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Friday
23
August 2019

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Markets

2,768.85 -0.79%
Volume
70,545,020
Turnover
-0.79%
Trades
1,962
14
Up
7
Flat
15
Down
Traded stocks 36
5,038.99 -0.03%
Volume
63,484,908
Turnover
-0.03%
Trades
2,035
9
Up
4
Flat
13
Down
Traded stocks 26
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UAB
1.11
IFA
0.6
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73
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2.52
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1.08
Al Madina
0.22
Al Salam Bank
1.09
Waha Capital
1.03
Aldar Properties
2.19
FAB
15.02
Emaar
5
Etisalat
16.24
Aldar Properties
2.19
GFH
0.88
GMPC
1.3
AAN
0.22

UAE, Italy seek to promote startup, innovation

An agreement signed by the UAE and Italy on Monday for 'Startups and Innovation Cooperation' will take the two countries' strategic partnerships to a new level, Sultan bin Saeed Al Mansouri, Minister of Economy of the UAE, said. The MoU was signed at the UAE-Italy Business Forum by Luigi Di Maio, Deputy Prime Minister, who is heading top-level delegation to the UAE. Al Mansouri said the UAE has a unique and dynamic SME and entrepreneurship ecosystem, which is globally competitive and will continue to grow rapidly in the coming years. "For the last 10 years, the UAE has been focusing...


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Business News

Weak investment, muted monetary transmission challenges for Indian economy: Goldman

New Delhi: Notwithstanding India's progress on growth and inflation, some of the big challenges for the economy include weak investment, muted monetary transmission and slow GST collections, according to Goldman Sachs. India's GDP growth increased from an average of 6.7 per cent during 2010 to 2014 to 7.3 per cent during 2015 to 2019, while, average inflation has declined from 10 per cent to 5 per cent during the same period. "Despite growth being strong, overall, the investment climate was pretty weak," said Prachi Mishra, India Chief Economist, Goldman Sachs in a podcast wherein she discussed the drivers of India's...
16/08/2019

Oil rises more than 1% as US recession fears recede

TOKYO: Crude oil prices rose more than 1 percent on Friday following two days of declines, buoyed after data showing an increase in retail sales in the United States helped dampen concerns about a recession in the world’s biggest economy.Brent crude was up 68 cents, or 1.2 percent, at $58.91 a barrel at 0650 GMT, after falling 2.1 percent on Thursday and 3 percent the previous day.US crude was up 63 cents, or 1.2 percent, at $55.10 a barrel, having dropped 1.4 percent the previous session and 3.3 percent on Wednesday.US retail sales rose 0.7 percent in July as consumers...
16/08/2019

Angel Flight hits back at 'grossly wrong' ATSB report into fatal Mount Gambier plane crash

By Rhett Burnie The head of Angel Flight Australia is calling for a Senate review into an Australian Transport Safety Bureau (ATSB) report that found the charity was seven times more likely to be involved in a fatal crash than other private flight operators.Marjorie Pagani slammed the ATSB investigation into a fatal Angel Flight crash in regional South Australia in June 2017, labelling it "demonstrably wrong".Tracy Redding, 43, her daughter Emily, 16, and Angel Flight volunteer pilot Grant Gilbert, 78, were killed when the light aircraft they were in crashed into a paddock, 70 seconds after take-off at Mount Gambier...

16/08/2019

Telstra outage causes 20hr communications blackout affecting mobile phones, internet in northern WA

ABC Kimberley By Erin Parke Businesses are demanding improvements to phone and internet systems in Australia's north after a 20-hour outage shut down retail systems, delayed flights, and slowed police responses to home burglaries.Telstra says a 'third party' was responsible for damaging the fibre optic cable near Port Hedland in Western Australia's north on Thursday afternoon, knocking out the 3G and 4G mobile networks across the Kimberley, along with some landline and broadband services, affecting about 50,000 people.In Broome, that meant queues of people at the handful of ATMs still working, and pubs and shops erecting 'cash only' signs during...
16/08/2019

Huawei gets caught up in China territory controversy

China's Huawei, the tech giant under scrutiny for its alleged links to the Chinese government, has become caught up in a controversy surrounding the representation of Taiwan.Huawei has come under fire for allegedly implying in its smartphone settings that Taiwan is independent.Despite a backlash on social media, Huawei has declined to comment.It is the latest firm - and an unexpected one - to get caught up in this kind of controversy.Global brands such as Versace, Coach, Givenchy, and Swarovski all faced similar criticism this week for listing Hong Kong, Macau, and Taiwan as a separate countries or regions - not...
16/08/2019

Bahrain’s sovereign wealth fund appoints new CEO

Bahrain’s sovereign wealth fund, Mumtalakat, has appointed Khalid al-Rumaihi as its new chief executive officer.Rumaihi was a member of the board of directors of Mumtalakat and head of the Board Investment Committee since 2015, a statement from the fund said on Tuesday.He also led the Bahrain Economic Development Board (EDB)as chief executive.Rumaihi replaces Mahmood Alkooheji, who was chief executive since Mumtalakat was established in 2006.