Latest news with #JosephDahrieh
Reuters
11-06-2025
- Business
- Reuters
Gulf bourses end mixed on US-China trade-talks
June 11 (Reuters) - Stock markets in the Gulf ended mixed on Wednesday as there was little progress in U.S.-China trade talks, dashing hopes it would ease long-standing tensions between the world's largest economies. Top officials of both countries said on Tuesday they agreed on a framework to get their trade truce back on track and remove China's export restrictions on rare earths, while offering little sign of a durable resolution. Saudi Arabia's benchmark index (.TASI), opens new tab - which traded after a four-session eid break - gave up early gains to finish flat. Meanwhile, the kingdom's crude oil supply to China is set to dip slightly in July, Reuters reported on Tuesday, citing trade sources, but still strong for a third straight month as the OPEC kingpin regains its market share supplying the world's top crude importer. Dubai's main share index (.DFMGI), opens new tab eased 0.1%, hovering around 17-year high, with top lender Emirates NBD ( opens new tab losing 2%. The Dubai stock market remained relatively flat, suggesting potential uncertainty as the market hovers near 17-year highs, which may prompt some investors to engage in profit-taking, said Joseph Dahrieh, Managing Principal at Tickmill. In Abu Dhabi, the index (.FTFADGI), opens new tab inched 0.1% higher, with ADNOC Gas ( opens new tab gaining 1.2%. ADNOC Gas said on Tuesday it had taken a final investment decision on the first phase of its Rich Gas Development (RGD) Project, awarding $5 billion in contracts to expand and improve efficiency at the project. The Qatari index (.QSI), opens new tab added 0.2%, with Qatar Gas Transport ( opens new tab increasing 2.8%. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab was up 0.1%, helped by a 2% rise in Commercial International Bank ( opens new tab.
Khaleej Times
09-06-2025
- Business
- Khaleej Times
UAE: Gold prices remain steady after Eid Al Adha holidays
Gold prices were steady at the opening of the markets in Dubai on Monday after the Eid Al Adha holidays as prices continued to trade below Dh400 per gram. The 24K was trading at Dh399 per gram on Monday morning, slightly up from last week's close. Among the other variants of the precious metal, 22K, 21K and 18K were trading at Dh369.5, Dh354.5 and Dh303.75 per gram, respectively. The UAE announced a four-day holiday for public and private sectors on the occasion of Eid Al Adha from Thursday to Sunday. Spot gold was steady at $3,309.97 per ounce, supported by hopes of a US-China tariff deal. The yellow metal fell over one per cent on Friday due to strong US jobs clouding the outlook for the US Federal Reserve's move to cut interest rates. Joseph Dahrieh, managing principal at Tickmill, said gold could come under pressure as Fed members reiterated a cautious monetary policy stance. 'Though markets continue to price in rate cuts later this year, the lack of urgency from policymakers could limit further upside for the bullion,' he said. Linh Tran, a market analyst at said the Russia-Ukraine conflict has entered a new phase. 'Ukraine recently launched a large-scale drone offensive against strategic Russian airbases under the operation named 'Operation Spiderweb'. With over 100 unmanned aerial vehicles launched from inside Russian territory targeting strategic bombers, the campaign inflicted significant damage and notably raised the risk of broader, uncontrolled escalation. Heightened geopolitical tensions between major powers have historically been a powerful driver of safe-haven demand, and gold is typically the first asset to benefit,' said Tran.
Business Recorder
03-06-2025
- Business
- Business Recorder
Dubai's first tokenised real estate project signals ‘major transformation' for property sector
Last week it was reported that Prypco Mint - the MENA's first tokenised real estate investment platform backed by the Dubai Land Department (DLD) - saw its first property listing fully funded in one day, 'setting a regional benchmark for speed, demand, and investor confidence.' The property attracted 224 investors from over 40 nationalities - 70% of whom entered Dubai's real estate market for the first time - with an average investment amount of AED 10,714. Prypco said this highlighted 'the platform's wide appeal and the growing appetite for accessible, tech-enabled real estate opportunities in the region.' 'To see our first property fully funded in just a day reflects not only the strength of the concept but also a clear market demand for smarter, more accessible investment solutions,' said Prypco's CEO Amira Sajwani. Dubai's residential property prices expected to fall by 15%: Fitch Ratings The initiative continues to draw significant interest, with a waitlist that has over 6,000 requests. 'This surge in demand reflects Dubai's growing appeal to new segments of global investors seeking innovative and accessible property ownership models,' DLD said. So what exactly is a tokenised real estate project? Essentially, it allows users to own a share in a prime real estate project in Dubai properties through blockchain-based tokens, starting from AED 2,000. Joseph Dahrieh, Managing Principal at forex broker Tickmill, broke it down: 'A tokenized real estate project involves converting ownership rights or the economic value of a physical property into digital tokens that are recorded and traded on a blockchain platform.' Speaking to Business Recorder, he said 'this process enables fractional ownership, meaning a property can be divided into many smaller, more affordable shares represented by these tokens.' This approach aims to increase liquidity by making it easier to buy and sell these shares, lower barriers to entry for investors by reducing the minimum investment needed, and enhance transparency and security through the immutable nature of blockchain records, he explained. According to Prypco's statement, the platform converts tangible real estate assets into secure, digital tokens, each linked to a legally recognised Property Token Ownership Certificate issued by the DLD. 'This grants investors the same rights as traditional property ownership with none of the associated administrative burden, while enjoying benefits such as rental income, capital appreciation, and liquidity,' it said. Meanwhile DLD has said the certificate it issues will ensure 'a transparent and secure investment experience without the complexities of traditional property management', adding that investors will benefit from both rental income and capital appreciation resulting from the property's appreciation. Currently available exclusively to UAE ID holders, the platform is expected to expand globally in the near future. The project is jointly managed by DLD, as the regulator of physical real estate assets, and the Virtual Assets Regulatory Authority, as the regulatory body for digital assets. 'The collaboration ensures an integrated and transparent regulatory framework for this new and innovative model of property investment,' according to DLD. All transactions are carried out exclusively in UAE Dirhams, with no use of crypto currencies during the pilot phase. Through the platform, investors can access property details, ranging from pricing, risk factors, and technical specifications to the minimum investment required. In the current phase, the Central Bank of the United Arab Emirates will oversee the opening of corporate accounts linked to real estate tokenization through the Client Money Account system. This banking structure is designed to safeguard investor funds. What does this mean for Dubai's property sector? Dahrieh said 'tokenization signifies a major transformation aimed at democratizing investment and enhancing market dynamics.' He said 'it lowers investment barriers, attracting new retail and global investors.' 'This initiative is expected to boost market liquidity, transparency, and transaction efficiency. It also offers developers new funding avenues. Strategically, this aligns with the Dubai Economic Agenda D33 and Real Estate Strategy 2033, aiming to solidify Dubai as an innovative global hub,' he said. 'The DLD projects that tokenized assets could reach AED 60 billion, or 7% of the market, by 2033,' he added. The project is part of the Real Estate Evolution Space Initiative previously launched by DLD, which aims to 'position Dubai on the global map for PropTech and artificial intelligence.' DLD said the initiative fosters a flexible legislative environment and encourages the attraction of talent and start ups in the real estate sector, further enhancing Dubai's global competitiveness. Copyright Business Recorder, 2025
Zawya
02-06-2025
- Business
- Zawya
Omani stock market demonstrates resilience amidst regional uncertainty
Muscat: The Omani stock market recorded its fifth consecutive day of positive performance this week, continuing its upward trajectory and further recovering recent losses. This sustained rally indicates strong underlying demand within the market, according to an industry watcher. 'This performance contrasts with broader regional trends, where markets largely continued to grapple with uncertainty, consistent with the previous week. Profit-taking was evident in some regional markets as external factors weighed on general sentiment,' said Joseph Dahrieh Managing Principal at Tickmill. 'However, the Omani stock market appeared more focused on positive internal developments, which have been bolstering investor confidence,' he further added. While potential risks associated with lower oil prices and global economic uncertainty remain, these factors have seemingly had a less pronounced impact on the Omani market lately, said Joseph Dahrieh. Given recent positive developments and current momentum, the market appears well-positioned to potentially continue its upward trend in the near term. 'Reinforcing this positive sentiment are key national economic initiatives unveiled this week. The landmark UAE-Oman agreement to develop the Al Rawdah Special Economic Zone in Al Buraimi signals a substantial long-term boost,' said Joseph Dahrieh. 'This joint venture is anticipated to attract considerable investment, stimulate cross-border trade and diverse economic sectors, thereby offering a sustained positive outlook for both the wider economy and the stock market,' he added further. The Industrial sector led the gains, continuing its strong performance for a second consecutive week with a 5.89% increase. Within this sector, Al Anwar Ceramic was higher by 4.21% and Al Maha Ceramics by 13.75%, both maintaining their upward momentum. Oman Cables Industry surged by 16.50%. OQ Base Industries contributed to the positive trend with a gain of 1.75% and was the most traded stock in terms of both value and volume. The Services sector also achieved a solid advance, rising by 2.29%. Key contributors included OQ Gas Networks, which gained 2.78%, and OQ Exploration and Production, which rose by 3.11%. In telecommunications, Oman Telecom edged higher by 0.60%, while Ooredoo recorded a strong performance, climbing 12.30%. National Gas also saw a significant increase of 8.22%. The Financial sector posted a more modest gain of 0.42%. Sohar International Bank rose by 0.71%, and Al Anwar Investment climbed by 2.41%. Muscat Finance also performed well, increasing by 3.92%, while Al Sharqiyah Investment Holding registered a gain of 1.25%. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
31-05-2025
- Business
- Times of Oman
Omani stock market demonstrates resilience amidst regional uncertainty
Muscat: The Omani stock market recorded its fifth consecutive day of positive performance this week, continuing its upward trajectory and further recovering recent losses. This sustained rally indicates strong underlying demand within the market, according to an industry watcher. 'This performance contrasts with broader regional trends, where markets largely continued to grapple with uncertainty, consistent with the previous week. Profit-taking was evident in some regional markets as external factors weighed on general sentiment,' said Joseph Dahrieh Managing Principal at Tickmill. 'However, the Omani stock market appeared more focused on positive internal developments, which have been bolstering investor confidence,' he further added. While potential risks associated with lower oil prices and global economic uncertainty remain, these factors have seemingly had a less pronounced impact on the Omani market lately, said Joseph Dahrieh. Given recent positive developments and current momentum, the market appears well-positioned to potentially continue its upward trend in the near term. 'Reinforcing this positive sentiment are key national economic initiatives unveiled this week. The landmark UAE-Oman agreement to develop the Al Rawdah Special Economic Zone in Al Buraimi signals a substantial long-term boost,' said Joseph Dahrieh. 'This joint venture is anticipated to attract considerable investment, stimulate cross-border trade and diverse economic sectors, thereby offering a sustained positive outlook for both the wider economy and the stock market,' he added further. The Industrial sector led the gains, continuing its strong performance for a second consecutive week with a 5.89% increase. Within this sector, Al Anwar Ceramic was higher by 4.21% and Al Maha Ceramics by 13.75%, both maintaining their upward momentum. Oman Cables Industry surged by 16.50%. OQ Base Industries contributed to the positive trend with a gain of 1.75% and was the most traded stock in terms of both value and volume. The Services sector also achieved a solid advance, rising by 2.29%. Key contributors included OQ Gas Networks, which gained 2.78%, and OQ Exploration and Production, which rose by 3.11%. In telecommunications, Oman Telecom edged higher by 0.60%, while Ooredoo recorded a strong performance, climbing 12.30%. National Gas also saw a significant increase of 8.22%. The Financial sector posted a more modest gain of 0.42%. Sohar International Bank rose by 0.71%, and Al Anwar Investment climbed by 2.41%. Muscat Finance also performed well, increasing by 3.92%, while Al Sharqiyah Investment Holding registered a gain of 1.25%.
