DUBAI // Dubai's shares rose to the highest in more than three months as higher-than-expected profits at UAE companies, including Emaar Properties, boosted confidence in an economic recovery.
Emaar, the developer of the Burj Khalifa, which reported a more than doubling of second-quarter profit last month, rose 1.8 per cent. Du, one of two phone companies in the UAE, gained for a fourth day. The Dubai Financial Market General Index climbed 1 per cent to 1,583.21 at 11:42 am in the emirate, the highest intraday level since May 6, taking its gain so far this month to 2.6 per cent. Qatar's gauge slipped 0.1 per cent, while the Bloomberg GCC 200 Index added 0.1 percent.
"Strong second-quarter earnings have attracted both local and foreign investors to certain stocks and improved sentiment overall," said Waleed Al Khateeb, a senior finance manager at Daman Securities in Dubai. "This is a good point of entry as fundamentals are looking good."
Emaar, which has the biggest weighting on Dubai's index, last month said profit climbed to Dh614 million dirhams from Dh250m a year earlier as Dubai's retail and tourism industries extend their best year since the 2008 property crash.
Emaar's profit topped the Dh545 million mean estimate of five analysts, according to data compiled by Bloomberg. The shares advanced to Dh3.48 today, set for the highest close since April 2011. They are up 35 per cent this year, compared with a gain of 17 per cent in Dubai's main gauge.
Du, formally known as Emirates Integrated Telecommunications, rallied 1.2 per cent to Dh3.45, set for the highest close since April 15. Du said in July net income after the 50 per cent royalty payment to the government climbed 57 per cent to Dh325.5m.
Elsewhere in the Gulf, Oman's MSM30 Index advanced 0.4 percent. Bahrain's BB All Share Index was unchanged while Abu Dhabi's ADX General Index and Kuwait's Stock Exchange Price Index gained 0.2 percent.
* Bloomberg News
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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Set-jetting on the Emerald Isle
Other shows filmed in Ireland include: Vikings (County Wicklow), The Fall (Belfast), Line of Duty (Belfast), Penny Dreadful (Dublin), Ripper Street (Dublin), Krypton (Belfast)
if you go
The flights
Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning.
The trains
Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.
The hotels
Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.
How it works
Booklava works on a subscription model. On signing up you receive a free book as part of a 30-day-trial period, after which you pay US$9.99 (Dh36.70) per month to gain access to a library of books and discounts of up to 30 per cent on selected titles. You can cancel your subscription at any time. For more details go to www.booklava.com
The Byblos iftar in numbers
29 or 30 days – the number of iftar services held during the holy month
50 staff members required to prepare an iftar
200 to 350 the number of people served iftar nightly
160 litres of the traditional Ramadan drink, jalab, is served in total
500 litres of soup is served during the holy month
200 kilograms of meat is used for various dishes
350 kilograms of onion is used in dishes
5 minutes – the average time that staff have to eat
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
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Pad Man
Dir: R Balki
Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte
Three-and-a-half stars
Killing of Qassem Suleimani
Ultra processed foods
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;
- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
