Islamic Arab Insurance (Salama) shares were the main gainers on the Dubai Financial Market on Wednesday, as investors piled into insurance stocks.
Salama shares had their busiest day of trading since November, ending the day up 6.5 per cent at 56.9 fils.
Shares in Takaful Emarat Insurance meanwhile rose 5.5 per cent to an all-time high of Dh1.70.
“Liquidity’s returning to the market, and retail investors are coming back in and looking to make money,” said Khaldoun Jaradat, a trading manager at Brokerage House Securities in Dubai.
“Investors have been looking at some non-active shares – like those in the insurance sector – and are trying to inject some liquidity in to make some money on them.”
Increased trading volumes in Salama and Takaful Emarat comes after similar increases for Methaq Takaful Insurance, he noted, which has gained 19.7 per cent since the start of the month.
Elsewhere, Dubai Investments shares closed at their highest level since November, ahead of the stock’s ex-dividend date on Thursday.
The conglomerate’s shares rose by 5 per cent to Dh2.89, their highest level in more than five months.
The DFM General Index gained 1.4 per cent to 3,828.99 points, the highest level since the end of February.
Methaq Takaful Insurance was one of the best performing stocks in Abu Dhabi, climbing 5.3 per cent to 79 fils.
The Abu Dhabi Securities Exchange General Index rose 0.5 per cent to 4,591.27, with gains by Eshraq Properties and RAK Properties countered by falling banking stocks.
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
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Sun jukebox
Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)
This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.
Elvis Presley, Mystery Train (1955)
The B-side of Presley’s final single for Sun bops with a drummer-less groove.
Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)
Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.
Carl Perkins, Blue Suede Shoes (1956)
Within a month of Sun’s February release Elvis had his version out on RCA.
Roy Orbison, Ooby Dooby (1956)
An essential piece of irreverent juvenilia from Orbison.
Jerry Lee Lewis, Great Balls of Fire (1957)
Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
Tank warfare
Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.
“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
More on animal trafficking