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23
August 2019

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Markets

2,768.85 -0.79%
Volume
70,545,020
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-0.79%
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1,962
14
Up
7
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15
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Traded stocks 36
5,038.99 -0.03%
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63,484,908
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-0.03%
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2,035
9
Up
4
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1.11
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0.6
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73
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2.52
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1.08
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1.09
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1.03
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2.19
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15.02
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5
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16.24
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2.19
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0.88
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1.3
AAN
0.22

Dh50b stimulus, visa rules to revive capital's realty market

Capital values of residential property prices in Abu Dhabi declined over 12 per cent since last year and 3.2 per cent since the beginning of 2019. The market is expected to soften further in the near-term, but Dh50-billion stimulus and new visa rules will ease pressure on the capital's real estate market in the medium to long term, analysts say. According to ValuStrat data released on Tuesday, most areas lost 12 per cent in capital values on an annual basis, however, two locations were slightly less affected by the negative trend. They were apartments on Saadiyat Island and villas located...


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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.