Dubai Financial Market jumps alongside oil, global equities



UAE shares posted healthy gains on Wednesday, taking their cue from surging Asian bourses.

Japan’s Nikkei ended the day up 7.7 per cent, its highest one-day rise since the financial crisis of 2008, on expectations that the government will step up stimulus efforts to boost economic growth. Hong Kong’s Hang Seng closed up 4.1 per cent, while the Shanghai Composite Index rose 2.2 per cent.

Shares in Dubai gained 1.4 per cent at 3,626.00. Dubai Investments was among the main gainers, closing up 3.3 per cent at Dh2.45. DIB and Emaar Properties also rose 1.9 per cent and 0.63 per cent respectively.

Shares in Arabtec Holding were unchanged at Dh1.93, unmoved by reports on Tuesday that its project in Egypt for the construction of one million homes, at one point valued at US$40 billion, could be reduced to just 100,000 units.

The company has not issued any statement to the stock market concerning the reports, and has declined to comment on the matter.

In the capital, the Abu Dhabi Securities Exchange General Index surged 1.9 per cent at 4,501.55 – its highest close in nearly three weeks.

Etisalat was once again the main driver. The shares jumped 4.3 per cent to Dh14.35, their highest close since the end of July, ahead of the stock becoming available to foreign investors from Tuesday.

jeverington@thenational.ae

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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Company%20profile
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From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

The years Ramadan fell in May

1987

1954

1921

1888

The specs: 2018 BMW R nineT Scrambler

Price, base / as tested Dh57,000

Engine 1,170cc air/oil-cooled flat twin four-stroke engine

Transmission Six-speed gearbox

Power 110hp) @ 7,750rpm

Torque 116Nm @ 6,000rpm

Fuel economy, combined 5.3L / 100km

THE SPECS

Engine: 1.5-litre turbocharged four-cylinder

Transmission: Constant Variable (CVT)

Power: 141bhp 

Torque: 250Nm 

Price: Dh64,500

On sale: Now

PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

RESULTS
%3Cp%3E%3Cstrong%3E5pm%3A%20Sheikh%20Mansour%20bin%20Zayed%20Racing%20Festival%20%E2%80%93%20Handicap%20(PA)%20Dh100%2C000%20(Turf)%202%2C200m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Suny%20Du%20Loup%2C%20Pat%20Dobbs%20(jockey)%2C%20Hamad%20Al%20Marar%20(trainer)%3Cbr%3E%3Cstrong%3E5.30pm%3A%20Sheikh%20Mansour%20bin%20Zayed%20Racing%20Festival%20Cup%20%E2%80%93%20Conditions%20(PA)%20Dh150%2C000%20(T)%201%2C600m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Nadia%20Du%20Loup%2C%20Antonio%20Fresu%2C%20Sulaiman%20Al%20Ghunaimi%3Cbr%3E%3Cstrong%3E6pm%3A%20Sheikha%20Fatima%20bint%20Mubarak%20Cup%20%E2%80%93%20Conditions%20(PA)%20Dh150%2C000%20(T)%201%2C600m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Dareen%2C%20Dane%20O%E2%80%99Neill%2C%20Jean%20de%20Roualle%3Cbr%3E%3Cstrong%3E6.30pm%3A%20Sheikh%20Zayed%20bin%20Sultan%20Al%20Nahyan%20National%20Day%20Cup%20%E2%80%93%20Group%203%20(PA)%20Dh500%2C000%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20AF%20Alwajel%2C%20Pat%20Dobbs%2C%20Ernst%20Oertel%3Cbr%3E%3Cstrong%3E7.15pm%3A%20Sheikh%20Zayed%20bin%20Sultan%20Al%20Nahyan%20Jewel%20Crown%20%E2%80%93%20Group%201%20(PA)%20Dh5%2C000%2C000%20(T)%202%2C200m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20First%20Classs%2C%20Ronan%20Thomas%2C%20Jean%20De%20Mieulle%3Cbr%3E%3Cstrong%3E8pm%3A%20Sheikh%20Zayed%20bin%20Sultan%20Al%20Nahyan%20National%20Day%20Cup%20%E2%80%93%20Listed%20(TB)%20Dh380%2C000%20(T)%201%2C600m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20San%20Donato%2C%20Pat%20Dobbs%2C%20Doug%20Watson%3Cbr%3E%3Cstrong%3E8.30pm%3A%20Wathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh100%2C000%20(T)%201%2C600m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20AF%20Rasam%2C%20Fernando%20Jara%2C%20Ernst%20Oertel%3C%2Fp%3E%0A
Cricket World Cup League 2

UAE squad

Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind

Fixtures

Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE

The specs: 2019 BMW i8 Roadster

Price, base: Dh708,750

Engine: 1.5L three-cylinder petrol, plus 11.6 kWh lithium-ion battery

Transmission: Six-speed automatic

Power: 374hp (total)

Torque: 570Nm (total)

Fuel economy, combined: 2.0L / 100km

The Abu Dhabi Awards explained:

What are the awards? They honour anyone who has made a contribution to life in Abu Dhabi.

Are they open to only Emiratis? The awards are open to anyone, regardless of age or nationality, living anywhere in the world.

When do nominations close? The process concludes on December 31.

How do I nominate someone? Through the website.

When is the ceremony? The awards event will take place early next year.

Director: Jon Favreau

Starring: Donald Glover, Seth Rogen, John Oliver

Rating: 2 out of 5 stars

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Which honey takes your fancy?

Al Ghaf Honey

The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year

Sidr Honey

The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest

Samar Honey

The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments

Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

The Year Earth Changed

Directed by:Tom Beard

Narrated by: Sir David Attenborough

Stars: 4

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
Seven%20Winters%20in%20Tehran
%3Cp%3E%3Cstrong%3EDirector%20%3A%3C%2Fstrong%3E%20Steffi%20Niederzoll%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Reyhaneh%20Jabbari%2C%20Shole%20Pakravan%2C%20Zar%20Amir%20Ebrahimi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

RESULTS
%3Cp%3E3.30pm%3A%20Al%20Maktoum%20Challenge%20Round%203%20%E2%80%93%20Group%201%20(PA)%20%2475%2C000%20(Dirt)%202%2C000m%3Cbr%3EWinner%3A%20Jugurtha%20De%20Monlau%2C%20Pat%20Dobbs%20(jockey)%2C%20Jean-Claude%20Pecout%20(trainer)%3C%2Fp%3E%0A%3Cp%3E4.05pm%3A%20Dubai%20City%20Of%20Gold%20%E2%80%93%20Group%202%20(TB)%20%24250%2C000%20(Turf)%202%2C410m%3Cbr%3EWinner%3A%20Global%20Storm%2C%20William%20Buick%2C%20Charlie%20Appleby%3C%2Fp%3E%0A%3Cp%3E4.40pm%3A%20Burj%20Nahaar%20%E2%80%93%20Group%203%20(TB)%20%24250%2C000%20(D)%201%2C600m%3Cbr%3EWinner%3A%20Discovery%20Island%2C%20James%20Doyle%2C%20Bhupat%20Seemar%3C%2Fp%3E%0A%3Cp%3E5.15pm%3A%20Nad%20Al%20Sheba%20Turf%20Sprint%20%E2%80%93%20Group%203%20(TB)%20%24250%2C000%20(T)%201%2C200m%3Cbr%3EWinner%3A%20Al%20Dasim%2C%20Mickael%20Barzalona%2C%20George%20Boughey%3C%2Fp%3E%0A%3Cp%3E5.50pm%3A%20Al%20Bastakiya%20%E2%80%93%20Listed%20(TB)%20%24170%2C000%20(D)%201%2C900m%3Cbr%3EWinner%3A%20Go%20Soldier%20Go%2C%20Adrie%20de%20Vries%2C%20Fawzi%20Nass%3C%2Fp%3E%0A%3Cp%3E6.25pm%3A%20Al%20Maktoum%20Challenge%20Round%203%20%E2%80%93%20Group%201%20(TB)%20%24450%2C000%20(D)%202%2C000m%3Cbr%3EWinner%3A%20Salute%20The%20Soldier%2C%20Adrie%20de%20Vries%2C%20Fawzi%20Nass%3C%2Fp%3E%0A%3Cp%3E7.10pm%3A%20Ras%20Al%20Khor%20%E2%80%93%20Conditions%20(TB)%20%24300%2C000%20(T)%201%2C400m%3Cbr%3EWinner%3A%20Al%20Suhail%2C%20William%20Buick%2C%20Charlie%20Appleby%3C%2Fp%3E%0A%3Cp%3E7.45pm%3A%20Jebel%20Hatta%20%E2%80%93%20Group%201%20(TB)%20%24350%2C000%20(T)%201%2C800m%3Cbr%3EWinner%3A%20Alfareeq%2C%20Dane%20O%E2%80%99Neill%2C%20Charlie%20Appleby%3C%2Fp%3E%0A%3Cp%3E8.20pm%3A%20Mahab%20Al%20Shimaal%20%E2%80%93%20Group%203%20(TB)%20%24250%2C000%20(D)%201%2C200m%3Cbr%3EWinner%3A%20Sound%20Money%2C%20Mickael%20Barzalona%2C%20Bhupat%20Seemar%3C%2Fp%3E%0A
The specs

Engine: 3-litre twin-turbo V6

Power: 400hp

Torque: 475Nm

Transmission: 9-speed automatic

Price: From Dh215,900

On sale: Now

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5


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