Most Gulf stock markets edged up early on Sunday in line with a strong trend for global equities, though Qatar pulled back after last week's strong rebound and weak corporate earnings hurt Oman.
The Saudi index climbed 0.5 per cent in the first half-hour in a broad rally, with advancing stocks outnumbering decliners by 124 to 20. Banque Saudi Fransi added 2.6 per cent.
Dubai's index gained 0.3 per cent as Union Properties, the most heavily traded stock, rose 0.4 per cent.
Abu Dhabi edged up 0.2 per cent as Dana Gas climbed 1.5 per cent; in a statement, the company described recent decisions by London's High Court, which had been previously reported by Reuters, as favourable for its effort to restructure US$700 million of outstanding sukuk.
Ajman Bank gained 2.6 per cent despite reporting a moderate fall in second-quarter net profit; operating income actually rose slightly.
Qatar's index fell back 1.1 per cent with Qatar National Bank, the biggest lender, losing 1.4 per cent. Last week, the index rebounded strongly as it became clear that the economic impact of sanctions imposed by neighbouring Arab states on Qatar was not as damaging as some had feared.
Oman dropped 0.5 per cent as a string of weak earnings showed the strain that low oil prices and government austerity measures have placed on the economy.
Raysut Cement slipped 0.8 per cent after reporting that first-half net profit shrank by nearly two-thirds from a year earlier, with turnover also dropping.
Oman Telecommunications sank 3.3 per cent after reporting a 39 per cent fall in first-half profit, with revenue stagnant.
Bank Dhofar lost 3.2 per cent after first-half consolidated net profit shrank 13 per cent, and National Gas plunged its daily 10 per cent limit in very thin trade after it said first-half profit more than halved.
*Reuters
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
MADAME%20WEB
%3Cp%3EDirector%3A%20S.J.%20Clarkson%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Dakota%20Johnson%2C%20Tahar%20Rahim%2C%20Sydney%20Sweeney%3C%2Fp%3E%0A%3Cp%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
MATCH INFO
Euro 2020 qualifier
Fixture: Liechtenstein v Italy, Tuesday, 10.45pm (UAE)
TV: Match is shown on BeIN Sports
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.
if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years-of-age
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his/her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30-years-old and able to support the child financially
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
British Grand Prix free practice times in the third and final session at Silverstone on Saturday (top five):
1. Lewis Hamilton (GBR/Mercedes) 1:28.063 (18 laps)
2. Sebastian Vettel (GER/Ferrari) 1:28.095 (14)
3. Valtteri Bottas (FIN/Mercedes) 1:28.137 (20)
4. Kimi Raikkonen (FIN/Ferrari) 1:28.732 (15)
5. Nico Hulkenberg (GER/Renault) 1:29.480 (14)
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
Challenge Cup result:
1. UAE 3 faults
2. Ireland 9 faults
3. Brazil 11 faults
4. Spain 15 faults
5. Great Britain 17 faults
6. New Zealand 20 faults
7. Italy 26 faults
