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Markets

2,888.39 0.12%
Volume
98,508,409
Turnover
0.12%
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2,109
16
Up
3
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15
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Traded stocks 34
5,096.09 -0.20%
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52,018,454
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-0.20%
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1,667
9
Up
5
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10
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Methaq
0.74
IHC
4.37
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0.6
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0.21
ADSB
1.37
Arkan
0.48
ADCB
8.3
RAK Ceramics
1.54
DIB
5.4
Emirates NBD
13.4
FAB
15.1
Aldar Properties
2.24
GFH
0.91
Amanat
0.9
DIB
5.4
AAN
0.22
11/08/2019

Pope caps reform of Vatican bank with new statutes

VATICAN CITY: Pope Francis has approved new statutes for the Vatican Bank, making an external audit obligatory and introducing other changes to bolster reforms that have turned around the once scandal-ridden institution. The statutes, approved in a papal document released by the Vatican on Saturday, cap more than six years of changes at the bank since Francis was elected in 2013, since when he has made reform of the bank one of his priorities. The bank had been caught in previous years in cases of corruption, tax evasion, embezzlement, money laundering and real estate fraud, some involving top officials and...


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Business News

08/09/2019

32,256 business licenses issued in eight months in UAE

ABU DHABI, 8th September, 2019 (WAM) -- Signalling growing investor confidence in the country, a total of 32,256 business licenses were issued in the UAE over the first eight months of the year, bringing to 572,615 the total number of business permits in the country, a growth of 6 pc from 540,359 by the end of December. The significant increase in business licenses corroborates the economic growth estimates made by the Central Bank of the United Arab Emirates which projected real GDP in the country to grow by 2.4 pc in 2019 in its latest report. In more detail, Abu...
08/09/2019

Mag Development launches Dh8b residential projects in Dubai

Mag Development, the real estate development arm of Mag Holding Group, on Sunday announced the launch of its Dh8 billion residential projects and a comprehensive programme of Dh120 per day payment option to own a property in Dubai - a move that will boost the company's presence in the emirate's real estate sector. An investment of Dh8 billion will be injected into the market to provide four major projects: Mag City, Meydan, Al Furjan Villas, and MPL Tower in Jumeirah Lakes Towers. The new programme provides customers with the opportunity to pay Dh120 per day to own a house without...
08/09/2019

Air freight volumes hit by trade war flare-up

Freight volumes handled by Middle Eastern airlines dropped by 5.5 per cent in July 2019 compared to the year-ago period as across the globe air cargo continued to suffer from weak global trade and the intensifying trade dispute between the US and China, the International Air Transport Association (Iata) said. Iata data for global air freight markets shows that demand, measured in freight tonne kilometers (FTKs), contracted by 3.2 per cent in July 2019, compared to the same period in 2018. This marks the ninth consecutive month of year-on-year decline in freight volumes. For Middle East airlines, the freight volume...

08/09/2019

Oil nations to do ‘whatever necessary’ to balance market: UAE

ABU DHABI: Oil producers will do “whatever necessary” to rebalance a crude market depressed by trade tensions and an uncertain global outlook, the United Arab Emirates’ energy minister said Sunday.Suheil Al-Mazrouei warned however that with the US-China trade row hanging over the world economy, additional output cuts may not be the best way to boost sagging prices.Deeper production cuts are “not a decision that we take easily,” the minister said ahead of the four-day World Energy Congress starting Monday in Abu Dhabi, where a key meeting of oil ministers will also be held on Thursday.Mazrouei told a press conference that...
08/09/2019

Danube Properties opens office in Kerala

Danube Properties has launched operations in the south Indian state of Kerala by opening its sales and marketing office in Kochi. Present on the occasion was Rizwan Sajan, founder and chairman of Danube Group; Atif Rahman, director and partner of Danube Properties; and Bollywood actress Sunny Leone; along with other senior management of the company. This is the developer's third marketing and sales office in India - after it launched operations in Mumbai in 2016 and Delhi in 2017. India is one of the UAE's strongest economic partners with huge investments from both countries. In 2018, Indian investors have accumulated...
08/09/2019

Shuaa Capital to exit non-core units, sells 2 units

Financial services group Shuaa Capital on Sunday announced that it would exit from non-core business and sell two of its units to Abu Dhabi-listed International Holdings Company (IHC). The company said in a statement to Dubai Financial Market that it would sell Shuaa Securities Brokerage and market-making businesses in the UAE to IHR RSC Ltd, a subsidiary of IHC, pending regulatory approval. "Under the terms of the all-cash deal, IHC will acquire the operations of both businesses, which currently function as stand-alone business units within Shuaa. This sale is part of the strategy of the combined entity to exit non-core...