Given the recent negative market sentiment in the UAE, sometimes even minor victories should be savoured.
The Dubai Financial Market General Index pushed through a level of technical resistance as it rose 0.3 per cent to 1,742 yesterday, on a volume of 162.8 million shares.
"Markets crossed the 1,740 level, which was an important minor resistance point to cross, helped by news that banks are closer to agreements on Dubai World restructuring," said Mohammed Ali Yassin, based in Abu Dhabi with Shuaa Securities. Simon Cooper, the Middle East chief executive for HSBC, said on Monday that Dubai World's debt restructuring proposal could be accepted in a few weeks.
In the day's trading, Emirates NBD rose 1 per cent to Dh2.98, while Abu Dhabi Commercial Bank rose 1.5 per cent to Dh1.92.
Arabtec Construction was unchanged at Dh2.49 a share. Its shares led trading on the Dubai bourse as the company landed a Dh500 million contract from Damac Properties to build a residential project at Dubai Marina.
The shares of Drake & Scull International jumped 2.8 per cent higher to 91 fils each. The Dubai construction engineering firm won two contracts in Oman worth Dh44.2m
The Abu Dhabi Securities Market General Index firmed 0.1 per cent to 2,800.32 on volume of 55.6 million shares.
Etisalat's shares were unchanged at Dh10.70 each, but Mr Yassin said there were indications that someone is accumulating the stock after it hit Dh10.55 several days ago.
Elsewhere in the region, the key measure in Bahrain fell 1.1 per cent to 1,572.37; Kuwait eased by 0.2 per cent to 7,251.50; Qatar's benchmark lost 0.1 per cent to 7,516.75; and Muscat's bourse advanced 0.1 per cent to 6,860.21. The Saudi Tadawul All-Share index closed 0.1 per cent higher at 6,903.73.
halsayegh@thenational.ae
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
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
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"
IF YOU GO
The flights: FlyDubai offers direct flights to Catania Airport from Dubai International Terminal 2 daily with return fares starting from Dh1,895.
The details: Access to the 2,900-metre elevation point at Mount Etna by cable car and 4x4 transport vehicle cost around €57.50 (Dh248) per adult. Entry into Teatro Greco costs €10 (Dh43). For more go to www.visitsicily.info
Where to stay: Hilton Giardini Naxos offers beachfront access and accessible to Taormina and Mount Etna. Rooms start from around €130 (Dh561) per night, including taxes.
Our Time Has Come
Alyssa Ayres, Oxford University Press
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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
THREE POSSIBLE REPLACEMENTS
Khalfan Mubarak
The Al Jazira playmaker has for some time been tipped for stardom within UAE football, with Quique Sanchez Flores, his former manager at Al Ahli, once labelling him a “genius”. He was only 17. Now 23, Mubarak has developed into a crafty supplier of chances, evidenced by his seven assists in six league matches this season. Still to display his class at international level, though.
Rayan Yaslam
The Al Ain attacking midfielder has become a regular starter for his club in the past 15 months. Yaslam, 23, is a tidy and intelligent player, technically proficient with an eye for opening up defences. Developed while alongside Abdulrahman in the Al Ain first-team and has progressed well since manager Zoran Mamic’s arrival. However, made his UAE debut only last December.
Ismail Matar
The Al Wahda forward is revered by teammates and a key contributor to the squad. At 35, his best days are behind him, but Matar is incredibly experienced and an example to his colleagues. His ability to cope with tournament football is a concern, though, despite Matar beginning the season well. Not a like-for-like replacement, although the system could be adjusted to suit.
Drivers’ championship standings after Singapore:
1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
MATCH INFO
Uefa Champions League, Group B
Barcelona v Inter Milan
Camp Nou, Barcelona
Wednesday, 11pm (UAE)
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now