DUBAI // A student stole a gazelle from a farm to raise money for his ex-wife's alimony, but the animal died because he failed to care for it, a court heard today.
MH, 29, an Emirati, broke into a farm in Al Rawiya at about 2am on December 24 last year before herding the gazelle - worth Dh3,500 - and some sheep into his Nissan Patrol. Doing so took him more than an hour because he is unable to use his left arm.
He then tethered the gazelle to a tree before going to the Sharjah Livestock Market where he tried to sell the sheep. While he was at the market the animal died after fracturing its neck trying to break free.
Police investigating the burglary went to the market and met the shop worker JA, who said a pair of brothers had offered to sell him a gazelle and some sheep.
"They came to me and tried to sell me four sheep and a gazelle but I told them I couldn't buy them until the owner of the shop came back, so I took their numbers and names to contact them then," recalled the shop worker, who led police to the brothers.
The elder brother, MH, was charged with theft, damaging the farm's fence and causing the death of the animal. He admitted the charges, saying he needed the money to pay his ex-wife's alimony. However, he said his brother was unaware the animals were stolen.
The Misdemeanours Court sentenced him to six months in prison. The younger brother, AH, 23, and a Bangladeshi JA, 32, were charged with possession of a stolen animal. Each were fined Dh2,000.
salamir@thenational.ae
How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
Married Malala
Malala Yousafzai is enjoying married life, her father said.
The 24-year-old married Pakistan cricket executive Asser Malik last year in a small ceremony in the UK.
Ziauddin Yousafzai told The National his daughter was ‘very happy’ with her husband.
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UAE currency: the story behind the money in your pockets
