The Abu Dhabi and Dubai stock markets both gained ground on the last trading day of the first quarter.
The Dubai Financial Market General Index rose 0.9 per cent on Thursday to close at 3,480.43.
That brought it to a loss of 4.1 per cent for the month and 1.4 per cent for the quarter.
The Abu Dhabi Securities Market General Index rose by 0.1 per cent on the day to close at 4,443.53.
That capped a loss of 2.3 per cent for both the month and the quarter for the index.
Jameel Ahmad, vice president of corporate development and market research at FXTM, said that while emerging markets as a whole did well in the quarter, the UAE markets succumbed to noticeable selling pressure throughout this month.
“This also happens to have occurred at the same time that fire selling in the oil markets resumed, so you could assume that the local markets remain sensitive towards the price of oil on the international markets despite the ongoing attempts to diversify economic reliance on exporting the commodity,” he said.
On Thursday the Abu Dhabi market was led by Abu Dhabi Aviation, which rose 7.4 per cent to Dh2.90 a share.
On the last day of trade before their merger, National Bank of Abu Dhabi dropped 1.9 per cent to Dh10.25 while FGB shed 0.39 per cent to close at Dh12.90.
The Dubai index was lifted by National Cement Company, which rose 3.3 per cent to close at Dh3.10. Damac Properties gained 2.5 per cent to trade at Dh2.82 while Emirates NBD prices rose 2.4 per cent to Dh8.30.
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
THE BIO
Favourite holiday destination: Whenever I have any free time I always go back to see my family in Caltra, Galway, it’s the only place I can properly relax.
Favourite film: The Way, starring Martin Sheen. It’s about the Camino de Santiago walk from France to Spain.
Personal motto: If something’s meant for you it won’t pass you by.
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Global state-owned investor ranking by size
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United States |
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China |
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UAE |
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Japan |
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Norway |
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Canada |
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Singapore |
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Australia |
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Saudi Arabia |
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South Korea |
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
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COMPANY PROFILE
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
- Sellers should focus on providing high-quality used goods at attractive prices to buyers.
- It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
- Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
- Be creative and look around your home for valuable items that you no longer need but might be useful to others.
The specs: 2018 Jaguar F-Type Convertible
Price, base / as tested: Dh283,080 / Dh318,465
Engine: 2.0-litre inline four-cylinder
Transmission: Eight-speed automatic
Power: 295hp @ 5,500rpm
Torque: 400Nm @ 1,500rpm
Fuel economy, combined: 7.2L / 100km
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Credits
Produced by: Colour Yellow Productions and Eros Now
Director: Mudassar Aziz
Cast: Sonakshi Sinha, Jimmy Sheirgill, Jassi Gill, Piyush Mishra, Diana Penty, Aparshakti Khurrana
Star rating: 2.5/5
