There will also be a drop in horizontal visibility as light to moderate winds are expected, causing blowing dust
weather10 hours ago
Drake & Scull International climbed the most in almost a month after HSBC Holdings Plc rated shares of the Dubai-based construction company “overweight.” Emaar Properties PJSC, the builder of the world’s tallest skyscraper, rose the most in almost three weeks. The DFM General Index increased 1.5 per cent, the most since April 11, to 1,739.88 after earlier losing as much as 0.5 per cent. The benchmark is down 0.9 per cent this week.
“The market is focusing on the fact that Dubai World continues to make progress with talks,” said Ali Khan, head of cash-equity trading at Dubai-based Arqaam Capital Ltd. “The market is taking the media reports well because it needs progress and a conclusion, so that these matters can be priced in and then we move on.”
Dubai World is unlikely to change the terms of its debt restructuring, a local daily reported today, citing unidentified people close to the Dubai government.
United Arab Emirates lenders such as Abu Dhabi Commercial Bank PJSC and Emirates NBD PJSC could face losses and writedowns in the range of 25 per cent, while foreign banks like HSBC and Royal Bank of Scotland Group Plc may lose about 15 per cent, the Abu Dhabi-based newspaper cited a person close to the negotiations as saying. Drake & Scull rose 2.8 per cent, the most since April 1, to 88.3 fils. The company was rated “overweight” in new coverage with a price estimate of Dh1.20 at HSBC. Emaar climbed 3.2 per cent, the most since April 11, toDh 3.91. Bahrain’s measure added 0.7 per cent and Qatar’s gained less than 0.1 per cent. The Kuwait Stock Exchange Index advanced 0.2 per cent to the highest since April 19. Oman’s MSM30 Index increased 0.3 per cent and Abu Dhabi’s ADX General Index was little changed. Saudi Arabia’s Tadawul All Share Index was closed for the weekend.—
There will also be a drop in horizontal visibility as light to moderate winds are expected, causing blowing dust
weather10 hours ago
The airlines continue to monitor developments across the region
aviation10 hours ago
Volunteers have quickly stepped in to support families by setting up and preparing the tents
uae11 hours ago
The airline had earlier alerted passengers about longer queues and slower check-ins
aviation11 hours ago
The External Affairs Minister said that he is travelling to Pakistan only to be a 'good member of the SCO'
asia11 hours ago
Sheikh Hamdan took to social media platform X to make the announcement on World Teachers' Day
visa and immigration in uae12 hours ago
These goods, which were seized by Customs, can be examined at Dubai Airports, Terminal 3
uae12 hours ago
He did not elaborate on the nature or timing of the response
mena12 hours ago