Abu Dhabi’s stock market rose for a sixth day after the capital’s two biggest developers made progress towards a US$15 billion merger deal.
Aldar Properties and Sorouh Real Estate in a joint statement announced they had appointed investment banks and corporate law firms to undergo due diligence and valuation studies for a possible merger.
Aldar advanced 0.8 per cent to Dh1.14, while Sorouh Real Estate gained 0.9 per cent to Dh1.06.
The Abu Dhabi Securities Exchange (ADX) General Index rose 0.3 per cent to close at 2,463.38.
Smaller capitalised stocks accounted for more than a third of the overall trading activity on the Dubai Financial Market (DFM) General Index as traders sought to make quick gains from stocks that have room to rise in price.
Tamweel, a mortgage company complying with Sharia rules, gained 6 per cent to Dh1.22 a share. Tabreed, a district cooling company, gained 5.7 per cent to Dh1.29.
The DFM index gained 1 per cent to close at 1,483.00. The index rose as much as 30 per cent earlier this year, but has erased two thirds of its gains. The index is up 9.5 per cent from January 1.
“We are reaching technical rebound levels and it seems that the correction has been overstated,” said Haissam Arabi, the chief executive at the assetmanager Gulfmena Investments in Dubai.
Elsewhere in the region, Kuwait’s measure slipped 0.6 per cent to 6,072.36. Bahrain’s index lost 0.2 per cent to 1,135.01. Oman’s MSM 30 Index also lost 0.2 per cent to 5,743.69. Qatar’s QE Index added 0.1 per cent to 8,315.23.
The Saudi Tadawul All-Share Index gained 0.6 per cent to 6,790.96 points.
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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.
The Birkin bag is made by Hermès.
It is named after actress and singer Jane Birkin
Noone from Hermès will go on record to say how much a new Birkin costs, how long one would have to wait to get one, and how many bags are actually made each year.
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
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
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
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
England ODI squad
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jake Ball, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood.
COMPANY%20PROFILE
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The Light of the Moon
Director: Jessica M Thompson
Starring: Stephanie Beatriz, Michael Stahl-David
Three stars
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5