireld, Leander Dendoncker, Zeno Debast, Arthur Theate, Wout Faes

Midfielders: Hans Vanaken, Axel Witsel, Youri Tielemans, Amadou Onana, Kevin De Bruyne, Yannick Carrasco, Thorgan Hazard, Timothy Castagne, Thomas Meunier

Forwards: Romelu Lukaku, Michy Batshuayi, Loïs Openda, Charles De Ketelaere, Eden Hazard, Jeremy Doku, Dries Mertens, Leandro Trossard

Confirmed bouts (more to be added)

Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez

Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.

Istanbul earthquake risk

- 50,000 - predicted death toll

- 7.5-7.7 on the Richter scale - the size of the predicted quake

- Over half - the number of buildings in Istanbul deemed unsafe by experts

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The specs

Engine: 2.0-litre 4cyl turbo
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Transmission: 7-speed dual-clutch auto
Fuel consumption: 10.5L/100km
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Price: From Dh129,999 (VX Luxury); from Dh149,999 (VX Black Gold)

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