DUBAI // The mosque at Dubai Police headquarters was officially named after police chief Lt Gen Khamis Mattar Al Muzeina, who died of a heart attack on Thursday aged 56.
Lt Gen Dhahi Khalfan Tamim, deputy chairman of Police and Public Security in Dubai, said the naming of the mosque was to immortalise Lt Gen Al Muzeina’s memory.
“This is the least we can do to offer one of the most loyal sons of this force. This is in his honour and a reflection of our feelings towards him,” he said.
“This man, may Allah bless his soul, spent his life serving his country, and he was as sincere as possible in his work, giving most of his time to Dubai Police, keen to safeguard its reputation and excellence to the extent that he would forget his own self.
“We have lost a man who can rarely be replaced, but this is Allah’s will and we believe in it. Death is inevitable and there is no escape from it, and we ask Allah to bestow his mercy on his soul.” Hundreds of police officers and civilians headed to the chief’s house on Friday to offer their condolences to his family.
On Friday, mourners led by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, attended the funeral prayers for Lt Gen Al Muzeina at Zabeel Grand Mosque. His body was laid to rest in Al Qusais Cemetery.
newsdesk@thenational.ae
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Starring: Jennifer Lawrence, Joel Egerton, Charlotte Rampling, Jeremy Irons
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Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
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How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
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Uefa Champions League semi-final, first leg
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5.30pm: Fujairah v Al Dhafra
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