Most Gulf markets closed little changed on the first day of the trading week as the slowdown during Ramadan hit volumes and investors took a cautious view on the pace of the global economic recovery.
UAE stock exchanges saw just over 55 million shares traded after a week in which global markets fell on concerns about employment in the US and economic output in Japan.
"Buying momentum is still weak, leaving the market susceptible to selling pressure," analysts at Shuaa Securities said in a research note. "In short, we continue to see weak buying conviction, and remind traders of the need to maintain a cautious approach to trading."
Crude oil also hit a six-week low last week of US$73.46 on the New York Mercantile Exchange.
The Abu Dhabi Securities Exchange General Index was unchanged at 2505.58. First Gulf Bank, the third-largest lender by market capitalisation, fell 0.7 per cent to Dh13.85 a share, and Abu Dhabi Commercial Bank dipped 0.5 per cent to Dh1.68.
Aabar Investments dropped 4.9 per cent to Dh1.53.
The Dubai Financial Market (DFM) General Index also remained unchanged at 1491.67. The country's second telecommunications company, du, was the most active stock on the DFM, adding 3.4 per cent to close at Dh2.11 as 8.7 million shares changed hands.
Elsewhere in the region, only Qatar's bourse recorded significant gains, rising 0.9 per cent. Qatar National Bank, the country's biggest lender by assets, rose 1.4 per cent.
The Kuwait, Bahrain and Saudi bourses all closed the day unchanged. Oman's MSM30 index dropped 0.3 per cent to 6308.42.
halsayegh@thenational.ae
Get Out
Director: Jordan Peele
Stars: Daniel Kaluuya, Allison Williams, Catherine Keener, Bradley Whitford
Four stars
Killing of Qassem Suleimani
Russia's Muslim Heartlands
Dominic Rubin, Oxford
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Profile of Udrive
Date started: March 2016
Founder: Hasib Khan
Based: Dubai
Employees: 40
Amount raised (to date): $3.25m – $750,000 seed funding in 2017 and a Seed round of $2.5m last year. Raised $1.3m from Eureeca investors in January 2021 as part of a Series A round with a $5m target.
Oppenheimer
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EChristopher%20Nolan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ECillian%20Murphy%2C%20Emily%20Blunt%2C%20Robert%20Downey%20Jr%2C%20Florence%20Pugh%2C%20Matt%20Damon%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E5%2F5%3Cbr%3E%3C%2Fp%3E%0A
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
Gertrude Bell's life in focus
A feature film
At one point, two feature films were in the works, but only German director Werner Herzog’s project starring Nicole Kidman would be made. While there were high hopes he would do a worthy job of directing the biopic, when Queen of the Desert arrived in 2015 it was a disappointment. Critics panned the film, in which Herzog largely glossed over Bell’s political work in favour of her ill-fated romances.
A documentary
A project that did do justice to Bell arrived the next year: Sabine Krayenbuhl and Zeva Oelbaum’s Letters from Baghdad: The Extraordinary Life and Times of Gertrude Bell. Drawing on more than 1,000 pieces of archival footage, 1,700 documents and 1,600 letters, the filmmakers painstakingly pieced together a compelling narrative that managed to convey both the depth of Bell’s experience and her tortured love life.
Books, letters and archives
Two biographies have been written about Bell, and both are worth reading: Georgina Howell’s 2006 book Queen of the Desert and Janet Wallach’s 1996 effort Desert Queen. Bell published several books documenting her travels and there are also several volumes of her letters, although they are hard to find in print. Original documents are housed at the Gertrude Bell Archive at the University of Newcastle, which has an online catalogue.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
The specs
Engine: 2.0-litre four-cylinder turbo
Power: 178hp at 5,500rpm
Torque: 280Nm at 1,350-4,200rpm
Transmission: seven-speed dual-clutch auto
Price: from Dh209,000
On sale: now