Dubai’s stock market closed lower today owing to weak construction and real estate shares. Saudi stocks rebounded after three days of sell-offs, while Abu Dhabi closed slightly lower.
Arabtec Holding was among the worst performing big- name stocks in Dubai, closing down by 2.5 per cent at Dh2.55, with fellow construction group Drake & Scull International closing 6.2 per cent lower.
The Dubai Financial Market General Index closed 0.5 per cent lower at 3,290.76.
Index bellwether Emaar Properties fell by 0.2 per cent to Dh6.62, with Emaar Malls and Damac Properties falling 1.5 per cent and 2.3 per cent respectively.
Abu Dhabi shares closed 0.3 per cent lower at 4,218.72, because of a 1.7 per cent decline by FGB.
Shares in UNB rose by 3.1 per cent to Dh4.39, as analysts continued to speculate about a potential acquisition of the bank by ADCB, whose shares rose by 3.4 per cent.
UNB’s share price rise came after the announcement of a new Takaful insurance venture in conjunction with Orient Insurance.
Trading volumes in the capital fell closer to average levels yesterday, due to a comparatively quiet day for recent favourite Eshraq Properties.
The developer’s shares closed 7.5 per cent lower at Dh1.11, breaking a three-day winning streak, during which the stock rose by nearly 18 per cent.
In Saudi Arabia, the Tadawul finished the day up 1.6 per cent, on the back of gains by Almarai, Sabic and Jabal Omar Development.
In Doha, the Qatar Exchange closed 0.4 per cent lower at 9,740.80, dragged by QNB and Industries Qatar.
jeverington@thenational.ae
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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
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
How Beautiful this world is!
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
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
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now