This image released by Lionsgate shows Jennifer Lawrence as Katniss Everdeen, from foreground to background, Josh Hutcherson as Peeta Mellark and Woody Harrelson as Haymitch Abernathy in a scene from The Hunger Games: Catching Fire. Lionsgate, Murray Close / AP Photo
This image released by Lionsgate shows Jennifer Lawrence as Katniss Everdeen, from foreground to background, Josh Hutcherson as Peeta Mellark and Woody Harrelson as Haymitch Abernathy in a scene from The Hunger Games: Catching Fire. Lionsgate, Murray Close / AP Photo
This image released by Lionsgate shows Jennifer Lawrence as Katniss Everdeen, from foreground to background, Josh Hutcherson as Peeta Mellark and Woody Harrelson as Haymitch Abernathy in a scene from The Hunger Games: Catching Fire. Lionsgate, Murray Close / AP Photo
This image released by Lionsgate shows Jennifer Lawrence as Katniss Everdeen, from foreground to background, Josh Hutcherson as Peeta Mellark and Woody Harrelson as Haymitch Abernathy in a scene from

Markets

UAE bourses up on first day of second quarter

Dubai Parks and Resorts among highest gainers after announcing tie-up with The Hunger Games.

Sananda Sahoo

April 01, 2015

  • English
  • Arabic

The Dubai and Abu Dhabi markets posted gains on the first day of the new quarter but are still in the red for the year to date.

The Dubai Financial Market index inched up 0.4 per cent, with Dubai Parks and Resorts and Dubai Islamic Insurance and Reinsurance among the biggest gainers. Dubai Parks shares posted an 8.6 per cent gain to close at 93 fils. The stock was introduced at Dh1 per share in December. On Tuesday, the company announced that its impending theme park in Dubai would include an attraction based on the Hunger Games films.

Dubai Islamic Insurance and Reinsurance, also known as Aman, rose 5.5 per cent yesterday to close at 64 fils. That was down from Dh1.22 a year ago.

The logistics company Aramex and the retail company Marka posted the biggest losses on the DFM, down 3.1 per cent and 1.5 per cent, respectively.

In Abu Dhabi, the market rose by 0.62 per cent, with Sharjah Gulf Medical Projects rising by a whopping 14.62 per cent to close at Dh1.96. Commercial Bank International was the other leader after its shares jumped 14.46 per cent to Dh1.90.

The Abu Dhabi utilities company Taqa dropped sharply by 8.7 per cent to 73 fils after it reported spending cuts and suspension of dividend payments. It posted losses of Dh3 billion, compared to Dh2.5bn.

Compared to the Middle East and North Africa, the UAE markets underperformed in the first quarter, as Mena markets were almost flat year-to-date. Dubai is down 6.44 per cent and Abu Dhabi 0.74 per cent for the year.

The weakness in the UAE markets was attributed to lower liquidity as retail interest in the market weakened, according to Mohamad Al Hajj, an associate at the brokerage EFG Hermes in Dubai. Softening of the real estate market and lower oil prices did not help.

“We expect the UAE markets to perform in line with Middle East and North Africa this year – we currently have a neutral rating on the market – as there is a lack of clear catalysts in sight to drive the markets higher,” he said.

Stocks in banks, industrials such as DP World, Air Arabia, and RAK Ceramics carry value, Mr Al Hajj said. He said that while real estate companies had weaker outlook because of the lower transactions, big developers such as Emaar still offer some promise.

ssahoo@thenational.ae

Follow The National's Business section on Twitter

Tomorrow 2021
More on Quran memorisation:
Read more about the coronavirus
The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

Points to remember
  • Debate the issue, don't attack the person
  • Build the relationship and dialogue by seeking to find common ground
  • Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
  • Listen actively without interrupting
  • Avoid assumptions, seek understanding, ask questions
Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Apple's%20Lockdown%20Mode%20at%20a%20glance
%3Cp%3EAt%20launch%2C%20Lockdown%20Mode%20will%20include%20the%20following%20protections%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMessages%3A%3C%2Fstrong%3E%20Most%20attachment%20types%20other%20than%20images%20are%20blocked.%20Some%20features%2C%20like%20link%20previews%2C%20are%20disabled%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EWeb%20browsing%3A%3C%2Fstrong%3E%20Certain%20complex%20web%20technologies%2C%20like%20just-in-time%20JavaScript%20compilation%2C%20are%20disabled%20unless%20the%20user%20excludes%20a%20trusted%20site%20from%20Lockdown%20Mode%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EApple%20services%3A%20%3C%2Fstrong%3EIncoming%20invitations%20and%20service%20requests%2C%20including%20FaceTime%20calls%2C%20are%20blocked%20if%20the%20user%20has%20not%20previously%20sent%20the%20initiator%20a%20call%20or%20request%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wired%20connections%20with%20a%20computer%20or%20accessory%20are%20blocked%20when%20an%20iPhone%20is%20locked%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConfigurations%3A%3C%2Fstrong%3E%20Configuration%20profiles%20cannot%20be%20installed%2C%20and%20the%20device%20cannot%20enroll%20into%20mobile%20device%20management%20while%20Lockdown%20Mode%20is%20on%3C%2Fp%3E%0A
While you're here
SPEC SHEET

Display: 6.8" edge quad-HD  dynamic Amoled 2X, Infinity-O, 3088 x 1440, 500ppi, HDR10 , 120Hz

Processor: 4nm Snapdragon 8 Gen 1/Exynos 2200, 8-core

Memory: 8/12GB RAM

Storage: 128/256/512GB/1TB

Platform: Android 12

Main camera: quad 12MP ultra-wide f/2.2, 108MP wide f/1.8, 10MP telephoto f/4.9, 10MP telephoto 2.4; Space Zoom up to 100x, auto HDR, expert RAW

Video: 8K@24fps, 4K@60fps, full-HD@60fps, HD@30fps, super slo-mo@960fps

Front camera: 40MP f/2.2

Battery: 5000mAh, fast wireless charging 2.0 Wireless PowerShare

Connectivity: 5G, Wi-Fi, Bluetooth 5.2, NFC

I/O: USB-C

SIM: single nano, or nano and SIM, nano and nano, eSIM/nano and nano

Colours: burgundy, green, phantom black, phantom white, graphite, sky blue, red

Price: Dh4,699 for 128GB, Dh5,099 for 256GB, Dh5,499 for 512GB; 1TB unavailable in the UAE

Results:

5pm: Conditions (PA) Dh80,000 1,400m | Winner: AF Tahoonah, Richard Mullen (jockey), Ernst Oertel (trainer)

5.30pm: Handicap (TB) Dh90,000 1,400m | Winner: Ajwad, Gerald Avranche, Rashed Bouresly

6pm: Maiden (PA) Dh80,000 1,600m | Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinel

6.30pm: Handicap (PA) Dh80,000 1,600m | Winner: Duc De Faust, Szczepan Mazur, Younis Al Kalbani

7pm: Wathba Stallions Cup (PA) Dh70,000 2,200m | Winner: Shareef KB, Fabrice Veron, Ernst Oertel

7.30pm: Handicap (PA) Dh90,000 1,500m | Winner: Bainoona, Pat Cosgrave, Eric Lemartinel

All or Nothing

Amazon Prime

Four stars

Director: Shady Ali
Cast: Boumi Fouad , Mohamed Tharout and Hisham Ismael
Rating: 3/5

While you're here
More from this story
Mohammed bin Zayed Majlis
The years Ramadan fell in May

1987

1954

1921

1888

TechnologyDubai Financial MarketTAQAAbu Dhabi Securities Exchange