Tamweel, the home finance unit of Dubai Islamic Bank, lived up to the volatile trading it has been subject to since it re-listed last month as it reversed the gains it made yesterday.
Video: Market Minute, July 4, 2011
Farah Halime rounds up the morning's trading action
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Shares in the Islamic mortgage provider slipped 0.7 per cent to 87.4 fils at the open. Yesterday it climbed as much as 3.4 per cent to 88 fils.
It was among the top losers in Dubai today.
It began trading on May 10 after a two-year hiatus when it had been suspended at the height of the credit crisis. After climbing 6 per cent in the first day of trading, it then slumped to its 10 per cent limit in the days that followed.
The overall trading mood was muted this morning as traders awaited the latest flow of financial results. Property stocks, which rose to new highs last week after a government incentive to extend the visa period for homebuyers, also reversed gains as Arabtec and Emaar Properties both fell 2.3 per cent to Dh1.29 and 0.63 to Dh3.13 respectively.
The wider Dubai benchmark, the Dubai Financial Market General Index pared off the gains it made yesterday, which saw the stock market clock its biggest daily gain in 15 weeks.
This morning it was up half a per cent to 1,561.78 points. In the capital, the Abu Dhabi Securities Exchange added 0.2 per cent to 2,713.36 points, propped up by the heavyweight stocks.
Aldar Properties, one of the most heavily traded stocks in the UAE, gained 2.3 per cent to Dh1.31 and energy giant Dana Gas advanced 1.6 per cent to 64 fils.
The summer months are often a period of lacklustre trading in the absence of a strong catalyst and in the run-up to a Ramadan rally.
It has meant the movement of local bourses is more likely to be dictated by international equity moves.
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
Pearls on a Branch: Oral Tales
Najlaa Khoury, Archipelago Books
if you go
The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.
The trip
Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.
The Good Liar
Starring: Helen Mirren, Ian McKellen
Directed by: Bill Condon
Three out of five stars
THE LOWDOWN
Photograph
Rating: 4/5
Produced by: Poetic License Motion Pictures; RSVP Movies
Director: Ritesh Batra
Cast: Nawazuddin Siddiqui, Sanya Malhotra, Farrukh Jaffar, Deepak Chauhan, Vijay Raaz
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
MATCH INFO
Manchester City 2 (Mahrez 04', Ake 84')
Leicester City 5 (Vardy 37' pen, 54', 58' pen, Maddison 77', Tielemans 88' pen)
Man of the match: Jamie Vardy (Leicester City)
Roll%20of%20Honour%2C%20men%E2%80%99s%20domestic%20rugby%20season
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COMPANY%20PROFILE
%3Cp%3E%0D%3Cbr%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EClara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EPatrick%20Rogers%2C%20Lee%20McMahon%2C%20Arthur%20Guest%2C%20Ahmed%20Arif%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ELegalTech%0D%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%244%20million%20of%20seed%20financing%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EWamda%20Capital%2C%20Shorooq%20Partners%2C%20Techstars%2C%20500%20Global%2C%20OTF%2C%20Venture%20Souq%2C%20Knuru%20Capital%2C%20Plug%20and%20Play%20and%20The%20LegalTech%20Fund%3C%2Fp%3E%0A
