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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News Network
March 5,2020

Dubai, Mar 5: A 16-year-old Indian girl here has tested positive for the deadly coronavirus, bringing the total number of confirmed infection cases in the UAE to 28, according to media reports.

Health officials here confirmed on Wednesday that a new coronavirus case was detected in the girl who attended an Indian school in Dubai, Al-Arabiya website reported.

The girl tested positive for the COVID-19 after she contracted the infection from her father who travelled overseas, Dubai Health Authority (DHA) was quoted as saying by the report.

The Indian High School in Dubai will be closed from Thursday as a precautionary measure, the Gulf News reported.

"As a precautionary measure, Indian High School Group of schools is closed from Thursday, March 5. Detailed circular about exams will be mailed. Your well-being is important. Take care," the report said.

The father developed symptoms of the virus five days after returning to Dubai. Both the student and family members have been quarantined in hospital and are stable and recovering well. All other family members have also been quarantined, the Khaleej Times reported.

"Within the framework of comprehensive preventive measures against the spread of coronavirus, the DHA is conducting tests and monitoring the students, staff and workers of the school that may have interacted with the coronavirus patient," the DHA was quoted as saying by the Gulf News.

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Agencies
May 14,2020

Dubai, May 14: As many as 242 beggars of different nationalities have been nabbed by the Dubai Police since the beginning of the holy month of Ramadan.

Among those arrested, 143 were men, 21 were women and 78 were hawkers, said the police. "An anti-begging campaign was launched, especially to find beggar hotspots, to combat the negative phenomenon," said Colonel Ali Salem Al Shamsi, director of the anti-infiltrators department at the Dubai Police.

"Strict warnings have been issued to beggars to refrain from exploiting the sentiments of people during Ramadan," he added.

Col Al Shamsi also called on the public to stop helping them with money. "The public must direct those in dire straits through proper channels in order to get support from charitable institutions."

Col Al Shamsi also urged residents to report begging activities by calling 901 or through the Dubai Police app's 'Police Eye' feature.

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News Network
May 3,2020

Dubai, May 3: Over 150,000 Indians in the UAE, who wish to return home amid the coronavirus lockdown, have applied through the online registration process to the Indian missions here, according to media reports.

The Indian missions in the country last week opened online registration for the expatriates who wish to fly back home after getting stuck in the country amidst the lockdown due to the coronavirus pandemic.

As of 6 pm on Saturday, we received more than 150,000 registrations, Consul General of India in Dubai Vipul told the Gulf News on Saturday.

A quarter of them want to return to their homeland after losing their jobs, he said.

According to a report in the Khaleej Times on Sunday, about 40 per cent of the applicants who have registered are blue-collared workers and 20 per cent are working professionals.

"Roughly 20 per cent have suffered job losses and about 55 per cent of the total applicants are from Kerala," Neeraj Aggarwal, Consul, Press, Information, Culture was quoted as saying in the report.

Aggarwal said that the figures would change as they are expecting registrations from workers from other states, including Telangana, Uttar Pradesh, and Bihar.

About 10 per cent of the applicants are visit and tourist visa holders who got stranded here due to the ongoing lockdown in India.

India extended the ongoing lockdown by two weeks from May 4 to contain the spread of the coronavirus that has affected nearly 40,000 people in the country.

Aggarwal said that a small number of the applications constitute those from pregnant women and other medical cases.

Since the online registration process was launched, the Consulate's website crashed several times due to the heavy rush of applicants wishing to register to fly back home.

The site has been working fine now though it took a lot of time for it to stabilise in the initial phase due to the heavy traffic, the counsel general said.

He said that the missions here have not yet received any information from the Indian government about the mode of transport of the stranded citizens, the prices of the tickets or how the COVID-19 test results of applicants would be assessed for their journey.

There are high-level discussions going on regarding these things, he said in the report.

Meanwhile, Norka (The Non Resident Keralites Affairs) said it has received a total of 398,000 applications from Keralites across the globe who wish to return home.

"Of which, the highest numbers are from the UAE. At least 175,423 applicants have signed up from the UAE," Norka said in an official statement on Saturday.

It also received 54,305 registrations from Saudi Arabia, 2,437 from the UK, 2,255 from the US, and 1,958 from Ukraine from those who wish to return to India, the Khaleej Times reported.

The coronavirus has infected 13,599 people and claimed 119 lives in the UAE, the Ministry of Health and Prevention said on Saturday.

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