Arabian Gulf stock markets rose on Wednesday morning after oil prices extended gains and index compiler MSCI delayed the inclusion of Chinese domestic shares in its emerging markets index, maintaining the weighting of Qatari, UAE and Egyptian stocks.
Dubai’s index rose 1.4 per cent and Amlak Finance surged the daily 15 per cent limit for the sixth day in a row. The stock started trading again last week after a six-year suspension during which it restructured debt.
Another favourite with retail investors, builder Arabtec rose 12.3 per cent and was the most traded UAE stock. After repeated delays, Egypt said in May it was about to finalise a deal with Arabtec on a $36.7 billion housing project.
Abu Dhabi’s bourse edged up 0.5 per cent in a broad rally.
Qatar’s index was 0.1 per cent higher with petrochemicals-to-metals conglomerate Industries Qatar up 0.3 per cent.
Kuwait climbed 0.08 per cent, while Oman’s market was roughly flat.
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
COMPANY%20PROFILE
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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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
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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
Malcolm & Marie
Directed by: Sam Levinson
Starring: John David Washington and Zendaya
Three stars
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Wayne Rooney's career
Everton (2002-2004)
- Appearances: 48
- Goals: 17
Manchester United (2004-2017)
- Appearances: 496
- Goals: 253
England (2003-)
- Appearances: 119
- Goals: 53