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15:42
Friday
20
September 2019

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Markets

2,819.69 -0.14%
Volume
310,667,500
Turnover
-0.14%
Trades
3,580
9
Up
3
Flat
22
Down
Traded stocks 34
5,124.72 -0.61%
Volume
111,231,083
Turnover
-0.61%
Trades
2,475
6
Up
7
Flat
15
Down
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ADSB
2.05
Gulf Cement
0.74
RAKBANK
4.69
Al Salam
0.45
AXA Green Crescent
0.41
Wahat Al Zaweya
2.43
Al Madina
0.2
ADNIC
2.8
FAB
15.26
Emaar
4.85
ADNOC Distribution
2.62
Emirates NBD
13.1
GFH
0.89
ADNOC Distribution
2.62
Deyaar
0.32
Emaar
4.85

UAE banks' exposure to realty declines

Growth in the UAE banking sector's loan exposure to the real estate sector nearly halved to 8.5 per cent last year, compared to 18.1 per cent in the previous year, due to a persistent decline in property prices as well as a reduction in the number of project launches. According to the UAE Central Bank's Financial Stability Report 2018, the outstanding balance of real estate loans amounted to Dh379 billion at the end of 2018, which was slightly above 20 per cent of total loans. Bank lending to the real estate sector (including both residential and commercial real estate) grew...


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Business News

14/09/2019

‘No one asks new dads how they’re feeling at work’

Dave Edwards says his son was born screaming and didn't stop for 12 months. It was a tough introduction to parenting for the 33-year-old who spent those early days at home on paternity leave. Severely sleep deprived, he returned to his job in human resources five weeks after the birth. "I was in a fairly frequent state of worry, worry about my partner at home with a screaming baby. I had a job to do that was quite stressful," the Brisbane, Australia-based father says. A few months later he felt the full grip of anxiety and depression take hold. Mr...
14/09/2019

Has the US flotation bubble burst?

One of the most hotly anticipated stock market listings of the year - the flotation of office property rental firm WeWork - is now in doubt. The uncertainty comes after the firm was reported to be facing pressure from its biggest external investor, Japanese firm SoftBank, to drop its flotation plans amid concerns about its plunging valuation. The company was valued at $47bn (£38bn) last year, but reports have suggested it is now considering a price tag of less than $20bn. Other high-profile and heavily loss-making companies - such as ride-hailing apps Lyft and Uber and messaging app Slack -...
14/09/2019

Historic towns to benefit from £95m boost named

Historic English shopping centres will benefit from a £95m regeneration fund, the government has said.In all, 69 towns and cities will receive money, with projects aimed at turning disused buildings into shops, houses and community centres.The largest share of money, £21.1m, will go to the Midlands, with £2m going to restore buildings in Coventry that survived World War Two bombing.The government said the move would "breathe new life" into High Streets.The government's Future High Street Fund is providing £52m of the money, while £40m will come from the Department for Digital, Culture, Media and Sport (DCMS). A further £3m is...

14/09/2019

US, China tariffs could lower global GDP by 0.8 percent in 2020: IMF

IMF spokesman Gerry Rice said trade tensions were beginning to affect a world economy already facing challenges including a weakening of manufacturing activity not seen since the global financial crisis of 2007-2008.US Treasury Secretary Steven Mnuchin told Reuters he had not seen the new IMF forecast, but did not expect the impact to be as significant in the United States."I don't see it in US as that big an impact," he said, when asked about the IMF forecast after an event hosted by the New York Times.Rice told a regularly scheduled IMF news conference that the global lender is to...
14/09/2019

Debenhams enters Oman as part of Middle East expansion

MUSCAT: Debenhams has opened two new stores in its biggest international region, the Middle East, entering Oman for the first time, and taking the number of stores in this region to 29.Debenhams opened in The Galleria Al-Maryah Island in Abu Dhabi, on Wednesday 4th September, as part of the center’s much-anticipated expansion. It is Debenhams’ sixth store in the UAE with partner Alshaya, and will trade on two floors across 75,073 square feet.The launch in Oman means Debenhams is now represented in 8 countries in the region. The store is in the newly-opened Mall Of Muscat, which boasts the largest...
13/09/2019

‘Count Draghila’ is sucking our accounts dry, says German daily Bild

BERLIN: Mass-selling German newspaper Bild on Friday accused European Central Bank president Mario Draghi of “sucking dry” the bank accounts of Germany’s savers, a day after the ECB cut interest rates further. Next to a photomontage of Draghi with fangs and dressed as a vampire, Bild’s headline read: “Count Draghila is sucking our accounts dry.” Hoping to kick-start economic activity nearly a decade after the euro zone’s debt crisis, the ECB on Thursday cut interest rates deeper into negative territory and promised bond purchases with no end-date to push borrowing costs even lower. The bigger-than-expected stimulus immediately fueled concerns among...