UAE shares finish quiet week with dips



Shares in the UAE closed slightly lower on Thursday, rounding off the quietest week of trading of the month.

Saudi shares led gains across the Arabian Gulf, despite falling oil prices.

Brent crude futures fell by as much as 2.2 per cent to US$50.68 a barrel on Thursday, as rising gasoline stocks took the shine off a report by the Energy Information Administration showing lower than expected US crude inventories.

The Dubai Financial Market General Index rounded off a quiet week, closing the day down 0.6 per cent at 3,416.71, thanks to last-minute drops by Dubai Investments and DIB.

Emaar Malls led the sell-off, falling 4.8 per cent to Dh2.57. Emirates NBD led gainers on the index, ending up 0.7 per cent at Dh8.26, its third consecutive day in positive territory.

The Abu Dhabi Securities Exchange General Index ended the day 0.6 per cent lower at 4,512.91, dragged lower by Etisalat. The telco’s shares closed down 2.2 per cent at Dh17.45, erasing gains following the release of positive first-quarter results on Tuesday.

ADCB and Aldar Properties also ended the day lower. First Abu Dhabi Bank led gainers, rising 0.5 per cent to Dh11.

For the week, the Dubai benchmark lost 1.5 per cent and the Abu Dhabi gauge lost 0.2 per cent.

Saudi stocks led on Thursday’s gains across the region, with the Tadawul closing up 0.4 per cent thanks to gains by Sabic and Al Rajhi Bank.

Alawwal Bank rose strongly for a second straight day on merger talks with Saudi British Bank, closing up 2.6 per cent. The latter’s shares trimmed on Thursday’s gains, finishing down 1.3 per cent.

The Qatar Exchange led losses across the region, finishing 1.1 per cent lower on losses by QNB and Industries Qatar.

jeverington@thenational.ae

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While you're here
NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
UAE currency: the story behind the money in your pockets
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
Get inspired

Here are a couple of Valentine’s Day food products that may or may not go the distance (but have got the internet talking anyway).

Sourdough sentiments: Marks & Spencer in the United Kingdom has introduced a slow-baked sourdough loaf dusted with flour to spell out I (heart) you, at £2 (Dh9.5). While it’s not available in the UAE, there’s nothing to stop you taking the idea and creating your own message of love, stencilled on breakfast-inbed toast.  

Crisps playing cupid: Crisp company Tyrells has added a spicy addition to its range for Valentine’s Day. The brand describes the new honey and chilli flavour on Twitter as: “A tenderly bracing duo of the tantalising tingle of chilli with sweet and sticky honey. A helping hand to get your heart racing.” Again, not on sale here, but if you’re tempted you could certainly fashion your own flavour mix (spicy Cheetos and caramel popcorn, anyone?). 

Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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 SIXTH SENSE

Starring: Bruce Willis, Toni Collette, Hayley Joel Osment

Director: M. Night Shyamalan

Rating: 5/5

 

 

 

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

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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

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