Oil prices pull Tadawul down

February 9, 2017

Dubai, Feb 9: A drop in oil prices pulled stocks in Saudi Arabia down on Wednesday. The Tadawul All Share Index (TASI) dropped 1 percent.

oilAll 14 listed petrochemical producers declined with Nama Chemicals, the worst performer in that sector, retreating 5.3 percent and Saudi Kayan losing 2.4 percent. Banking shares were also weak with heavyweight Samba Financial Group dropping 3.2 percent.

Qatar’s stock market rose after a major real estate company swung to a fourth-quarter profit. The Qatari index closed 0.7 percent higher as Barwa Real Estate surged 8.3 percent in its heaviest trade for 1-1/2 years. It posted a quarterly net profit of 108 million riyals ($29.7 million) versus a loss of 518 million riyals a year earlier; the board recommended a 2016 cash dividend of 2.5 riyals ($0.69) per share, higher than the 2.2 riyals ($0.60) proposed for 2015.

Dubai’s index added 0.2 percent, its fourth straight session of gains, with Emaar Properties rising 1.5 percent and DXB Entertainments adding 0.9 percent.

Energy companies in Abu Dhabi outperformed in the run-up to their fourth-quarter earnings announcements, which are expected on Thursday. Abu Dhabi National Energy climbed 2 percent and Dana Gas gained 1.9 percent.

Egypt’s blue chip index rose 0.8 percent to 13,228 points but closed far off the day’s high of 13,411 points. It faces technical resistance on its record high of 13,544 points, hit last month.

Juhayna Food Industries jumped 9.2 percent to 7.83 Egyptian pounds ($0.43), bringing its gains over the past three days to 34.5 percent. Arabian Food Industries added 5.3 percent.

The food sector came under heavy pressure after the float of the Egyptian pound on Nov. 3 as currency depreciation inflated costs of imported raw materials and rising inflation hit consumer purchasing power. But traders said some investors were now giving the sector a second look.

Hady Medhat, a food industry analyst at Naeem Brokerage, said Juhayna was a standout in the sector because of its healthy gross margins.

“Juhayna stocked up on inventories of raw materials when the pound was trading around 13.5 per US dollar and is well hedged up to at least the third quarter of 2017,” he said, adding that the company’s decision to increase product prices since last April was working in its favor.

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KT
June 15,2020

Dubai, Jul 15: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, announced the launch of a 'New Media Academy in Dubai on Monday - a new institution that will train people on the science of digital media.

Taking to Twitter, Sheikh Mohammed said that new media is a new science that has its own set of special tools and secrets, and that the future cadres of UAE must be at the forefront of it.

"The academy will prepare new experts and managers in the field of communication in government and private institutions, as well as training professional social media influencers", Sheikh Mohammed tweeted, adding that the new media is providing new job opportunities and careers today, and will always be a main supporter in the journey of development.

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coastaldigest.com web desk
July 6,2020

Dubai, July 6: In an attempt to make a comeback in the tourism sector amidst managing covid-19 crisis, Dubai is all set to welcome holiday-makers from foreign countries from July 7.

It said those entering would have to present certificates to show they had recently tested negative for the coronavirus or would undergo tests on arrival at Dubai airports.

Reassuring tourists of several comprehensive measures to prevent the transmission of the pandemic, Dubai Tourism urged global travellers to make the city that boasts world class health and safety standards "a must-visit destination."

Dubai Tourism hosted a virtual forum for stakeholders and partners to share its industry outlook ahead of the city's reopening to international tourists.

The forum, which was attended by nearly 2,000 key executives from the aviation, travel and hospitality sectors and across tourism touch-points, provided a first-hand insight into current and post-pandemic strategies that will help accelerate tourism momentum and position Dubai as a safe global destination.

Helal Saeed Almarri, director general, Dubai Tourism, said that the city has put in place a robust strategy to manage the pandemic with the key priority being to safeguard the health and well-being of citizens, residents and guests.

Dubai, which saw a 5.1 per cent in tourist traffic to 16.73 million in 2019, remains top of mind for travellers and ranks high in global Internet search rankings for tourist destinations.

Dubai Tourism has launched marketing activities designed to convey positive messages about travel in today's environment, Dubai's preparedness, high standards of quality and safety, unique experiences that await visitors and also address traveller concerns across every touch-point in their journey.

The forum highlighted the preventive measures taken so far against Covid-19 that have further elevated the UAE's standing as one of the world's safest countries. The UAE is globally ranked No.3 in testing per million of population. It was also ranked No.3 in an international survey that assessed satisfaction with governments' response to the pandemic.

Over 350 influencers were also deployed to take the Dubai story in 14 different languages to a global audience spanning 18 markets, which yielded over 21 million engagements across multiple social media platforms.

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Agencies
July 23,2020

Abu Dhabi, Jul 23: Muslims in the United Arab Emirates have been asked to perform Eid Al-Adha prayers at home even as mosques will be allowed to operate at an increased capacity of 50 percent from Aug. 3.

Mosques in the UAE have been operating at 30 percent capacity after they reopened on July 1.

Announcing the move, Dr. Saif Al Dhaheri, the official spokesman for the National Emergency, Crisis and Disasters Management Authority, stated that after assessing the situation and coordinating with the concerned authorities, it was decided that Eid Al-Adha prayers would be conducted in homes and takbeers broadcast through visual and audio means.

He also announced that the Emirates Fatwa Council has recommended that donations and sacrifices should be to official charitable causes in the country only.

Al Dhaheri advised the public to donate during this time to the official charitable bodies in the country with sacrifices and donations, through smart applications concerned with sacrifices or through slaughterhouses outlined by the local authorities that guarantee the application of precautionary and preventive measures and provide remote services without the need to enter livestock markets or slaughterhouses.

Al Dhaheri stressed the need to avoid family visits and gatherings, and replace them using electronic means of communication or phone contact, as well as refraining from distributing Eid gifts and money to children and individuals during this occasion recommending to instead use of electronic alternatives.

Al Dhaheri pointed out that it is necessary to avoid visiting pregnant women, children and those with chronic diseases who are most vulnerable to COVID-19 and not to allow them to leave the home and avoid going out to public places to preserve their health and safety.

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