Mideast Stocks: UAE stocks bounce back amid hopes of regional de-escalation
Stock exchanges in the United Arab Emirates rebounded on Friday, buoyed by hopes of a potential de-escalation in regional tensions. Investor sentiment improved following European efforts to bring Tehran back to the negotiating table and a pause in U.S. involvement in the Middle East conflict.
The White House said on Thursday that President Donald Trump would decide on "whether or not to go" with U.S. involvement in the conflict in the next two weeks, citing the possibility of negotiations involving Iran in the near future.
Dubai's main index snapped a three-day losing streak, rising 1.6%, driven by gains in real estate and materials sector stocks.
Among the top performers, Dubai's developer Emaar Properties jumped 1.2%, while state-owned Parkin Company advanced 4.8%.
Separately, UAE created a new ministry of foreign trade, and appointed Thani al Zeyoudi as its minister, the United Arab Emirates prime minister and Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum said in a post on X on Friday.
Abu Dhabi's benchmark index (.FTFADGI) also rebounded, gaining 1% after three consecutive sessions of losses. First Abu Dhabi Bank rose 2.7%, while Adnoc Gas advanced 2.5%.
Real estate developer Aldar Properties gained 4.5% after reporting over AED 3.5 billion in sales at its Fahid Beach Residences and The Beach House projects.
Despite Friday's gains, Dubai's index posted a second consecutive weekly loss, down 0.2% after nine straight weeks of gains. Abu Dhabi mirrored the trend with a 0.5% weekly decline, according to LSEG data.
Meanwhile, oil prices — a key driver of Gulf financial markets — fell 2.3% to $77.04 per barrel as of 11:40 GMT.
(Reporting by Mohd Edrees in Bengaluru; Editing by Shailesh Kuber)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
38 minutes ago
- Arabian Business
UAE, Bahrain and Oman evacuate citizens from Iran; more than 20 countries including India, China and US step up repatriation
The UAE, Bahrain, Oman and countries from across the world have stepped up efforts to evacuate citizens from Iran amid rising tensions in the region. The UAE evacuated a number of its nationals and residents from the Islamic Republic of Iran, in coordination with the relevant authorities. As part of its unwavering commitment to the safety of its nationals and residents, and in swift response to emergencies, the UAE successfully executed evacuation operations, which were coordinated and facilitated by the Iranian side, to ensure their safe return home. UAE among countries to evacuate citizens from Iran Furthermore, the UAE continues to engage in intensive calls and diplomatic consultations with the relevant and strategic partners, to de-escalate tensions and restore peace, stemming from a steadfast commitment to diplomacy and dialogue as the only viable path forward. This reflects the UAE's broader vision of fostering stability, justice, and prosperity for the peoples of the region. Meanwhile, Oman, in continuation of the efforts made by the Foreign Ministry to facilitate the repatriation of citizens from Iran, announced the safe return of 193 Omani nationals from Bandar Abbas Port to Khasab Port. The repatriation was secured as part of the third phase of the approved evacuation plan. In a humanitarian cooperation effort, this phase also included the repatriation of 158 nationals of other countries who were able to transit through Oman under the current circumstances. Additionally, 155 Omani citizens and a number of foreign nationals were safely repatriated by air from Iraq to Oman, as part of ongoing coordination with relevant authorities and the Omani Embassy in Baghdad. The Ministry, in cooperation with Oman's diplomatic missions abroad, continues to implement the evacuation plan to ensure the safe and secure return of all Omani citizens to their homeland. For its part Bahrain, in its ongoing efforts to facilitate the return of Bahraini citizens stranded abroad in countries affected by current developments, the Ministry of Foreign Affairs deployed a team of Bahraini diplomats to Turkmenistan. The diplomats are overseeing and coordinating with the relevant Turkmen authorities to streamline entry procedures for Bahraini citizens stranded in the Islamic Republic of Iran, enabling their transit through Turkmenistan and onward travel to the Kingdom of Bahrain via Gulf Air, the national carrier. The Ministry also arranged transportation by bus from the city of Mashhad for citizens wishing to depart Iran by land. The regional repatriations come as more than 20 countries around the world are taking measures to evacuate their citizens from Israel and Iran as the two nations enter the seventh day of their air war and airspace in the region remains closed. Some countries temporarily closed their embassies, according to Reuters. Australia: Around 1,500 Australians in Iran have registered for assistance, with another 1,200 Australians in Israel seeking to leave Austria: 48 Austrians left Israel and about 100 Austrians asked to leave Iran Bulgaria: Sofia has evacuated 17 of its diplomats and their families from Iran to Azerbaijan and is planning to repatriate them by land and air, the Bulgarian government said on Thursday. It said an administration at the Bulgarian embassy in Tehran was moving temporarily to Baku China: China has evacuated more than 1,600 citizens from Iran and hundreds more from Israel, a Chinese foreign ministry spokesperson said on Thursday The Czech Republic: A plane carrying 66 people evacuated from Israel landed near the capital, Prague France: Paris will arrange convoy by the end of the week to get French nationals without their own means of doing so to the Turkish or Armenian borders from Iran to access airports in those countries, French foreign minister Jean-Noel Barrot said on Thursday. French citizens in Israel will be able to board buses starting Friday morning Germany: The German Foreign Ministry said that 345 Germans left the Middle East after the country provided charter flights Greece: Greece has evacuated 16 of its nationals and their families by land from Iran to Azerbaijan and is now working on their repatriation to Greece, the foreign ministry said on Thursday India: So far 110 Indian students have been evacuated from northern Iran, having crossed over into Armenia on June 17, India's foreign ministry said Italy: 29 of the about 500 Italian nationals left Iran on Wednesday with assistance from the government, a diplomatic source said Japan: Japan's top government spokesperson Yoshimasa Hayashi said on Thursday Japan would send two Self-Defence Forces transport aircraft to Djibouti in eastern Africa in preparation for the evacuation of Japanese nationals from Iran and Israel. He also said the Japanese embassies in Israel and Iran were preparing to evacuate Japanese nationals to neighbouring countries by bus, with plans to implement evacuation as early as Thursday New Zealand: The government has temporarily closed its Tehran embassy and evacuated two staff and their family by land to Azerbaijan Poland: A group of Polish citizens evacuated from Iran landed in Warsaw on Thursday morning, ending the evacuation from the country, the Foreign Ministry's spokesperson told journalists. The first plane evacuated from Israel landed in Warsaw on Wednesday morning and a second one is expected on Thursday afternoon from Amman, with 65 people on board Portugal: has temporarily shut its embassy in Iran and evacuated four of its citizens via Azerbaijan. It has received 130 repatriation requests from citizens in Israel and is organising a repatriation flight, expected to land in Portugal later on Thursday, the foreign ministry said Serbia: A group of 100 Serbs have fled Israel via Egypt, ambassador Miroljub Petrovic said on Thursday Sierra Leone: 36 of its citizens were evacuated to Armenia Slovakia: The first evacuation flight arrived in Bratislava on Monday, carrying 73 people, 25 tourists and five family members of diplomats working in Tel Aviv South Korea: Eighteen South Korean nationals and two of their family members who are Iranian nationals were evacuated by land from Iran, South Korea's foreign ministry said in a statement on Thursday United States: The United States is working to evacuate U.S. citizens wishing to leave Israel by arranging flights and cruise ship departures, U.S. ambassador Mike Huckabee said in a post on X
Zawya
an hour ago
- Zawya
Mohammed bin Rashid announces changes to the UAE government
United Arab Emirates: Following consultations and approval of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, announced today changes to the UAE government. His Highness Sheikh Mohammed bin Rashid Al Maktoum said: 'Following consultations with my brother, His Highness the President, and with his approval, we announce today changes to the UAE government as follows: establishment of a Ministry of Foreign Trade in the UAE government and appointment of Dr. Thani Al Zeyoudi as Minister of Foreign Trade, and renaming the Ministry of Economy to Ministry of Economy and Tourism led by Abdullah bin Touq Al Marri.' His Highness added: 'We also announce that the National Artificial Intelligence System will be adopted as an advisory member in the Council of Ministers, the Ministerial Development Council, and all boards of federal entities and government companies starting from January 2026 to support decision-making in these councils, conduct real-time analyses of their decisions, provide technical advice, and enhance the efficiency of government policies adopted by these councils across all sectors.' His Highness Sheikh Mohammed bin Rashid Al Maktoum said: "The world is undergoing a comprehensive transformation phase… scientifically... economically... and socially... our goal is to prepare today for the coming decades... our goal is to ensure continued prosperity and dignified life for future generations."
Zawya
an hour ago
- Zawya
Ministry of Family celebrates graduation of 50 students
Dubai – Her Excellency Sana Suhail, Minister of Family, honoured 50 graduates from disability care and rehabilitation centres for people of determination during an inspiring graduation ceremony held yesterday at the Cultural Centre in Ajman. For the first time, this event brought together students from the centres for people of determination across Dubai, Ajman, Ras Al Khaimah, Fujairah, and Dibba Fujairah, along with students from the "Mashaghel Rehabilitation Centers " vocational training programme, celebrating their perseverance and remarkable achievements. Through their academic and professional journeys, these individuals have become inspiring examples of willpower and dedication. In her speech during the ceremony, Her Excellency praised the graduates for their determination and commitment. She emphasised that this achievement stands as a testament to their unwavering will and the profound positive impact of these programmes, which aim to build a more inclusive and equitable society. The ceremony was a celebration and reinforcement of inclusion and empowerment. It highlighted the importance of investing in the capabilities of people of determination and providing a supportive environment for them to contribute effectively to the nation's development. It also showcases the Ministry of Family's important work in promoting social inclusion and ensuring equal access to education, healthcare, and jobs for people of determination, in line with the National Policy for Empowering Persons with Disabilities. The UAE federal government runs rehabilitation centers for people of determination through the Ministry of Family. These centers are located in various emirates, including Dubai, Ajman, Umm Al Quwain, Ras Al Khaimah, and Dibba Al-Fujairah. They provide tailored education, training, and rehabilitation programmes for individuals aged 4 to 18. After completing these programmes, young people can transition into vocational roles, develop life skills, take on project-based work, or join the wider job market. One such initiative, the "Mashaghel Rehabilitation Centers Programme" workshops, equips people of determination with entrepreneurship and home-based business skills, further expanding opportunities for independence and personal growth. About the Ministry of Family On 8th December 2024, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the establishment of the Ministry of Family in the United Arab Emirates. This initiative, guided by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, positions the Ministry as the principal authority for developing and implementing policies, strategies, and legislation aimed at fostering stable and cohesive families across the UAE. Its core remit includes bolstering the family's role in nurturing sound upbringing, reinforcing national identity, and promoting positive values and behaviours within society. Furthermore, the Ministry will play a crucial part in undertaking research and proposing vital policies and initiatives to boost family fertility rates and mitigate the risks and adverse societal impacts of family breakdown, working closely with all pertinent specialist agencies.
