Egypt's benchmark was the worst performer in the region yesterday, amid renewed investor worries about the North African country's economy.
The EGX 30 index fell by as much as 1.2 per cent during trading. It ended the session 1.00 per cent lower to 5,318.85 points.
"There is a lot of volatility due to the political issue in Egypt," said Nabil Farhat, a partner at Al Fajer Securities, a brokerage in Abu Dhabi.
UAE bourses dipped lower yesterday as investors sold stocks ahead of the holidays.
"There are a lot of investors already on leave. No one expects a lot of interest in the markets in the next couple of days," said Marwan Shurrab, the vice president and chief trader at Gulfmena Investments, an asset-manager in Dubai.
Emaar Properties declined 1.3 per cent to Dh3.70. Tamweel, the Sharia-compliant mortgage firm, dropped 2.5 per cent to Dh1.13.
Gulf Navigation, the only publicly listed tanker owner in the country, fell 1.8 per cent to 27 fils.
The Dubai Financial Market General Index declined 0.8 per cent to 1,594.12 points.
On Dubai's Nasdaq, the ports operator DP World halted losses, advancing 0.6 per cent to US$11.50 on the same day a report in The National said its London Gateway project was progressing and should be completed late next year.
Insurers led declines in the capital on low volumes. Al Dhafra Insurance's shares fell 7.6 per cent to Dh6 each. Green Crescent Insurance fell 2.2 per cent to 44 fils.
The Abu Dhabi Securities Exchange General Index slipped 0.3 per cent to 2,628.67 points.
halsayegh@thenational.ae
Results
6.30pm Madjani Stakes Rated Conditions (PA) I Dh160,000 I 1,900m I Winner: Mawahib, Tadhg O’Shea (jockey), Eric Lemartinel (trainer)
7.05pm Maiden Dh150,000 I 1,400m I Winner One Season, Antonio Fresu, Satish Seemar
7.40pm: Maiden Dh150,000 I 2,000m I Winner Street Of Dreams, Pat Dobbs, Doug Watson
8.15pm Dubai Creek Listed I Dh250,000 I 1,600m I Winner Heavy Metal, Royston Ffrench, Salem bin Ghadayer
8.50pm The Entisar Listed I Dh250,000 I 2,000m I Winner Etijaah, Dane O’Neill, Doug Watson
9.25pm The Garhoud Listed I Dh250,000 I 1,200m I Winner Muarrab, Dane O’Neill, Ali Rashid Al Raihe
10pm Handicap I Dh160,000 I 1,600m I Winner Sea Skimmer, Patrick Cosgrave, Helal Al Alawi
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
A Cat, A Man, and Two Women
Junichiro Tamizaki
Translated by Paul McCarthy
Daunt Books
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%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
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Match info
Uefa Champions League Group H
Juventus v Valencia, Tuesday, midnight (UAE)
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5