Regional equity markets declined yesterday, tracking a weak showing on Wall Street over the weekend and negative indications out of the G8 meeting in Toronto.
The Dubai Financial Market General Index declined 0.37 per cent to 1,533, failing to carry forward the momentum from last week.
Deyaar Development, the second-largest Dubai-listed developer, which rose more than 13 per cent last week, dominated trading again. The company accounted for almost a third of the day's trading volume but closed flat at 34.5 fils.
Its larger counterpart, Emaar Properties, rose 0.3 per cent and helped the market recover some of its early losses. It closed at Dh3.27.
Kuwait's Ekttitab Holding was among the major losers, declining 6.2 per cent to 36.2 fils, followed by du, down 4.1 per cent to Dh2.09.
"We have pretty much completed the second quarter and there is not much to show for it," said Rami Awwad, a corporate adviser based in Abu Dhabi. "This is adding to weak investor confidence."
On the Abu Dhabi Securities Exchange General Index, which was down 0.09 per cent to 2,551, Aabar Investments was the major loser, declining 7 per cent to Dh1.58. Waha Capital retreated 3.3 per cent to 57 fils, while Sharjah Islamic Bank dropped 2.3 per cent to 82 fils.
The G8's members, including the US, Germany, Canada and the UK, termed the global recovery "fragile" but made few suggestions for strengthening it.
Kuwait's main measure retreated 0.8 per cent, while Muscat's and Qatar's both dropped 0.3 per cent. The Bahrain index ended 0.4 per cent lower, and the Saudi market lost 0.5 per cent.
skhan@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
Hamilton’s 2017
Australia - 2nd; China - 1st; Bahrain - 2nd; Russia - 4th; Spain - 1st; Monaco - 7th; Canada - 1st; Azerbaijan - 5th; Austria - 4th; Britain - 1st; Hungary - 4th; Belgium - 1st; Italy - 1st; Singapore - 1st; Malaysia - 2nd; Japan - 1st; United States - 1st; Mexico - 9th
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
KILLING OF QASSEM SULEIMANI
