Tabreed shares take early hit on bourse



Shares in Tabreed fell in the first day of trading after the company cut its share capital in an effort to eventually raise more money.

The company, also known as National Central Cooling Company, saw its share price fall 3.1 per cent to Dh2.00.

It has been trading at around 40 fils, but last week cancelled 970 million shares to lift its stock price high enough to issue new shares.

Local regulations forbid a company from issuing new shares if it trades under Dh1. Last week's move raised some concerns that an imminent capital raising would dilute shareholders.

The Dubai Financial Market (DFM) General Index rose 0.1 per cent to 1,695.16 points and the Abu Dhabi Securities Exchange General Index ticked 0.03 per cent higher to 2,762.53 points.

Property stocks reversed last week's highs as Aldar Properties, Abu Dhabi's biggest developer, lost 2 per cent to Dh2.45 and Arabtec retreated 1.4 per cent to Dh2.04.

Aldar last week gained the most in five weeks on speculation that the builder will secure government funding.

Oil was down 0.6 per cent to $87.790 per barrel on the New York Mercantile Exchange.

OPEC has dismissed last week's $90 oil price as a "blip" and Saudi oil minister Ali al Naimi said the range of $70 and $80 a barrel is a good price.

fhalime@thenational.ae

COMPANY%20PROFILE
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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 PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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THE LOWDOWN

Photograph

Rating: 4/5

Produced by: Poetic License Motion Pictures; RSVP Movies

Director: Ritesh Batra

Cast: Nawazuddin Siddiqui, Sanya Malhotra, Farrukh Jaffar, Deepak Chauhan, Vijay Raaz

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Alan Rushbridger, Canongate

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Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

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Name: ARDH Collective
Based: Dubai
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The biog

Favourite car: Ferrari

Likes the colour: Black

Best movie: Avatar

Academic qualifications: Bachelor’s degree in media production from the Higher Colleges of Technology and diploma in production from the New York Film Academy

Anxiety and work stress major factors

Anxiety, work stress and social isolation are all factors in the recogised rise in mental health problems.

A study UAE Ministry of Health researchers published in the summer also cited struggles with weight and illnesses as major contributors.

Its authors analysed a dozen separate UAE studies between 2007 and 2017. Prevalence was often higher in university students, women and in people on low incomes.

One showed 28 per cent of female students at a Dubai university reported symptoms linked to depression. Another in Al Ain found 22.2 per cent of students had depressive symptoms - five times the global average.

It said the country has made strides to address mental health problems but said: “Our review highlights the overall prevalence of depressive symptoms and depression, which may long have been overlooked."

Prof Samir Al Adawi, of the department of behavioural medicine at Sultan Qaboos University in Oman, who was not involved in the study but is a recognised expert in the Gulf, said how mental health is discussed varies significantly between cultures and nationalities.

“The problem we have in the Gulf is the cross-cultural differences and how people articulate emotional distress," said Prof Al Adawi. 

“Someone will say that I have physical complaints rather than emotional complaints. This is the major problem with any discussion around depression."

Daniel Bardsley

A timeline of the Historical Dictionary of the Arabic Language
  • 2018: Formal work begins
  • November 2021: First 17 volumes launched 
  • November 2022: Additional 19 volumes released
  • October 2023: Another 31 volumes released
  • November 2024: All 127 volumes completed