Waha Capital shares shot higher yesterday as investors welcomed the terms of the bond offering for the company's aerospace unit.
Waha Aerospace, based in the Netherlands, plans to raise bonds worth US$1.5 billion, which will be guaranteed by the Abu Dhabi Government. Moody's assigned the proposed bonds an "Aa2" debt rating.
Waha Capital shares rose 6.9 per cent to 62 fils yesterday on the Abu Dhabi Securities Exchange (ADX).
"The way the stock traded today, it was apparent that retail traders took advantage of the information on the bonds to push the stock higher," said Hassan el Salah, the head of institutional trading at AlRamz Securities based in Abu Dhabi.
The ADX General Index dipped 0.2 per cent to 2536.10 yesterday. Aabar Investments shares jumped another 2.1 per cent to Dh1.93, two fils away from the price at which Aabar's majority shareholder, IPIC, plans to purchase the shares of minority holders.
The Dubai Financial Market General Index closed up 1.4 per cent at 1,531.36, its largest gain in two weeks. Gulf Navigation Holding shares jumped 2.4 per cent to 49 fils. The company reported second-quarter net income of Dh23.5 million, compared with Dh3.8m for the same period last year.
Elsewhere in the region, Kuwait's measure moved up 1.1 per cent to 6,567.00. Bahrain's index dropped 0.1 per cent to 1,403.12 and Oman's bourse dropped 0.8 per cent to 6,172.67.
Qatar's index moved up 0.3 per cent to 6,957.38 and the Saudi Tadawul All-Share Index ended its trading week up 0.35 per cent to 6,089.95.
halsayegh@thenational.ae
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
How to become a Boglehead
Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.
• Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.
• Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.
• Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.
• Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.
• Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.
• Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.
• Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.
• Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
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
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Short-term let permits explained
Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.
Tenants also require a letter of no objection from their landlord before being allowed to list the property.
There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.
Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
