Companies which have recently announced dividend payouts to shareholders were the top performers in early trading.
Dubai Investments, the owner of stakes in more than 40 companies, said its board recommended a cash dividend of 5 fils a share for last year.
That compares with the 6 fils dividend the company paid in 2010 and 2009, according to data compiled by Bloomberg. However the announcement was well received by the market. The company's shares were up 4 per cent to Dh0.91 a share this morning.
Dubai Islamic Bank, the UAE's biggest bank complying with Shariah rules, was up 0.46 per cent to Dh2.2 a share in early trading, after it said it will pay a dividend of 12.5 fils a share for 2011, in an announcement to the Dubai bourse today.
The bank raised the dividend payment for last year after cutting it to comply with central bank's directions.
Etisalat was also up after its board confirmed a prior announcement that it will pay a dividend of 60 fils a share. The stock was up 0.32 per cent to Dh9.33 a share.
UAE markets were higher in early trading, though property stocks weighed on both the Abu Dhabi Securities Exchange General Index and the Dubai Financial Market General Index. The ADX was up 0.07 per cent to 2,588.43. The DFM edged 0.09 per cent higher to 1,644.74.
In Abu Dhabi, Aldar Properties was down 3.03 per cent. Sorouh Real Estate fell 2.36 per cent. On the Dubai bourse, Arabtec Holding was down 1.40 per cent. Emaar Properties fell 1.01 per cent. Drake and Scull International was 0.99 per cent lower.
Global markets closed down in a sea of red last night. Asian stocks led the decline on Chinese slowdown fears. Markets in the United States followed the Asian indices down as commodities were hit on the China demand concerns. European stocks also closed down ahead of the budget in the UK today and manufacturing data from Germany.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
Oppenheimer
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The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
Water waste
In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.
Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.
A global report published by the Water Resources Institute in August, ranked the UAE 10th out of 164 nations where water supplies are most stretched.
The Emirates is the world’s third largest per capita water consumer after the US and Canada.
ICC Women's T20 World Cup Asia Qualifier 2025, Thailand
UAE fixtures
May 9, v Malaysia
May 10, v Qatar
May 13, v Malaysia
May 15, v Qatar
May 18 and 19, semi-finals
May 20, final
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UAE currency: the story behind the money in your pockets
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UAE currency: the story behind the money in your pockets
