DUBAI// A salesman has denied using another man’s Emirates ID in an attempt to transfer Dh1 million from the victim’s bank account.
Prosecutors told Dubai Criminal Court that 31-year-old Indian S E visited a bank in Al Muraqqabat using an ID card belonging to P P, whose nationality and age were not in records.
S E allegedly forged two transfer applications and submitted them to Union National Bank employees requesting that they transfer Dh1 million from the account of a company owned by P P.
S E is charged with using an official document belonging to others with the intention of carrying out a criminal act and with attempting to illegally obtain Dh1 million as well as forging two transfer applications and using them.
He denied all of the charges in court this morning. “I have done nothing of this, someone else did this crime, my mistake was that I accompanied him to the bank but I didn’t know his intentions at the time,” S E told judges.
Jordanian bank manager O A, 43, testified that S E was arrested on December 22 last year after the scam was discovered.
A verdict is expected on March 17.
salamir@thenational.ae
Thor: Love and Thunder
Director: Taika Waititi
Stars: Chris Hemsworth, Natalie Portman, Christian Bale, Russell Crowe, Tessa Thompson, Taika Waititi
Rating: 4/5
Company profile
Name: Belong
Based: Dubai
Founders: Michael Askew and Matthew Gaziano
Sector: Technology
Total funding: $3.5 million from crowd funding and angel investors
Number of employees: 12
JOKE'S ON YOU
Google wasn't new to busting out April Fool's jokes: before the Gmail "prank", it tricked users with mind-reading MentalPlex responses and said well-fed pigeons were running its search engine operations .
In subsequent years, they announced home internet services through your toilet with its "patented GFlush system", made us believe the Moon's surface was made of cheese and unveiled a dating service in which they called founders Sergey Brin and Larry Page "Stanford PhD wannabes ".
But Gmail was all too real, purportedly inspired by one – a single – Google user complaining about the "poor quality of existing email services" and born "millions of M&Ms later".
More about coronavirus
Match info
Deccan Gladiators 87-8
Asif Khan 25, Dwayne Bravo 2-16
Maratha Arabians 89-2
Chadwick Walton 51 not out
Arabians won the final by eight wickets
COMPANY PROFILE
Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures
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.
Leap of Faith
Michael J Mazarr
Public Affairs
Dh67
More on animal trafficking
RESULTS
3.30pm: Al Maktoum Challenge Round 3 – Group 1 (PA) $75,000 (Dirt) 2,000m
Winner: Jugurtha De Monlau, Pat Dobbs (jockey), Jean-Claude Pecout (trainer)
4.05pm: Dubai City Of Gold – Group 2 (TB) $250,000 (Turf) 2,410m
Winner: Global Storm, William Buick, Charlie Appleby
4.40pm: Burj Nahaar – Group 3 (TB) $250,000 (D) 1,600m
Winner: Discovery Island, James Doyle, Bhupat Seemar
5.15pm: Nad Al Sheba Turf Sprint – Group 3 (TB) $250,000 (T) 1,200m
Winner: Al Dasim, Mickael Barzalona, George Boughey
5.50pm: Al Bastakiya – Listed (TB) $170,000 (D) 1,900m
Winner: Go Soldier Go, Adrie de Vries, Fawzi Nass
6.25pm: Al Maktoum Challenge Round 3 – Group 1 (TB) $450,000 (D) 2,000m
Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass
7.10pm: Ras Al Khor – Conditions (TB) $300,000 (T) 1,400m
Winner: Al Suhail, William Buick, Charlie Appleby
7.45pm: Jebel Hatta – Group 1 (TB) $350,000 (T) 1,800m
Winner: Alfareeq, Dane O’Neill, Charlie Appleby
8.20pm: Mahab Al Shimaal – Group 3 (TB) $250,000 (D) 1,200m
Winner: Sound Money, Mickael Barzalona, Bhupat Seemar
UAE medallists at Asian Games 2023
Gold
Magomedomar Magomedomarov – Judo – Men’s +100kg
Khaled Al Shehi – Jiu-jitsu – Men’s -62kg
Faisal Al Ketbi – Jiu-jitsu – Men’s -85kg
Asma Al Hosani – Jiu-jitsu – Women’s -52kg
Shamma Al Kalbani – Jiu-jitsu – Women’s -63kg
Silver
Omar Al Marzooqi – Equestrian – Individual showjumping
Bishrelt Khorloodoi – Judo – Women’s -52kg
Khalid Al Blooshi – Jiu-jitsu – Men’s -62kg
Mohamed Al Suwaidi – Jiu-jitsu – Men’s -69kg
Balqees Abdulla – Jiu-jitsu – Women’s -48kg
Bronze
Hawraa Alajmi – Karate – Women’s kumite -50kg
Ahmed Al Mansoori – Cycling – Men’s omnium
Abdullah Al Marri – Equestrian – Individual showjumping
Team UAE – Equestrian – Team showjumping
Dzhafar Kostoev – Judo – Men’s -100kg
Narmandakh Bayanmunkh – Judo – Men’s -66kg
Grigorian Aram – Judo – Men’s -90kg
Mahdi Al Awlaqi – Jiu-jitsu – Men’s -77kg
Saeed Al Kubaisi – Jiu-jitsu – Men’s -85kg
Shamsa Al Ameri – Jiu-jitsu – Women’s -57kg
Bob Marley: One Love
Director: Reinaldo Marcus Green
Starring: Kingsley Ben-Adir, Lashana Lynch, James Norton
Rating: 2/5
SPECS: Polestar 3
Engine: Long-range dual motor with 400V battery
Power: 360kW / 483bhp
Torque: 840Nm
Transmission: Single-speed automatic
Max touring range: 628km
0-100km/h: 4.7sec
Top speed: 210kph
Price: From Dh360,000
On sale: September
Specs: 2024 McLaren Artura Spider
Engine: 3.0-litre twin-turbo V6 and electric motor
Max power: 700hp at 7,500rpm
Max torque: 720Nm at 2,250rpm
Transmission: Eight-speed dual-clutch auto
0-100km/h: 3.0sec
Top speed: 330kph
Price: From Dh1.14 million ($311,000)
On sale: Now
The specs
Engine: 6.5-litre V12 and three electric motors
Power: 1,015hp
Torque: 1,500Nm (estimate)
Transmission: Eight-speed dual-clutch auto
On sale: Early 2024
Price: From Dh2 million (estimate)
Company Profile
Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
'Fantastic Beasts: The Secrets of Dumbledore'
Rating: 3/5
Directed by: David Yates
Starring: Mads Mikkelson, Eddie Redmayne, Ezra Miller, Jude Law
Sleep Well Beast
The National
4AD
65
Directors: Scott Beck, Bryan Woods
Stars: Adam Driver, Ariana Greenblatt, Chloe Coleman
Rating: 2/5
STAY, DAUGHTER
Author: Yasmin Azad
Publisher: Swift Press
Available: Now
While you're here
The National editorial: Turkey's soft power weighs heavy on Europe's Muslims
Con Coughlin: How extremists use Zoom and other tools to exploit pandemic
Nicky Harley: Peace TV preacher Zakir Naik prompts UK hate laws review
Teams
Pakistan: Sarfraz Ahmed (captain), Mohammad Hafeez, Sahibzada Farhan, Babar Azam, Shoaib Malik, Asif Ali, Shadab Khan, Shaheen Shah Afridi, Usman Khan Shanwari, Hasan Ali, Imad Wasim, Faheem Ashraf.
New Zealand: Kane Williamson (captain), Corey Anderson, Mark Chapman, Lockie Ferguson, Colin de Grandhomme, Adam Milne, Colin Munro, Ajaz Patel, Glenn Phillips, Seth Rance, Tim Seifert, Ish Sodhi, Tim Southee, Ross Taylor.
Civil War
Director: Alex Garland
Starring: Kirsten Dunst, Cailee Spaeny, Wagner Moura, Nick Offerman
Rating: 4/5
Porsche Macan T: The Specs
Engine: 2.0-litre 4-cyl turbo
Power: 265hp from 5,000-6,500rpm
Torque: 400Nm from 1,800-4,500rpm
Transmission: 7-speed dual-clutch auto
Speed: 0-100kph in 6.2sec
Top speed: 232kph
Fuel consumption: 10.7L/100km
On sale: May or June
Price: From Dh259,900
Central Bank's push for a robust financial infrastructure
- CBDC real-value pilot held with three partner institutions
- Preparing buy now, pay later regulations
- Preparing for the 2023 launch of the domestic card initiative
- Phase one of the Financial Infrastructure Transformation (FiT) completed