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☆ United Arab Emirates indexes track crude prices higher
▼ + stars: | 2022-11-04 | by ( Mohammad Edrees | ) www.reuters.com time to read: +2 min

Nov 4 (Reuters) - Stock markets in United Arab Emirates closed higher on Friday, after oil climbed on supply concerns fuelled by Europe's upcoming embargo on Russian oil and decline in U.S. crude stockpiles. Crude prices, a key catalyst for Gulf's financial market, jumped $2.84, or 3%, to $97.51 a barrel at 1112 GMT. In Abu Dhabi, the benchmark stock index (.FTFADGI) advanced 1.1%, hitting an all-time high of 10,455 points. Abu Dhabi index boosted by a 0.8% rise in conglomerate International Holding Company (IHC.AD), while steel Manufacturer Emirates Steel Arkan (EMSTEEL.AD) surged 5.5%. Among other stocks, maritime and shipping firm Gulf Navigation rose 2.9% after it swung to profitability with a quarterly profit of 4.2 million dirham compared to losses of 14.6 million dirham a year earlier.

☆ UAE stock markets ease as oil prices fall on China COVID curbs
▼ + stars: | 2022-10-28 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +1 min

Oct 28 (Reuters) - Stock markets in United Arab Emirates ended lower on Friday as oil prices fell after top crude importer China widened its COVID-19 curbs. In Abu Dhabi, the index (<.FTFADGI>) dropped 0.1%, pressured by a 0.5% dip in the country's largest lender First Abu Dhabi Bank (<FAB.AD>), while Abu Dhabi Polymers Co Borouge (<BOROUGE.AD>) was down 1.4% after reporting more than 23% decline in third-quarter net profit. However, the index gained 5.5% this month, as it ended the week 1.7% higher according to Refinitiv data. "The Abu Dhabi stock market slowed down after yesterday's surge as traders moved to secure their gains. Major stock markets elsewhere in the Gulf region were closed.

☆ Shadow puppet enthusiasts hope robotics can save ancient art
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +1 min

KUALA LUMPUR, Oct 27 (Reuters) - Malaysian college lecturer Ahnaf Hakimi Ahmad hopes to save the ancient tradition of shadow puppetry using 3D-printed figures controlled by robotics instead of people. Ahnaf, 33, hopes his invention, which is funded by a 20,000 Malaysian ringgit ($4,244) grant, can allow people to enjoy the rapidly fading artform "whenever and wherever". So, with this animatronic shadow puppet show, it will be a new phenomenon for these youths," he said at a performance at a mall in Penang island. Wayang usually depicts epic Hindu tales such as the Ramayana in hours-long theatrical and musical performances, but some in Muslim-majority Malaysia consider them un-Islamic. ($1 = 4.7120 ringgit)Reporting by Ebrahim Harris; Editing by Kanupriya Kapoor and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

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