Dubai's stock market crept higher, led by Emaar Properties, after net profit at the region's biggest developer rose 45 per cent, driven by higher income from its malls and revival in the emirate's property market.
Emaar's shares rose 0.3 per cent to Dh3.25 on the Dubai Financial Market.
Net income rose to Dh614 million, from Dh250 million, Emaar said in a statement posted on the Dubai bourse website late Sunday.
The Dubai Financial Market General Index rose 0.1 per cent to 1510.79 points.
Emaar saw muted reaction following the results because "most of the movement was already priced in, the shares are up 12 per cent month to date," said Marwan Shurrab, the vice president and chief trader at Gulfmena Investments in Dubai.
Trading activity was lukewarm on the Abu Dhabi Securities Exchange, as the summer and Ramadan season went underway, a time where volumes are generally low.
Taqa, also known as Abu Dhabi National Energy, added 0.8 per cent to Dh1.23. Dana Gas fell 2.6 per cent to 37 fils. The Abu Dhabi Securities Exchange General Index slipped 0.01 per cent to 2485.30 points.
Elsewhere in the region, Kuwait's measure added 0.03 per cent to 5748.78 points. Bahrain's index slipped 0.3 per cent to 1109.62 points. Oman's MSM 30 Index slipped 0.06 per cent to 5373.47 points. Qatar's QE Index slipped 0.1 per cent to 8277.92 points.
The Saudi Tadawul All-Share Index gained 0.02 per cent yesterday to 6769.12 points.
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Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
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Essentials
The flights
Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours.
The package
Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.
The five pillars of Islam
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The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
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Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
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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.
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Zayed Sustainability Prize
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The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
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