Through his efforts, this 22-year-old man showed people that an ordinary person can make a contribution through sheer will and determination, says Canadian government
world3 days ago
The Dubai’s stock benchmark index fell 283.36 points, or 6.7 per cent, to end the session at 3,844.27 points, it’s biggest decline since March 14, 2006 when the key index slid 11.4 per cent to 5,072.97 points. The Abu Dhabi Securities Exchange’s (ADI) General Index slid 186.88 points, or 4.72 per cent, to 3,769.84. The real estate sector was the major decliner in both markets with a fall of 11 per cent and 9 per cent at DFM and ADI, respectively after the markets ignored the proposed merger of Dubai-based mortgage lenders Amlak Finance and Tamweel. Shares in both the companies declined on the first day of the trading after Eid holidays. Amlak fell 3.9 per cent to Dh3.17 while Tamweel 7.36 per cent to close at Dh3.52. Emaar Properties, the Middle East’s biggest real-estate developer, tumbled 12.3 per cent to Dh6.8 after the firm said it plans to build a $7.2 billion joint-venture project with Al Shoala Group in Saudi Arabia.
“Real estate stocks were one of the most hard hit on Sunday as they represent some of the most popular stocks to foreign investors, who are squaring positions to recover their overseas losses,” Ahmad Shahin, Equity Strategist at Shuaa Capital, told Khaleej Times.
Dealers said UAE’s markets opened after a five-day Eid holidays and that during last week world markets faced a turbulent time on concerns over the US bailout plan, which was eventually passed. “The global cues are playing a role, the bad numbers in the US, the lack of confidence among investors in the capital markets and whether the US bailout will be sufficient,” Bloomberg quoted P. Krishna Murthy, who heads the financial services division of the Al Rostamani Group, as saying.
Through his efforts, this 22-year-old man showed people that an ordinary person can make a contribution through sheer will and determination, says Canadian government
world3 days ago
Aftershocks shake the island nation overnight; people queue for fuel and essentials; US, Australia and France send aid, rescue teams
world3 days ago
The 53-year-old from Alabama is currently the only living person with an animal organ transplant
world3 days ago
Sara had been subjected to 'acts of extreme cruelty' but Sharif and Batool had not shown 'a shred of remorse', says judge Cavanagh
world3 days ago
The UNHCR Director said that some of those fleeing could be linked to the former government or else be religious minorities with concerns
world3 days ago
Rafah residents say Israeli tanks pushed deeper towards the western area of Mawasi, known as a humanitarian-designated area
world4 days ago
Kamal Adwan is one of the last operational medical facilities in the north of the war-ravaged territory, with the WHO warning earlier this month that it was operating at a 'minimum' level
world4 days ago
A tsunami warning was issued after the quake, with waves of up to one metre forecast for some areas, but it was soon lifted by the Pacific Tsunami Warning Centre
world4 days ago