Dubai's main bourse rebounded from Sunday's lows after Ireland's agreement for an aid package of €85 billion buoyed markets across the globe.
The Dubai Financial Market General Index gained 0.9 per cent to 1,674.77 points.
The upturn came on the same day Mohamed Alabbar, the chairman of Emaar Properties, said that the emirate's property market had levelled out.
Property stocks were among the most traded as Emaar rose 1.1 per cent to Dh3.64 and Arabtec increased 1.6 per cent to Dh1.83.
The dollar traded at an almost two-month high against the euro at US$1.31. It is up almost 6 per cent since the US Federal Reserve announced a second round of quantitative easing to tackle inflation and unemployment.
But analysts were wary of the increase. "If you compare the UAE with emerging markets, we are still lagging far behind the BRICs [Brazil, Russia, India and China]. We still have no visibility in this market," said Sebestien Henin at The National Investor.
Abu Dhabi Commercial Bank fell 3 per cent to Dh2.22, Union National Bank dropped 4.4 per cent to Dh3.04, National Bank of Abu Dhabi closed 0.8 per cent down at Dh12.30, and Abu Dhabi Islamic Bank lost 2.6 per cent to Dh2.90. The Abu Dhabi Securities Exchange General Index slipped 0.6 per cent to 2,731.22 points.
Other regional indexes closed higher: Qatar rose 0.6 per cent to 8,158.52; Oman rose 0.3 per cent to 6,602.95; Bahrain gained 0.8 per cent to 1,438.87 and Kuwait added 0.6 per cent to 6,914.40.
The Saudi Tadawul All-Share Index rose 0.3 per cent to 6,332.43 points.
UAE markets will be closed this Thursday and Sunday for National Day and the Islamic New Year.
fhalime@thenational.ae
COMPANY%20PROFILE
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The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Company profile
Date started: January, 2014
Founders: Mike Dawson, Varuna Singh, and Benita Rowe
Based: Dubai
Sector: Education technology
Size: Five employees
Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.
Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)
The%20specs
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The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
yallacompare profile
Date of launch: 2014
Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer
Based: Media City, Dubai
Sector: Financial services
Size: 120 employees
Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)
More on Quran memorisation:
COMPANY%20PROFILE
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Match info
Bournemouth 0
Liverpool 4 (Salah 25', 48', 76', Cook 68' OG)
Man of the match: Andrew Robertson (Liverpool)
UAE currency: the story behind the money in your pockets
Company%20profile
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NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
SHAITTAN
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