The Abu Dhabi Securities Exchange (ADX) General Index closed in the red yesterday, led by banks, as investors avoided risky assets amid worries about the impact of Europe's debt crisis.
National Bank of Abu Dhabi, the country's second-biggest bank by assets, fell 0.4 per cent to Dh10.50. First Gulf Bank, a lender controlled by Abu Dhabi's ruling family, fell 0.9 per cent to Dh14.95. The ADX General Index slipped 0.1 per cent to 2,475.57.
"The stock market is a reflection of the overall economy, with liquidity tightening in the banking sector triggering a pull-back in banking stocks," said Nabil Farhat, a partner at Al Fajer Securities in Abu Dhabi.
The banking sector's annual growth of deposits began slowing considerably in August, when it fell back to 7.3 per cent. It hit a 10-month low of 5.3 per cent in September, according to the latest data from the Central Bank.
The figures are a stark contrast to February, when deposits reached a peak of 16 per cent.
The Dubai Financial Market General Index inched down 0.08 per cent to 1,387.13, while traded value reached Dh19.5 million, its lowest level since August 2004.
Elsewhere in the region: Kuwait's measure was down 0.1 per cent to 5,871.30; Bahrain's gained 0.7 per cent to close at 1,159.11; Oman's MSM 30 Index was little changed at 5,532.08; and Qatar's QE Index was flat at 8,748.57.
The Saudi Tadawul All-Share Index closed 0.1 per cent lower at 6,219.95.
halsayegh@thenational.ae
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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 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 old
- 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 or 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
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.
Users can also invite other contacts to download ToTok to allow them to make contact through the app.
