Arabtec Holding lifted investor sentiment after the construction company said its India unit had won a US$204 million order to build three apartment buildings.
The shares jumped 2.3 per cent to Dh1.33 on the Dubai Financial Market (DFM).
Arabtec, which helped to build the Burj Khalifa, said the projectswere awarded to its joint venture with Raheja Developers.
The DFM General Index rose for the first time in seven trading sessions, up 0.7 per cent to 1,395.43 points.
"It's positive for the company to diversify its portfolio outside the UAE," said Tariq Qaqish, a fund manager at Al Mal Capital in Dubai. "We hope their margins will be substantial in India."
In the capital, Abu Dhabi Commercial Bank jumped 2.5 per cent to Dh2.86 on the Abu Dhabi Securities Exchange (ADX) General Index. RAK Properties advanced 3 per cent to 34 fils. Sorouh Real Estate gained 0.9 per cent to Dh1.03 and Aldar Properties was up 0.9 per cent to Dh1.11.
The ADX gained 0.2 per cent to 2,494.46.
Elsewhere in the region: Kuwait's measure added 0.1 per cent to 5,826.10 points; Bahrain's bourse was little changed at 1,165.71; Oman's index lost 0.1 per cent to 5,534.97; and Qatar's exchange gained 1 per cent to 8,242.45
The Saudi Tadawul All-Share Index was closed for the day.
halsayegh@thenational.ae
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
Company%20Profile
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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EGuillermo%20del%20Toro%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Tim%20Blake%20Nelson%2C%20Sebastian%20Roche%2C%20Elpidia%20Carrillo%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Sukuk explained
Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.
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
