Dubai shares rose to a two-week high after a senior official said the emirate was under no pressure to sell debt this year.
Emirates NBD, the country's biggest bank by assets gained 1.6 per cent while Emaar Properties, the company that built the world's tallest tower, gained 1.2 per cent to Dh3.29.The Dubai Financial Market General Index gained 0.6 per cent to 1,500.15 despite low volumes
"I think we might see some movement before the end of this week," said Samer al Jaouni, the general manager of Middle East Financial Brokerage. "Global markets fell on Thursday and Friday, yet we didn't see any reaction regionally yesterday, which is a positive sign."
Dubai's budget deficit this year may be lower than the 2 per cent of GDP forecast, Reuters reported on Monday, citing Dahi Khalfan Tamim, the head of the government's budget committee. "If the government finances are in stronger than expected shape and their ability to support the real estate sector, if necessary, is enhanced, then that can only be seen as good news," Paul Cooper, the managing director at Sarasin-Alpen & Partners in Dubai, told Bloomberg.
Dubai was hit hard by a property slump during the global recession, with selling prices falling by more than 50 per cent in some areas and project cancellations exceeding US$300 billion. Qatar's index declined 0.3 per cent. "Qatar is picking up in terms of volume and value, with appetite from foreign investors increasing, especially for the blue chip industrials and banks," said Mr al Jaouni.
The Bahrain All Share Index advanced 0.7 per cent and the Abu Dhabi Securities Exchange General Index increased 0.2 per cent. Saudi Arabia's Tadawul All Share Index added 0.3 per cent. Kuwait's gauge and Oman's benchmark stock index were little changed.
with Bloomberg and Reuters
23-man shortlist for next six Hall of Fame inductees
Tony Adams, David Beckham, Dennis Bergkamp, Sol Campbell, Eric Cantona, Andrew Cole, Ashley Cole, Didier Drogba, Les Ferdinand, Rio Ferdinand, Robbie Fowler, Steven Gerrard, Roy Keane, Frank Lampard, Matt Le Tissier, Michael Owen, Peter Schmeichel, Paul Scholes, John Terry, Robin van Persie, Nemanja Vidic, Patrick Viera, Ian Wright.
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
How much of your income do you need to save?
The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.
In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)
Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.
Illegal%20shipments%20intercepted%20in%20Gulf%20region
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Maestro
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Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
Continental champions
Best Asian Player: Massaki Todokoro (Japan)
Best European Player: Adam Wardzinski (Poland)
Best North & Central American Player: DJ Jackson (United States)
Best African Player: Walter Dos Santos (Angola)
Best Oceanian Player: Lee Ting (Australia)
Best South American Player: Gabriel De Sousa (Brazil)
Best Asian Federation: Saudi Jiu-Jitsu Federation
KILLING OF QASSEM SULEIMANI
Expo details
Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia
The world fair will run for six months from October 20, 2020 to April 10, 2021.
It is expected to attract 25 million visits
Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.
More than 30,000 volunteers are required for Expo 2020
The site covers a total of 4.38 sqkm, including a 2 sqkm gated area
It is located adjacent to Al Maktoum International Airport in Dubai South
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Buy farm-fresh food
The UAE is stepping up its game when it comes to platforms for local farms to show off and sell their produce.
In Dubai, visit Emirati Farmers Souq at The Pointe every Saturday from 8am to 2pm, which has produce from Al Ammar Farm, Omar Al Katri Farm, Hikarivege Vegetables, Rashed Farms and Al Khaleej Honey Trading, among others.
In Sharjah, the Aljada residential community will launch a new outdoor farmers’ market every Friday starting this weekend. Manbat will be held from 3pm to 8pm, and will host 30 farmers, local home-grown entrepreneurs and food stalls from the teams behind Badia Farms; Emirates Hydroponics Farms; Modern Organic Farm; Revolution Real; Astraea Farms; and Al Khaleej Food.
In Abu Dhabi, order farm produce from Food Crowd, an online grocery platform that supplies fresh and organic ingredients directly from farms such as Emirates Bio Farm, TFC, Armela Farms and mother company Al Dahra.