Property and construction stocks edged the Dubai Financial Market (DFM) higher yesterday after Union Properties replaced a key executive.
The Dubai developer yesterday appointed Ahmad Khalaf Al Marri as acting general manager after Khalid Rashid Al Jarwan stepped down. Union surged 5.7 per cent to 28 fils.
"Investors are looking at this as a positive continuation and a step towards the restructuring of the company as a whole," said Marwan Shurrab, the chief trader at Gulfmena Investments in Dubai.
The company last week said it had reached a Dh1 billion debt deal with Emirates NBD.
Arabtec Holding, one of Dubai's biggest contractors, added 1.1 per cent to Dh1.72 a share. The DFM General Index gained 0.5 per cent to 1,334.58.
The Abu Dhabi Securities Exchange (ADX) failed to attract much investor interest yesterday.
Aldar Properties, the largest developer in the emirate, lost 1.1 per cent to 83 fils. Sorouh Real Estate, which traded 2.1 million shares, ended unchanged at 74 fils.
The ADX General Index was little changed at 2,340.52.
Elsewhere in the region: Kuwait's measure was flat at 5,797.10; Bahrain's benchmark was also little changed at 1,141.42; Oman's MSM 30 Index added 0.1 per cent to 5,591.71; Qatar's QE Index lost 0.2 per cent to 8,443.65. The Saudi Tadawul All-Share Index lost 0.2 per cent to 6,450.579.
halsayegh@thenational.ae
Company profile
Name: GiftBag.ae
Based: Dubai
Founded: 2011
Number of employees: 4
Sector: E-commerce
Funding: Self-funded to date
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
ACL Elite (West) - fixtures
Monday, Sept 30
Al Sadd v Esteghlal (8pm)
Persepolis v Pakhtakor (8pm)
Al Wasl v Al Ahli (8pm)
Al Nassr v Al Rayyan (10pm)
Tuesday, Oct 1
Al Hilal v Al Shorta (10pm)
Al Gharafa v Al Ain (10pm)
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Company%20Profile
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If you go
The flights
The closest international airport for those travelling from the UAE is Denver, Colorado. British Airways (www.ba.com) flies from the UAE via London from Dh3,700 return, including taxes. From there, transfers can be arranged to the ranch or it’s a seven-hour drive. Alternatively, take an internal flight to the counties of Cody, Casper, or Billings
The stay
Red Reflet offers a series of packages, with prices varying depending on season. All meals and activities are included, with prices starting from US$2,218 (Dh7,150) per person for a minimum stay of three nights, including taxes. For more information, visit red-reflet-ranch.net.
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
The Africa Institute 101
Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction.
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
