Stock markets in the Gulf were narrowly mixed in sluggish, early trade on Tuesday although Dubai's Air Arabia rose sharply on better-than-expected second-quarter earnings.
Air Arabia surged 6.5 per cent, accounting for over a third of the market's trading volume, after it reported a 19.2 per cent rise in second-quarter net profit attributable to shareholders to Dh150.7 million. EFG Hermes and SICO Bahrain had forecast Dh95.9m and Dh96.3m.
Dubai's index edged up only 0.1 per cent, however, as falling stocks outnumbered gainers 14 to eight. Amlak Finance dropped 1.8 per cent despite reporting that it had swung to a small second-quarter profit from a year-earlier loss.
Abu Dhabi's index edged down 0.1 per cent as Dana Gas , which is expected to report earnings on Thursday, sank 3.1 per cent.
In Saudi Arabia, the index gained 0.3 per cent as big food maker Savola added 3.8 per cent despite reporting quarterly profit sank to 229.3 million Saudi riyals from 253.5m riyals a year ago, as sales declined.
NCB Capital calculated that adjusting for a one-off gain of 62m riyals from the sale of its Hyper Panda store in Dubai, Savola's adjusted net income was 167m riyals, down 34.0 per cent. It said this was lower than consensus estimates of 189m riyals, though in line with NCB's 170m riyal forecast.
The profit slide appeared to be partly due to contracting retail margins, NCB added.
Najran Cement fell 1.6 per cent after reporting a quarterly loss of 4.2m riyals versus a year-earlier profit of 33.9m riyals.
Qatar's index dropped 0.2 per cent but Qatar Navigation (Milaha) gained 2.3 per cent after saying on Monday that it was setting up a warehousing and logistics operation at Sohar, on Oman's northern coast, because economic sanctions by other Gulf states had disrupted its use of Jebel Ali port in Dubai.
COMPANY%20PROFILE
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Results
4pm: Maiden (Dirt) Dh165,000 1,600m
Winner: Moshaher, Pat Dobbs (jockey), Doug Watson (trainer).
4.35pm: Handicap (D) Dh165,000 2,200m
Winner: Heraldic, Richard Mullen, Satish Seemar.
5.10pm: Maiden (Turf) Dh165,000 1,600m
Winner: Rua Augusta, Harry Bentley, Ahmad bin Harmash.
5.45pm: Handicap (D) Dh190,000 1,200m
Winner: Private’s Cove, Mickael Barzalona, Sandeep Jadhav.
6.20pm: Handicap (T) Dh190,000 1,600m
Winner: Azmaam, Jim Crowley, Musabah Al Muhairi.
6.55pm: Handicap (D) Dh190,000 1,400m
Winner: Bochart, Richard Mullen, Satish Seemar.
7.30pm: Handicap (T) Dh190,000 2,000m
Winner: Rio Tigre, Mickael Barzalona, Sandeep Jadhav.
Specs%3A%202024%20McLaren%20Artura%20Spider
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UAE currency: the story behind the money in your pockets
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
The%20Genius%20of%20Their%20Age
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TYPES%20OF%20ONLINE%20GIG%20WORK
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A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Quarter-finals
Saturday (all times UAE)
England v Australia, 11.15am
New Zealand v Ireland, 2.15pm
Sunday
Wales v France, 11.15am
Japan v South Africa, 2.15pm
Killing of Qassem Suleimani
Killing of Qassem Suleimani
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
Honeymoonish
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In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
