Aramex was a rare bright spot yesterday as most investors sold off their positions in property and banking stocks.
Shares in the logistics courier rose nearly 2 per cent to Dh2.04 on Dubai's main bourse. Earlier in the week it announced strategic acquisitions and partnerships in Turkey, Malaysia, Bangladesh and Vietnam.
Samer al Jaouni, the general manager at Middle East Financial Brokerage, said: "Everyone is buying into Aramex because of the acquisition news and [because] people are trying to diversify."
However, construction companies and building contractors, considered heavyweights in the UAE market, continued to fall as traders booked profits to shelter themselves from risky positions as the year-end approaches.
The builder of the world's tallest tower, Emaar Properties, slipped nearly 1.95 per cent to Dh3.52 and Arabtec lost 1.54 per cent to Dh1.92. Deyaar Development, the only property stock to gain in the morning trading session, closed flat at Dh0.30. In Abu Dhabi, Aldar Properties retreated 1.7 per cent to Dh2.26, RAK Properties was flat at Dh0.46, and Sorouh Real Estate slipped 0.6 per cent to Dh1.66.
Confidence in banking stocks was also downbeat. Dubai Islamic Bank was the biggest loser in Dubai as it dropped 0.9 per cent to Dh2.15, and in the capital First Gulf Bank slipped 0.3 per cent to Dh18.55.
The Dubai Financial Market General Index fell 0.8 per cent to 1,629.98 points and the Abu Dhabi Securities Exchange General Index slipped 0.4 per cent to 2,716.08 points.
Elsewhere in the region, Qatar fell 0.5 per cent 8,772.67 points; Oman was down 0.08 per cent to 6,645.55 points; Bahrain gained 0.2 per cent to 1,427.14 points; Kuwait rose 0.6 per cent to 6,827.30 points; and the Saudi Tadawul All-Share Index fell 0.3 per cent to 6,500.27.
fhalime@thenational.ae
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
NEW ARRIVALS
Benjamin Mendy (Monaco) - £51.75m (Dh247.94m)
Kyle Walker (Tottenham Hotspur) - £45.9m
Bernardo Silva (Monaco) - £45m
Ederson Moraes (Benfica) - £36m
Danilo (Real Madrid) - £27m
Douglas Luiz (Vasco de Gama) - £10.8m
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
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
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
Ahmed Raza
UAE cricket captain
Age: 31
Born: Sharjah
Role: Left-arm spinner
One-day internationals: 31 matches, 35 wickets, average 31.4, economy rate 3.95
T20 internationals: 41 matches, 29 wickets, average 30.3, economy rate 6.28