Dubai shares fell on the last trading day of the week as investors wrestled with the implications of the bond deal by Emaar Properties.
The developer of the Burj Khalifa said on Wednesday that it would sell US$450 million in convertible bonds, and yesterday reported it received more than $3 billion in bids on the notes. "Investors did not understand the full impact of the Emaar bond on the stock," said Mohammed Ali Yasin, the chief investment officer at CAPM Investments in Abu Dhabi. "Some people may have read it negatively or stayed out of it."
Emaar fell 1.8 per cent to Dh3.73. Arabtec Holding dropped 0.4 per cent to Dh2.02 a share, while DFM Company, the operator of the Dubai Financial Market, lost 2.2 per cent to Dh1.75. The DFM General Index lost 1.1 per cent to 1,683.69, while the Abu Dhabi Securities Exchange General Index moved 0.1 per cent lower to 2,673.19. In Abu Dhabi, Etisalat, the country's largest telecommunications operator, was in focus as the stock resumed trading after the company confirmed its preliminary offer to buy 46 per cent of Kuwait's Zain.
Etisalat shares dropped 0.4 per cent to Dh10.75. Zain shares were halted yesterday and finished unchanged at 1.36 Kuwaiti dinars. Dana Gas led the losses in Abu Dhabi, moving 1.1 per cent lower to 83 fils. Elsewhere in the region: Bahrain's index remained unchanged at 1,444.76; Oman's bourse dipped 0.2 per cent to 6,472.76; Qatar's measure lost 0.2 per cent to 7,694.88; and Kuwait's index gained 0.8 per cent to 6,985.00. The Saudi Tadawul All-Share Index was closed for the day.
EXPATS
APPLE IPAD MINI (A17 PRO)
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Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY PROFILE
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The specs
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Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
UAE v Zimbabwe A
Results
Match 1 – UAE won by 4 wickets
Match 2 – UAE won by 5 wickets
Match 3 – UAE won by 25 runs
Match 4 – UAE won by 77 runs
Fixture
Match 5, Saturday, 9.30am start, ICC Academy, Dubai
Jigra
West Indies v India - Third ODI
India 251-4 (50 overs)
Dhoni (78*), Rahane (72), Jadhav (40)
Cummins (2-56), Bishoo (1-38)
West Indies 158 (38.1 overs)
Mohammed (40), Powell (30), Hope (24)
Ashwin (3-28), Yadav (3-41), Pandya (2-32)
India won by 93 runs
UAE Team Emirates
Valerio Conti (ITA)
Alessandro Covi (ITA)
Joe Dombrowski (USA)
Davide Formolo (ITA)
Fernando Gaviria (COL)
Sebastian Molano (COL)
Maximiliano Richeze (ARG)
Diego Ulissi (ITAS)
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COMPANY%20PROFILE
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The specs: Lamborghini Aventador SVJ
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Engine: 6.5-litre V12
Gearbox: Seven-speed automatic
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Name: Colm McLoughlin
Country: Galway, Ireland
Job: Executive vice chairman and chief executive of Dubai Duty Free
Favourite golf course: Dubai Creek Golf and Yacht Club
Favourite part of Dubai: Palm Jumeirah
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SPECS
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The specs
The specs
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COMPANY%20PROFILE
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
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Starring: Jamie Foxx, Angela Bassett, Tina Fey
Directed by: Pete Doctor
Rating: 4 stars
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5