UAE stock markets were little changed on Tuesday as oil prices staged a mild recovery.
The international benchmark Brent rose 0.5 per cent to US$38.5 a barrel in afternoon London trading, while West Texas Intermediate (WTI) rose 0.3 per cent to $36.6 a barrel. Brent fell on Friday to 2004 lows after the International Energy Agency warned that oversupply of crude oil may worsen next year, putting further pressure on prices.
“It is a volatile and mixed market because I think investors are uncertain of the outlook for the oil and its impact on the overall economies of the GCC,” said Tariq Qaqish, the head of asset management at Al Mal Capital. “Any impact on Saudi Arabia in terms of their economy will impact the trading business in the UAE, although [the UAE] has a diversified economy.”
The Dubai Financial Market General Index ended up 0.1 per cent to 2,919.64, led by construction and property stocks. Emaar Properties rose 2 per cent to Dh5.3, while the builder Arabtec inched up 0.8 per cent higher to Dh0.982.
The Abu Dhabi Securities Exchange General Index dipped 0.2 per cent to close at 4,014.92. Abu Dhabi Commercial Bank fell 3.5 per cent to Dh5.5, while Bank of Sharjah fell 2 per cent to Dh1.43.
dalsaadi@thenational.ae
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Unresolved crisis
Russia and Ukraine have been locked in a bitter conflict since 2014, when Ukraine’s Kremlin-friendly president was ousted, Moscow annexed Crimea and then backed a separatist insurgency in the east.
Fighting between the Russia-backed rebels and Ukrainian forces has killed more than 14,000 people. In 2015, France and Germany helped broker a peace deal, known as the Minsk agreements, that ended large-scale hostilities but failed to bring a political settlement of the conflict.
The Kremlin has repeatedly accused Kiev of sabotaging the deal, and Ukrainian officials in recent weeks said that implementing it in full would hurt Ukraine.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
MATCH INFO
Scotland 59 (Tries: Hastings (2), G Horne (3), Turner, Seymour, Barclay, Kinghorn, McInally; Cons: Hastings 8)
Russia 0
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The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
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SERIE A FIXTURES
Saturday (All UAE kick-off times)
Cagliari v AC Milan (6pm)
Lazio v Napoli (9pm)
Inter Milan v Atalanta (11.45pm)
Sunday
Udinese v Sassuolo (3.30pm)
Sampdoria v Brescia (6pm)
Fiorentina v SPAL (6pm)
Torino v Bologna (6pm)
Verona v Genoa (9pm)
Roma V Juventus (11.45pm)
Parma v Lecce (11.45pm)
if you go
The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.
The trip
Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.
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