Investors have booked profits after a strong rally by UAE bourses at the start of the year.
Emaar Properties declined 2 per cent yesterday to 81 fils a share. The developer of the Burj Khalifa on Tuesday said net income jumped to Dh716 million in the fourth quarter from Dh274m in the same period a year earlier. Emaar's shares have risen 15 per cent this year.
Analysts expected the company to report a profit of Dh460m.
The Dubai Financial Market (DFM) General Index retreated 1 per cent to 1,522.77. The DFM has outperformed regional markets, rising 12.5 per cent since January 1.
"It's profit-taking, not really a disappointment," said Haissam Arabi, the chief executive at Gulfmena Investments in Dubai.
The Abu Dhabi Securities Exchange (ADX) General Index and DFM General Index lost 11.6 per cent and 16.9 per cent, respectively, last year. Despite the market declines, many held their stocks with the expectation of strong payouts at the end of the year.
Aldar Properties, Abu Dhabi's biggest developer, on Monday recommended a cash dividend of 5 fils per share after it posted a net profit of Dh642.5m for last year. Aldar's shares fell 1.9 per cent to Dh1.02 yesterday. The ADX General Index was little changed at 2,487.99.
Elsewhere in the region: Kuwait's measure declined 0.7 per cent to 5,963.50; Bahrain's was unchanged at 1,142.43; Oman's MSM 30 Index rose 0.5 per cent to 5,636.86; and Qatar's QE Index rose 0.7 per cent to 8,630.28. The Saudi Tadawul All-Share Index was little changed at 6,811.97.
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Specs
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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Read part four: an affection for classic cars lives on
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Sir Tim Berners-Lee was born in London in a household of mathematicians and computer scientists. Both his mother, Mary Lee, and father, Conway, were early computer scientists who worked on the Ferranti 1 - the world's first commercially-available, general purpose digital computer. Sir Tim studied Physics at the University of Oxford and held a series of roles developing code and building software before moving to Switzerland to work for Cern, the European Particle Physics laboratory. He developed the worldwide web code as a side project in 1989 as a global information-sharing system. After releasing the first web code in 1991, Cern made it open and free for all to use. Sir Tim now campaigns for initiatives to make sure the web remains open and accessible to all.
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- Cherish Cafe Dubai, Dubai Investment Park, are giving away free coffees all day.
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ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
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SPECS
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The more serious side of specialty coffee
While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.
The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.
Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”
One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.
Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms.
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
